FD Rates: If you are thinking of investing in fixed deposits (FD), then this news will be useful for you. Three big private banks of the country Axis Bank, ICICI Bank and HDFC Bank have cut FD’s interest rates. The three banks have reduced the interest rate from 10 to 20 basis points (BPS) on FDs of less than Rs 3 crore. The new rates of ICICI Bank will be applicable from 27 May 2025, while the rates of HDFC Bank are applicable from 23 May 2025. At the same time, Axis Bank has also reduced interest on some of its FDs.
ICICI Bank’s new FD Rates
ICICI Bank has reduced interest rates on its considerable FD.
Less than 1 year less than 15 months: Now decreased from 6.70% to 6.50%
Less than 15 months to 18 months: 6.80% decreased to 6.60%
18 months to 2 years: reduced from 7.05% to 6.85%
2 years 1 day to 5 years: 6.90% to 6.75%
5 years 1 day to 10 years: 6.80% to 6.70%
5 year tax saver FD: Now 6.75% will be available
General citizens now get an interest rate ranging from 3.00% to 7.05%, while senior citizens get interest from 3.50% to 7.55%. The highest interest (7.35%) is being given on an 18 -month to 2 years period.
HDFC Bank’s new FD rates
HDFC Bank has also changed FD rates. The bank had already cut 50 BPS in April, now again some period FD rates have been reduced.
Less than 1 year for 15 months: Now 6.60% decreased to 6.50%
Less than 18 months to 21 months: reduced from 7.05% to 6.85%
The new interest rates for ordinary citizens now range from 3.00% to 6.85%. Senior citizen is getting interest from 3.50% to maximum 7.35%, which is available on FDs with 15 to 21 months period.
Interest rates on Axis Bank FD – Bank reduced interest on these FD
3 months to 3 months 24 days: 4.75 percent for the general public; 5.25 percent for senior citizens
3 months less than 25 days to 4 months: 4.75 percent for the general public; 5.25 percent for senior citizens
4.75 percent for the general public; 5.25 percent for senior citizens
6 months to 9 months less: 5.75 percent for the general public; 6.25 percent for senior citizens
9 months to 1 year: 6.00 percent for the general public; 6.50 percent for senior citizens
1 year to 1 year less than 10 days: 6.50 percent for the general public; 7.20 percent for senior citizens
1 year 11 days to 13 months: 6.50 percent for the general public; 7.00 percent for senior citizens
13 months to 15 months less: 6.50 percent for the general public; 7.00 percent for senior citizens
Less than 15 months to 18 months: 6.85 percent for the general public; 7.00 percent for senior citizens
6.75 percent for the general public; 7.35 percent for senior citizens
Less than 2 years to 3 years: 6.75 percent for the general public; 7.25 percent for senior citizens
Less than 3 years to 5 years: 6.75 percent for the general public; 7.25 percent for senior citizens
5 years to 10 years: 6.70 percent for general public; 7.45 percent for senior citizens.
The three banks give a slightly higher interest rate to senior citizens and facilitate earlier money on almost all FD schemes. If you are planning to invest in FD, then it will be prudent to choose the right period and the bank keeping in mind the new rates.
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