HUDCO or the Housing and Urban Development Corporation Ltd. is a public undertaking of the Indian government. It is involved in urban development projects including providing low-cost housing to the masses. This state-owned financial institution also accepts public deposits and has a rating of AA+ from both Fitch and CARE, two leading rating agencies.
The above table depicts interest rates offered by the company on all its fixed deposit schemes. These rates are constantly monitored to reflect any changes made by the company.
The updated list of HUDCO FD Rates, for Regular and Senior Citizen, is listed below:
|Tenure||Regular FD Rate||Senior Citizen FD Rate|
|Upto Amount||Rs. 1 Crore||Rs. 1 Crore|
HUDCO offers FD schemes with tenures ranging from 1 year to 7 years with interest rates that range between 8.5% to 9.15%. The longest tenures of 6 and 7 years get depositors interest at 8.5%, while holdings of 4 and 5 years fetch 0.25% more at 8.75%.
The 2 and 3 year schemes earn interest at 9% and the highest rate offered by HUDCO is 9.15% for the 1-year scheme.
All senior citizen deposit holders at HUDCO earn 0.25% higher than standard interest rates. This brings rates to 9.4% for a 1-year deposit scheme and to 9.25% for deposits held for 2 or 3 years. The rate on deposits for 4 and 5 year periods is at 9% and is 0.25% lower at 8.75% for holdings beyond 5 years and up to 7 years.
All rates are on a quarterly compounding basis which makes these very attractive long-term investments.