Since May 2022, RBI has increased the repo rate a total of 5 times. After this increase in the repo rate, many big government and private banks of the country have increased their fixed deposit (FD) rates.
In this sequence, HDFC Bank, the largest private sector lender, has increased the interest rates on bulk FDs from Rs 2 crore to Rs 5 crore. After this increase in interest rates, the bank is paying 4.50% to 7% interest to its general customers on FDs of 7 days to 10 years.
Maximum interest of 7.75% will be available here, while the bank is giving 5% to 7.75% interest to its senior citizen customers on the same time period. Let us tell you, after this increase in interest rates, the bank is giving a maximum interest of 7.15% to its general customers on FDs of 15 months to 2 years.
While the bank is giving maximum interest of 7.75% to its senior citizen customers on FDs of 5 years 1 day to 10 years. According to the information received from the official website of the bank, the increased new interest rates are applicable from January 27
Bank’s increased new FD rates
After this increase in the interest rate, the bank will give its customers 4.50% on FDs of 7 days to 29 days, 5.25% on FDs of 30 days to 45 days, 5.50% on FDs of 46 days to 60 days. And is paying 5.75% interest on FDs of 61 days to 89 days. Whereas the bank will pay 6.25% on FDs of 90 days to 6 months, 6.50% on FDs of 6 months 1 day to 9 months, 6.65% on FDs of 9 months 1 day to 1 year and 7% on FDs of 1 year to 15 months. paying interest.
Additional 0.75% interest is available here
On the other hand, HDFC Bank is giving 7.15% interest on FDs of 15 months to 2 years and 7% interest on FDs of 2 years to 10 years to its customers. In addition, the bank is offering an additional 50 basis points interest over the standard rate on FDs of 7 days to 5 years to its senior citizen customers. While the bank is paying an additional 0.25% interest on FDs of 5 years to 10 years to its senior citizen customers apart from 0.50%.
