HDFC Bank, a private sector bank, reduced fixed deposit interest rates of two special tenure fixed deposit schemes – these are for FD tenures of 35 and 55 months. Note that special edition fixed deposit options were available for deposits up to Rs 2 crore. The new rates are effective from October 1, 2023.
Earlier, the bank was offering 7.20% on tenure of 35 months and 7.25% on tenure of 55 months. According to the HDFC Bank website, Enjoy HIGHER FD Rates @7.15% on tenure 35 months and @7.20% on tenure 55 months. What’s more? Senior Citizen benefits 0.50% EXTRA!…So Hurry! Valid for Limited Period only!”
Also read: 2 new debit card, credit card rules applicable soonHDFC Bank is currently giving a 3% interest rate on fixed deposits maturing between 7 and 29 days as of May 29, 2023. Deposits maturing between 30 and 45 days will earn 3.50% interest, while FDs maturing between 46 days and less than six months would receive 4.50% interest.
For deposits maturing between six months and one day and less than nine months, the bank gives a 5.75% interest rate. The bank will give a 6% interest rate on deposits maturing between nine months and one day and less than one year.
Fixed deposits maturing between one year and less than 15 months currently earn a 6.60% interest rate, while FDs maturing between 15 months and less than 18 months get a 7.10% interest rate.
HDFC Bank will now offer a 7% interest rate on deposits maturing between eighteen months and less than two years and eleven months.
The bank has revised a special edition 35-month term FD with an interest rate of 7.15% for regular citizens from earlier 7.20% and 7.20% on a 4-year, 7-month term FD on special edition 55-month term FD from earlier 7.25%. The bank will pay 7% on tenures on other remaining tenures.
| Interest Rate | General Citizens Rates |
Senior Citizen Rates |
| 7 – 14 days | 3.00% | 3.50% |
| 15 – 29 days | 3.00% | 3.50% |
| 30 – 45 days | 3.50% | 4.00% |
| 46 – 60 days | 4.50% | 5.00% |
| 61 – 89 days | 4.50% | 5.00% |
| 90 days < = 6 months | 4.50% | 5.00% |
| 6 months 1 days < = 9 months | 5.75% | 6.25% |
| 9 months 1 day to < 1 year | 6.00% | 6.50% |
| 1 year to < 15 months | 6.60% | 7.10% |
| 15 months to < 18 months | 7.10% | 7.60% |
| 18 months to < 21 months | 7.00% | 7.50% |
| 21 months – 2 years | 7.00% | 7.50% |
| 2 Years 1 day to < 2 Year 11 Months | 7.00% | 7.50% |
| 2 Years 11 Months – 35 Months | 7.15% | 7.65% |
| 2 Years 11 Months 1 day < = 3 Year | 7.00% | 7.50% |
| 3 Years 1 day to < 4 Years 7 Months | 7.00% | 7.50% |
| 4 Year 7 Months – 55 months | 7.20% | 7.70% |
| 4 Year 7 Months 1 day < = 5 Years | 7.00% | 7.50% |
| 5 Years 1 day – 10 Years | 7.00% | 7.75%* |
Source: Bank websiteAlso read: New debit, credit card, TCS rules, special FD deadlines, LIC campaign late date: 8 big money changes in October 2023
Senior Citizen FD rates
For senior citizens the bank will offer interest rate between 3.50% to 7.75% for tenures ranging from 7 days to 10 years. On a special edition FD of 35 days tenure, the bank offers 7.60% and 7.70% on special edition FD of 55 months tenure.
