HDFC Bank has again increased the rate of fixed deposits. After the increase in the repo rate, HDFC Bank increased the rate of FD on Thursday. The FD rate has been increased by 40 basis points. Two months back also, HDFC Bank had increased the FD rate.
The new rates have come into effect from August 18, 2022. However, the rates have been increased only for FDs of less than Rs 2 crore. The Reserve Bank had recently increased the repo rate. After that there is an increase in the FD rate of banks. Earlier, State Bank has also increased the FD rate. Along with this, a new FD scheme has been started on the 75th anniversary of independence.
According to HDFC Bank, 5.50 percent interest will be available on FDs with a tenor of one year to two years. Earlier, 5.35 percent interest was available on FDs of the same period. In this way, the FD rate maturing in one to two years has been increased by 15 basis points.
FDs maturing in two years one day to three years will also get 5.50 percent interest. FDs maturing in three years from one day to five years will get 6.10 percent interest. Earlier, 5.70 percent interest was available on this FD. In this way, up to 40 basis points have been increased.
Latest HDFC Bank Interest Rate
| Tenor Bucket | < 2 Crore | |
|---|---|---|
| Interest Rate (per annum) | **Senior Citizen Rates (per annum) | |
| 7 – 14 days | 2.75% | 3.25% |
| 15 – 29 days | 2.75% | 3.25% |
| 30 – 45 days | 3.25% | 3.75% |
| 46 – 60 days | 3.25% | 3.75% |
| 61 – 89 days | 3.25% | 3.75% |
| 90 days – 6 months | 3.75% | 4.25% |
| 6 mnths 1 days – 9 mnths | 4.65% | 5.15% |
| 9 mnths 1 day < 1 Year | 4.65% | 5.15% |
| 1 Year | 5.50% | 6.00% |
| 1 year 1 day – 2 years | 5.50% | 6.00% |
| 2 years 1 day – 3 years | 5.50% | 6.00% |
| 3 year 1 day- 5 years | 6.10% | 6.60% |
| 5 years 1 day – 10 years | 5.75% | 6.50%* |
2.75 percent interest is being given on FDs of 7 to 14 days and 3.25 percent interest is being given to senior citizens. 2.75 percent interest is being given on FD of 15 to 29 days and 3.25 percent interest is being given to senior citizens. On FDs of 30 to 45 days, 3.25 percent interest is being given to common people and 3.75 percent to senior citizens. Similarly, 3.25 percent interest is being given on 46 to 60 days and 3.75 percent for senior citizens, 3.25 percent for 61 to 89 days and 3.75 percent for senior citizens.
Hdfc Bank Interest Rate
Interest is being given on FDs of 90 days to 6 months, 3.75 percent and 4.25% for senior citizens, 4.65 percent on FDs of 6 months 1 day to 9 months and 4.25% for senior citizens. 4.65 per cent on FDs of 9 months 1 day to 1 year and 5.15 per cent to senior citizens, 5.50 per cent to 1 year FDs and 6% to senior citizens, 5.50 per cent on FDs of 1 year one day to 2 years and 6% to senior citizens , 5.50 percent on FDs of 2 years one day to 3 years and 6% for senior citizens, 6.10 percent on FDs of 3 years one day to 5 years and 6.60 percent for senior citizens and 5.75 on FDs of 5 years one day to 10 years 6.50 percent interest is being given to percent and senior citizens.
FD hike after repo rate hike
On 8 August 2022, the Reserve Bank of India increased the repo rate by 50 basis points. This was the third time that the RBI had increased the repo rate after May 2022. In this way, the Reserve Bank has increased the repo rate by 140 basis points so far. After this increase, banks have started increasing the FD rate. This is good news for the customers as they were getting low rates for many years, but now the increase is being seen.
