Huge interest is being placed on FDs in these banks
If you also have an account with HDFC Bank, then this news is good news for you. In fact, post-budget, the country’s largest private bank HDFC Bank has increased FD rates. The bank has changed the interest rates on FDs maturing within a given time period. The bank has increased the rate on fixed deposits of less than Rs 3 crore by 20 basis points. After which customers will get higher returns on FDs.
The bank is offering an interest rate of 7.40 per cent for FDs maturing in 4 years and 7 months i.e. 55 months, while it is offering a high yield of 7.90 per cent for senior citizens. The new rates increased by the bank come into effect from today.
These are the latest FD rates
The bank offers a 3% interest rate to the general public on fixed deposits with maturity between 7 and 29 days. An interest rate of 3.50% is given on FDs with maturity between 30 and 45 days, while an interest rate of 4.50% is given on FDs with maturity between 46 days and less than six months.
How much return will you get with 6 months of FD?
The bank offers an interest rate of 5.75% on deposits with a maturity of more than six months and less than nine months. The bank offers an interest rate of 6% on deposits with a maturity of between nine months and one day and less than one year.
Bonds with maturity between one year and less than 15 months will get an interest rate of 6.60%, while bonds with maturity between 15 months and less than 18 months will get a yield of 7.10%. The bank is offering 7.25% interest on FDs whose maturity period is less than 18 months to 21 months. HDFC Bank is offering 7% interest rate on deposits with maturity between 21 months to two years and less than eleven months.
Rates have increased on these fixed deposits.
HDFC Bank has increased its FD tenor of 2 years 11 months or 35 months by 20 basis points, following which the interest rate was increased from 7.15 per cent to 7.35 per cent. Also, the bank has increased the interest rate on FDs with maturity of 4 years, 7 months or 55 months, following which it has been increased from 7.20 per cent to 7.40 per cent.
I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,
