HDFC Bank Hikes Interest Rates On Bulk Fixed Deposits: Check Revised Rates For Senior Citizens

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HDFC Bank FD Interest Rate Hike: After the latest interest rate hike, the HDFC Bank said it is now offering interest rates on deposits with terms ranging from 7 days to 10 years that range from 4.75% to 7.00% for the general public and 5.25% to 7.75% for senior citizens.

HDFC Bank FD Interest Rate Hike: Known as India’s largest private sector bank, HDFC Bank on Saturday said it hiked interest rates on bulk fixed deposits (FDs) of more than Rs 2 Crore to Rs 5 Crore. Notably, the bank has hiked the FD interest rate in line with the RBI’s repo rate hike by 25 basis points to 6.50 percent on February 8. According to the official website of HDFC Bank, the latest FD rates are effective from 17 February 2023.

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After the latest interest rate hike, the HDFC Bank said it is now offering interest rates on deposits with terms ranging from 7 days to 10 years that range from 4.75% to 7.00% for the general public and 5.25% to 7.75% for senior citizens.

Currently, HDFC Bank offers interest rates of 5.75% for deposits for 46 to 60 days and 6.00% for deposits for 61 to 89 days.

The Fixed Deposits that mature in 90 days to 6 months now earn 6.50% interest, while those maturing in 6 months, 1 day to 9 months now earn 6.65% interest. However, o the bulk fixed deposits maturing 9 months 1 day to 1 Year, the bank is offering an interest rate of 6.75% and on those maturing in 1 year to 15 months, HDFC Bank will now offer an interest rate of 7.00%.

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The HDFC Bank said it will now offer an interest rate of 7.15% on a deposit tenor of 15 months to 2 years and an interest rate of 7.00% on a deposit tenor of 2 years 1 day to 10 years.

As per the HDFC Bank website, the senior citizens will get an additional interest rate of 0.50% over and above the regular rates on bulk fixed deposits of HDFC Bank maturing in 7 days to 5 years. And the senior citizens and retired employees who are Indian residents and at least 60 years old are eligible for additional interest rate benefits.