HDFC Bank increased FD interest rates
HDFC Bank has also implemented the new interest rates raised on fixed deposits (FDs) of different tenures with an amount less than Rs 2 crore from June 17, 2022. However, HDFC Bank has also clarified certain things for NRO and NRE fixed deposits.
If you are HDFC Bank (HDFC Bank) If you are a customer, then surely your heart will be happy after reading this news. Yes, HDFC Bank of the private sector has announced an increase in fixed deposit interest rates for the second time within a week. The bank has also implemented the new interest rates raised on fixed deposits (FDs) of different tenures with an amount less than Rs 2 crore from June 17, 2022. However, HDFC Bank has also clarified certain things for NRO and NRE fixed deposits. According to the information received from the bank’s website, the benefit given to senior citizens will not be available on FDs made by NRIs. Apart from this, the tenure of NRE deposit should be at least 1 year.
Duration | less than Rs 2 crore | |
---|---|---|
Interest Rate (For Common Citizen) | Rate of interest (for senior citizens) | |
7 – 14 days | 2.75% | 3.25% |
15 – 29 days | 2.75% | 3.25% |
30 – 45 days | 3.25% | 3.75% |
46 – 60 days | 3.25% | 3.75% |
61 – 90 days | 3.25% | 3.75% |
91 days – 6 months | 3.75% | 4.25% |
6 months 1 day – 9 months | 4.65% | 5.15% |
9 months 1 day | 4.65% | 5.15% |
1 year | 5.35% | 5.85% |
1 year 1 day – 2 years | 5.35% | 5.85% |
2 years 1 day – 3 years | 5.50% | 6.00% |
3 years 1 day – 5 years | 5.70% | 6.20% |
5 years 1 day – 10 years | 5.75% | 6.50%* |
5.75 percent interest will now be available on FDs with a tenure of 5 years to 10 years
HDFC Bank is giving an interest of 5.35 percent on FDs from 1 year to 2 years, while it is giving an interest of 5.50 percent on FDs of 2 years to 3 years. It is giving an interest of 5.70 percent on FDs of 3 years to 5 years and 5.75 percent on FDs of 5 years to 10 years. Let us inform that the senior citizens living in the country are being given an additional interest of 0.50 percent as compared to the normal citizens.
Reserve Bank of India had increased the repo rate on June 8
Let us inform that since the increase in the repo rate by the Reserve Bank of India on June 8, all the banks in the country have started paying more interest on FD, RD and savings accounts than before to woo their customers. However, many banks have not changed the interest rates offered on the savings account or have made very minor changes.
Reserve Bank of India Governor Shaktikanta Das had on June 8 announced an increase of 50 basis points in the repo rate from 4.40 percent to 4.90 percent. After this announcement of RBI, all banks have also increased the interest rates of loans.
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