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Last Updated : Nov 06, 2018 08:55 PM IST | Source: PTI

HDFC Bank hikes deposit rates by up to 0.5%

In a statement, HDFC Bank said the new rate interest rate on deposits below Rs 1 crore for various tenors will come into effect from November 5.

 
 
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Signalling tightening of rates, HDFC Bank raised interest rates on deposits by up to 0.5 percent for various tenors.

In a statement, HDFC Bank said the new rate interest rate on deposits below Rs 1 crore for various tenors will come into effect from November 5.

The rate on deposits with tenor of 5-8 years and 8-10 years has been increased to 6.5 per cent from 6 per cent.

The rate has been hiked to 7.25 per cent for fixed deposits of 3-5 years from the earlier 7.1 per cent.

The fixed deposit rate for one-year tenor has been fixed at 7.3 per cent, up from 7.25 per cent.

The Reserve Bank of India will be announcing its next bi-monthly monetary policy in the first week of December.
First Published on Nov 6, 2018 08:13 pm
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