HDFC and Bajaj Finance increase rates on fixed deposits
Couple of non-bank lenders after inspired from global and local inflationary trends and hiked the interest rates on their fixed deposits (FDs). These interest rate increases are effective from today – December 1, 2021.
What has changed?
The FDs of HDFC will now offer up to 10 basis points for more across tenures. For 36 months, HDFC will now offer a 6.1 percent interest and for 60 months it will offer around 6.5 percent interest.
Senior Citizens will be getting to earn 25 basis points more than the card rates and investors making their fixed deposits online pocket 10 basis points extra. Earlier, HDFC was offering 6.05 percent and 6.4 percent on those fixed deposits, respectively.
Bajaj Finance (BFL) has also increased the rate of interest by up to 30 basis points. It will pay 6.4 percent interest on its 24 months FD compared to 6.1 percent earlier and 6.8 percent on 36 months deposit compared to 6.5 percent earlier.
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