Fixed Deposit rates: Senior citizens can earn up to 7.5 percent interest in this bank; check details here
Senior citizens are being offered an additional interest rate of 0.5 percent by HSBC India on FDs of all tenures.
Photo for representation
Various banks have hiked the interest rates on their fixed deposits (FDs) across India. The banks include DCB Bank, State Bank of India (SBI), and Kotak Mahindra Bank. This comes after the Reserve Bank of India (RBI) hiked repo rate by 35 basis points (bps) to 6.25 percent. RBI has been raising the repo rate to contain the rising inflation since May. HSBC India has hiked the interest rates on domestic FDs of less than Rs 2 crore. The revised rates came into effect from 19 December 2022. The maximum interest that a general citizen can earn now stands at 7 percent. On the other hand, senior citizens can earn up to 7.5 percent interest.
HSBC Bank revised FD rates 2022
The bank is offering 2.85 percent interest on deposits maturing in seven to eight days. It is providing an interest rate of 3 percent on FDs with a tenure of nine to 29 days. For term deposits maturing in 30-59 days, HSBC is offering 3.4 percent interest. The lender is giving 3.6 percent interest on FDs maturing in 60-89 days. FDs maturing in 90-94 days and 95-179 days will now attract an interest rate of 3.8 percent and 4 percent, respectively.
An interest rate of 4.5 percent will be offered on deposits maturing in 180 days. HSBC Bank is giving 3.25 percent return on deposits with a tenure of 181-269 days. HSBC Bank is offering 3.1 percent interest on FDs maturing in 270-399 days. FDs with a tenure of 400 days will attract an interest rate of 3.25 percent. Deposits maturing in 401 days to less than 18 months will now receive 6.25 percent interest. FDs maturing in 18 months to 599 days will earn 3.3 percent return.
HSBC Bank is offering 3.75 percent interest on deposits maturing in 600 days. On term deposits with a tenure of 601-699 days, the interest rate offered is 3.3 percent. FDs with a maturity period of 700 days will earn a 3.75 percent interest. Furthermore, deposits maturing in 701 to 731 days will attract 3.5 percent returns.
The lender is providing 6.5 percent interest on deposits maturing in 732 days to less than 36 months. The interest rate stands at 7 percent on FDs maturing in 36 months to less than 37 months. HSBC Bank is providing an interest rate of 6 percent on FDs with a tenure of 37 to 60 months. Senior citizens will get an additional interest rate of 0.5 percent on term deposits of all tenures.
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