HDFC bank raises FD interest rates by 5-10 basis points for these mandates: check details
“Good News! Improved Interest Rates on Fixed Deposits for 3 Years Term 1 Day to 5 Years on Bank FD Now Amount: hdfcbk.io/3ZXV3CKLGJnA *T&Cs apply. Rates are subject to change,” HDFC Bank has sent a notification regarding the FD rate hike to some of its customers via SMS.
Source: HDFC Bank website
According to the bank’s website, HDFC Bank will continue to offer an interest rate of 2.50% on deposits with a maturity of 7 to 29 days and an interest rate of 3% on FDs. a maturity of 30 to 90 days. 3.5% for FDs with a duration of 91 days to 6 months and 4.4% for FDs with a duration of 6 months 1 day to less than one year. On the one-year FDs, the bank is offering 4.9%.
FD rates from other banks
Compared to this, for deposits below Rs 2 crore, the State Bank of India (SBI) offers interest rates in the range of 2.9-5.4% on FDs with different tenors ranging from 7 days to 10 years. ICICI Bank FD rates range from 2.5% to 5.5% for maturities between 7 days and 10 years.