The private sector lender is offering 4.5 percent interest on deposits that mature in 61 days to 6 months.

Deposits with a term of 46 to 60 days will earn 4 percent interest. For term deposits maturing 30 to 45 days, the bank is offering 3.5 percent interest. HDFC Bank is giving an interest rate of 3 percent for deposits maturing in 7 to 29 days. Banks like ICICI Bank, Kotak Mahindra Bank, State Bank of India (SBI), Axis Bank, IDFC First Bank and RBL Bank have hiked interest on term deposits recently as well. For senior citizens, these rates are between 3.5 percent and 7 percent. On FDs maturing in 7 days to 10 years, the bank is offering interest between 3 percent and 6.25 percent to the general public. The rates have been raised by up to 35 basis points (bps) on deposits of various tenors.

The revised interest rates came into effect on 8 November. Taking a cue from the RBI, HDFC Bank has raised the interest rates on fixed deposits (FDs) below Rs 2 crore.

Banks have been raising their interest rates on fixed deposits (FDs) after the Reserve Bank of India (RBI) started hiking the repo rate since May this year.