HDFC Bank Cuts FD Interest Rates By Up To 50 Bps: Here Are the Latest Rates

HDFC Bank has lowered interest rates on select fixed deposit (FD) tenures by up to 50 basis points (bps) for deposits below Rs 3 crore. The revised FD rates come into effect on Saturday, April 19, 2025. This move follows an earlier reduction of 25 bps in the bank’s savings account interest rate. Both rate cuts come in the wake of the Reserve Bank of India (RBI) trimming the repo rate by 25 basis points each during its Monetary Policy Committee (MPC) meetings in February and April this year.

Following the FD rate revision, HDFC Bank now offers interest rates ranging from 3 per cent to 7.10 per cent for regular customers, and from 3.5 per cent to 7.55 per cent for senior citizens.

Which FD Tenures Have Seen a Rate Cut?

HDFC Bank has made adjustments to the interest rates for specific fixed deposit tenures. For FDs with a tenure of 15 months to less than 18 months, the rate has been reduced by 5 basis points, from 7.10 per cent to 7.05 per cent. For deposits maturing between 18 months and less than 21 months, the rate has been cut by 20 basis points, from 7.25 per cent to 7.05 per cent. The most significant decrease applies to 21-month to 2-year FDs, where the rate has dropped by 30 basis points, from 7.00 per cent to 6.70 per cent for general depositors.

HDFC Bank has also revised interest rates for several medium- to long-term fixed deposit tenures. For deposits maturing between 2 years and 1 day to just under 3 years, the rate has been trimmed by 10 basis points to 6.90 per cent from the earlier 7.00 per cent. FDs with a duration of 3 years and 1 day up to less than 5 years now earn 6.75 per cent, marking a 25 basis point reduction. The most significant cut applies to long-term deposits of 5 years and 1 day up to 10 years, where the rate has dropped by 50 basis points to 6.50 per cent from 7.00 per cent.

There has been no change in the interest rate for one-year fixed deposits. The general public can continue to book one-year FDs at an interest rate of 6.60 per cent per annum, while senior citizens can avail of a rate of 7.10 per cent per annum for the same tenure. However, senior citizens will receive the highest FD interest rate of 7.55 per cent per annum if they book a 15-month to 18-month tenure FD.

It is important to note that HDFC Bank has discontinued its special edition FD scheme, which previously offered higher interest rates. This change took effect on April 1, 2025.

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Revised Account Interest Rates

Additionally, HDFC Bank has revised its savings account interest rates. As of April 12, 2025, the new rates are lower across both deposit slabs. For balances below Rs 50 lakh, the interest rate has been reduced to 2.75 per cent per annum, down from 3.00 per cent per annum. For balances of Rs 50 lakh and above, the rate now stands at 3.25 per cent per annum, a decrease from the earlier rate of 3.50 per cent per annum.

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