Good news! These two banks have increased interest rates on Fixed Deposits

If you are one of those investors who want to make safe investments through Fixed Deposit (FD) Schemes then there is good news for you. Two banking giants of the country - HDFC Bank and ICICI Bank, have increased their interest rates on FDs, that is, now you will get more returns than before.

HDFC bank

HDFC Bank, the country's largest private sector lender, has implemented its new rates from 1 December 2021. Here are its new FD interest rates applicable from December 1.

• 7 - 14 days: 2.50%
• 15 - 29 days: 2.50%
• 30 - 45 days: 3.00%
• 46 - 60 days: 3.00%
• 61-90 days: 3.00%
• 91 days - 6 months: 3.50%
• 6 months 1 day - 9 months: 4.40%
• 9 months 1 day < 1 year: 4.40%
• 1 year: 4.90%
• 1 year 1 day - 2 years: 5.00%
• 2 years 1 day - 3 years: 5.15%
• 3 years 1 day - 5 years: 5.35%
• 5 years 1 day - 10 years: 5.50%

ICICI Bank

ICICI Bank offers fixed deposits ranging from 7 days to 10 years. ICICI Bank is offering an interest rate of 2.5% to 5.50% on deposits maturing in 7 days to 10 years. The new rates are applicable from November 16 2021.

• 7 days to 14 days: 2.50%
• 15 days to 29 days: 2.50%
• 30 days to 45 days: 3%
• 46 days to 60 days: 3%
• 61 days to 90 days: 3%
• 91 days to 120 days: 3.5%
• 121 days to 184 days: 3.5%
• 185 days to 210 days: 4.40%
• 211 days to 270 days: 4.40%
• 271 days to 289 days: 4.40%
• 290 days to less than 1 year: 4.40%
• 1 year to 389 days: 4.9%
• 390 days to <18 months: 4.9%
• 18 months to 2 years: 5%
• 2 years 1 day to 3 years: 5.15%
• 3 years 1 day to 5 years: 5.35%
• 5 years 1 day to 10 years: 5.50%

Notably, senior citizens get 0.50 per cent more interest on FDs than normal people on bank FDs.