Earlier this week, HDFC Bank and the Bajaj Finance, a non-banking financial company (NBFC), have increased their fixed deposit (FD) rates for select tenures. The hikes have come a week before the Reserve Bank of India’s (RBI) monetary policy review. For example, for FDs for a three-five-year period, HDFC Bank is offering an interest rate of 5.35 per cent. For five to 10 years, it is 5.50 per cent.