HDFC Bank reduces FD interest rates by 50 bps

HDFC Bank has reduced the interest rates on its fixed deposit accounts by up to 50 basis points (bps) on select tenures. The lower FD rates are applicable for FD amounts below Rs 3 crore. The new rates are applicable from today, i.e., April 19, 2025. Earlier, the bank also reduced the savings account interest rate by 25 basis points. The reduction in the savings account and fixed deposit interest rate has come after the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points each time in MPC meet of February and April this year.

After the FD rate cut, the bank offers FD interest rates between 3% and 7.10% for general citizens and 3.5% to 7.55% for senior citizens.

Also read: HDFC Bank lowers savings interest rates after three years; Comparison with SBI, ICICI & PNB

For which tenures has the bank reduced FD interest rates?
The FD interest rate has been reduced for certain tenures only.

For FD tenures of 15 months to less than 18 months, the rate has been reduced by five basis points, from 7.10% to 7.05%. For FD deposits maturing in 18 months to less than 21 months, the bank has cut the rate by 20 basis points, i.e., to 7.05% from 7.25%. For the 21‑month to 2‑year FD deposits, the current rate now stands at 6.70%, down from 7.00%, a decrease of 30 basis points for general citizens.

For tenures of 2 years 1 day but up to less than 3 years, the FD rate has been reduced by 10 basis points, from 7.00% to 6.90%. For deposits held for 3 years 1 day to under 5 years, the interest rate has been lowered to 6.75% from 7.00%, representing a 25-basis-point reduction. Finally, for long‑term FDs of 5 years 1 day to 10 years, the rate now is 6.50%, down from 7.00%, a cut of 50 bps.

Latest HDFC Bank FD interest rates
There is no change in the one-year FD interest rate. The general public can book an FD at 6.60% per annum for one year, and senior citizens can book an FD at 7.10% per annum for a one-year FD. However, senior citizens will get the highest FD interest rate of 7.55% per annum on booking a 15-month to 18-month tenure FD.

It is essential to note that the bank discontinued the special edition FD scheme, which offered higher interest rates, effective April 1, 2025.

HDFC Bank savings account interest rates
Before revising the FD interest rate, the bank has also cut the interest rate offered on the savings account.

Under the newly revised structure, effective April 12, 2025, the interest rate for savings account balances has been lowered across both deposit slabs:

• For balances less than Rs 50 lakh, the interest rate has been revised to 2.75% per annum, down from 3.00% per annum.
• For balances of Rs 50 lakh and above, the interest rate now stands at 3.25% per annum, compared to the earlier rate of 3.50% per annum