Private sector HDFC Bank has hiked term deposits rates by up to 1 per cent on select brackets.
With the rate increase, the term deposits of 2 years 1 day-2 years 15 days would earn 1 per cent higher interest at 7 per cent while 1 year 17 days- 2 years will fetch 0.75 per cent higher return at 7 per cent, HDFC Bank said on its website.
Similarly, interest rate beyond maturity period over 2 years 15 days up to 5 years have been raised to 7 per cent, it said.