HDFC Bank, one of the largest private sector banks in India, has surprised its customers by reducing the interest rates on fixed deposits (FDs) from April 1, 2025.
The bank has lowered the FD interest rates by 0.20%, joining the trend of banks adjusting rates following the Reserve Bank of India’s (RBI) recent repo rate cut.
Reason for the Rate Cut
The reduction in FD interest rates comes after the RBI lowered the repo rate in its previous monetary policy.
With expectations that the RBI may reduce the repo rate further in its upcoming meeting, many banks, including HDFC Bank, have decided to adjust their rates.
New FD Interest Rates by HDFC Bank (Up to Rs 3 Crore)
Here are the revised interest rates for various FD tenures:
7 to 14 days:
General public: 3%
Senior citizens: 3.50%
15 to 29 days:
General public: 3%
Senior citizens: 3.50%
30 to 45 days:
General public: 3.50%
Senior citizens: 4%
46 to 60 days:
General public: 4.50%
Senior citizens: 5%
61 to 89 days:
General public: 4.50%
Senior citizens: 5%
90 days to 6 months:
General public: 4.50%
Senior citizens: 5%
6 months 1 day to less than 9 months:
General public: 5.75%
Senior citizens: 6.25%
9 months 1 day to less than 1 year:
General public: 6%
Senior citizens: 6.50%
Less than 1 year to 15 months:
General public: 6.60%
Senior citizens: 7.10%
15 months to less than 18 months:
General public: 7.10%
Senior citizens: 7.60%
18 months 1 day to less than 21 months:
General public: 7.25%
Senior citizens: 7.75%
21 months to 2 years:
General public: 7%
Senior citizens: 7.50%
2 years 1 day to less than 2 years 11 months:
General public: 7%
Senior citizens: 7.50%
2 years 11 months 1 day to 35 months:
General public: 7%
Senior citizens: 7.50%
2 years 11 months 1 day to 3 years:
General public: 7%
Senior citizens: 7.50%
3 years 1 day to 4 years 7 months:
General public: 7%
Senior citizens: 7.50%
4 years 7 months to 55 months:
General public: 7%
Senior citizens: 7.50%
4 years 7 months 1 day to less than 5 years:
General public: 7%
Senior citizens: 7.50%
5 years to 10 years:
General public: 7%
Senior citizens: 7.50%
These revised rates are effective from today, April 1, 2025.
