After HDFC Bank raised rates on retail FDs with a value of less than Rs2 crore, the private sector lender has now raised rates of bulk FDs of more than Rs 2 crore to less than Rs5 crore. After the rate revision, the bank is now offering rates on deposits with terms ranging from seven days to 10 years, starting from 4.75 per cent to 7.00 per cent for the general public and for elderly individuals from 5.25 per cent to 7.75 per cent.
The bank is giving a maximum interest rate of 7.75 per cent for senior citizens and 7.25 per cent for non-senior citizens on deposits with a tenor of one year to 15 months. The new rates are effective Thursday (March 9) onwards.
Check HDFC Bank Bulk FD Rates
The bank is now giving an interest rate of 4.75 per cent on bulk fixed deposits that mature in 7 days to 29 days, while 5.50 per cent is offered on bulk fixed deposits that mature in 30 days to 45 days. You will get 5.75 per cent interest for deposits held for 46 to 60 days and 6.00 per cent for deposits held for 61 to 89 days.
The interest rate on deposits that mature in 90 days to 6 months is 6.50 per cent, and the interest rate on deposits that mature in 6 months, 1 day to 9 months, is 6.65 per cent. While depositors will get an interest rate of 6.75 per cent on bulk fixed deposits that mature in 9 months, 1 day to 1 year, the interest rate of 7.25 per cent is offered on bulk fixed deposits that mature in 1 year to 15 months. As of right now, HDFC Bank is offering an interest rate of 7.15% on a deposit tenor of 15 months to 2 years and an interest rate of 7.00% on a deposit tenor of 2 years 1 day to 10 years.
On bulk fixed deposits maturing in 7 days to 5 years, HDFC Bank offers an additional benefit of 50 bps to senior citizens in terms of interest rates. Nevertheless, HDFC guarantees an additional premium of 0.25 per cent over and above the existing premium of 0.50 per cent to elderly persons who desire to book a fixed deposit of less than 5 crores on a deposit tenor of 5 years 1 day to 10 years.
| Tenor Bucket | >=2 Crore to < 5 Crores | |
|---|---|---|
| Interest Rate (per annum) | **Senior Citizen Rates (per annum) | |
| 7 - 14 days | 4.75% | 5.25% |
| 15 - 29 days | 4.75% | 5.25% |
| 30 - 45 days | 5.50% | 6.00% |
| 46 - 60 days | 5.75% | 6.25% |
| 61 - 89 days | 6.00% | 6.50% |
| 90 days <= 6 months | 6.50% | 7.00% |
| 6 mnths 1 day <=9mnths | 6.65% | 7.15% |
| 9 mnths 1 day to < 1 Year | 6.75% | 7.25% |
| 1 Year to < 15 months | 7.25% | 7.75% |
| 15 months to < 18 months | 7.15% | 7.65% |
| 18 months to < 21 months | 7.15% | 7.65% |
| 21 months to 2 years | 7.15% | 7.65% |
| 2 year 1 day to 3 years | 7.00% | 7.50% |
| 3 year 1 day to 5 years | 7.00% | 7.50% |
| 5 year 1 day to 10 years | 7.00% | 7.75%* |
Source: HDFC Bank