Banks and financial institutions in India have started announcing rate hikes. State Bank of India (SBI) has increased the benchmark lending rate, or base rate, by 10 bps without waiting for the RBI to increase the repo rate or reverse repo rate. HDFC Bank and Ujjivan Small Finance Bank announced a hike in fixed deposit rates.
hdfc bank latest fd rates
HDFC bank Interest rates on fixed deposits (FDs) have been increased. The enhanced rates of interest are applicable on FDs with effect from 1st December 2021. HDFC Bank has increased rates by up to 10 basis points (bps) on select tenors.
Following the latest revision, HDFC Bank is offering 2.50% on deposits between 7 days and 29 days and 3% on deposits maturing in 30-90 days. 91 days to 6 months, 3.5% and 6 months to less than 1 year, 4.4%. The bank gives 4.9% on FDs maturing in one year. HDFC Bank has increased the interest rates by 10 basis points (bps) on deposits maturing in one year and two years. These deposits will now fetch an interest rate of 5%.
5.15% will be available on FD maturing in 2 years to 3 years. The bank has also increased the interest rates on deposits maturing in 3 years to 5 years. 5.35% interest will be given on these deposits, 5.50% interest will be given on deposits with maturity period of 5 years to 10 years.
Ujjivan Small Finance Bank Latest FD Rates
Ujjivan SFB It is now offering an interest rate of 6.6% for deposits from 19 months, one day to 24 months, for tenures up to 60 years for common citizen. The interest rate has been increased to 6.5% for a tenure of 12 months. The previous rates for these tenures were 6%. The new rates are applicable from December 9, 2021, the bank said.
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