Private sector HDFC Bank has revised the interest rates on fixed deposits. The bank will now pay 7.40% interest to the general public and up to 7.9% for senior citizens on deposits ranging from ₹3 crore to ₹5 crore.
Bank Interest Rates: If you deposit money in private sector HDFC Bank, then this news is useful for you. Actually, the bank has revised the interest rates of FD i.e. fixed deposit for both senior citizens and the general public. On deposits of ₹3 crore to ₹5 crore, the bank will now pay 7.40% interest to the general public and 7.9% interest to senior citizens.
What is the interest rate for which period
HDFC Bank deposits are getting 4.75% and 5.50% interest for a period of 7 to 29 days and 30 to 45 days. Apart from this, investors can earn 5.75% interest on deposits with a period of 46 to 60 days and 6% interest for a period of 61 to 89 days. The bank offers several deposit options with a period ranging from 7 days to 10 years.
Changes in MCLR
With this, HDFC Bank has revised the marginal cost based lending rate (MCLR). The new rates range from 9.15% to 9.45% per annum. The MCLR has been reduced from 9.15% to 9.20%. The one-month MCLR remains at 9.20%, while the three-month rate is still at 9.30%. The MCLR for six-month and one-year tenures has increased from 9.50% to 9.45%. Meanwhile, the three-year and two-year MCLR stands at 9.45%.
Axis Bank
For the general public, Axis Bank offers up to 7.30% interest on deposits between ₹3 crores to ₹5 crores for a period of one year, 11 days to one year, 24 days. At the same time, one can get up to 7.0% interest on deposits for a period of two years to 30 months. For senior citizens, the bank offers 7.80% interest for a period of one year, 11 days to one year, 24 days and 7.50% interest on deposits for a period of two years to 30 months.
State Bank of India (SBI)
Talking about the country’s largest government bank, it offers up to 7.0% interest to general customers and up to 7.50% to senior citizens on deposits of ₹3 crores and above. At the same time, PNB gives 7.25% interest to general customers and 7.55% interest to senior citizens on one-year deposits ranging from ₹ 3 crore to ₹ 10 crore.
