HDFC Bank FD Interest Rates Raised

Business

oi-Olga Robert

By Olga Robert

Published: Monday, August 6, 2018, 16:28 [IST]

The largest private lender in the country, HDFC bank has revised its interest rates for fixed deposits (term deposits) of select tenures.

The interest rates revised for general category as well as senior citizens for deposits in the less than one crore as well as 5 crore category. These are effective from 6 August 2018, as per the bank's official website.

Period	Interest Rates	Senior Citizens Interest Rates
7 - 14 days	3.50%	4.00%
15 - 29 days	4.25%	4.75%
30 - 45 days	5.75%	6.25%
46 - 60 days	6.25%	6.75%
61 - 90 days	6.25%	6.75%
91 days - 6 months	6.25%	6.75%
6 months 1 day- 6 months 3 days	6.75%	7.25%
6 months 4 days	6.75%	7.25%
6 months 5 days- 9 months	6.75%	7.25%
9 months 1 day- 9 months 3 days	7.00%	7.50%
9 months 4 days	7.00%	7.50%
9 months 5 days - 9 months 15 days	7.00%	7.50%
9 months 16 days	7.00%	7.50%
9 months 17 days	7.00%	7.50%
1 Year	7.25%	7.75%
1 year 1 day - 1 year 3 days	7.25%	7.75%
1 year 4 days	7.25%	7.75%
1 year 5 days - 1 Year 15 Days	7.25%	7.75%
1 Year 16 days	7.25%	7.75%
1 year 17 days - 2 Years	7.25%	7.75%
2 years 1day - 2 Years 15 days	7.10%	7.60%
2 Years 16 days	7.10%	7.60%
2 years 17 days - 3 Years	7.10%	7.60%
3 years 1day - 5 years	7.10%	7.60%
5 Years 1 Day - 8 Years	6.00%	6.50%
8 Years 1 Day - 10 Years	6.00%	6.50%

The increase in FD interest rates comes days after the Reserve Bank of India (RBI) hikes its repo rate to curb inflation. In the previous week, the public sector lender, the State of Bank of India (SBI) increased its interest rates on some fixed deposit tenures, even before the central bank announced its decision to hike repo rates after the monetary policy meet.