Financial Year (FY) 2025-26 has not started on a positive note for fixed deposit enthusiasts. Ahead of the RBI’s monetary policy committee (MPC) meeting next week, as many as three private sector banks have revised their fixed deposit interest rates. These banks include HDFC Bank, Yes Bank, and Bandhan Bank.
The FD rate revision by these banks is on the expected lines following the repo rate cut by the Reserve Bank of India two months back.
In the last MPC meeting in February 2025, the RBI had reduced the repo rate by 0.25%. It is now anticipated that the central bank will further reduce the repo rate in its upcoming MPC between April 7-9, 2025.
What are the revised Fixed Deposit rates?
HDFC Bank Fixed Deposit
HDFC Bank has reduced interest rates for fixed deposits of certain tenures with effect from April 1, 2025. It has reduced the interest rate by 35 basis points on deposits of 2 years and 11 months (35 months). The bank has also cut interest rate on deposits of 4 years and 7 months (55 months) by 40 basis points.
HDFC Bank is now offers 7% interest on FDs of both 35 months and 55 months respectively. Senior citizens will get 0.5% extra interest on these deposits.
The revised rates are applicable for deposits below ₹3 crore.
Yes Bank Fixed Deposit
Yes Bank has reduced its FD rates by 0.25% on select tenures. It is now offering 7.75% interest on FDs of 12 months to 24 months. Earlier, the bank was offering 8% interest on deposits of these tenures.
Bandhan Bank Fixed Deposit
Bandhan Bank has revised interest rates for bulk deposits with effect from April 3, 2025. The bank is now offering 8% interest on callable bulk deposits above ₹3 crore for 12 months, and 12 months and 1 day to less than 13 months. On non-callable bulk deposits above ₹3 crore, Bandhan Bank is offering up to 8.3% interest rates.
