HDFC Bank computes interest based on the actual number of days in a year.The country's largest private sector lender - HDFC Bank - offers interest up to 6.25 per cent on fixed deposit accounts less than Rs 2 crore, according to information on its website https://www.hdfcbank.com.
HDFC Bank offers minimum 2.5 per cent interest on fixed deposit with a tenor of 7-14 days.
Currently HDFC Bank is offering fixed deposits with tenors starting from seven days to 14 days to as long as 5 years 1 day to 10 years, HDFC Bank noted.
HDFC Bank offers an additional 0.25 per cent interest to resident senior citizens.
HDFC Bank fixed deposit accounts can be opened online or from any branch across the country.Tenor BucketInterest Rate (per annum)Interest Rate For Senior Citizen Rates (per annum)7 - 14 days2.50%3.00%15 - 29 days2.50%3.00%30 - 45 days3.00%3.50%46 - 60 days3.00%3.50%61 - 90 days3.00%3.50%91 days - 6 months3.50%4.00%6 months 1 days - 9 months4.40%4.90%1 year 1 day - 2 years4.90%5.40%2 years 1 day - 3 years5.15%5.65%3 year 1 day- 5 years5.30%5.80%5 years 1 day - 10 years5.50%6.25%Source: HDFC BankHDFC Bank computes interest based on the actual number of days in a year.
In case, the deposit is spread over a leap and a non-leap year, the interest is calculated based on the number of days that is,366 days in a leap year and 365 days in a non-leap year.
The period of Fixed Deposit is calculated in number of days, HDFC Bank added.HDFC Bank in the quarter ended June 2021 reported net profit of Rs 7,729 crore.