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Private sector bank hikes fixed deposit interest rates again

Mumbai: Leading private sector lender in the country, HDFC Bank has once again hiked its fixed deposit interest rates. The lender has increased the interest rates for fixed deposit less than Rs 2 crore.

The bank increased interest rates on deposits maturing in 15 months to 10 years by up to 35 bps. Now, HDFC Bank is providing interest rates on fixed-term deposits (FDs) maturing in 7 days to 10 years that range from 3% to 6.25% for the general public and from 3.50% to 7.00% for senior citizens.

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The bank will continue to give an interest rate of 3.00% on deposits maturing in the next 7 to 29 days and an interest rate of 3.50% on deposits maturing within the next 30 to 45 days. Deposits that mature in 46 to 60 days will get 4.00% interest and that mature in 61 days to 6 months will get 4.50% interest. The interest rates offered by HDFC Bank will remain at 5.25% for deposits maturing in 6 months, 1 day to 9 months, and 5.50% for deposits maturing in 9 months, 1 day to 1 year.

On deposits maturing in 1 year 1 day to 15 months, HDFC Bank will continue to offer an interest rate of 6.10% but on those maturing in 15 months 1 day to 18 months, the bank has hiked the interest rate to 6.40%. Deposits maturing in 18 months to 2 years will fetch an interest rate of 6.50%. On deposits maturing in 2 years, 1 day to 5 years, HDFC Bank increased the interest rate to 6.50% and on deposits maturing in 5 years, 1 day to 10 years, the bank increased the interest rate to 6.25%.




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