HDFC Bank’s special edition fixed deposit interest rates will be reduced from October 1, 2023, according to an email sent to its customers.
HDFC Bank introduced limited special edition fixed deposits (FDs) offering higher interest rates to their customers on May 29, 2023. Under the special edition fixed deposit, the bank offers 7.20 percent interest on fixed deposits maturing in 35 months and 7.25 percent interest on deposits maturing in 55 months. Senior citizens will receive an extra 0.5% on deposits with same terms. Under the scheme, a senior person will earn 7.7 percent on FDs due in 35 months and 7.75 percent on FDs maturing in 55 months.Also read: These 4 banks have revised FD interest rates in September 2023
According to the HDFC Bank website, “Presenting, HDFC Bank Special Edition Fixed Deposits. Enjoy HIGHER FD Rates @7.20% on tenure 35 months and @7.25% on tenure 55 months. What’s more? Senior Citizen benefits 0.50% EXTRA!…So Hurry! Valid for Limited Period only!”
HDFC Bank currently offers a 3 percent interest rate on fixed deposits due in 7 to 29 days. Deposits maturing between 30 and 45 days will earn 3.50 percent interest, while FDs maturing between 46 days and fewer than six months would receive 4.50 percent interest. For deposits maturing between 6 months and one day and less than 9 months, the bank gives a 5.75 percent 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 percent interest rate, while FDs maturing between 15 months and less than 18 months get a 7.10 percent interest rate.
Also read:7 big banks offering up to 7.5% FD interest rates
HDFC Bank will now offer a 7% interest rate on deposits maturing between 18 months and less than two years and eleven months.
The bank has launched a special edition 35-month term FD with an interest rate of 7.20% for regular citizens and 7.25% on a 4-year, 7-month term FD, as well as a special edition 55-month term FD. On other remaining tenures, the bank will pay 7%.
| Tenure | Interest Rate (per annum) | **Senior Citizen Rates (per annum) |
| 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 | 7.20% | 7.70% |
| 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 | 7.25% | 7.75% |
| 4 Year 7 Months 1 day < = 5 Years | 7.00% | 7.50% |
| 5 Years 1 day – 10 Years | 7.00% | 7.75%* |
HDFC Bank offers interest rates between 4.50% to 7.10% on tenures ranging from 6 months to 120 months for general citizens. Special edition fixed deposit rates of 33 month and 55 month are not applicable for RD booking.
How to book this special edition FD via Whatsapp
Save the number 7070022222 and send a WhatsApp message ‘SUB’
Step 1: Open the WhatsApp chat with the number and just say ‘Hi’ in the message window
Step 2: Under other services, click on Deposit services
Step 3/: Click on Open FD, click on ‘ explore on my own
Step 4: Click on the link sent to you, enter phone number and DOB and click on Login.
Step 5: Enter OTP. Select the account, enter the details and click Submit.
Premature Liquidation
According to the HDFC Bank website, “With effect from July 22nd, 2023, the interest rate applicable for premature withdrawal will be the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.”
