HDFC raises FD interest rates effective today, November 18
HDFC Bank, the largest private sector lender, has changed interest rates on fixed deposits worth more than $2 million but less than $5 million.
The new rates are effective today, November 18, 2022, according to the bank’s official website. Domestic, NRO, and NRE deposits are all subject to the increased rates. After the adjustment, the bank currently offers interest rates on deposits due in 7 days to 10 years that range from 3.75 percent to 6.25 percent for the general public and 4.25 percent to 7 percent for senior citizens.
The bank now provides interest rates of 3.75 percent and 4.75 percent on fixed deposits maturing in 7 to 29 days and 30 to 45 days, respectively. HDFC Bank now provides FDs with interest rates of 5% for maturities between 46 and 60 days and 5.25 percent for maturities between 61 and 89 days.
The bank now offers interest rates of 6.5 percent on FDs maturing in 1 year to 15 months and 6 percent on those maturing in 9 months, one day to one year. For FDs due in two years or less, HDFC Bank now guarantees an interest rate of 6.5 percent, and for FDs maturing in 15 months to two years, it guarantees an interest rate of 6.8 percent.
Interest will now be paid on deposits with maturities of 3 to 10 years at a rate of 6.25 percent. Only retirees and senior citizens who are residents and at least 60 years old are eligible for the higher interest rates. Senior Citizens who book new Fixed Deposits or Renewals within the aforementioned term are eligible for this special offer. This offer is not available to NRIs.
