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HDFC Bank reduces fixed deposit interest rate; senior citizens can earn up to 7.35%
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6 min read | Updated on May 26, 2025, 16:35 IST
SUMMARY
HDFC Bank has reduced its fixed deposit (FD) interest rates by up to 20 bps effective May 23, 2025. The rate cuts have been introduced for FDs below ₹3 crore with select tenures. Previously, the bank reduced FD rates by 50 bps in April after the RBI cut the repo rate.
HDFC Bank offers interest rates between 4.50% and 6.85% on recurring deposits for general citizens.
HDFC Bank has cut interest rates for its fixed deposit (FD) schemes by up to 20 basis points (bps). After the Reserve Bank of India (RBI) announced a repo rate cut of 25 bps in April 2025, several banks across the country have reduced FD interest rates to align with the current market situation.
HDFC Bank’s fixed deposit interest rates now stand between 3% and 6.85% for the general public and between 3.5% and 7.35% for senior citizens, effective from May 23, 2025. Before this, the rates stood between 3% and 7.10% for general citizens and between 3.5% to 7.55% for senior citizens.
The bank has reduced interest rates for some selected tenures, including FDs for one year to less than 15 months (10 bps interest rate cut) and 18 months to less than 21 months (20 bps interest rate cut).
| Tenor | Interest Rate (per annum) | Senior Citizen Rates (per annum) |
|---|---|---|
| 7 - 14 days | 3.00% | 3.50% |
| 15 - 29 days | 3.00% | 3.50% |
| 30 - 45 days | 3.50% | 4.00% |
| 46 - 60 days | 4.50% | 5.00% |
| 61 - 89 days | 4.50% | 5.00% |
| 90 days to 6 months | 4.50% | 5.00% |
| More than 6 months 1 day to 9 months | 5.75% | 6.25% |
| More than 9 months 1 day to less than 1 year | 6.00% | 6.50% |
| 1 year to less than 15 months | 6.50% | 7.00% |
| 15 months to less than 18 months | 6.85% | 7.35% |
| 18 months to less than 21 months | 6.85% | 7.35% |
| 21 months to 2 years | 6.70% | 7.20% |
| More than 2 years 1 day to less than 2 years 11 months | 6.70% | 7.20% |
| 2 years 11 months to 35 months | 6.70% | 7.20% |
| More than 2 years 11 months 1 day to 3 years | 6.70% | 7.20% |
| More than 3 years 1 day to less than 4 years 7 months | 6.65% | 7.15% |
| 4 years 7 months to 55 months | 6.65% | 7.15% |
| More than 4 years 7 months 1 day to 5 years | 6.65% | 7.15% |
| More than 5 years 1 day to 10 years | 6.40% | 6.90% |
Recurring deposit interest rates
For recurring deposits (RDs), HDFC Bank offers interest rates between 4.50% and 6.85% for general citizens and between 5% and 7.35% for senior citizens.
Here are the RD interest rates offered by HDFC Bank:
| Period | Interest Rate (per annum) | Senior Citizen Rate (per annum) | Effective From |
|---|---|---|---|
| 6 Months | 4.50% | 5.00% | Jan 24, 2023 |
| 9 Months | 5.75% | 6.25% | Jan 24, 2023 |
| 12 Months | 6.50% | 7.00% | May 23, 2025 |
| 15 Months | 6.85% | 7.35% | May 23, 2025 |
| 18 Months | 6.85% | 7.35% | May 23, 2025 |
| 21 Months | 6.70% | 7.20% | Apr 19, 2025 |
| 24 Months | 6.70% | 7.20% | Apr 19, 2025 |
| 27 Months | 6.70% | 7.20% | May 23, 2025 |
| 30 Months | 6.70% | 7.20% | May 23, 2025 |
| 33 Months | 6.70% | 7.20% | May 23, 2025 |
| 36 Months | 6.70% | 7.20% | May 23, 2025 |
| 39 Months | 6.65% | 7.15% | May 23, 2025 |
| 42 Months | 6.65% | 7.15% | May 23, 2025 |
| 45 Months | 6.65% | 7.15% | May 23, 2025 |
| 48 Months | 6.65% | 7.15% | May 23, 2025 |
| 51 Months | 6.65% | 7.15% | May 23, 2025 |
| 54 Months | 6.65% | 7.15% | May 23, 2025 |
| 57 Months | 6.65% | 7.15% | May 23, 2025 |
| 60 Months | 6.65% | 7.15% | May 23, 2025 |
| 63 Months | 6.40% | 6.90% | May 23, 2025 |
| 66 Months | 6.40% | 6.90% | May 23, 2025 |
| 69 Months | 6.40% | 6.90% | May 23, 2025 |
| 72 Months | 6.40% | 6.90% | May 23, 2025 |
| 75 Months | 6.40% | 6.90% | May 23, 2025 |
| 78 Months | 6.40% | 6.90% | May 23, 2025 |
| 81 Months | 6.40% | 6.90% | May 23, 2025 |
| 84 Months | 6.40% | 6.90% | May 23, 2025 |
| 87 Months | 6.40% | 6.90% | May 23, 2025 |
| 90 Months | 6.40% | 6.90% | May 23, 2025 |
| 93 Months | 6.40% | 6.90% | May 23, 2025 |
| 96 Months | 6.40% | 6.90% | May 23, 2025 |
| 99 Months | 6.40% | 6.90% | May 23, 2025 |
| 102 Months | 6.40% | 6.90% | May 23, 2025 |
| 105 Months | 6.40% | 6.90% | May 23, 2025 |
| 108 Months | 6.40% | 6.90% | May 23, 2025 |
| 111 Months | 6.40% | 6.90% | May 23, 2025 |
| 114 Months | 6.40% | 6.90% | May 23, 2025 |
| 117 Months | 6.40% | 6.90% | May 23, 2025 |
| 120 Months | 6.40% | 6.90% | May 23, 2025 |
Banks and financial institutions adjust their interest rates in response to changes in fiscal and monetary policy. When the RBI cuts the repo rate, borrowing becomes cheaper as more money flows into the economy. As a result, banks reduce their lending rates because their cost of funds decreases. However, banks also reduce deposit rates as they no longer need to offer high returns to attract deposits.
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