HDFC Bank Bulk FD: India’s Largest Private Sector Bank Revises Interest Rates

HDFC Bank, the largest private bank in India by market capitalisation, Housing Development Finance Corporation (HDFC) Bank, has changed the interest rates on bulk fixed deposits for amounts between Rs 3 Cr to less than Rs 5 Cr. The bank offers interest rates on tenors of 7 days to ten years that range from 4.75% to 7.00%. HDFC Bank is giving a maximum interest rate of 7.40% on bulk deposits with terms ranging from one year to fifteen months. According to the bank's official website, the revised interest rates go into effect on December 5, 2024.

HDFC Bank Bulk FD Rates

The bank is giving an interest rate of 4.75% on bulk fixed deposits that mature in 7-29 days, and HDFC Bank is offering an interest rate of 5.50% on those that mature in 30-45 days. The interest rate offered by HDFC Bank is 5.75% for deposits made between 46 and 60 days and 6% for deposits made between 61 and 89 days. The interest rate on HDFC Bank bulk deposits that mature in 90 days to 6 months is 6.50%, while the interest rate on deposits that mature in 6 months and 1 day to 9 months is 6.85%.

The bank is giving an interest rate of 6.75% on bulk fixed deposits that mature in nine months, one day to one year, and HDFC Bank is offering an interest rate of 7.40% on those that mature in one year to fifteen months. The interest rate offered by HDFC Bank is 7.05% for bulk deposits booked for a period of 15 to 18 months and 7.25% for bulk deposits booked for a period of 18 to 21 months. Bulk deposits from HDFC Bank that mature between 21 months and 2 years will yield an interest rate of 7.05%, while those that mature between 2 years and 10 years will provide an interest rate of 7%.

"The base rate applicable is the interest rate of the date of deposit acceptance under tenor for which the deposit has been in force with the bank," HDFC Bank mentioned on its website.

Applicable from 5th December, 2024 (Rs 3 Crore to Rs 5 Crores)
Tenor	Interest Rate (per annum)	Senior Citizen Rates (per annum)
7 - 14 days	4.75%	5.25%
15 - 29 days	4.75%	5.25%
30 - 45 days	5.50%	6.00%
46 - 60 days	5.75%	6.25%
61 - 89 days	6.00%	6.50%
90 days - 6 months	6.50%	7.00%
6 months 1 day - 9 months	6.85%	7.35%
9 months 1 day to 1 Year	6.75%	7.25%
1 Year to 15 months	7.40%	7.90%
15 months to 18 months	7.05%	7.55%
18 months to 21 months	7.25%	7.75%
21 months to 2 years	7.05%	7.55%
2 year 1 day to 3 years	7.00%	7.50%
3 year 1 day to 5 years	7.00%	7.50%
5 year 1 day to 10 years	7.00%	7.50%
Source: Bank Website

HDFC Bank FD Rates

On retail term deposits of less than Rs 3 Cr, the bank had last revised its interest rates on 24th July 2024. HDFC Bank now offers interest rates ranging from 3% to 7.00% on terms ranging from 7 days to 10 years. HDFC Bank gives a maximum interest rate of 7.40% on deposits that mature between 4 years, 7 months to 55 months.

The marginal cost of funds-based lending rate (MCLR) at HDFC Bank has increased by as much as five basis points (bps). The updated MCLR interest rates for HDFC Bank currently range from 9.20% to 9.50%. These revised rates are effective as of December 7, 2024 after which HDFC Bank's overnight MCLR increased by 5 basis points, from 9.15% to 9.20%.