HDFC Bank, a private sector lender, has raised interest rates on fixed deposits of less than Rs 2 crore for selected tenors, with the higher rates taking effect from April 6, 2022.
According to the bank’s website, HDFC Bank has increased its one-year FD interest rate by 10 basis points to 5.10 percent from 5 percent, and its one year one day to two years FD has also been increased by 10 basis points to 5.10 percent from 5 percent.
Furthermore, the bank would keep paying a 25 basis point premium to elderly individuals with fixed deposits of less than Rs 5 crore that are held for a period of five years. This unique offer will be given in addition to the regular 50 basis point premium and will be valid for new fixed deposit bookings as well as renewals.
In February, the bank increased the 1-year FD interest rate by 10 basis points to 5% from 4.9 percent and the 3-year to 5-year FD interest rate by 5 basis points to 5.45 percent from 5.40 percent.
The Reserve Bank of India (RBI) will release the latest repo and reverse repo at its monetary policy review to be announced on April 8, 2022.
Source : https://economictimes.indiatimes.com/wealth/invest/hdfc-bank-hikes-fd-interest-rates-of-these-tenures-get-the-latest-rates-here/articleshow/90677642.cms