HDFC Bank has discontinued its special edition Fixed Deposit (FD) offering, which provided investors with an opportunity to maximize their savings with stable and guaranteed returns. The last date to invest in the Special Edition FD was March 31, 2025. With the discontinuation of the scheme, HDFC Bank has revised its FD interest rates, effective April 1, 2025.
The revised interest rates for regular citizens range from 3% to 7.25% for tenures ranging from 7 days to 10 years for amounts less than Rs 3 crore. The highest interest rate of 7.25% is offered on a tenure of 10 months to less than 21 months. For senior citizens, the interest rate varies between 3.5% to 7.75% for the same tenures and amounts.
Notably, Yes Bank has reduced its fixed deposit interest rates by 25 basis points (0.25%) on select tenures, which may indicate a trend of declining FD interest rates across the banking sector. Thus, it is crucial for investors to stay informed about changes in FD interest rates and make informed decisions accordingly.
Investors should also be aware that longer FD tenures can offer higher interest rates, such as a 35-month tenure offering an annual interest rate of 7.35% for regular investors and 7.85% for senior citizens. A 55-month tenure (4 years, 7 months) offers a higher interest rate compared to a 35-month tenure, with regular depositors earning 7.40% per annum and senior citizens earning 7.90% per annum.