Hdfc bank Has shocked its investors. HDFC Bank has cut interest rates on its fixed deposit (FD) accounts up to 50 basis points (BPS). Low FD rates are applicable to FDs below Rs 3 crore. The new rates have come into force today i.e. from April 19, 2025. Earlier, HDFC Bank also cut the interest rate of savings account by 25 basis points. This deduction in savings account and fixed deposit interest rate has been made by the Reserve Bank of India (RBI) after a cut of 25 basis points every time.
Now how much interest will be available
After the FD rate cut, bank will get interest on FD between 3% to 7.10% for general citizens and 3.5% to 7.55% for senior citizens. According to the information given by the bank,
For the FD period of 15 months to the FD period of less than 18 months, the rate has been cut by five basis points, which has come down from 7.10% to 7.05%. For FD deposits of 18 months to 21 months, the bank has reduced the rate by 20 basis points, ie decreased from 7.25% to 7.05%. For FD deposits of 21 months to 2 years period, the current rate is now 6.70%, which is less than 7.00%, ie there is a lack of 30 basis marks for ordinary citizens.
For a period of 2 years 1 day but for less than 3 years, the FD rate has been cut by 10 basis points, which has come down from 7.00% to 6.90%. For deposits kept for a period of 3 years 1 day to 5 years, the interest rate has come down from 7.00% to 6.75%, which shows a cut of 25 basis points. Finally, for a period of 5 years from 1 day to 10 years, now the rate has now come down from 7.00% to 6.50%, which is a 50 basis point deduction.
No change on one year FD
There has been no change in one year of FD interest rate. Common people can book FD at the rate of 6.60% per year for one year, and senior citizens can book FD at a rate of 7.10% per year for one year FD. However, senior citizens will get the highest FD interest rate of 7.55% per year on booking FD from 15 months to 18 months. It is important to note that the bank has closed the special FD scheme since April 1, 2025, in which high interest rates were given.
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