New Delhi: Interest rates for fixed deposits worth more than $2 million and less than $5 million have been revised by HDFC Bank, the largest private sector lender. According to the bank’s official website, the new rates are in effect as of today, November 18, 2022. The new rates apply to domestic, NRO, and NRE deposits. Following the change, the bank now provides interest rates on deposits maturing in 7 days to 10 years ranging from 3.75 percent to 6.25 percent for the general public and 4.25 percent to 7 percent for senior citizens.
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For fixed deposits that mature in 7 to 29 days and 30 to 45 days, the bank currently offers interest rates of 3.75 percent and 4.75 percent, respectively. Now, HDFC Bank offers FDs with interest rates of 5 percent for those with maturities between 46 and 60 days and 5.25 percent for those with maturities between 61 and 89 days.
The bank is currently offering an interest rate of 6 percent on FDs maturing in 9 months, 1 day to 1 year, and 6.5 percent on those maturing in 1 year to 15 months. Currently, HDFC Bank is guaranteeing an interest rate of 6.5 percent on FDs maturing in two years or less and 6.8 percent on those maturing in 15 months to two years.
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Deposits with maturities between three years and ten years will now earn interest at a rate of 6.25 percent. The higher interest rates are only available to retirees and older adults who are residents and at least 60 years old. This special offer will be valid for Senior Citizens who book new Fixed Deposits as well as Renewals within the aforementioned timeframe. NRIs are not eligible for this deal.
