India's largest private bank HDFC Bank has cut the interest rate for fixed deposits on 15 October. The bank has cut the interest rate of bank FDs for one year and two years only. Apart from this, there has been no change in fixed deposit rates for any other period. The same HDFC Bank has cut FD rates with a duration of one year by 20 basis points. At the same time, two-year FD has reduced 10 basis points.
Check new FD rate - 1. The interest rate on FDs ranging from 7 days to 29 days is 2.50%. 2. Interest rate on FD of 30 days to 90 days is 3% . 3. Interest rate on FD of 91 days to 6 months is 3.5% . 4. The interest rate on FD from 6 months to 364 days is 4.4% . 5. Interest rate on FD with one year maturity has been increased to 4.9% . 6. At the same time, the interest rate on FD maturing in two years has become 5% . 7. The interest rate on FDs ranging from two years to 3 years is 5.15% . 8. Interest rate on FD from 3 years to 5 years is 5.30% . 9. The interest rate on FDs from 5 years to 10 years is 5.50% .
Talking about the same senior citizens, they are getting 50 basis points more interest than the general public. The bank is giving interest of 3% to 6.25% on FDs for senior citizens in a period ranging from 7 days to 10 years. In addition, if a senior citizen wants to get FD for 5 years, he gets an additional premium of 0.25% (more than the current premium of 0.50%). This special offer is scheduled for new fixed deposits as well as renewals by senior citizens till 31 December.
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