HDFC Bank reduced interest rates on FD, know how much interest you will get on investment now
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On one hand, the central government has increased its interest rates on small savings schemes. On the other hand, HDFC, the second largest private sector bank, has given a big shock to its customers. The bank has reduced the interest rates on its special FD.
HDFC Bank has reduced the interest rates on deposits on FD tenure of 35 and 55 months from October 1. Up to Rs 2 crore can be invested in both these special FDs. Earlier, the bank was offering interest at 7.20% on 35 month tenure and 7.25% on 55 month tenure. According to the website of HDFC Bank, now interest is being given at the rate of 7.15% on tenure of 35 months and 7.20% on tenure of 55 months.
HDFC Bank is giving 0.50 percent more interest on deposits to senior citizens for every period. This means that the bank is giving interest to senior citizens at the rate of 7.65% on a tenure of 35 months and 7.70% on a tenure of 55 months.
HDFC Bank is currently offering 3% interest rate on fixed deposits maturing between 7 and 29 days till May 29, 2023. Deposits maturing between 30 to 45 days will get 3.50% interest, while FDs maturing between 46 days and less than six months will get 3.50% interest. The bank is offering 5.75% interest rate on deposits maturing between six months to one day and less than nine months. The bank will give 6 percent interest rate on deposits with maturity of nine months to one day and less than one year.
The bank is currently offering 6.60% interest on fixed deposits maturing between one year and less than 15 months. Whereas 7.10% interest rate is available on FDs maturing between 15 months to less than 18 months.
HDFC Bank is now offering 7% interest rate on deposits with maturity period ranging from eighteen months to two years and less than eleven months. The bank has revised the interest rate on a special edition 35-month tenure FD to 7.15% for regular citizens from 7.20% earlier and on 4-year, 7-month tenure FD to 7.20% and The special edition 55-month tenure FD is already at 7.20%. 7.25%. The bank will pay 7% on other balance periods.
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