HDFC Bank RD Interest Rates: After increasing the interest rate of FD by ICICI Bank, now HDFC Bank has also increased the interest rate of Recurring Deposit (RD). Earlier, IDFC First Bank had also given good news to the customers.
HDFC Bank RD Interest Rates: After ICICI Bank of the private sector, now HDFC Bank has given good news to its crores of customers. ICICI had increased the rate of fixed deposits last day. Now HDFC Bank has increased the interest on Recurring Deposit (RD). The bank has implemented the increased rate from May 17, 2022.
3.50% interest on RD of 6 months
This change made by the largest private sector bank has been implemented on RDs ranging from 27 months to 120 months. Bank will continue to pay interest @ 3.50% on RD for 6 months. The interest rate on RD maturing in 27 months to 36 months has been increased from 5.20% to 5.40% by the bank. At the same time, the interest rate on RDs maturing in 39 to 60 months was increased from 5.45% to 5.60%. The interest rate on RD for 90 to 120 months was earlier 5.60% but now it has been increased by 15 basis points to 5.75%.
Extra premium of 0.25 percent
Senior citizens will continue to get 0.50% extra premium on RD from 6 months to 60 months from the bank. On recurring deposits with tenures ranging from 5 to 10 years, senior citizens will get an additional premium of 0.25% in addition to the premium of 0.50% till September 30, 2022. It is under special deposit.
Another relief to Senior Citizens
According to the information given on HDFC Bank’s website, senior citizens will be given an extra premium of 0.25%. This benefit will be available to those who want to book an FD of less than 5 crores for 5 years. This offer will be applicable on renewals apart from new FDs booked by senior citizens.
Earlier, ICICI Bank had changed the interest rate on FDs of less than Rs 2 crore. The interest on FDs from 290 days to 10 years was changed by the bank. Apart from this, IDFC First Bank (IDFC First Bank FD Rates) has also increased the interest rate of FD by up to 1 percent. This change has been implemented from 23 May.