HDFC Bank Offering High Return Investments
The biggest private sector lending bank, HDFC has raised the FD interest rates for different tenures worth less than ₹2 Cr. These rates are applicable from April 6, 2022, for new investors and for existing ones the rates will be the same.
Increased Rates
As per the Bank’s official website, HDFC has hiked the one-year tenured fixed deposit rates by 10 basis points to 5.10 per cent from the previous 5 per cent. And for the tenure of one year one day to two years the FD interest rates are increased by 10 basis points to 5.10 per cent from 5 per cent.
For the elders, the bank has planned to continually provide them additional 25 basis points on a 5 year fixed deposit plan worth less than ₹5 Cr. These new offerings will be given as an addition over the regular 50 basis points.
Previous Hike
Previously in February, HDFC Bank had increased its FD rates by 10 basis points to 5 per cent from 4.9 per cent for a one-year tenure plan. However, for three to five year FD plan interest rates are hiked by 5 basis points to 5.45 per cent from 5.40 per cent.
Now the investors and lenders are waiting for the latest repo and reverse repo rates which The Reserve Bank of India will reveal in its monetary policy review on April 8, 2022.
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Here Is The Complete List Of FD Interest Rates Valuing Less Than ₹5 Cr:
