New Delhi :
The largest private sector lender HDFC Bank has hiked its interest rates on bulk fixed deposits (FDs) of ₹2 Cr to ₹5 Cr.
The general public will get interest rates between 4.50% and 7.00% on maturity buckets ranging from 7 days to 10 years,
while senior citizens can earn between 5.00% and 7.75%.
Due to the revision, deposits maturing in 15 months to 2 years will earn a maximum interest rate of 7.15% for the general public and
a maximum interest rate of 7.75% for senior citizens for deposits maturing in 5 years, 1 day to 10 years. The HDFC Bank’s new bulk fixed deposit rates went into effect on January 27, 2023.
HDFC Bank Bulk FD Rates
The bank is giving an interest rate of 4.50% on deposits that mature in the next 7 to 29 days, and HDFC Bank is offering an interest rate of 5.25% on deposits that mature in the next 30 to 45 days.
A deposit tenor of 46 to 60 days is currently eligible for an interest rate of 5.50% from HDFC Bank,
while a deposit tenor of 61 to 89 days is presently eligible for an interest rate of 5.75%.
Deposits maturing in 90 days to 6 months now earn 6.25% interest, while those maturing in 6 months and 1 day to 9 months now earn 6.50% interest.
The bank will now give an interest rate of 6.65% on deposits maturing in 9 months, 1 day to 1 year, and 7.00% on deposits maturing in 1 year to 15 months, according to HDFC Bank.
On deposits held for 15 months to two years, HDFC Bank will now give an interest rate of 7.15%,
while on deposits held for two years and one day to ten years, the bank is now offering an interest rate of 7.00%.
HDFC Bank Bulk FD Rates (hdfcbank.com)
On deposits maturing in 7 days to 5 years, senior citizens are eligible for an additional interest rate of 50 bps or 0.50% over and above the regular rates.
However, under the Senior Citizen Care FD programme of HDFC Bank, senior citizens would receive an additional premium of 0.25% over and above the regular premium of 0.50% on a deposit tenor of 5 to 10 years.
According to HDFC Bank, this special benefit is available to elderly folks who register fixed deposits under 5 crores for the specified duration.
The offer is active through March 31, 2023.
Only resident senior citizens can take advantage of this special offer throughout the offer period for new fixed deposits as well as renewals
For fixed deposits below ₹2 Cr, HDFC Bank increased interest rates on January 24, 2023.
The bank currently offers interest rates on deposits maturing in 7 days to 10 years that range from 3.00% to 7.00% for the general public and 3.50% to 7.75% for senior citizens in compliance with the revised.
With a deposit tenure of 5 years, 1 day to 10 years, HDFC Bank is now offering a maximum interest rate of 7.00% for non-senior citizens and 7.75% for senior citizens.
