FD Rates Update: If you’re planning to invest in a Fixed Deposit (FD), this update is important. Three of India’s top private banks—ICICI Bank, HDFC Bank, and Axis Bank—have reduced their FD interest rates.
The cut applies to deposits below ₹3 crore and ranges between 10 to 20 basis points (bps).
ICICI Bank’s new rates are effective May 27, 2025, HDFC Bank’s from May 23, 2025, and Axis Bank has also revised rates on select FDs recently.
ICICI Bank’s New FD Rates
ICICI Bank has reduced interest across several FD tenures:
Less than 1 year to 15 months: Down from 6.70% to 6.50%
15 months to 18 months: Down from 6.80% to 6.60%
18 months to 2 years: Down from 7.05% to 6.85%
2 years 1 day to 5 years: Down from 6.90% to 6.75%
5 years 1 day to 10 years: Down from 6.80% to 6.70%
5-Year Tax Saver FD: Now offers 6.75%
Interest Range:
General citizens: 3.00% to 7.05%
Senior citizens: 3.50% to 7.55%
Best Rate: 7.35% for 18 months to 2 years (senior citizens)
HDFC Bank’s Revised FD Rates
HDFC Bank, after already cutting rates by 50 bps in April, has again lowered rates for some tenures:
Less than 1 year 15 months: Reduced from 6.60% to 6.50%
18 months to 21 months: Reduced from 7.05% to 6.85%
Interest Range:
General citizens: 3.00% to 6.85%
Senior citizens: 3.50% to 7.35% (15 to 21 months offers highest rate)
Axis Bank’s FD Interest Rate Changes
Axis Bank has adjusted rates across multiple tenures:
3 months to less than 6 months: 4.75% (general), 5.25% (senior)
6 months to less than 9 months: 5.75% (general), 6.25% (senior)
9 months to less than 1 year: 6.00% (general), 6.50% (senior)
1 year to 1 year 10 days: 6.50% (general), 7.20% (senior)
1 year 11 days to less than 15 months: 6.50% (general), 7.00% (senior)
15 months to less than 18 months: 6.85% (general), 7.00% (senior)
18 months to less than 2 years: 6.75% (general), 7.35% (senior)
2 to less than 5 years: 6.75% (general), 7.25% (senior)
5 to 10 years: 6.70% (general), 7.45% (senior)
Things to Keep in Mind
All three banks offer slightly higher rates to senior citizens and allow premature withdrawals on most FD schemes.
If you’re considering an FD investment, compare these updated rates and choose the bank and tenure that offers the best return for your needs.
