HDFC Bank hikes interest rates; details here

Private lender HDFC Bank has hiked interest rates on fixed deposits less than Rs 2 crore across few tenors, as per its official website. These changes are effective from April 6, 2022.

“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 has raised interest rates for one-year FD by 10 bps from 5 per cent in February to 5.10 per cent in April. For one year one day to two years FD, the interest rates have been hiked by 10 bps to 5.10 per cent as well. Interest rate for senior citizens holding these FDs (one year and one year one day to two years) stands at 5.60 per cent.

Interest rates for three one day to five years FD and five years one day to 10 years FD are 5.45 per cent and 5.60 per cent respectively. Senior citizens holding these FDs get 5.95 per cent and 6.35 per cent respectively.

In case of a general FD lasting from 7-29 days, bank offers an interest rate of 2.50 per cent to those below 60 whereas it offers senior citizens an interest rate of 3 per cent. The private lender offers 3 per cent interest to customers having 30-90 days FD whereas senior citizens get 3.50 per cent interest rate in this case.

The bank offers 3.50 per cent interest rate for 91 days-6 months FD whereas it offers an interest rate of 4.40 per cent for 6 months one day to 9 months and 9 months 1 day to less than a year FDs.

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

Also read: HDFC Bank to declare Q4FY22 results on April 16