HDFC Bank latest FD rates 2023: Private sector giant HDFC Bank has increased the interest rate on bulk deposits. This hike is applicable from March 9.
According to the information available on the bank’s website, now the minimum interest of 4.75 percent and maximum of 7.25 percent will be available on bulk deposits from 2 crores to less than 5 crores. The bank had increased the interest on retail term deposits of less than 2 crores on 21 February. Minimum 3 percent and maximum 7 percent return is available on retail deposits.
How much interest over what period?
According to the information available on HDFC Bank’s website, the interest rate on bulk deposits of 7-29 days has now gone up to 4.75 per cent. 5.50% interest is available on FDs of 30-45 days, 5.75% on FDs of 46-60 days and 6% on FDs of 61-89 days. 6.50% interest is available on FDs ranging from 90 days to 6 months, 6.65% on FDs ranging from 6 months, 1 day to 9 months and 6.75% on FDs ranging from 9 months, 1 day to less than 1 year.
7.25% interest on 1 year FD
7.25% interest is being received on FDs of 1 year to less than 15 months. 7.15% interest will be available on FDs from 15 months to 2 years. 7% interest will be available on FDs ranging from 2 years 1 day to 3 years, 7% interest on FDs ranging from 3 years 1 day to 5 years and 7% interest on fixed deposits ranging from 5 years 1 day to 10 years.
Separate benefit of 25 bps to senior citizens
The minimum interest rate on bulk deposits for senior citizens is 5.25 per cent and the maximum interest rate is 7.75 per cent. If a senior citizen deposits 2 crores to less than 5 crores in FDs ranging from 5 years, 1 day to 10 years, then under the special scheme, till March 31, the interest rate will get the benefit of 25 basis points separately. Meaning, he will get a total interest of 8 percent.
