Last Updated : Nov 16, 2020 07:37 PM IST | Source: Moneycontrol.com

HDFC Bank revises interest rates for fixed deposit

HDFC Bank has cut the interest rates by 10 basis points (bps) on deposits maturing in one year and two years. So, the interest rate for 1 year 1 day to 2 years has been cut from 5 percent to 4.90 percent

 
 
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HDFC Bank has revised its interest rates on fixed deposits (FDs) maturing in one year and two years with effect from November 13. The bank has kept the rates unchanged for the rest of the term deposits.

HDFC Bank has cut the interest rates by 10 basis points (bps) on deposits maturing in one year and two years. So, the interest rate for 1 year 1 day to 2 years has been cut from 5 percent to 4.90 percent.

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As reported by the Mint, senior citizens will continue to get 50 bps higher interest rates as compared to the general public. The bank offers them 3 percent to 6.25 percent of interest rates on FDs maturing in 7 days to 10 years.

Here is the complete summary of the latest interest rates 
TenureInterest RatesOld Rates
7 - 14 days2.502.50
15 - 29 days2.502.50
30 - 45 days3.003.00
46 - 60 days3.003.00
61 - 90 days3.003.00
91 days - 6 months3.503.50
6 months 1 days - 9 months4.404.40
9 months 1 day < 1 Year4.404.40
1 Year4.904.90
1 year 1 day - 2 years4.905.00
2 years 1 day - 3 years5.155.15
3 year 1 day- 5 years5.305.30
5 years 1 day - 10 years5.505.50

Currently, SBI is providing an interest rate of 4.90 percent for deposits maturing in 1 year to less than 2 years from the earlier 5.10 percent as per the latest updates on September 9. As of November 6, ICICI Bank is providing interest rate of 3.85 percent for 1 year to 18 months and 4.10 percent for 18 months to 2 years.

First Published on Nov 16, 2020 07:37 pm
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