India’s largest private sector lender HDFC Bank has hiked its interest rates on bulk fixed deposits (FDs) of ₹more than 2 Crore to ₹5 Crores. This announcement by HDFC Bank came in line with RBI’s repo rate hike by 25 basis points to 6.50 percent on February 8. Following the announcement, HDFC Bank is now providing interest rates on deposits with terms ranging from 7 days to 10 years that range from 4.75% to 7.00% for the general public and 5.25% to 7.75% for senior citizens. As per the official website of HDFC Bank, the latest FD rates are effective as of 17th February 2023.
India’s largest private sector lender HDFC Bank has hiked its interest rates on bulk fixed deposits (FDs) of ₹more than 2 Crore to ₹5 Crores. This announcement by HDFC Bank came in line with RBI’s repo rate hike by 25 basis points to 6.50 percent on February 8. Following the announcement, HDFC Bank is now providing interest rates on deposits with terms ranging from 7 days to 10 years that range from 4.75% to 7.00% for the general public and 5.25% to 7.75% for senior citizens. As per the official website of HDFC Bank, the latest FD rates are effective as of 17th February 2023.
HDFC Bank Bulk FD Rates
The bank is now offering an interest rate of 4.75% on bulk fixed deposits that mature in 7 to 29 days, while HDFC Bank is now providing an interest rate of 5.50% on bulk fixed deposits that mature in 30 to 45 days. As of right now, HDFC Bank is providing interest rates of 5.75% for deposits held for 46 to 60 days and 6.00% for deposits held for 61 to 89 days.
HDFC Bank Bulk FD Rates
The bank is now offering an interest rate of 4.75% on bulk fixed deposits that mature in 7 to 29 days, while HDFC Bank is now providing an interest rate of 5.50% on bulk fixed deposits that mature in 30 to 45 days. As of right now, HDFC Bank is providing interest rates of 5.75% for deposits held for 46 to 60 days and 6.00% for deposits held for 61 to 89 days.
Deposits maturing in 90 days to 6 months now earn 6.50% interest, while those maturing in 6 months, 1 day to 9 months now earn 6.65% interest. On bulk fixed deposits maturing 9 months 1 day to 1 Year, the bank is offering an interest rate of 6.75% and on those maturing in 1 year to 15 months, HDFC Bank will now offer an interest rate of 7.00%.
Deposits maturing in 90 days to 6 months now earn 6.50% interest, while those maturing in 6 months, 1 day to 9 months now earn 6.65% interest. On bulk fixed deposits maturing 9 months 1 day to 1 Year, the bank is offering an interest rate of 6.75% and on those maturing in 1 year to 15 months, HDFC Bank will now offer an interest rate of 7.00%.
HDFC Bank will now offer an interest rate of 7.15% on a deposit tenor of 15 months to 2 years and an interest rate of 7.00% on a deposit tenor of 2 years 1 day to 10 years.
HDFC Bank will now offer an interest rate of 7.15% on a deposit tenor of 15 months to 2 years and an interest rate of 7.00% on a deposit tenor of 2 years 1 day to 10 years.
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Senior citizens will get an additional interest rate of 0.50% over and above the regular rates on bulk fixed deposits of HDFC Bank maturing in 7 days to 5 years. Only senior citizens and retired employees who are Indian residents and at least 60 years old are eligible for additional interest rate benefits.
Senior citizens will get an additional interest rate of 0.50% over and above the regular rates on bulk fixed deposits of HDFC Bank maturing in 7 days to 5 years. Only senior citizens and retired employees who are Indian residents and at least 60 years old are eligible for additional interest rate benefits.
During a special deposit offer or Senior Citizen Care FD of HDFC Bank that runs from May 18, 2020 to March 31, 2023, senior citizens who want to book a fixed deposit for less than Rs. 5 crore for a term of 5 years and 1 day to 10 years will receive an additional premium of 0.25% over and above of the existing premium of 0.50%.
During a special deposit offer or Senior Citizen Care FD of HDFC Bank that runs from May 18, 2020 to March 31, 2023, senior citizens who want to book a fixed deposit for less than Rs. 5 crore for a term of 5 years and 1 day to 10 years will receive an additional premium of 0.25% over and above of the existing premium of 0.50%.
Senior Citizens who book new fixed deposits or renew existing ones within the aforementioned period will be eligible for this special offer; Non-Resident Indians are not eligible for this offer. Hence, on bulk fixed deposits of less than ₹5 Cr maturing in 5 years to 10 years, senior citizens will get an interest rate of 7.75% which is 75 bps higher than the standard rates applicable under the Senior Citizen Care FD.
Senior Citizens who book new fixed deposits or renew existing ones within the aforementioned period will be eligible for this special offer; Non-Resident Indians are not eligible for this offer. Hence, on bulk fixed deposits of less than ₹5 Cr maturing in 5 years to 10 years, senior citizens will get an interest rate of 7.75% which is 75 bps higher than the standard rates applicable under the Senior Citizen Care FD.
