According to the HDFC bank’s website, deposits with a maturity of 7 to 29 days now earn 2.50 percent, FDs with a maturity of 30 to 90 days earn 3%, deposits with a maturity of 91 days to six months earn 3.5 percent, and FDs with a maturity of less than one year earn 4.4 percent.
Click here to read the full story.
Here is a look at how the FD rates of HDFC Bank compares with those of
and the (SBI). Who among these three leading banks are offering the highest rates for FD with amounts below Rs 2 crore? Read on to find out.
FD rates of big banks like HDFC Bank, ICICI Bank, and SBI are on the lower side as banks have been cutting rates over the past few years. Compared to the bigger lenders, smaller banks offer better rates.
Click here to find out the top five bank FD rates.
FD rate hikes
Non-banking finance companies (NBFCs) like Bajaj Finance and HDFC have also announced hikes in FD rates. In what could be interpreted as the first signs of a likely directional change in broader interest costs, Bajaj Finance and HDFC, raised rates by up to 30 basis points for deposits up to five years.
These hikes have come just one week before the Reserve Bank of India’s (RBI) bi-monthly monetary policy review next week.