HDFC Revises Interest Rates On Fixed Deposits, New Rates Effective From 27 June

Over the previous three weeks, several banks & NBFCs have raised their fixed deposit interest rates throughout tenures and on various deposit amounts. This is a ripple effect of the Reserve Bank of India's decision to raise its repo rates by 50 basis points at its monetary policy committee meeting held earlier this month to control the nation's increasing inflation. Following this, several public and private sector banks increased their fixed deposit interest rates. Continuing the FD rates revised, today HDFC, a leading NBFC revised the interest rates on various tenure.

Green Deposits

HDFC's Green & Sustainable Deposits, a product that supports the Sustainable Development Goals (SDGs) of the United Nations. The company's support of UN efforts that actively advance the SDGs is strengthened through this deposit product, and investors may have a positive environmental impact by making deposits through the HDFC Green Deposit programme. The company under this option offers investors three deposit options: Special, Premium, and Regular deposits.

Interest Fate

Under special deposits & premium deposit option, of the green deposit scheme the company offers interest rate options which include a monthly income plan, quarterly option, half-yearly option, annual income plan, and cumulative option. The tenure for special deposits ranges from 33 months to 99 months, and the interest rate is 6.65% to 7.05%. For premium, the tenure ranges from 15 months to 44 months and interest rates are 6% to 6.85%. The regular deposit rates are below:

Regular FD Rates for Domestic Deposits below Rs 2 Crore

PERIOD OF DEPOSIT	Monthly	Quarterly	Half-Yearly	Annual	Cum.Int.
24-35 Months	6.20%	6.25%	6.30%	6.40%	6.40%
36-59 Months	6.40%	6.45%	6.50%	6.60%	6.60%
60-83 Months	6.50%	6.55%	6.60%	6.70%	6.70%
84-120 Months	6.60%	6.65%	6.70%	6.80%	6.80%

HDFC Basic Fixed Deposit

The company under the basic Fixed Deposits scheme, offers three deposits, Special, Premium, and the regular deposits. Under special deposits & premium deposit schemes, the company offers interest rate options which include a monthly income plan, quarterly option, half-yearly option, annual income plan, and cumulative option. The tenure for special deposits ranges from 33 months to 99 months, and the interest rate is 6.65% to 7.05%. For premium, the tenure ranges from 15 months to 44 months and interest rates are 6% to 6.85%. The regular deposit rates are below:

Regular FD Rates for Domestic Deposits below Rs 2 Crore

Period	Monthly Income Plan	Quarterly Option	Half-Yearly Option	Annual Income Plan	Cumulative Option
12-23 Months	5.80%	5.85%	5.90%	-	6.00%
24-35 Months	6.30%	6.35%	6.40%	6.50%	6.50%
36-59 Months	6.50%	6.55%	6.60%	6.70%	6.70%
60-83 Months	6.60%	6.65%	6.70%	6.80%	6.80%
84-120 Months	6.70%	6.75%	6.80%	6.90%	6.90%
Minimum Amount (₹)	₹40,000.00	₹20,000.00	₹20,000.00	₹20,000.00	₹20,000.00

Source - HDFC.com

Please Note

• "Senior Citizens (60 years+) will be eligible for an additional 0.25% p.a. on deposits up to Rs 2 Crore (Other than Recurring Deposits).
• Additional ROI of 0.05% p.a. will be applicable on Individual deposits placed/renewed through the company's Online Deposit system and auto-renewed deposits."
• For the cumulative option, interest is compounded annually.