Money & Banking

HSBC India raises resident FD rates

| Updated on: Feb 11, 2011

Banking major HSBC India on Friday said it has raised its resident fixed deposit rates by 0.5-0.75 per cent on select maturities.

The new rates are applicable with effect from February 9, the bank said in a statement here.

For deposits of 270-365 days, the interest rate has been increased by 0.50 per cent to 8.50 per cent.

For a term of 36-37 months, the rate has been increased by 0.75 per cent to 7.75 per cent, the statement said.

Senior citizens (above 60-years) will receive an additional 0.5 per cent over the board rates.

The fixed deposit rate available to senior citizens will be as high as 9 per cent per annum for 12-months and 8.5 per cent per annum for 731 days, the statement said.

Published on February 11, 2011

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