Private sector bank increases interest rates on fixed deposits

Mumbai: Leading private sector bank in the country, HDFC Bank has hiked interest rates on bulk fixed deposits (FDs) of Rs 2 crore to Rs 5 crore. The general depositors will get interest rates between 4.50% and 7.00% on maturity tenors ranging from 7 days to 10 years, while senior citizens can get interest rates between 5.00% and 7.75%.

HDFC Bank isĀ  now offering an interest rate of 4.50% on deposits that mature in the next 7 to 29 days, an interest rate of 5.25% will be given on deposits that mature in the next 30 to 45 days. A deposit tenor of 46 to 60 days is currently eligible for an interest rate of 5.50%, while a deposit tenor of 61 to 89 days is presently eligible for an interest rate of 5.75%.

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The deposits maturing in 90 days to 6 months will earn 6.25% interest, while those maturing in 6 months and 1 day to 9 months now earn 6.50% interest. HDFC bank will now give an interest rate of 6.65% on deposits maturing in 9 months, 1 day to 1 year, and 7.00% on deposits maturing in 1 year to 15 months.


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