HDFC BANK HIKES DEPOSIT RATES

In a move that could signal hardening of interest rates, HDFC Bank today increased the rates on fixed deposits by up to 150 basis points across maturities. HDFC Bank is the second bank to increase deposit rates following the hike in the CRR by the R.B.I. Earlier, IDBI Bank had increased deposit rates by 25 basis points in some maturities.


On the three-year deposit, HDFC Bank has hiked the rate from 6 per cent to 7.25 per cent. But broadly the rates have been increased by 25-50 basis points.


Source: http://www.thehindubusinessline.com/2010/02/20/stories/2010022052970100.htm