scorecardresearchHDFC Bank raises interest rates on savings, fixed deposits. Check the latest rates

HDFC Bank raises interest rates on savings, fixed deposits. Check the latest rates

Updated: 06 Apr 2022, 01:00 PM IST
TL;DR.

Depositors can now earn an interest of 5.10 percent against 5 percent earlier on their one-year fixed deposits

Now, depositors can earn an interest of 5.10 percent against 5 percent earlier on one-year FDs for less than  <span class='webrupee'>₹</span>2 crore

Now, depositors can earn an interest of 5.10 percent against 5 percent earlier on one-year FDs for less than 2 crore

HDFC Bank has again raised interest rates on fixed deposits of less than 2 crore for selected tenors, with effect from April 6, 2022.

Now, depositors can earn an interest of 5.10 percent against 5 percent earlier on their one-year fixed deposits for less than 2 crore. The bank also raised interest for deposits with tenure between one year one day to two years from 5 percent to 5.10 percent.

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.

HDFC also announced a rate hike for the fixed deposit (FD) holders on FDs amounting to less than 2 crore w.e.f. February 14.

Tenor  Interest (%)
1 year5.10 
1 year one day to 2 years5.10
2 years one day to 3 years5.20
3 years one day to 5 years5.45
5 years one day to 10 years5.60

The bank announced to offer an interest rate of 5.45 per cent for FDs maturing between three years one day to five years.

Prior to that in January, HDFC Bank raised the FD interest rates amounting to less than 2 crore by five to ten basis points.

Interest rate on savings account

The rate of interest for savings bank deposit accounts has also been revised, as per details given on the bank's website.

Amount (Rs)Interest (%)
Less than 50 lakh
More than 50 lakh3.5 
First Published: 06 Apr 2022, 12:55 PM IST