HDFC Bank raises interest rates on FD by 1%
On Fixed Deposits for more than 1 year, you will get interest at 7% rate. This interest is for a fixed deposit of less than 1 crore rupees.
New Delhi: Good news for HDFC Bank customers. If you have done FD in HDFC Bank or you want to, you will get more interest. HDFC Bank has hiked the rates of term deposits, including fixed deposits, by 100 basis points (1 per cent). After this, you will get 7% interest on Fixed Deposits for more than 1 year. This interest is for a fixed deposit of less than 1 crore rupees. The bank has considered these increased rates effective from April 24-25.
For FDs of more than Rs 1 crore, customers have announced to give 0.25% more interest to other customers. Actually, it is believed that HDFC Bank has taken these steps to attract as many customers as possible for its term deposit.
HDFC Bank's new FD rates
will be 7 percent for FD deposited for more than 1 year,
7.5 percent interest on FD for FDs, deposits of
Rs 5 crore to Rs 5 crore will get 0.25 percent more interest from the rest.
will be 7 percent for FD deposited for more than 1 year,
7.5 percent interest on FD for FDs, deposits of
Rs 5 crore to Rs 5 crore will get 0.25 percent more interest from the rest.
After these new rates, HDFC's interest rates have been higher than the rates of the country's largest public sector bank SBI's FD. Not only SBI, many other private and government banks will get higher interest from the term deposits now at HDFC's FD.
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