HDFC Bank Hikes FD Rates: Now you will get more interest on FD, HDFC Bank raises interest rates
FD Rates: HDFC Bank has announced an increase in interest rates on fixed deposits for the second time in a week following the RBI’s decision to raise repo rates.
HDFC Bank Hikes FD Rates: Good news for those who keep their hard earned money in the bank in the form of Fixed Deposit. HDFC Bank has announced an increase in interest rates on fixed deposits for the second time in a week following the RBI’s decision to raise repo rates. HDFC Bank has increased FD rates by 25 basis points with effect from June 17, 2022. These interest rates are Rs. Applies to FDs less than 2 crores.
An increase of 25 basis points in the FD rate
1) Interest rate on 7 to 29 day FDs will be increased from 2.50% to 2.75%.
1) Interest rate on 7 to 29 day FDs will be increased from 2.50% to 2.75%.
2) 30 days to 90 days FD will get 3.25% interest instead of 3%.
3) 91 days to 6 months FD will get 3.75% interest instead of 3.50%.
4) FDs with maturity of 1 to 2 years will earn 5.35% interest instead of 5.10%.
5) FDs with a term of 2 years will get 5.50% interest, which was earlier 5.40%.
6) FDs with term of 3 years 1 day to 5 years will earn 5.70% interest, which was earlier 5.60%.
Other banks will also raise the FD rate
Earlier, on June 15, 2022, HDFC Bank announced a 25 basis point increase in interest rates. However, following the RBI’s decision to raise the repo rate, many banks have increased their fixed deposits. And it is believed that many other banks may raise interest rates on FDs.
