HDFC Bank launches 2 special tenure fixed deposit schemes

Schemes of 35- and 55-month tenures to give interest of 7.20 % and 7.25 % respectively

Udaipur : HDFC Bank, India’s leading private sector bank, today announced the launch of two special tenure fixed deposit schemes, with an overall tenure of 35 and 55 months. The special tenure fixed deposit schemes can be availed on deposits under Rs 2 crore.

Customers can avail 7.20 % interest on fixed deposits held for 35 months (2years and 11 months), and 7.25 % interest on fixed deposits held for 55 months (4years and 7months). In addition, senior citizen customers can avail an additional interest margin of up to 0.5 % over and above the accepted rate of interest.

As deposit rates are near their peak, the new Special Edition Fixed Deposit scheme will benefit customers looking to keep their money for extended term with assured high returns.

“HDFC Bank provides the best banking experience to its customers. We constantly innovate to deliver the best banking and savings solutions to customers. Investment in fixed deposits is one of the safest instruments for investment which provides assured returns. The new schemes will greatly benefit our customers and non-customers looking to keep their money safe for extended durations with high returns,” said Mr Ravi Santhanam, CMO, Head-Corporate Communications, Head-Liability Products and Managed Programs.

HDFC Bank is India’s largest private sector bank in the country with balance sheet size of over Rs 24 lakh crore.