Starting from January 12, 2022, HDFC bank has increased its FD (fixed deposit) interest rates. According to the website, the interest rates for FDs are worth less than Rs 2 crore and the maturity period is increased. The interest rate for FDs for a tenure of 2 years 1 day, but less than 3 years will have an interest rate of 5.2% and for 3 years 1 day to 5 years it will be 5.4% and for 5 years 1 day and so on, the rates will be 5.6%.
HDFC Bank notified the customers of the bank using SMS and emails. It also notified the same on their website. “Great News! Improved Fixed Deposit interest rates for tenure 3 years 1 day to 5 years on amount Bank FD,” the notification on the website read.
You can check out the latest FD rates on hdfc.com
They also provided a list of FDs that customers can opt from with new interest rates. According to the new plans, the FD rates are applicable for resident customers and not NRIs. The minimum tenure for getting the interest on FD is 7 days. The interest is calculated by the number of days in a year.
However, for short term fixed deposits, the interest rates will remain the same.
- For the maturity of 7 to 29 days: 2.5 per cent per annum
- For the maturity of 30 to 90 days: 3 per cent per annum
- For the maturity of 91 to 180 days: 3.5 per cent per annum
- For the maturity of 6 months to 1 day less than a year: 4.4 per cent per annum
- For the maturity of 1 year: 4.9 per cent per annum
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