India’s leading private sector bank, HDFC Bank has recently raised the interest rates on FDs worth less than Rs 2 crore. The new rates will be effective from February 14, according to the bank’s official website.
If you are putting money in fixed deposit for a year, the interest rate will be 5 per cent. Your fixed deposit will fetch the same amount of interest for the tenure up to two years. Long term fixed deposits maturing in two years one day to three years, will attract an interest rate of 5.30 per cent.
The private lender is offering an interest of 2.5 per cent for FDs maturing between 7 days to 29 days, 3 per cent to 30 days to 90 days and 3.5 per cent to 91 days to six months. For FDs maturing between six months to less than a year, the interest rate will 4.40 per cent.
