Archive · 11 Jun 2025
HDFC, ICICI Bank Cut FD, Savings Account Interest Rates
Following the RBI's decision to cut interest rates, HDFC and ICICI banks have lowered their own interest rates.
This means that the money you put into fixed deposits (FDs) and savings accounts will earn less interest.
ICICI Bank's changes started on June 9, with rates ranging from 3% to 6.6% for regular customers and up to 7.10% for senior citizens.
HDFC Bank's changes, which started on June 10, offer lower rates too; and their savings accounts now have a flat interest rate of 2.75%.
HDFC and ICICI Bank lowered interest rates on retail deposits.
ICICI Bank's FD rates reduced up to 25 basis points, effective June 9.
ICICI Bank FD interest rates range from 3% to 6.6% for general citizens and 3.5% to 7.10% for senior citizens.
HDFC Bank revised rates on FDs and savings accounts, effective June 10.
HDFC Bank savings accounts now offer 2.75% interest, down from 3.25%.
- Who
- HDFC and ICICI Bank customers
- What
- Reduced interest rates on fixed deposits and savings accounts
- When
- Effective June 9 and 10
- Where
- India (HDFC and ICICI Banks)
- Why
- Following RBI repo rate drop
- Banks Lowering Rates
- HDFC Bank and ICICI Bank
- ICICI Bank Effective Date
- June 9
- HDFC Bank Effective Date
- June 10
- ICICI Bank FD General Rate
- 3% to 6.6%
- ICICI Bank FD Senior Citizen Rate
- 3.5% to 7.10%
- HDFC Bank Savings Account Rate
- 2.75%
- RBI Action
- Repo rate cut
Sources
RBI rate cuts dull FDs, here's why REITs, InvITs are emerging as high yield heroes
HDFC Bank cuts interest rates on FDs, savings accounts from June 10 after RBI repo cut
HDFC Bank, ICICI Bank cut FD rates by 25 bps in select tenures
Lock In Small Savings Schemes as Rates Likely to Change from July 1
RBI Repo Rate Cut: Latest FD Rates Of ICICI, Kotak Mahindra, And HDFC Compared
Indian Bank cuts FD interest rates by upto 50 basis points. Check details here
