have increased their recurring deposit Rates with its FD rates. HDFC Bank has increased the interest rate by up to 40 basis points on select tenures. The new rates are effective from August 18, 2022. The move comes after the Reserve Bank of India raised the repo rates by 50 basis points in its monetary policy meeting on August 8, 2022.

On recurring deposits with tenors ranging from 6 months to 120 months, HDFC Bank offers interest rates in the range of 3.75 per cent to 6.10 per cent for regular citizens and 4.25 per cent to 6.60 per cent for senior citizens.

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HDFC Bank increased FD interest rate by 40 bps during this tenure

From August 18, the interest rate offered on the tenures of 12 months, 15 months and 24 months will increase from 5.35 per cent to 5.50 per cent, an increase of 15 bps. With effect from August 18, 2022, the bank will offer an interest rate of 6.10 per cent for tenures of 39 months, 48 ​​months and 60 months. The bank offers an interest rate of 5.35 for tenures of 12 months, 15 months and 24 months, with effect from June 15, 2022. The bank will continue to offer interest rates of 5.50 per cent and 5.50 per cent for a period of 27 months. Percentage for a period of 36 months.

Latest HDFC Bank RD Interest Rates

Source: HDFC Bank website

According to the HDFC Bank website, “Interest on Recurring Deposit will be calculated from the date the installment is paid. The mode of calculation of interest on RD will be on actual/actual quarterly compounding.

Interest on Recurring Deposit is calculated from the date of payment. Interest on RD will be calculated using actual/actual quarterly compounding.