HDFC Bank hikes fixed deposit interest rates twice in a week

India's largest private sector lender HDFC Bank has again increased its fixed deposit interest rates, within one week of doing the same.

The HDFC Bank FD rate hike is applicable on deposits less than Rs 2 crore.

The new HDFC Bank fixed deposit interest rates have already come into effect, according to the lender's website.

This has been implemented across different tenors. Senior citizens will get extra interest on HDFC Bank fixed deposits.

The HDFC Bank FD interest rates have come into effect from June 17, Friday. This comes as a direct result of the RBI hiking its repo rates by 50 basis points. 

After the latest hike by the lender, HDFC Bank FD rates have increased from 2.50 per cent to 2.75 per cent for tenures between 7 to 29 days, which is a 25 basis points increase. 

The lender hiked the interest rate on fixed deposits maturing between 30 to 90 days by 25 basis points, from 3 per cent to 3.25 per cent now.

For deposits maturing between 91 days to 6 months, a hike of 25 basis points have moved the interest rates from 3.25 per cent to 3.75 per cent.

Deposits maturing in other tenures too have seen a hike of 10 to 25 basis points, HDFC Bank said on its website.