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HSBC India raises interest rates on FDs; senior citizens earn 7.50% on select tenure

HSBC India raises interest rates on FDs; senior citizens earn 7.50% on select tenure

HSBC India is currently providing senior citizens with a maximum standard interest rate of 7 per cent and 7.50 per cent.

The bank offers a 3.75 per cent interest rate on FDs maturing in 600 days The bank offers a 3.75 per cent interest rate on FDs maturing in 600 days

HSBC India has increased interest rates on domestic fixed deposits of less than Rs 2 crore. According to the bank's official website, the new rates came into effect from December 19, 2022.

The bank now offers interest rates on deposits maturing in 7 days to 60 months that range from 2.85 per cent to 6.00 per cent for the general public and from 3.35 per cent to 6.50 per cent for senior citizens as a result of the most recent amendment. On deposits maturing in 36 months to less than 37 months, HSBC India is currently providing senior citizens with a maximum standard interest rate of 7 per cent and 7.50 per cent.

On deposits that mature in 7 to 8 days, the bank offers a 2.85 per cent interest rate. HSBC India offers a 3 per cent interest rate on deposits that mature in 9 to 29 days. The interest rates offered by HSBC India for FDs that mature in 30 to 59 days and 60 to 89 days are 3.40 per cent and 3.60 per cent, respectively. Interest will now be paid on deposits with maturities of 90 to 94 days and 95 to 179 days at rates of 3.80 per cent and 4.00 per cent, respectively.

On deposits that mature in 180 days, the bank offers an interest rate of 4.50 per cent, and HSBC Bank offers an interest rate of 3.25 per cent on deposits that mature in 181 to 269 days. HSBC Bank offers an interest rate of 3.25% on deposits that mature in 400 days and an interest rate of 3.10 per cent on deposits that mature in 270 days to 399 days. Deposits maturing in the following 401 days to under 18 months will now earn interest at a rate of 6.25 per cent, while those maturing in the following 18 months to 599 days will do so at a rate of 3.30 per cent.

The bank offers a 3.75 per cent interest rate on FDs maturing in 600 days and 601 to 699 days. HSBC Bank is offering interest rates of 3.30 per cent. Deposits maturing in 700 days will earn 3.75 per cent interest from HSBC Bank, while deposits maturing in 701 to 731 days will earn 3.50 per cent interest. Deposits maturing in 732 days to less than 36 months earn a 6.50 per cent interest rate, while deposits maturing in 36 months to less than 37 months earn a 7.00 per cent interest rate. HSBC Bank offers a 6.00 per cent interest rate on FDs with maturities ranging from 37 to 60 months.

Published on: Dec 25, 2022, 7:05 PM IST
Posted by: Shubham Singh, Dec 25, 2022, 7:00 PM IST