With the Reserve Bank of India‘s (RBI) Monetary Policy Committee’s meeting next week, several banks have already cut their fixed deposit (FD) interest rates. Among them, HDFC Bank, Yes Bank, and Punjab & Sind Bank have revised their FD rates, affecting both general investors and senior citizens.HDFC Bank has discontinued its Special Edition FD scheme and introduced revised rates effective April 1, 2025. Yes Bank has lowered its FD rates by 25 basis points on select tenures, while Punjab & Sind Bank has reduced rates across multiple tenures and discontinued select schemes.
Latest HDFC Bank FD interest rates
HDFC Bank offers an interest rate between 3% and 7.25% on fixed deposits for regular citizens 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 tenure of 10 months to less than 21 months. The new rates are applicable from April 1, 2025.
For senior citizens, the interest rates vary between 3.5% and 7.75% for tenures ranging from 7 days to 10 years for amounts less than Rs 3 crore. The highest interest rate of 7.75% is offered on tenures of 10 months to less than 21 months.
Also read: HDFC Bank ends special edition deposit: Now offers highest FD interest of 7.75% from 7.90%
Latest Yes Bank FD interest rate
Yes Bank has reduced its fixed deposit (FD) interest rates by 25 basis points (0.25%) on select tenures. This latest reduction raises concerns about a possible trend of declining FD interest rates across the banking sector.
Yes Bank offers fixed deposit interest rates between 3.25% and 7.75% for FD amounts below Rs 3 crore for general citizens for tenures ranging from 7 days to 10 years, compared to 3.25% and 8% earlier. The bank offers the highest interest rate of 7.75% for a tenure of 12 months to less than 24 months
For senior citizens, the bank offers interest rates between 3.75% and 8.25% per annum for amounts below Rs 3 crore, compared to 3.75% and 8.50% earlier. The highest interest rate of 8.25% per annum is offered on tenure of 12 months to less than 24 months for senior citizens.
Also read: Yes Bank cuts the FD interest rate: Is this the beginning of the downtrend of FD interest rate?
Latest Punjab & Sind Bank FD interest rates
Punjab & Sind Bank has reduced the special fixed deposit interest rate and has ended some of the tenures. The deadline has been extended to June 30, 2025. The new rates are effective April 1, 2025.
The bank has discontinued 333 days and 555 days tenures, offering FD interest rates of 77.2% and 7.45%, respectively.
For the 444 days tenure, the bank has reduced the interest rate by 20 basis points-from 7.30% to 7.10%. For 777 days, the lender reduced its rate by 0.75% – from 7.25% to 6.50%. On a 999-day term, it reduced the interest rate by 30 basis points-from 6.65% to 6.35%.
These 2 banks extend special FD schemes but are interest rates same or lower?
