India’s largest private sector lender HDFC Bank has revised its interest rates on bulk fixed deposits (FDs) of ₹2 crore to less than ₹5 crore. Following the modification, HDFC Bank currently offers interest rates on deposit tenors of 7 days to 10 years ranging from 4.75% to 7.40% for the general public and 5.25% to 7.90% for elderly individuals. As per the official website of HDFC Bank, interest rates on these deposits are effective from 3 February 2024.
The maximum interest rate for deposits maturing in 1 year to less than 15 months is currently 7.90% for senior citizens and 7.40% for regular customers.
HDFC Bank Bulk FD Rates for General Customers
On bulk deposits maturing in 7 to 29 days, the bank is now offering an interest rate of 4.75% and on those maturing in 30 – 45 days, HDFC Bank is now promising an interest rate of 5.50%. HDFC Bank is now promising an interest rate of 5.75% on a deposit tenure of 46 – 60 days and an interest rate of 6.00% on a deposit tenure of 61 – 89 days.
7 – 14 days 4.75%
15 – 29 days 4.75%
30 – 45 days 5.50%
46 – 60 days 5.75%
61 – 89 days 6.00%
90 days <= 6 months 6.50%
6 mnths 1 day <=9mnths 6.65%
9 mnths 1 day to < 1 Year 6.75%
1 Year to < 15 months 7.40%
15 months to < 18 months 7.05%
18 months to < 21 months 7.05%
21 months to 2 years 7.05%
2 year 1 day to 3 years 7.00%
3 year 1 day to 5 years 7.00%
5 year 1 day to 10 years 7.00%
HDFC Bank Bulk FD Rates for Senior Citizens
7 – 14 days 5.25%
15 – 29 days 5.25%
30 – 45 days 6.00%
46 – 60 days 6.25%
61 – 89 days 6.50%
90 days <= 6 months 7.00%
6 mnths 1 day <=9mnths 7.15%
9 mnths 1 day to < 1 Year 7.25%
1 Year to < 15 months 7.90%
15 months to < 18 months 7.55%
18 months to < 21 months 7.55%
21 months to 2 years 7.55%
2 year 1 day to 3 years 7.50%
3 year 1 day to 5 years 7.50%
5 year 1 day to 10 years 7.75%*
HDFC Bank has received approval from the Reserve Bank of India (RBI) to acquire up to a 9.5% stake each in six private lenders. The approval lets HDFC Bank buy stakes in ICICI Bank, IndusInd Bank, Yes Bank, Axis Bank, Bandhan Bank, and Suryoday Small Finance Bank.
The approval is on behalf of the HDFC Bank group, including its asset management company, life insurance company, and others, the company said.
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Published: 06 Feb 2024, 11:51 AM IST
