The new interest rates of HDFC Bank's domestic, NRO and NRE term deposits – for both the general public as well as senior citizens – are effective from October 06, 2018.
Just a day after the RBI decided to keep its key policy rates unchanged in its October monetary policy review, India’s largest private lender HDFC Bank announced its new fixed deposit interest rates on Saturday. The new interest rates of the bank’s domestic, NRO and NRE term deposits of less than Rs 5 crore – for both the general public as well as senior citizens – are effective from October 06, 2018. The last revision in the FD rates was done by the bank on August 06, 2018.
It may be noted that almost all banks – including SBI, ICICI Bank and Kotak Bank – have revised their FD rates upwards in this rising interest rate regime. With the latest revision in rates, on deposits below Rs 1 crore, HDFC Bank is now offering 6.75% interest rate on its fixed deposits for 6 months 1 day to 6 months 3 days. Senior citizens will get 7.25% interest for the same term. Similarly, on FDs of 1 year, the bank is offering 7.25% for the general public and 7.75% for senior citizens. On term deposits of 3 years 1 day to 5 years, the general public will get 7.10% return, while senior citizens will get 7.60%. However, term deposits ranging from 5 years 1 day to 10 years will provide only 6% return, while senior citizens will get 6.5%.
Here are the latest interest rates of HDFC Bank’s Domestic, NRO and NRE term deposits of below Rs 1 crore:
(The rates are applicable from 06th October, 2018)