HDFC Bank unveils new fixed deposit rates for customers today: Check details

Private sector lender HDFC Bank has launched Special Edition Fixed Deposits, which will offer interest rates of up to 7.25 per cent. For regular citizens, there are two interest rate slabs. The rate will be 7.20 percent for a tenure of 2 years and 11 months, while it will be 7.25 percent for a tenure of 4 years and 7 months. Senior citizens will get an additional benefit of 0.50 per cent. For them, the rate will be 7.70 per cent for 2 years and 11 months, while 7.75 per cent for 4 years and 7 months.

"Presenting, HDFC Bank Special Edition Fixed Deposits. Enjoy HIGHER FD Rates @7.20% on a tenure of 35 months and @7.25% on a tenure of 55 months. What's more? Senior Citizen benefits 0.50% EXTRA!...So Hurry! Valid for Limited Period only," the Bank wrote on its website.

"Fixed Deposits booked with monthly or quarterly interest payout option, TDS recovery will by default happen from the linked current/savings account. Please visit the nearest branch/contact RM for clarification. FD will get booked at your home branch. If you are an NRI, Minor, or Current Account holder, kindly book your Fixed Deposit via NetBanking or the MobileBanking App," the bank said.

The bank clarified in a statement that HDFC Bank Senior Citizen Care FD Scheme will be available and valid for subscription on July 7, 2023.

"HDFC Bank Senior Citizen Care FD Scheme will give Resident Senior Citizen customers an additional interest rate on an FD of 0.50% for a limited time over and above the existing additional rate of 0.50% per annum," said the bank’s website.

"An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years one day to 10 years during the special deposit offer, commencing from May 18, 2020 to July 7, 2023. This special offer will be applicable to new Fixed Deposits booked as well as for the Renewals, by Senior Citizens during the above period. This offer is not applicable to Non-Resident Indians," HDFC Bank said.