Indians being “natural savers” prefers to do safe-return investments. Even though the trend has changed there are still some section of people who rely entirely on “interest income”.
People including retirees, unorganised workers, senior citizens rely on fixed deposits. But due to the “Falling interest rate scenario” they are getting nervous on the returns from assured return instruments.
Exactly for those who are worrying on the falling interest rates, slowly banks are hiking interest rates slightly. Already banking Giant SBI has hiked interest rates and in line with SBI, HDFC Bank has hiked fixed deposit interest rates.
As per the official notification issued by HDFC Bank, the new interest rates will come into effect from February 14th,2022 and all their customers would utilise this offer as per their interest. Please note that there will additional 0.50% interest rate applicability for deposits of senior citizens.
HDFC Bank New F.D Interest Rates(With effect from February 14th,2022)–
|Deposit Tenure||Interest Rates For General Public||Interest Rates For Senior Citizens|
|7 to 14 Days||2.50%||3%|
|15 Days to 29 Days||2.50%||3%|
|30 Days to 45 Days||3%||3.50%|
|46 Days to 60 Days||3%||3.50%|
|61 Days to 90 Days||3%||3.50%|
|91 Days to 120 Days||3.50%||4%|
|Above 6 Months and below 9 Months||4.40%||4.90%|
|Above 9 Months and Below 1 Year||4.40%||4.90%|
So if you are interested opt for HDFC Bank Fixed Deposits for any of the specific time period you wish to invest for!