HDFC Bank Hikes FD Interest Rates Again Within 1 Week: Check Latest Rates

HDFC Bank has once again hiked interest rates on fixed deposits across different tenures within one week. HDFC Bank, headquartered in Mumbai, is India's largest private sector bank by assets and world's 10th largest bank by market capitalisation as of April 2021. The new interest rates have come into effect as on August 25, 2022.

Earlier this month Reserve Bank of India's Monetary Policy Committee hiked the repo rate by 50 basis points to 5.40 to control surging inflation on August 5, 2022. The RBI's move led many public and private lender to introduce interest hikes on fixed deposit.

The hike in the interest rate has been introduced for FDs more than Rs 2 crore but less than Rs 5 crore. After the hike, the maximum interest that general citizens can fetch is 6.10% p.a. for a tenure of 3 years 1 day to 5 years while senior citizens will fetch an additional .50% interest rate at 6.60% p.a. The highest interest rate that senior citizen can fetch will be available in the tenor bucket of 5 years 1 day to 10 years at 6.65% p.a.

The minimum tenure for earning FD interest is 7 days.

According to website of HDFC, "For Premature Closure (for all amounts, and for including Sweep In / Partial Withdrawal), the final rate applicable will be 1% Below that of the lower of either: a) the rate for the original /contracted tenor for which deposit has been booked or b) the base rate applicable for the tenor for which the deposit has been in force with the bank except for the deposits booked with tenor 7-14 days."

Check the latest rates below for FDs be more than Rs 2 crore but less than Rs 5 crore:

Tenor Bucket	>=2 Crore to	>=2 Crore to
	Interest Rate (per annum)	**Senior Citizen Rates (per annum)
7 - 14 days	3.50%	4.00%
15 - 29 days	3.50%	4.00%
30 - 45 days	3.60%	4.10%
46 - 60 days	4.00%	4.50%
61 - 89 days	4.75%	5.25%
90 days	5.25%	5.75%
6 mnths 1 day	5.50%	6.00%
9 mnths 1 day to	5.70%	6.20%
1 Year to	6.05%	6.55%
15 months to	6.05%	6.55%
18 months to	6.05%	6.55%
21 months to 2 years	6.05%	6.55%
2 year 1 day to 3 years	6.05%	6.55%
3 year 1 day to 5 years	6.10%	6.60%
5 year 1 day to 10 years	5.90%	6.65%*