Let us look into a historical background before going into HDFC bank fixed deposit interest rates, recurring deposit and savings bank deposit interest rates. The Development Finance Corporation Limited or HDFC was among the primary financial institutions in India to receive an “in principle” approval from the Federal Reserve Bank of India (RBI) to line up a bank within the private sector. This was done as a part of RBI’s policy for liberalization of the Indian banking system in 1994.
HDFC Bank was incorporated in August 1994 within the name of HDFC Bank Limited, with its registered office in Mumbai, India. The bank commenced operations as a Scheduled full service bank in January 1995.
On 23 May, 2008, Centurion Bank of Punjab (CBoP) amalgamated with HDFC bank. As per the scheme CBoP received 1 share of HDFC bank for every 29 shares of CBoP. Another amalgamation of Times Bank limited with HDFC bank was made on February 26, 2000. In this amalgamation process 1 share of HDFC bank was received by times bank for their every 5.75 shares.
HDFC bank Fixed deposit interest rates
| Tenure | For deposits less than 2 Crore | For deposits greater than 2 Crore but less than 5 Crore | ||
| Interest Rate (per annum) | Senior Citizen Rates (per annum) | Interest Rate (per annum) | Senior Citizen Rates (per annum) | |
| 7 – 14 days | 3.00% | 3.50% | 3.00% | 3.50% |
| 15 – 29 days | 3.50% | 4.00% | 3.00% | 3.50% |
| 30 – 45 days | 4.25% | 4.75% | 3.50% | 4.00% |
| 46 – 60 days | 4.75% | 5.25% | 3.75% | 4.25% |
| 61 – 90 days | 4.75% | 5.25% | 3.75% | 4.25% |
| 91 days – 6 months | 4.75% | 5.25% | 4.25% | 4.75% |
| 6 months 1 days – 9 months | 5.25% | 5.75% | 5.00% | 5.50% |
| 9 months 1 day < 1 Year | 5.50% | 6.00% | 5.00% | 5.50% |
| 1 Year | 5.80% | 6.30% | 5.25% | 5.75% |
| 1 year 1 day – 2 years | 5.80% | 6.30% | 5.25% | 5.75% |
| 2 years 1 day – 3 years | 6.00% | 6.50% | 5.25% | 5.75% |
| 3 year 1 day- 5 years | 6.00% | 6.50% | 5.25% | 5.75% |
| 5 years 1 day – 10 years | 6.00% | 6.50% | 5.25% | 5.75% |
HDFC bank recurring deposit interest rates
| Tenure | Rate of Interest (per annum) | Senior Citizen Rates (per annum) | |
| 6 Months | 4.75% | 5.25% | |
| 9 Months | 5.25% | 5.75% | |
| 1 Year | 5.80% | 6.30% | |
| 15 Months | 5.80% | 6.30% | |
| 2 Year | 5.80% | 6.30% | |
| 27 Months | 6.00% | 6.50% | |
| 3 Year | 6.00% | 6.50% | |
| 39 Months | 6.00% | 6.50% | |
| 4 Year | 6.00% | 6.50% | |
| 5 Year | 6.00% | 6.50% | |
| 90 Months | 6.00% | 6.50% | |
| 10 Years | 6.00% | 6.50% | |
Savings bank deposit rate of interest
| Savings Bank balance | Rate of Interest |
| Rs. 500 Crore and above | RBI Repo rate + 2 basis points |
| Rs. 50 lakh and above but less than Rs. 500 Crore | 3.75% |
| Below Rs 50 lakh | 3.25% |
That’s all for HDFC bank fixed deposit interest rates as well as recurring deposit interest rates. Hope you have understood better. Thanks for visiting us !