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%.