The Indian operations of foreign lender, HSBC has raised interest rates on domestic fixed deposits in the range of 50-75 basis points across selected maturities.
The revised rates have come into effect from February 9, 2011.
Interest rates have been raised for deposits having tenor in the range of 270-365 days to 8.5%.
Deposits having maturity of 36-37 months will now fetch the depositor an interest of 7.75%.
Senior citizens will be offered interest of 50 bps more on all rates.
Interest rates for senior citizens will be as high as 9% for depostirs of maturity of 1 year and 8.5% for the 731 days deposits.