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HDFC Bank Hikes FD Rates: Now you will get more interest on FD, HDFC Bank hikes interest rates – News

HDFC Bank Hikes Fixed Deposit Rates: There is good news for those who keep their hard earned money in the bank in the form of Fixed Deposit. After the decision of RBI to increase the repo rate, HDFC Bank has announced to increase the interest rates on fixed deposits for the second time in a week. HDFC Bank has increased the FD rates by 25 basis points with effect from June 17, 2022. These interest rates are applicable on FDs of less than Rs 2 crore.

FD rate hiked by 25 basis points
According to the website of HDFC Bank, the interest rate will be increased from 2.50 percent to 2.75 percent on FDs of 7 to 29 days. FDs of 30 days to 90 days will get 3.25 percent interest instead of 3 percent. FD of 91 days to 6 months will get 3.75 percent interest instead of 3.50 percent. FDs with a tenure of 1 to 2 years will get 5.35 percent interest instead of 5.10 percent. FDs with a tenure of 2 years one day to 3 years will get 5.50 percent interest, which used to get 5.40 percent interest earlier. FDs with a tenor of 3 years 1 day to 5 years will get 5.70 percent interest, which used to get 5.60 percent interest earlier.

Other banks will also increase FD rate
Earlier on June 15, 2022, HDFC Bank had announced an increase in interest rates by 25 basis points. However, after the decision of RBI to increase the repo rate, many banks have increased the fixed deposits. And it is believed that many other banks can increase the interest rates on FD.

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