HDFC Bank, India’s largest private sector bank, has reduced its fixed deposit (FD) interest rates, surprising many customers.
This change took effect on April 1, 2025, the first day of the new financial year.
The bank has lowered FD rates by 0.20%, following the Reserve Bank of India’s (RBI) recent decision to cut the repo rate.
Speculation suggests that the RBI may further reduce the repo rate in its upcoming April meeting.
Revised FD Interest Rates by HDFC Bank
After the RBI’s rate cut, several banks have reduced their FD interest rates, and HDFC Bank has now followed suit.
The bank has lowered the interest rate by 20 basis points (0.20%) for fixed deposits of 2 years or more.
HDFC Bank offers FD options ranging from 7 days to 10 years, with the revised rates applicable from April 1, 2025.
Updated FD Interest Rates for Deposits Up to Rs 3 Crore
Here are the new FD interest rates:
7 days to 14 days: General – 3%, Senior Citizens – 3.50%
15 days to 29 days: General – 3%, Senior Citizens – 3.50%
30 days to 45 days: General – 3.50%, Senior Citizens – 4%
46 days to 60 days: General – 4.50%, Senior Citizens – 5%
61 days to 89 days: General – 4.50%, Senior Citizens – 5%
90 days to 6 months: General – 4.50%, Senior Citizens – 5%
6 months 1 day to less than 9 months: General – 5.75%, Senior Citizens – 6.25%
9 months 1 day to less than 1 year: General – 6.00%, Senior Citizens – 6.50%
1 year to 15 months: General – 6.60%, Senior Citizens – 7.10%
15 months to less than 18 months: General – 7.10%, Senior Citizens – 7.60%
18 months 1 day to less than 21 months: General – 7.25%, Senior Citizens – 7.75%
21 months to 2 years: General – 7.00%, Senior Citizens – 7.50%
2 years 1 day to less than 2 years 11 months: General – 7.00%, Senior Citizens – 7.50%
2 years 11 months 1 day to 35 months: General – 7.00%, Senior Citizens – 7.50%
2 years 11 months 1 day to 3 years: General – 7.00%, Senior Citizens – 7.50%
3 years 1 day to 4 years 7 months: General – 7.00%, Senior Citizens – 7.50%
4 years 7 months to 55 months: General – 7.00%, Senior Citizens – 7.50%
4 years 7 months 1 day to less than 5 years: General – 7.00%, Senior Citizens – 7.50%
5 years to 10 years: General – 7.00%, Senior Citizens – 7.50%
These revised rates apply to both new and renewing fixed deposit accounts. Customers should review their investment plans in light of these changes.
