Indian private sector bank HDFC Bank on Tuesday, May 30, introduced two special tenure fixed deposit schemes, catering to customers seeking higher returns. With tenures of 35 and 55 months respectively, these schemes offer interest rates of 7.20 percent and 7.25 percent.

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Designed specifically for deposits under Rs 2 crore, these special tenure fixed deposit schemes will provide an attractive opportunity for customers to maximise their savings. Additionally, senior citizen customers can enjoy an extra interest margin of up to 0.5 percent above the accepted rate.

The introduction of these schemes comes at a time when deposit rates are near their peak, making it an opportune moment for individuals looking for long-term investments with assured high returns.

Mr. Ravi Santhanam, CMO, Head-Corporate Communications, Head-Liability Products, and Managed Programs at HDFC Bank, expressed his views on the new schemes, saying, "Investment in fixed deposits is one of the safest instruments for investment which provides assured returns. The new schemes will greatly benefit our customers and non-customers looking to keep their money safe for extended durations with high returns."

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