HDFC Bank Interest Rates : There is major and shocking news for HDFC Bank account holders. The bank has now reduced the interest rates on savings account and fixed deposits (FD). This change has been made after the Reserve Bank of India (RBI) cut the repo rate by 0.25%.
Less interest on savings account
HDFC Bank will now pay 2.75% interest on savings account balances less than Rs 50 lakh, which was 3% earlier. Those with a balance of Rs 50 lakh or more will now get 3.25%, which was 3.5% earlier. These new rates have come into effect from April 12, 2025.
If your account is in a metro or city, you will have to maintain a minimum balance of Rs 10,000 every month. In semi-urban areas, a balance of Rs 5,000 and in rural areas, a balance of Rs 2,500 per quarter is required. In rural areas, you can also fulfill the minimum balance condition by making an FD of Rs 10,000 for one year and one day.
Interest rate on FD also decreased
HDFC Bank has also reduced the interest rate on FD from April 1, 2025. Now general customers will get interest ranging from 3% to 7.25%. The highest interest will be given on FD of 18 months. Senior citizens will get slightly higher profit – from 3.50% to 7.75%.
Why are interest rates falling?
When RBI reduced the repo rate, it became necessary for banks to reduce the interest on savings and FDs. This makes loans cheaper and money remains in the market. If you want higher returns, do not depend only on FDs. You can also invest in short term debt funds, special deposit schemes or other options.