HDFC Bank, India’s largest private sector bank, is set to decrease interest rates on its Special Edition Fixed Deposit (FD) scheme, effective from October 1.
Launched on May 29, 2023, this special edition FD offered customers interest rates of up to 7.55%.
However, the bank has now informed its customers via email that the rates on this FD will be revised.
HDFC Special Edition FD Scheme
The HDFC Special Edition FD Scheme encompasses FDs with maturity periods of 35 and 55 months.
Customers previously enjoyed interest rates of 7.20% on FDs maturing in 35 months and 7.25% on those maturing in 55 months, with an additional 0.05% interest offered on the longer tenure.
Senior citizens received even higher rates, with 7.70% on 35-month FDs and 7.75% on 55-month FDs.
These rates were applicable from May 29, but HDFC Bank has decided to adjust them starting October 1.
Revised HDFC Bank FD Rates
HDFC Bank’s updated FD rates, effective October 1, for various tenure ranges are as follows:
- 7 days to 14 days: General public – 3.00%, Senior citizens – 3.50%
- 15 days to 29 days: General public – 3.00%, Senior citizens – 3.50%
- 30 days to 45 days: General public – 3.50%, Senior citizens – 4.00%
- 46 days to 60 days: General public – 4.50%, Senior citizens – 5.00%
- 61 days to 89 days: General public – 4.50%, Senior citizens – 5.00%
- 90 days to 6 months: General public – 4.50%, Senior citizens – 5.00%
- 6 months 1 day to less than 9 months: General public – 5.75%, Senior citizens – 6.25%
- 9 months 1 day to less than 1 year: General Public – 6.00%, Senior citizens – 6.50%
- 1 year to less than 15 months: General public – 6.60%, Senior citizens – 7.10%
- 15 months to less than 18 months: General public – 7.10%, Senior citizens – 7.50%
- 18 months 1 day to less than 21 months: General public – 7.00%, Senior citizens – 7.50%
- 21 months to 2 years: General public – 7.00%, Senior citizens – 7.50%
- 2 years 1 day to less than 2 years 11 months: General public – 7.00%, Senior citizens – 7.50%
- 2 years 11 months to 35 months: General public – 7.00%, Senior citizens – 7.50%
- 2 years 11 months 1 day to 4 years 7 months: General public – 7.00%, Senior citizens – 7.50%
- 4 years 7 months 1 day to 5 years: General public – 7.00%, Senior citizens – 7.50%
- 5 years 1 day to 10 years: General Public – 7.00%, Senior citizens – 7.75%
These revised rates reflect HDFC Bank’s commitment to offering competitive and flexible banking options for its valued customers.
