The period of Fixed Deposit is calculated in number of days.”

In case, the Deposit is spread over a leap and a non-leap year, the interest is calculated based on the number of days i.e.,366 days in a leap year & 365 days in a non-leap year.

HDFC Bank has mentioned on its website that “The Bank computes interest based on the actual number of days in a year. Here are the revised interest rates on fixed deposits below Rs 2 crore at the HDFC Bank (per annum) effective from August 18:ħ days to 14 days: For General Public – 2.75 per cent For Senior Citizens – 3.25 per centġ5 days to 29 days: For General Public – 2.75 per cent For Senior Citizens – 3.25 per centģ0 days to 45 days: For General Public – 3.25 per cent For Senior Citizens – 3.75 per centĤ6 days to 90 days: For General Public – 3.25 per cent For Senior Citizens – 3.75 per centĩ1 days to 179 days: For General Public – 3.75 per cent For Senior Citizens – 4.25 per centġ80 days to 270 days: For General Public – 4.65 per cent For Senior Citizens – 5.15 per centĢ71 days to less than 1 year: For General Public – 4.65 per cent For Senior Citizens – 5.15 per centġ year: For General Public – 5.50 per cent For Senior Citizens – 6.00 per centĪbove 1 year to 2 years: For General Public – 5.50 per cent For Senior Citizens – 6.00 per centĪbove 2 Years to 3 Years: For General Public – 5.50 per cent For Senior Citizens – 6.00 per centĪbove 3 years to 5 years: For General Public – 5.75 per cent For Senior Citizens – 6.25 per centĪbove 5 years to 10 years: For General Public – 6.10 per cent For Senior Citizens – 6.60 per centġ111 days: For General Public – 5.75 per cent For Senior Citizens – 6.25 per cent

Meanwhile, on recurring deposits with terms ranging from 6 months to 120 months, HDFC Bank offers interest rates in the range of 3.75 per cent to 6.10 per cent for regular citizens and for senior citizens it ranges from 4.25 per cent to 6.60 per cent. This move comes on the heels of the Reserve Bank of India hiked repo rates by 50 basis points in its monetary policy meeting on August 8, 2022. These new rates announced will be effective from August 18, 2022. The private lender has increased interest rates across tenors by as up to 40 basis points (bps). HDFC Bank FD Rates: HDFC Bank has hiked its fixed deposit rates along with its recurring deposit.

Hdfc recurring deposit interest