HDFC Bank Reduces FD and Savings Account Interest Rates Following RBI Rate Cut
HDFC Bank has announced a reduction in interest rates on select fixed deposits (FDs) and savings accounts, effective June 10, 2025, following the Reserve Bank of India’s (RBI) surprise decision to cut the repo rate by 50 basis points to 5.5%. This moves by the central bank, aimed at enhancing liquidity and boosting lending, also included a 100 basis points cut in the Cash Reserve Ratio (CRR), bringing it down to 3%.
In line with this monetary easing, HDFC Bank has revised its fixed deposit rates for amounts below ₹3 crore. The maximum FD interest rate for general customers has been lowered to 6.6% per annum, down from the previous high of 6.85%. Senior citizens, however, continue to benefit from slightly higher rates, with a maximum interest of 7.10% per annum.
Revised Fixed Deposit Interest Rates – HDFC Bank (Below ₹3 Crore)
| Tenure | General Public | Senior Citizens |
| 7 – 14 days | 2.75% | 3.25% |
| 15 – 29 days | 2.75% | 3.25% |
| 30 – 45 days | 3.25% | 3.75% |
| 46 – 60 days | 4.25% | 4.75% |
| 61 – 89 days | 4.25% | 4.75% |
| 90 days to 6 months | 4.25% | 4.75% |
| 6 months 1 day to 9 months | 5.50% | 6.00% |
| 9 months 1 day to less than 1 year | 5.75% | 6.25% |
| 1 year to less than 15 months | 6.25% | 6.75% |
| 15 to <21 months | 6.60% | 7.10% |
| 21 months to <3 years | 6.45% | 6.95% |
| 3 to <5 years | 6.40% | 6.90% |
| 5 to 10 years | 6.15% | 6.65% |
Savings Account Rates Also Revised
Alongside FD rates, HDFC Bank has also revised its savings account interest rates, introducing a uniform rate of 2.75% per annum across all account balances. Previously, accounts with balances below ₹50 lakh earned 2.75%, while those with balances of ₹50 lakh or more earned 3.25%.
Other Major Banks Follow Suit
HDFC Bank is not alone in implementing rate reductions. Several major banks, including State Bank of India (SBI) and ICICI Bank, have announced similar cuts in savings account interest rates in June 2025:
Impact on Depositors
These widespread reductions across major banks reflect the financial sector’s alignment with the RBI’s policy shift. While the cuts are aimed at stimulating credit growth and economic activity, they pose a challenge for savers who now face significantly reduced returns on both fixed deposits and savings accounts.
The RBI’s shift from an “accommodative” to a “neutral” stance further indicates a recalibration of its monetary policy in response to evolving economic conditions.
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