HSBC India ups resident fixed deposit rates by 0.5-0.75%

Banking major HSBC India today said that it has upped its resident fixed deposit rates by 0.5% to 0.75% on select maturities.

The new rates are applicable with effect from February 9, the bank said in a statement here. For deposits of a term of 270-days to 12-months, the interest rate has been increased by 0.5% to 8.5%. For a term of 36-months to 37-months, the rate has been increased by 0.75% to 7.75%, the statement said. Senior citizens (above 60-years) will receive an additional 0.5% over the board rates. The fixed deposit rate available to senior citizens will be as high as nine per cent per annum for 12-months and 8.5% per annum for 731-days, the statement said.