The mortgage lender has raised interest rates on FDs maturing between 33 and 99 months by up to 25 basis points (bps). One bps equals 0.01 per cent. The rates are effective 30 March. The 33-month fixed deposit will now fetch a 6.2 per cent annualized return. The 66-month fixed deposit and 99-month fixed deposit will offer 6.5 per cent and 6.65 per cent annualized return respectively. Besides, senior citizens will get a 25 bps additional rate over and above the prevailing interest rates.
HDFC Bank has AAA rating from both CRISIL and ICRA for 25 consecutive years.
According to financial planners, a common approach that an investor must follow while investing in any debt products is to look for safety, liquidity and then returns. Nishith Baldevdas, founder. The government, meanwhile, has withdrawn the order, issued on Wednesday, which had cut interest rates on small saving schemes such as Public Provident Fund (PPF) and National Saving Certificate (NSC). Interest rates on these are now same as that of March.