HDFC Bank, India’s largest private lender, has revised fixed deposit (FD) interest rates for senior citizens and the general public. For deposits in the range of INR3 billion ~ INRFor $5 billion, the bank currently plans to offer up to 7.40% interest to the general public and up to 7.9% interest to senior citizens based on their tenure.
On fixed deposits with a holding period of 7 to 29 days, depositors can earn 4.75% and 5.50% for 30 to 45 days. For deposits with a holding period of 46 to 60 days, the depositor can earn interest of 5.75% and 6.0% for holding periods of 61 to 89 days. The bank offers multiple deposit options ranging from 7 days to 10 years.
Additionally, HDFC Bank has revised its marginal cost of funds based lending rate (MCLR) from January 7, 2025. The new interest rates range from 9.15% to 9.45% p.a.
MCLR has been reduced from 9.15% to 9.20%. The 1-month MCLR remains at 9.20%, while the 3-month MCLR remains at 9.30%.
The 6-month and 1-year tenure MCLR was 9.45%, up from 9.50%. On the other hand, the MCLR for 3-year and 2-year bonds is 9.45%.
FD rate of other banks
axis bank
For general customers, Axis Bank offers interest rates of up to 7.30% on deposits for the following periods: INR3 billion and INR5 billion for terms ranging from 1 year and 11 days to 1 year and 24 days. Earn up to 7.0% interest on deposits from 2 years to 30 months.
For senior citizens, the bank offers deposit interest of 7.80% for tenures of 1 year, 11 days to 1 year and 24 days, and 7.50% for tenures of 2 years to 30 months.
State Bank of India (SBI)
Regarding deposits from INRState Bank of India provides interest of up to 7.0% for general citizens and up to 7.50% for senior citizens for deposits of 3 billion yen or more, deposits of 1 year to 2 years and 2 years to 3 years. provide.
punjab national bank
PNB offers 7.25% to the general public and 7.55% to senior citizens for deposits of one year. INR3 billion ~ INR1 billion.
