HSBC raises resident FD rates by 0.5-0.75%

Banking major HSBC India today said it has raised its resident fixed deposit rates by 0.5-0.75% 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 0.5% to 8.5%.

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

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

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