Deposits with a term of 46 to 60 days will earn 4 percent interest. For term deposits maturing 30 to 45 days, the bank is offering 3.5 percent interest. HDFC Bank is giving an interest rate of 3 percent for deposits maturing in 7 to 29 days. Banks like ICICI Bank, Kotak Mahindra Bank, State Bank of India (SBI), Axis Bank, IDFC First Bank and RBL Bank have hiked interest on term deposits recently as well.

For senior citizens, these rates are between 3.5 percent and 7 percent. On FDs maturing in 7 days to 10 years, the bank is offering interest between 3 percent and 6.25 percent to the general public.

The rates have been raised by up to 35 basis points (bps) on deposits of various tenors. The revised interest rates came into effect on 8 November.

Taking a cue from the RBI, HDFC Bank has raised the interest rates on fixed deposits (FDs) below Rs 2 crore. In case of premature closure of FD post 5 years, the interest rate will be 1.25 per cent less (penalty as applicable) than the rate on the date of deposit booked, to the period for which the deposit remained with the bank and not at the contracted rate.Banks have been raising their interest rates on fixed deposits (FDs) after the Reserve Bank of India (RBI) started hiking the repo rate since May this year. In case of premature closure of FD on or before 5 years, the interest rate will be 1.00 per cent less (penalty as applicable) than the rate on the date of deposit booked, to the period for which the deposit remained with the bank and not at the contracted rate. The interest rate for premature withdrawal is adjusted by 1 per cent lower as applicable based on the date of deposit booking and the period it remained with the bank, effective from July 22, 2023. The offer duration is from May 18, 2020, until November 7, 2023.Ĭonvenient booking options are available through mobile, NetBanking, or by visiting the nearest HDFC Bank branch.Īn additional premium of 0.25 per cent (over and above the existing 0.50 per cent) is offered during the special deposit offer period. The interest rate applicable for both new FDs and renewals for Senior Citizens with deposits below Rs 5 crore. Suitable for those looking to book a Fixed Deposit of less than Rs 5 crore.Ĭovers deposit tenures ranging from 5 years one day to 10 years. The Senior Citizen Care FD holders get an extra 0.75 per cent interest rateĮligible for resident senior citizens aged 60 years and above (not applicable to NRIs). Key Details of the Senior Citizen Care FD:

Fixed deposit rate of hdfc bank