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Our Bureau

Mumbai , Dec. 8

HDFC Bank has raised deposit rates by 25 basis points to 50 basis points across different tenors.

The new rates will be effective from December 10. The bank has also introduced a new maturity bucket of 5 to 8 years in its domestic term deposits scheme.

Lending rates across all retail loan products has also been hiked by 25-75 basis points, said Mr Neeraj Swaroop, Country Head, Retail Assets, HDFC Bank.

Mr Swaroop said the rise in both deposit and lending rates is indicative of rising interest rate scenario in the domestic market. "The increase in our interest rates is in line with the trends in the banking industry, and the current interest rate environment," he added.

More Stories on : Private Banks | Interest Rates | Fixed Deposits

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