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RBI’s rate cut impact: HDFC Bank revises FD and savings account interest rates, check latest interest rates for different tenures

Word Count: 652 | Estimated Reading Time: 4 minutes

HDFC Bank, one of India’s leading private sector lenders, has revised interest rates on its fixed deposits (FDs) and savings accounts following the Reserve Bank of India’s (RBI) recent move to cut the repo rate by 50 basis points—from 6% to 5.5%.The bank has reduced FD rates by up to 25 basis points across select tenures for deposits below Rs 3 crore. The revised rates came into effect from June 10, 2025, and apply uniformly across all applicable maturity buckets.

Revised fixed deposit rates

Post revision, HDFC Bank now offers FD interest rates ranging from 2.75% to 6.60% per annum for general citizens and 3.25% to 7.10% for senior citizens. This is a reduction from the earlier range of 3.00% to 6.85% for the general public and 3.50% to 7.35% for senior citizens, according to an ET report.Below is a snapshot of the updated FD rates for less than Rs 3 crore:

Tenure	General Citizens (Per annum)	Senior Citizens (Per annum)
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 – 6 months	4.25%	4.75%
6 months 1 day – 9 months	5.50%	6.00%
9 months 1 day – <1 year	5.75%	6.25%
1 year – <15 months	6.25%	6.75%
15 months – <18 months	6.60%	7.10%
18 months – <21 months	6.60%	7.10%
21 months – 2 years	6.45%	6.95%
2 years 1 day – <2 years 11 months	6.45%	6.95%
2 years 11 months – ≤3 years	6.45%	6.95%
3 years 1 day – <4 years 7 months	6.40%	6.90%
4 years 7 months – ≤5 years	6.40%	6.90%
5 years 1 day – 10 years	6.15%	6.65%

Source: HDFC Bank website

Savings account interest rate revision

In addition to FD rates, HDFC Bank has revised its savings account interest rates, introducing a flat rate structure across all balance tiers. Effective June 10, 2025, all savings account holders will now earn a uniform interest rate of 2.75% per annum.Previously, the bank offered 2.75% for balances below Rs 50 lakh and 3.25% for balances of Rs 50 lakh and above.

Industry-wide impact

HDFC Bank’s rate revision follows similar moves by other major banks, including ICICI Bank, Canara Bank, and Kotak Mahindra Bank, which have also adjusted their fixed deposit rates in response to the RBI’s policy shift. The repo rate cut is expected to stimulate borrowing and impact returns on traditional savings instruments, affecting both investors and borrowers.

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