HDFC Bank Offers Up To 5.5% Interest On Fixed Deposits

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HDFC Bank offers additional 0.50 per cent interest across tenors to senior citizens. The maturity period for fixed deposits offered by the HDFC Bank starts from seven days and go on for 10 years. HDFC Bank revised its interest rates on fixed deposits with effect from November 13, 2020. HDFC Bank, the country’s largest private sector lender, currently offers 5.50 per cent interest on fixed deposit account below ₹ 5 crore with tenure of 5 years 1 day – 10 years, according to HDFC Bank website https://www.hdfcbank.com.

Reserve Bank of India Governor-led Monetary Policy Committee (MPC) on Friday (February 4) decided to maintain key policy rates at existing levels, saying that the “need of the hour is to back growth.” The Reserve Bank kept the repo rate unchanged at 4 per cent and reverse repo rate untouched at 3.35 per cent.

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