According to the HDFC Bank website, deposits with maturities of 7 to 29 days will now earn 2.50 per cent, FDs with maturities of 30 to 90 days will attract 3%, deposits with maturities of 91 days to six months will earn 3.5 per cent and FDs earn Rs. Is. With maturity of less than one year earn 4.4 percent.
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Here’s how HDFC Bank FD rates compare
And this (State Bank Of India) Which of these three leading banks is offering the highest rates for FDs below Rs 2 crore? Read on to find out.
Big banks like HDFC Bank, ICICI Bank and SBI have lower FD rates as banks have been cutting rates in the last few years. Smaller banks tend to offer better rates than larger lenders.
Click here to know about the top five bank FD rates.
FD rate Growth
Non-Banking Finance Companies (NBFCs) like Bajaj Finance and HDFC have also announced hike in FD rates. In what could be interpreted as the first signs of a possible directional change in broad interest costs, Bajaj Finance and HDFC raised rates by up to 30 basis points for deposits of up to five years.
These hikes come just a week ahead of the Reserve Bank of India’s (RBI) bi-monthly monetary policy review next week.