HDFC Bank Raises Interest Rates on Recurring Deposits (RD) Across Maturities

For the second time this month, private sector lender HDFC Bank raised interest rates on fixed and recurring deposits. According to the bank’s official website, the new rates will come into effect on October 26, 2022. The bank last raised interest rates on October 11. Interest rates on fixed deposits increased by up to 50 basis points (bps) at HDFC Bank, and interest rates on recurring deposits increased by up to 45 bps for all maturities. Following today’s increase, HDFC Bank is now offering general customers interest rates on deposits maturing between 7 days and 10 years ranging from 3% to 6.20%.

HDFC Bank RD Rate

HDFC Bank raised interest rates on recurring deposits (RD) across all tenors. On deposits with a 6-month maturity, the bank raised the interest rate by 25 basis points from 4.25% to 4.50% and on deposits with a 9-month maturity, HDFC Bank raised the interest rate by 25 basis points. interest of 25 basis points from 5% to 5.25%. Deposits maturing in 12 months will now earn an interest rate of 6.10%, which was previously 5.70%, an increase of 40 basis points, and those maturing in 15 months at 24 months will now pay an interest rate of 6.15%, which was previously 5.70%, which represents an increase of 45 basis points.

HDFC Bank raised its interest rates from 5.80% to 6.25%, which represents an increase of 45 bps on deposits with maturities of 27 months to 36 months and on deposits with maturities of 39 months to 60 months. %. Deposits maturing in 90 months to 120 months will now earn an interest rate of 6.20%, which was previously 6%, an increase of 20 basis points.

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HDFC Bank RD Rate (hdfcbank.com)

HDFC Bank FD Rates

Over certain terms of term deposits of less than 2 Cr, the bank has raised interest rates by up to 50 basis points effective today, October 26, 2022. On deposits maturing in 2 years, 1 day to 5 years, HDFC Bank will grant a maximum interest rate of 6.25% to the general public, while the bank also offers senior citizens a maximum interest rate of 6.95% on deposits with maturities of 5 years, 1 day to 10 years.

Following today’s hike, the bank raised interest rates on deposits with 46 to 60 day maturities by 50 basis points, from 3.50% to 4.00%, and on deposits maturing in 61 to 89 days by 50 basis points, from 4% to 4.50%. For deposits with maturities of 90 days to 6 months, HDFC Bank raised interest rates by 25 basis points, from 4.25% to 4.50%, and for deposits with maturities of 6 months and 1 day to 9 months, from 5% to 5.25%.

The bank raised the interest rate by 50 basis points from 5% to 5.50% on deposits with maturities of 9 months 1 day to 1 year and those with maturities of 1 year to 15 months will now earn a rate of interest of 6.10%. Deposits with a maturity between 15 months and 2 years will now pay an interest rate of 6.15%, while those with a maturity between 2 and 3 years will now pay an interest rate of 6.25%, compared to 5.80% previously, an increase of 45 basis points. .

On deposits with maturities of 3 years, 1 day to 5 years, HDFC Bank increased the interest rate by 15 basis points, from 6.10% to 6.25%. On deposits with maturities between 5 years, 1 day and 10 years, HDFC Bank increased the interest rate by 20 basis points, from 6% to 6.20%.

HDFC Bank FD Rates

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HDFC Bank FD Rates (hdfcbank.com)

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