New Delhi: Private sector lender HDFC Bank has hiked fixed deposit rates on retail deposits by 20 basis points with effect from June 10. The rates are applicable on various tenors.

HDFC Bank is offering FD rates at 7.10 percent for 15 to 18 months, FD rates at 6.60 percent for a one year to 15 months and FD rates at 7.25% for 18 months to less than 21 months.

Senior citizens will get 50 bps higher FD rates as compared to general public.

The move comes a week after the Reserve Bank of India (RBI) announced pause in its key lending rates in its monetary policy for the 8th consecutive time.