HDFC and Bank of Maharashtra customers will get more returns on FD! Check New Rates Here

Fixed Deposit Rates Hike: Inflation control has increased very rapidly in the last few years all over the world including India. In such a situation, the Reserve Bank of India is continuously taking big steps to control it. In the last five months, the Reserve Bank has increased its repo rate a total of 4 times. The repo rate has increased from 4.00% to 5.90%. This increase is directly affecting the customers of the bank. In the recent past, almost every major bank in the country has increased the interest rates of its fixed deposits scheme. Now the names of two big private and public sector banks have also been included in this list. This bank is HDFC Bank and Bank of Maharashtra.

By how much did HDFC Bank increase the interest rate-
HDFC Bank (HDFC Bank FD Rates Hike) has decided to increase the interest rate on its deposit scheme of less than Rs 2 crore. The bank has made a big increase of 75 basis points on FDs ranging from 7 days to 10 years. In such a situation, the bank is offering interest rates ranging from 3.00% to 6.00% to its ordinary citizens. At the same time, interest rates ranging from 3.50% to 6.75% are being offered to senior citizens. These new rates have come into effect from 11 October 2022. Let us know how much interest rate the bank is offering to ordinary citizens on different periods-

• 7-14 days-3.00%
• 15-29 days-3.00%
• 30-45 days-3.50%
• 46-60 days-3.50%
• 61-89 days-4.00%
• 90 days to 6 months -4.25%
• 6 to 9 months – 5.00%
• 9 to 1 year -5.00%
• 1 year-5.70%
• 1 to 2 years -5.70%
• 2 to 3 years – 5.80%
• 3 to 5 years -6.10%
• 5 to 10 years – 6.00%

By how much did Bank of Maharashtra increase the interest rate-
At the same time, the government sector bank of the country i.e. Bank of Maharashtra (Bank of Maharashtra FD Rate Hike) has also decided to increase the interest rate on its FDs less than Rs 2 crore. The bank has increased 85 basis points on FDs of different tenors. These new rates have come into effect from 10 October 2022. The bank is offering interest rates ranging from 2.75% to 5.50% on FDs of 7 days to 10 years. If you are also planning to open a fixed deposit account in the bank, then we are giving you information about the rates of different tenures. This rate of interest is applicable on the FD scheme of ordinary citizens-

• 7-30 days-2.75%
• 31-45 days-3.00%
• 46-90 days-3.50%
• 91-119 days-4.50%
• 120-180 days -4.75%
• 181-270 days-5.00%
• 271-299 days-5.00%
• 300 days-5.25%
• 301-364 Count-5.00%
• 365 days-5.40%
• 1 year to 399 days-5.60%
• 400 days-5.70%
• 401 to 2 years -5.60%
• 2 to 3 years – 5.50%
• 3 to 5 years – 5.50%
• over 5-5.50%

These banks also increased their interest rates
Let us tell you that since the decision of RBI to increase the repo rate on 30 September, many banks in the country have decided to give higher interest rates on their fixed deposit schemes. In this, the names of many banks like Canara Bank, IDFC First Bank, ICICI Bank, Axis Bank, Dhanlaxmi Bank, Yes Bank are included in this list.

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