![]() HDFC Bank offers interest rates from 3 to 6.35 on FDs. This rule has come into effect since April 2019. It is deducted at 10 on the interest earned which exceeds Rs. TDS (Tax Deducted at Source) is applicable on Recurring Deposits. ![]() It is usually 0.5 more than the regular interest given to others. Milestone Alert!Livemint tops charts as the fastest growing news website in the world □ Click here to know more. HDFC Bank offers interest ranging from 2.50 to 5.60 on deposits maturing between 7 days and 10 years. Senior citizens are given a higher rate of interest. As the inflation rate in India is on a higher trajectory, most of the banks are increasing FD rates to protect the consumer against future rises in inflation," said Ravi Singhal of GCL Securities. This occurs because lenders will demand higher interest rates as compensation for the decrease in purchasing power of the money they are paid in the future. Over 1000 HDFC Bank touch points globally. The higher the inflation rate, the more interest rates are likely to rise. Click here to view the latest interest rates for a NRO Fixed Deposit. “Inflation is one of the major causes that affects interest rate levels. Check Shriram Finance Fixed Deposit interest rates and charges. ![]() Why are banks increasing FD interest rates? A Fixed Deposit is a safe investment and independent of market fluctuations.
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