HDFC Bank slashes FD interest rate: Here is what you get on fixed deposits now

Country’s largest private sector bank, HDFC Bank on Thursday slashed interest rates on fixed deposits (FDs) on selected tenures effective today, October 15. The bank has cut the interest rate on deposits maturing in one year and two years. The rates remain unchanged for rest of the term deposits.  

After the latest revision, HDFC Bank is offering 2.50% interest rate on deposits between 7 days and 29 days, and 3 % on deposits maturing in 30-90 days. On 91 days to 6 months, 3.5% and on 6 months 1 day to less than one year, 4.4%. HDFC Bank has cut the interest rates by 20 basis points (bps) and 10 bps on deposits with maturity one year and two years respectively. 

Here are the new HDFC Bank Fixed Deposit rates: 

7 - 14 days 2.50% 

15 - 29 days 2.50% 

30 - 45 days 3% 

46 - 60 days 3% 

61 - 90 days 3% 

91 days - 6 months 3.5% 

6 months 1 days - 9 months 4.4% 

9 months 1 day < 1 Year 4.4% 

1 year slashed 4.9% 

1 year 1 day - 2 years 5% 

2 years 1 day - 3 years 5.15% 

3 year 1 day- 5 years 5.30% 

5 years 1 day - 10 years 5.50% 

Senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 3% to 6.25% on FDs maturing in 7 days to 10 years to senior citizens. Apart from this, they also get an additional premium of 0.25% (over and above the existing premium of 0.50%) who wish to book the FDs for a tenure of five years. 

This special offer will be applicable to new Fixed Deposit booked as well as for the Renewals, by Senior Citizens till 31 December.