HDFC Bank FD Interest Rate hike in its fixed deposit (FD) interest rates announced. For general citizens, the bank is now offering an interest rate of 4.40% on FDs with a tenure of 4 years and 7 months (55 months), while senior citizens can avail a higher rate of 7.90% for the same period.
Good News for FD Account Holders
There’s good news if you’re considering opening an FD account with HDFC Bank. Following the recent budget presentation, HDFC, the largest private sector bank, has increased its HDFC Bank FD Interest Rate rates by 20 basis points for deposits up to Rs 3 crore. Effective from July 24, 2024, the highest interest rates now stand at 7.40% for general citizens and 7.90% for senior citizens for a tenure of up to 55 months.
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HDFC Bank FD Interest Rate for Different Tenures
- 7 to 29 days: 3% interest for general citizens
- 30 to 45 days: 3.50% interest
- 46 days to 6 months: 4.50% interest
- 6 to 9 months: 5.75% interest
- More than 9 months to less than 1 year: 6% interest
Updated Rates for Longer Tenures
- 1 year to less than 15 months: 6.60% interest
- 15 months to less than 18 months: 7.10% interest
- 18 months to less than 21 months: 7.25% interest
- 21 months to less than 2 years and 11 months: 7% interest
Increased Rates for Specific Periods
- 2 years 11 months (35 months): Interest rate increased by 20 bps from 7.15% to 7.35%
- 4 years 7 months (55 months): Interest rate increased by 20 bps from 7.20% to 7.40%
Special Rates for Senior Citizens
For fixed deposits with a tenure of 4 years and 7 months (55 months), HDFC Bank FD Interest Rate offers a 4.40% interest rate to general citizens, while senior citizens can benefit from a higher rate of 7.90%.
by – dailybharat
