HDFC Bank hikes fixed deposit interest rates by 5-10 bps; check rates here 

After State Bank of India (SBI), India’s largest private lender HDFC Bank has hiked interest rates on fixed deposits less than Rs 2 crores by 5-10 basis points across multiple tenors. HDFC Bank has increased one year FD interest rate by 10 basis points to 5 per cent from 4.9 per cent and 3 years-5 years by 5 basis points to 5.45 percent from 5.40 per cent, according to the bank’s website.   Moreover, the bank will continue to offer an additional premium of 25 basis points to senior citizens whose fixed deposits are less than Rs 5 crore and last for a period of 5 years. This special offer shall be given over and above the already existing premium of 50 basis points and will be applicable for new fixed deposits booked and for renewals. Non-resident Indians cannot avail this offer.  HDFC Bank latest FD interest rates  

“Interest rates are subject to change from time to time. Applicable interest rates will be given as on the date/time of receipt of the funds by the bank,” the website read. The bank also stated the interest rates, applicable on multiple deposits, across all channels, made by a single customer in a single day in one particular tenor bucket, will be the rate applicable for aggregate value.  Tenor bucket implies the various tenure slabs as updated in the interest rate sheet on the website like 1 year 1 day to 2 year is one particular tenor bucket.   The private sector lender had hiked interest rates on FDs by 10 basis points across multiple tenors in December 2021 as well. Meanwhile, HDFC Bank had reported an 18.1 per cent rise in its standalone profit at Rs 10,342.20 crore for Q3 ended December 2021. Total income on a standalone basis rose to Rs 40,651.60 crore in the October-December quarter of FY2021-22.

Also read: SBI hikes interest rates on long-term fixed deposits; check latest rates here

Also read: HDFC Bank raises FD interest rates; check details here