HDFC Bank has cut its interest rates on fixed deposits (FDs) by up to 20 basis points (bps) on select tenures, effective May 23, 2025. The new rates will be applicable for deposits below Rs 3 crore.
After this recent reduction, the bank’s FD rates range from 3% to 7.35%. While returns for general investors have dropped, senior citizens can still earn up to 7.35% interest, though on specific investment periods.
This is the second time the bank has cut interest rates — earlier in April 2025, also, a cut of 50 bps was made.
Here’s everything you need to know about the new FD rates and how to maximise your returns after the rate cut.
How much interest will you get now on HDFC Bank FDs?
As per the new rates, the private sector lender is offering general customers rates in a range of 3% to 6.85%. At the same time, senior citizens are now being offered 3.5% to 7.35% on their fixed deposits.
Before this rate cut, these rates were 3% to 7.10% (for ordinary citizens) and 3.5% to 7.55% (for senior citizens), respectively.
| Tenor Bucket | < 3 Crore | |
| 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 < = 6 months | 4.50% | 5.00% |
| 6 months 1 days < = 9 months | 5.75% | 6.25% |
| 9 months 1 day to < 1 year | 6.00% | 6.50% |
| 1 year to < 15 months | 6.50% | 7.00% |
| 15 months to < 18 months | 6.85% | 7.35% |
| 18 months to < 21 months | 6.85% | 7.35% |
| 21 months – 2 years | 6.70% | 7.20% |
| 2 Years 1 day to < 2 Year 11 Months | 6.70% | 7.20% |
| 2 Years 11 Months – 35 Months | 6.70% | 7.20% |
| 2 Years 11 Months 1 day < = 3 Year | 6.70% | 7.20% |
| 3 Years 1 day to < 4 Years 7 Months | 6.65% | 7.15% |
| 4 Year 7 Months – 55 months | 6.65% | 7.15% |
| 4 Year 7 Months 1 day < = 5 Years | 6.65% | 7.15% |
| 5 Years 1 day – 10 Years | 6.40% | 6.90% |
(Source: HDFC Bank website)
Also read: Canara Bank revises rates on fixed deposits, savings account – Check new rates
For which periods has the interest rate been reduced?
HDFC Bank has reduced the FD interest rate for the following periods:
The interest rate on FDs of less than 1 year and less than 15 months has been cut from 6.60% to 6.50% (for ordinary citizens). The interest rate on FDs of less than 18 months to 21 months has been reduced from 7.05% to 6.85%. The interest on FDs of 2 years 1 day to 3 years is reduced from 6.90% to 6.70%.
What has changed for senior citizens?
The interest rate on FDs for senior citizens will be between 3.5% to 7.35%. The highest interest rate — 7.35% — is available for tenures ranging from 18 months to less than 21 months.
Summing up…
If you are a senior citizen or looking for a safe investment for them, FDs are still a reliable option. Yes, interest rates have come down a bit, but you can still earn good money if you choose the right tenure. Especially on FDs of 18 to 21 months, where the rate of 7.35% is being offered.