HDFC Bank has revised its fixed deposit (FD) interest rates on select maturities. According to the latest HDFC Bank FD rates, the bank is offering 6.60 per cent interest rate on maturity period of one year to the general public on FDs of up to Rs 2 crore. On maturity periods such as 1 year 1 day-2 years, the bank is offering an interest rate of 6.60 per cent and 7.10 per cent to the general public and senior citizens respectively. Previously, the public sector bank paid interest rates of 6.80 per cent and 7.30 per cent to general public and senior citizens respectively on this maturity.
On fixed deposits of 2 years 1 day-3 years maturity period, the private sector bank has lowered its interest rates by 10 basis points. After the recent revision, HDFC Bank is offering interest at the rates of 7.00 per cent and 7.50 per cent on such fixed deposits to the general public and senior citizens respectively.
Here are the interest rates applicable to HDFC Bank's fixed deposits (FD) below Rs. 2 crore with effect from Septmeber 13, 2019, according to hdfcbank.com:
|Period||< 2 Crore|
|Interest Rate||Senior Citizen Rates|
|(per annum)||(per annum)|
|91 days-6 months||5.65%||6.15%|
|6 mnths 1 day- 9 months||6.25%||6.75%|
|9 mnths 1 day- < 1 Year||6.35%||6.85%|
|1 year 1 day- 2 years||6.60%||7.10%|
|2 years 1 day- 3 years||7.00%||7.50%|
|3 year 1 day- 5 years||6.90%||7.40%|
|5 years 1 day- 10 years||6.90%||7.40%|
Fixed deposit interest rates are subject to change from time to time. Earlier this month, State Bank of India (SBI) lowered its FD rates by 20-25 basis points (or 0.20-0.25 percentage point) across tenors in the retail segment, and bulk segment saw a reduction of 10-20 basis points (or 0.10-0.20 percentage point).