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HDFC Bank Cuts FD Interest Rates With Effect From 25 August

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HDFC Bank has reduced its interest rates on fixed deposits (FDs) on select tenures. Sharp cuts in rates have been seen for deposits maturing between 91 days to 6 months. Rates have also been revised for FDs maturing within a year, and in 2 to 5 years.

The new rates have been made effect from 25 August 2020.

HDFC Bank Cuts FD Interest Rates With Effect From 25 August
 

HDFC Bank interest rates on FD below Rs 2 crore

Tenure Interest rates Senior citizen interest rates
7 - 29 days 2.50% 3.00%
30 - 90 days 3.00% 3.50%
91 days - 6 months 3.50% 4.00%
6 months 1 day - less than 1 year 4.40% 4.90%
1 year- 2 years 5.10% 5.60%
2 years 1 day - 3 years 5.15% 5.65%
3 year 1 day- 5 years 5.30% 5.80%
5 years 1 day - 10 years 5.50% 6.25%

HDFC Bank interest rates on FD below Rs 5 crore

Tenure Interest rates Senior citizen interest rates
7 - 29 days 2.50% 3.00%
30 - 60 days 2.75% 3.25%
61 days - 6 months 3.00% 3.50%
6 months - 9 months 3.50% 4.00%
9 months - less than 1 year 3.75% 4.25%
1 year- 2 years 4.00% 4.50%
2 years 1 day - 5 years 4.25% 4.75%
5 years 1 day - 10 years 4.25% 5.00%

For FDs less than Rs 5 crore for a tenure between 5 years one day and 10 years, senior citizens receive an additional premium of 0.25 percent (over and above the existing premium of 0.50 percent) during the HDFC Bank's special deposit offer that is being offered from 18 May 2020 to 30 September 2020.

This special offer will be applicable to new Fixed Deposit booked as well as for renewals by senior citizens during the period. However, the offer is not applicable to Non-Resident Indians (NRIs).

Story first published: Thursday, August 27, 2020, 14:44 [IST]
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