look news india
If you deposit money in private sector HDFC Bank, then this news is important for you. The bank has revised the interest rates on fixed deposits (FD) for senior citizens and general public. Now, on deposits between ₹3 crore to ₹5 crore, the bank will offer 7.40% interest to the general public and 7.90% to senior citizens.
Interest rates for different periods
- Period from 7 to 29 days: 4.75%
- Tenure 30 to 45 days: 5.50%
- Tenure 46 to 60 days: 5.75%
- Period 61 to 89 days: 6.00%
HDFC Bank offers various deposit options with tenures ranging from 7 days to 10 years.
Change in Marginal Cost Based Lending Rate (MCLR)
HDFC Bank has also revised the Marginal Cost Based Lending Rate (MCLR). The new rates range from 9.15% to 9.45% per annum. Notably, the one-month MCLR stands steady at 9.20%, while the three-month rate stands at 9.30%. MCLR for six months and one year has reduced from 9.50% to 9.45%. MCLR of three years and two years is also at 9.45%.
Interest rates of other banks
- Axis Bank: 7.30% interest on deposits of ₹3 crore to ₹5 crore for tenures ranging from one year, 11 days to one year, 24 days, and up to 7.0% interest for tenures ranging from two years to 30 months.
- State Bank of India (SBI): 7.0% interest to general customers and 7.50% interest to senior citizens on deposits of ₹3 crore and above.
- Punjab National Bank (PNB): 7.25% interest on one-year deposits of ₹3 crore to ₹10 crore for general customers and 7.55% for senior citizens.
