Good news for FD investors! HDFC Bank hikes fixed deposit interest rates, check new FD rates

New Delhi: In what could be good news for fixed deposit investors, HDFC Bank has increased the FD interest rate. India’s biggest private sector lender has increased the FD interest rates for deposits across various tenors. According to the latest notification by HDFC, the interest has been increased for FDs worth Rs 2 crore or less. Prior of HDFC Bank, several other public and private sector lenders increased the interest rates on FD investments. Some of the banks, which have taken such a move following the Reserve Bank of India’s decision to increase the repo rates by 40 basis points, are ICICI Bank, Axis Bank, Canara Bank, and State Bank of India. 

HDFC Bank has increased the interest rates on FD investments in the range of 10 to 20 basis points. The private lender will continue to offer an additional interest of 0.50% on select investments made by senior citizens. The latest revision in the FD interest rate will come into effect on May 18, 2022. 

HDFC Bank Latest FD Interest Rates 

HDFC Bank is offering 2.50% interest rates to FD investors who will invest for a term period of 15 days to 29 days. The bank is providing a 3.00 per cent on FD investments with a term period of 30 days to 45 days. The bank offers a similar interest rate on investments with a lock-in period of 61 days to 90 days. 

Investors can get returns at 3.50 per cent and 4.40 per cent on HDFC Bank FD investments with a maturity period of 91 days to 120 days and 6 months 1 day to 9 months, respectively. Also Read: Cheque bounce cases: SC orders constitution of special court for expeditious disposal of cases

Further, the bank is offering 4.45 per cent returns on FDs maturing in 9 months 1 day to less than a year. Investors can get the highest return at a 5.75 per cent rate on investments with a term period of 5 years 1 day to 10 years. The bank is offering a 6.50 per cent interest rate on such FD investments made by senior citizens. Also Read: Dearness Allowance Hike: Bumper news for Railway employees! DA increased by 14%, big arrears included too