HDFC bank is a popular private sector bank used by many people in India. The giant private lender has recently increased the interest rates on recurring deposits for regular depositors as well as senior persons. On October 11, 2022, the new interest rates would become effective, according to the bank's website. The bank also told its customers that it has increased a certain tenures' interest rates by 50 basis points.
The bank has raised interest rates on recurring deposits with maturities ranging from six months to 36 months and from 90 to 120 months. On deposits made by the general public for terms ranging from six months to ten years, the private money lender will charge interest rates ranging from 4.25% to 6.10%. On the other hand, the bank is currently providing senior citizens with interest rates on deposits with terms ranging from six months to 10 years of 4.75% to 6.75%.
Following is a list of all the updated interest rates for RDs provided by HDFC Bank:
For RDs ranging for 6 months, the interest rate has been revised to 4.25% per annum. As for senior public, the interest rate is 4.75% for the same period.
For RDs ranging for 9 months, the interest rate has been revised to 5.00% per annum. As for senior public, the interest rate is 5.50% for the same period.
For RDs ranging for 12 months, the interest rate has been revised to 5.70% per annum. As for senior citizens, the interest rate is 6.20% for the same period.
For RDs ranging for 15 months, the interest rate has been revised to 5.70% per annum. As for senior citizens, the interest rate is 6.20% for the same period.
For RDs ranging for 24 months, the interest rate has been revised to 5.70% per annum. As for senior citizens, the interest rate is 6.20% for the same period.
For RDs ranging for 27 months, the interest rate has been revised to 5.80% per annum. As for senior citizens, the interest rate is 6.30% for the same period.
For RDs ranging for 36 months, the interest rate has been revised to 5.80% per annum. As for senior citizens, the interest rate is 6.30% for the same period.
For RDs ranging for 39 months, the interest rate has been revised to 6.10% per annum. As for senior citizens, the interest rate is 6.60% for the same period.
For RDs ranging for 48 months, the interest rate has been revised to 6.10% per annum. As for senior citizens, the interest rate is 6.60% for the same period.
For RDs ranging for 60 months, the interest rate has been revised to 6.10% per annum. As for senior citizens, the interest rate is 6.60% for the same period.
For RDs ranging for 90 months, the interest rate has been revised to 6.00% per annum. As for senior citizens, the interest rate is 6.75% for the same period.
For RDs ranging for 120 months, the interest rate has been revised to 6.00% per annum. As for senior citizens, the interest rate is 6.75% for the same period.
Note: Higher interest rates are only available to residents who are senior citizens.
Disclaimer: The interest rates mentioned in this article are recorded at the time of writing and are subject to change. BQ Prime does not endorse any of the interest rates mentioned above. Please invest at your own discretion.
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