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HDFC Bank Revises FD Rates After RBI’s Rate Cut Last Week
After the RBI in its second bi-monthly monetary policy committee meet on June 6 cut key repo rate for the third-straight time by 25 bps to 5.75%, the private sector lender has also revised its rates on fixed deposits. The new rates as per the bank's website come into effect from June 12.
New revised rates on HDFC Bank FDs applicable from June 12, 2019:
| FD Tenure | New revised rates on FD value less than Rs. 2 crores |
|---|---|
| 7-14 days | 3.5% |
| 46 days to less than 9 months | 6.25% |
| 9 months to less than 1 year | 6.75% |
| 1 year | 7.30% |
| > 1 year to 2 years | 7.30% |
| 2 years 1 day to 2 years 15 days | 7.40% |
| 2 years 16 days | 7.40% |
| 2 years 17 days - 3 Years | 7.40% |
| > 3 years but up to 5 years | 7.25% |
| 5 years to 10 years | 6.50% |
HDFC bank allows FD tenure of as less as 7 days and senior citizens are eligible to get a higher return by 0.5%. And also the bank offers, reinvestment benefit on maturity of the FD account.
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