India’s largest private Ltd bank, HDFC Bank Ltd, has increased the fixed deposit interest rate below Rs 2 crore. All these rates are effective today ( 18th May, 202), which may result in the changes in interest rates on different tenors, which have also been raised.
Here is the following interest rate:
07 to 29 days – 2.50%
30 to 90 days – 3.00 %
91 to 180 days – 3.50%
181 to 270 days – 4.40%
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On term deposits, the bank has used this given interest rate to their customers will be 180 days to less than 1year- 4.40 per cent, which has been increased by 4.50 per cent which may result in a hike of 10 bps, 1 Year to 2 year- 5.10 per cent.
Last month, HDFC Bank provided an interest rate of more than 2 years to 3 years was 5.20 per cent, but it has been increased by 20 basis points to 5.40 per cent. Also, depositing maturity in more than 3 years to 5 years was 5.45 per cent which may raise the interest rate to 5.60 per cent.
The interest rate for deposits maturing in 5 years 1 day – 10 years previously was 5.60 per cent, but it has now been increased by 15 basis points to 5.75 per cent.
