According to the bank’s official website, the new interest rates on fixed deposits are effective from February 21, 2023.
The bank is now offering a 3% interest rate on fixed deposits maturing between 7 and 29 days. Deposits maturing between 30 and 45 days, will earn an interest rate of 3.50% while FDs maturing between 46 days and less than six months will fetch an interest of 4.50%.
The bank offers a 5.75% interest rate for deposits maturing between six months and one day to less than nine months. For deposits maturing between nine months and one day and less than one year, the bank will offer an interest rate of 6%.
HDFC Bank now offers a 6.60% interest rate on fixed deposits maturing between nine months and one day and one year, and a 7.10% interest rate on FDs maturing between 15 months and less than 18 months.
HDFC Bank will now give an interest rate of 7% on deposits maturing between 18 months and 10 years.
| HDFC Bank FD interest rates w.e.f February 21, 2023 | ||
| Tenure | Interest Rate (per annum) | Senior Citizen Rates |
| 7 – 14 days | 3.00% | 3.50% |
| 15 – 29 days | 3.00% | 3.50% |
| 30 – 45 days | 3.50% | 4.00% |
| 46 – 60 days | 4.50% | 5.00% |
| 61 – 89 days | 4.50% | 5.00% |
| 90 days | 4.50% | 5.00% |
| 6 mnths 1 days | 5.75% | 6.25% |
| 9 mnths 1 day to | 6.00% | 6.50% |
| 1 year to | 6.60% | 7.10% |
| 15 months to | 7.10% | 7.60% |
| 18 months to | 7.00% | 7.50% |
| 21 months – 2 years | 7.00% | 7.50% |
| 2 years 1 day – 3 years | 7.00% | 7.50% |
| 3 year 1 day to – 5 years | 7.00% | 7.50% |
| 5 year 1 day – 10 years | 7.00% | 7.75%* |
Source: HDFC Bank website
HDFC Bank senior citizen FD:
HDFC Bank offers interest rates ranging between 3.50% to 7.60% (except Senior Citizen Care FD) for senior citizens for tenures ranging between 7 days and 10 years. The bank offers the highest interest rate of 7.60% on a tenure of 15 months to less than 18 months.
Senior Citizen Care FD
HDFC Bank offers a special deposit for senior citizens with higher interest rates, according to the HDFC Bank website, “An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May’20 to 31st Mar’2023.”
The highest offered on Special We Care deposit is 7.75% for a tenure of 5 years 1 day to 10 years.
Premature withdrawal
According to the HDFC bank website, “For Premature Closure (for all amounts, and for including Sweep In / Partial Withdrawal), the final rate applicable will be 1% Below that of the lower of either: a) the rate for the original /contracted tenor for which deposit has been booked or b) the base rate applicable for the tenor for which the deposit has been in force with the bank except for the deposits booked with tenor 7-14 days.”