After the Reserve Bank of India (RBI) reduced the repo rate, all the banks of the country started reducing the interest rates of FDs. Many banks are still revising and reducing the interest rates of FDs.
In this connection, private sector HDFC Bank has reduced the interest rates of some selected tenure FD schemes. HDFC Bank has reduced the interest rates by 20 basis points i.e. up to 0.20 percent. Let us tell you that the largest private bank has made this change for FDs of less than Rs 3 crore. The new interest rates of the bank will be effective from May 23, 2025. Earlier, HDFC Bank had also reduced the FD rates by 50 basis points in April 2025.
Ordinary citizens will now get up to 6.85% interest on FD
After the reduction in FD interest rates, now general citizens will get interest ranging from 3% to 6.85% on FD. While senior citizens will be given interest ranging from 3.5% to 7.35%. Before this latest change, HDFC Bank was offering interest ranging from 3% to 7.10% on FD to general citizens and 3.5% to 7.55% to senior citizens. HDFC Bank has not reduced interest rates on FDs of all tenures. This reduction has been done only for FDs of certain tenures.
Interest rates for FDs with tenures of more than 1 year and less than 15 months reduced
HDFC Bank has reduced the interest rate given to ordinary citizens on FDs of more than 1 year and less than 15 months by 0.10 percent. Now ordinary citizens will get 6.50 percent interest on FDs of this duration, which was 6.60% earlier. Apart from this, the bank has reduced the interest rate by 0.20 percent for FDs maturing in a period of 18 months to less than 21 months, which has come down from 7.05% to 6.85%.
