reserve Bank of India (RBI) all banks of the country also started reducing the interest rates of FD after the repo rate was reduced. Many banks are still cutting FD interest rates, cutting it. In this connection, HDFC Bank of the private sector has reduced the interest rates of FD schemes with a select period. HDFC Bank has cut interest rates by up to 20 basis points i.e. 0.20 percent. Let us tell you that the biggest private bank has made this change for FDs less than Rs 3 crore. The bank’s new interest rates will be applicable from May 23, 2025. Earlier, HDFC Bank also cut FD rates by 50 basis points in April 2025.
General citizens will now get interest up to 6.85% on FD
After cutting FD interest rates, now ordinary citizens will get interest ranging from 3% to 6.85% on FDs. While senior citizens will be given interest ranging from 3.5% to 7.35%. Prior to this latest change, HDFC Bank was offering interest from 3% to 7.10% on FD and 3.5% to 7.55% to senior citizens. HDFC Bank has not reduced interest rates on FDs of all periods. This deduction has been done for only a few special FDs.
Interest rates of FD with duration of more than 1 year and less than 15 months decreased
HDFC Bank has cut the interest given by 0.10 percent to ordinary citizens on FDs with more than 1 year and less than 15 months. Now on this period FD, ordinary citizens will get an interest of 6.50 percent, which was 6.60% earlier. In addition, the bank has reduced the interest rate by 0.20 percent for the FD to be matured over a period of 18 months to 21 months, which has come down from 7.05% to 6.85%.
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