Archive · 16 Jun 2025
Multiple Indian Banks Reduce Fixed Deposit Interest Rates
Several major Indian banks, including SBI, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank, have lowered the interest rates they pay on fixed deposits.
This means that people will earn less interest on the money they deposit for a fixed period.
Each bank has set new rates for different lengths of time, but generally, shorter-term deposits saw bigger cuts.
These changes started around mid-June 2025.
SBI, HDFC Bank, and ICICI Bank have cut fixed deposit (FD) interest rates.
SBI's new FD rates range from 3.50% to 6.50% for general public.
HDFC Bank's FD rates range from 3.00% to 7.00%, with 7.00% for 2-3 year FDs.
ICICI Bank's FD rates range from 3.00% to 7.20%, with 7.20% on 13-month to 2-year tenures.
Kotak Mahindra Bank also revised FD rates, now between 2.75% and 7.25%.
- Who
- SBI, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank depositors
- What
- Banks reduced interest rates on fixed deposits (FDs).
- When
- Effective from June 12 and June 15, 2025.
- Where
- India
- Why
- Not explicitly stated in the articles.
Savers
Banks
Interest Rates
Savers
Higher Interest Rates
Banks
Lower Interest Rates
- Banks
- SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank
- Effective Dates
- June 12 and 15, 2025
- SBI FD Rates
- 3.50% to 6.50%
- HDFC FD Rates
- 3.00% to 7.00%
- ICICI FD Rates
- 3.00% to 7.20%
- Kotak FD Rates
- 2.75% to 7.25%
Sources
Public vs Private Banks: Who Offers the Cheapest Home Loans After RBI’s 50 bps Rate Cut?
SBI cuts savings account, fixed deposit interest rates
Repo rate falls to 5.5%: Three strategies to lower your home loan EMI
How to Reduce Your Home Loan Interest Rate
RBI policy effect: SBI cuts fixed deposits, savings accounts interest rates
