HDFC Bank trims FD, savings & RD rates again in June: Here's what changing

Private-sector lender announces such a decision for the second time in June after central bank's repo rate cut earlier

HDFC Bank has cut interest rates for fixed deposits (FD) under Rs 3 crore by 25 basis points (bps), marking the second time it has done so in June.

 

The revised FD rates came into effect on Wednesday and follow an earlier cut on June 10, after the Reserve Bank of India slashed the repo rate by 50 bps or 0.5 per cent.

 

What’s changed?

 

The latest reduction applies specifically to FDs with tenures of 15 months to less than 18 months: For general depositors, the rate was cut from 6.60 per cent to 6.35 per cent.

 

For senior citizens, the return has been revised from 7.10 per cent to 6.85 per cent.

 

These cuts reflect a broader trend in the banking sector, where falling repo rates are influencing retail deposit products.

 

Snapshot of fixed deposit rates

 

HDFC Bank now offers the following interest rate range:

 

-General customers: 2.75 per cent to 6.60 per cent

 

-Senior citizens: 3.25 per cent to 7.10 per cent

 

(For FDs under Rs 3 crore and tenures from seven days to 10 years)

 

Some key tenure-wise FD rates are:

 

-7–14 days: 2.75 per cent (3.25 per cent for seniors)

 

-6 months – 9 months: 5.50 per cent (6.00 per cent)

 

-1 year – 15 months: 6.25 per cent (6.75 per cent)

 

-18 months – 21 months: 6.60 per cent (7.10 per cent)

 

-5 years – 10 years: 6.15 per cent (6.65 per cent)

 

HDFC Bank FD rates   

Tenor Bucket	< 3 Crore
	Interest Rate (per annum)	**Senior Citizen Rates (per annum)
7 - 14 days	2.75%	3.25%
15 - 29 days	2.75%	3.25%
30 - 45 days	3.25%	3.75%
46 - 60 days	4.25%	4.75%
61 - 89 days	4.25%	4.75%
90 days < = 6 months	4.25%	4.75%
6 months 1 days < = 9 months	5.50%	6.00%
9 months 1 day to < 1 year	5.75%	6.25%
1 year to < 15 months	6.25%	6.75%
15 months to < 18 months	6.35%	6.85%
18 months to < 21 months	6.60%	7.10%
21 months - 2 years	6.45%	6.95%
2 Years 1 day to < 2 Year 11 Months	6.45%	6.95%
2 Years 11 Months - 35 Months	6.45%	6.95%
2 Years 11 Months 1 day < = 3 Year	6.45%	6.95%
3 Years 1 day to < 4 Years 7 Months	6.40%	6.90%
4 Year 7 Months - 55 months	6.40%	6.90%
4 Year 7 Months 1 day < = 5 Years	6.40%	6.90%
5 Years 1 day - 10 Years	6.15%	6.65%

 

Penalty for early withdrawals

 

HDFC Bank clarified that all premature withdrawals will attract a 1 per cent lower interest rate than applicable on the actual tenure completed. "The rate applied will be 1 per cent less than the applicable rate on the date of booking, not the contracted rate," according to the bank’s website.

 

Savings accounts, RD rates Slashed

 

Apart from FDs, savings account interest rates have also been reduced by 25 bps, from 2.75 per cent to 2.50 per cent, effective June 24, 2025. This applies to all account balances and is calculated daily but paid quarterly.

 

Meanwhile, recurring deposit (RD) rates remain in the range of 4.25 per cent to 6.60 per cent for regular customers and 4.75 per cent to 7.10 per cent for senior citizens. These were last updated on June 10 and June 25 for select tenures.

 

HDFC Bank RD rate  Effective from June 10, 2025 

Period	Interest Rate	Senior Citizen Rates
6 Months	4.25%	4.75%
9 Months	5.50%	6.00%
12 Months	6.25%	6.75%
15 Months	6.35%	6.85%
18 Months	6.60%	7.10%
21 Months	6.45%	6.95%
24 Months	6.45%	6.95%
27 Months	6.45%	6.95%
30 Months	6.45%	6.95%
33 Months	6.45%	6.95%
36 Months	6.45%	6.95%
39 Months	6.40%	6.90%
42 Months	6.40%	6.90%
45 Months	6.40%	6.90%
48 Months	6.40%	6.90%
51 Months	6.40%	6.90%
54 Months	6.40%	6.90%
57 Months	6.40%	6.90%
60 Months	6.40%	6.90%
63 Months	6.15%	6.65%
66 Months	6.15%	6.65%
69 Months	6.15%	6.65%
72 Months	6.15%	6.65%
75 Months	6.15%	6.65%
78 Months	6.15%	6.65%
81 Months	6.15%	6.65%
84 Months	6.15%	6.65%
87 Months	6.15%	6.65%
90 Months	6.15%	6.65%
93 Months	6.15%	6.65%
96 Months	6.15%	6.65%
99 Months	6.15%	6.65%
102 Months	6.15%	6.65%
105 Months	6.15%	6.65%
108 Months	6.15%	6.65%
111 Months	6.15%	6.65%
114 Months	6.15%	6.65%
117 Months	6.15%	6.65%
120 Months	6.15%	6.65%

 

What should investors do?

The second FD rate cut in less than a month may nudge savers to re-evaluate their investment mix. Shorter tenures continue to offer lower yields, and premature withdrawal penalties make it important to lock in funds only if you're sure of the timeline.

 

For those seeking guaranteed returns, FDs still provide stability, but diversifying into other fixed-income or market-linked options might help protect returns amid a falling interest rate cycle.