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.
HDFC Bank will offer an interest rate of 5.45 per cent for FDs maturing between three years one day to five years. Investors will get an interest of 5.60 per cent for FDs maturing between five years one day to 10 years.
Earlier in January, the bank hiked the interest rate for FDs worth less than Rs 2 crore by five to ten basis points and this is the second time lender had offered a raise in interest rates for FDs in two months.