HSBC India increase interest rates on FDs

For domestic fixed deposits under Rs 2 crore, HSBC India has raised the interest rate. The revised rates took effect on December 19, 2022, according to the bank’s official website.

Following the most recent revision, the bank now provides interest rates on deposits expiring in 7 days to 60 months that range from 2.85 percent to 6 percent for the general public and from 3.35 percent to 6.50 percent for senior citizens. HSBC India now offers elderly people a maximum standard interest rate of 7% and 7.50% on deposits maturing in 36 months to less than 37 months.

The bank is currently offering a 2.85 percent interest rate on deposits that mature in 7 to 8 days. Deposits with maturities between 9 and 29 days are eligible for a 3% interest rate from HSBC India. For FDs that mature in 30 to 59 days and 60 to 89 days, respectively, HSBC India offers interest rates of 3.40 percent and 3.60 percent. Deposits with maturities of 90 to 94 days and 95 to 179 days will now receive interest at rates of 3.80% and 4.00%, respectively.

HSBC India

The bank gives a 4.50 percent interest rate on deposits that mature in 180 days, and HSBC Bank offers a 3.25 percent interest rate on deposits that mature in 181 to 269 days. For deposits that mature in 400 days, HSBC Bank gives a 3.25% interest rate, while for deposits that mature between 270–399 days, it offers a 3.10% interest rate. Deposits that will mature in the next 401 days to less than 18 months will now earn interest at a rate of 6.25 percent, while those that will mature in the next 18 months to 599 days will now earn interest at a rate of 3.30 percent.

The bank provides a 3.75 percent interest rate on FDs with maturities between 601 and 699 days and 600 days. 3.30 percent interest rates are available from HSBC Bank. HSBC Bank will pay 3.75 percent interest on deposits that mature in 700 days, and 3.50 percent on on deposits that mature in 701 to 731 days. A 6.50 percent interest rate is paid on deposits that mature in 732 days or less than 36 months, and a 7 percent interest rate is paid on deposits that mature in 36 months or less than 37 months. FDs from HSBC Bank have an interest rate of 6.00% and have maturities between 37 and 60 months.

The post HSBC India raises interest rates on FDs; senior citizens earn 7.50% on select tenure appeared first on IndiaFrontline.