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RD Rates 2022: HDFC Bank Giving These Rates On RD (W.e.f 6th April 2022)
HDFC Bank, a private sector lender, announced new interest rates for savings bank accounts, fixed deposits, and recurring deposits on April 6, 2022. The bank made this modification ahead of the Reserve Bank of India's (RBI) first bi-monthly policy review meeting of the financial year scheduled on April 8. Recurring deposits, which may be created with a minimum deposit of Rs. 1000 and in multiples of Rs. 100 thereafter or as much as Rs. 1,99,99,900 every month, are available to investors who choose to avoid lump sum deposits and prefer to invest on a regular or monthly basis. The account can be established for a minimum of six months up to a maximum of ten years. Individuals, Hindu Undivided Families (HUFs), companies, trusts and societies are all eligible to invest in HDFC Bank's recurring deposits. After the account is opened, the investor is only paid interest when the account matures.
HDFC Bank Regular RD Rates
HDFC Bank would offer 3.50 percent interest on recurring deposits (RDs) of less than Rs 2 crore maturing in 6 months. The interest rate for RDs maturing in 9 months will be 4.40 percent. On RDs maturing in 12 months to 24 months, the general public will get a 5.10 percent interest rate. On RDs maturing in 27 months to 36 months, the bank is currently paying a 5.20 percent interest rate. The interest rate on recurring deposits maturing in 39 months to 60 months is 5.45 percent. On RDs maturing in 90 to 120 months, HDFC Bank would now pay a 5.60 percent interest rate.
| Period | Interest Rate (per annum) | Effective From |
|---|---|---|
| 6 Months | 3.50% | Aug 25, 2020 |
| 9 Months | 4.40% | Aug 25, 2020 |
| 12 Months | 5.10% | Apr 6th, 2022 |
| 15 Months | 5.10% | Apr 6th, 2022 |
| 24 Months | 5.10% | Apr 6th, 2022 |
| 27 Months | 5.20% | Jan 12, 2022 |
| 36 Months | 5.20% | Jan 12, 2022 |
| 39 Months | 5.45% | Feb 14, 2022 |
| 48 Months | 5.45% | Feb 14, 2022 |
| 60 Months | 5.45% | Feb 14, 2022 |
| 90 Months | 5.60% | Jan 12, 2022 |
| 120 Months | 5.60% | Jan 12, 2022 |
| Source: Bank Website |
HDFC Bank RD Rates For Senior Citizens
For resident senior citizens, the bank offers an additional rate of 0.50% over and adobe the regular rate on deposits maturing in 6 months to 60 months. Under the "Senior Citizen Care FD"the bank also offers an additional premium of 0.75% to senior citizens having RD accounts. For the same, HDFC Bank has mentioned on its website that "Senior Citizen Care deposit (w.e.f 18th May'20) : An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May'20 to 30th Sep'2022. This special offer will be applicable to new Fixed Deposit booked as well as for the Renewals, by Senior Citizens during the above period."
| Period | Interest Rate (per annum) | Effective From |
|---|---|---|
| 6 Months | 4.00% | Aug 25, 2020 |
| 9 Months | 4.90% | Aug 25, 2020 |
| 12 Months | 5.60% | Apr 6th, 2022 |
| 15 Months | 5.60% | Apr 6th, 2022 |
| 24 Months | 5.60% | Apr 6th, 2022 |
| 27 Months | 5.70% | Jan 12, 2022 |
| 36 Months | 5.70% | Jan 12, 2022 |
| 39 Months | 5.95% | Feb 14, 2022 |
| 48 Months | 5.95% | Feb 14, 2022 |
| 60 Months | 5.95% | Feb 14, 2022 |
| 90 Months | 6.35% | Jan 12, 2022 |
| 120 Months | 6.35% | Jan 12, 2022 |
Note
The interest rates on savings bank accounts at HDFC Bank have also been updated on 6th April 2022. HDFC Bank is giving a 3% annual interest rate on savings accounts with balances under Rs 50 lakh and on savings balances of more than Rs 50 lakh, the rate of interest on savings bank deposit accounts would be 3.50 percent following the adjustment. On the same date, the interest rate has also been revised on fixed deposits of less than Rs 2 crore that mature in one year to two years by HDFC Bank by 10 basis points to 5.10 per cent from 5 per cent.
