HDFC Bank has announced a cut in fixed deposit (FD) interest rates for deposits below Rs 3 crore, bringing some relief-seeking investors a reason to recheck their returns. The revised rates came into effect from Wednesday, December 16, shortly after a similar move by State Bank of India (SBI). This change follows the Reserve Bank of India’s recent decision to lower the repo rate by 25 basis points to 5.25 per cent, a move that has prompted banks to realign their deposit and lending rates.

FD rates cut for select HDFC Bank deposit periods

HDFC Bank has lowered fixed deposit interest rates for select tenures, specifically deposits ranging from 18 months to less than 21 months. The bank has cut rates by 15 basis points for both general and senior citizens. Following the revision, FD returns for general customers have come down from 6.6 per cent to 6.45 per cent, while senior citizens will now earn 6.6 per cent, down from the earlier 7.1 per cent.

Here’s a look at the latest fixed deposit interest rates offered by HDFC Bank for deposits below Rs 3 crore, effective after the recent revision:

Latest HDFC Bank FD Interest Rates Per Annum

– 7 days to 14 days: 2.75 per cent

– 15 days to 29 days: 2.75 per cent

– 30 days to 45 days: 3.25 per cent

– 46 days to 60 days: 4.25 per cent

– 61 days to 89 days: 4.25 per cent

– 90 days to 6 months: 4.25 per cent

– 6 months 1 day to 9 months: 5.50 per cent

– 9 months 1 day to less than 1 year: 5.75 per cent

– 1 year to less than 15 months: 6.25 per cent

– 15 months to less than 18 months: 6.35 per cent

– 18 months to less than 21 months: 6.45 per cent

– 21 months to 2 years: 6.45 per cent

– 2 years 1 day to less than 2 years 11 months: 6.45 per cent

– 2 years 11 months (35 months): 6.45 per cent

– 2 years 11 months 1 day to 3 years: 6.45 per cent

– 3 years 1 day to less than 4 years 7 months: 6.40 per cent

– 4 years 7 months (55 months): 6.40 per cent

– 4 years 7 months 1 day to 5 years: 6.40 per cent

– 5 years 1 day to 10 years: 6.15 per cent

Latest HDFC Bank Senior Citizen FD Interest Rates (per annum)

– 7 days to 14 days: 3.25 per cent

– 15 days to 29 days: 3.25 per cent

– 30 days to 45 days: 3.75 per cent

– 46 days to 60 days: 4.75 per cent

– 61 days to 89 days: 4.75 per cent

– 90 days to 6 months: 4.75 per cent

– 6 months 1 day to 9 months: 6.00 per cent

– 9 months 1 day to less than 1 year: 6.25 per cent

– 1 year to less than 15 months: 6.75 per cent

– 15 months to less than 18 months: 6.85 per cent

– 18 months to less than 21 months: 6.95 per cent

– 21 months to 2 years: 6.95 per cent

– 2 years 1 day to less than 2 years 11 months: 6.95 per cent

– 2 years 11 months (35 months): 6.95  per cent

– 2 years 11 months 1 day to 3 years: 6.95 per cent

– 3 years 1 day to less than 4 years 7 months: 6.90 per cent

– 4 years 7 months (55 months): 6.90 per cent

– 4 years 7 months 1 day to 5 years: 6.90 per cent

– 5 years 1 day to 10 years: 6.65 per cent

What depositors and NRIs should know about HDFC Bank FDs

HDFC Bank continues to offer separate fixed deposit options for resident and NRI customers. For NRI deposits, the minimum tenure for NRE fixed deposits remains one year, and senior citizen benefits are not available on these accounts.

Customers can open or renew fixed deposits easily through mobile banking, net banking, or by reaching out to the bank’s relationship manager in the case of NRI accounts.

The latest rate cut by HDFC Bank is part of a broader trend, as banks across the sector adjust FD rates in response to RBI policy changes, while trying to strike a balance between deposit mobilisation and lending costs.