FD rates revised in June: Here's what HDFC, Axis, Kotak & others now offer

Business Standard

a day ago

Banks are revising their fixed deposit (FD) interest rates after the Reserve Bank of India's (RBI) cut the repo rate by 50 basis points to 5.5 per cent last week. The new FD terms impact millions of Indians who use the investment for its predictability and relative safety.
Here's a breakdown of the latest FD rates offered by five lenders: HDFC Bank, Canara Bank, Axis Bank, Indian Bank, and Kotak Mahindra Bank.
Why FD rates are changing
Repo is the rate at which the RBI lends money to commercial banks. A reduction usually nudges banks to lower lending as well as deposit rates. The recent cut has prompted banks to slowly align their deposit products accordingly.
Fixed deposit rates in June
1. HDFC Bank
Applicable from June 10, on deposits of less than Rs 3 crore, HDFC Bank is now offering rates from 2.75 per cent per annum to 6.60 per annum for general customers and 3.25 per cent to 7.10 per cent per annum for senior citizens.
The highest offering by the bank is 6.60 per cent and 7.10 per cent for a tenure of 15 months to 21 months for general customers and senior citizens, respectively.
The shortest tenure bank offer is 7- 14 days with rates of 2.75 and 3.75 per cent for general customers and senior citizens, respectively.
The longest tenure is 5 years 1 day to 10 years with rates of 6.15 and 6.65 per cent for general customers and senior citizens, respectively.
Tenor Bucket < 3 Crore
Interest Rate (per annum) **Senior Citizen Rates (per annum)
7 - 14 days 2.75% 3.25%
15 - 29 days 2.75% 3.25%
30 - 45 days 3.25% 3.75%
46 - 60 days 4.25% 4.75%
61 - 89 days 4.25% 4.75%
90 days < = 6 months 4.25% 4.75%
6 months 1 days < = 9 months 5.50% 6.00%
9 months 1 day to < 1 year 5.75% 6.25%
1 year to < 15 months 6.25% 6.75%
15 months to < 18 months 6.60% 7.10%
18 months to < 21 months 6.60% 7.10%
21 months - 2 years 6.45% 6.95%
2 Years 1 day to < 2 Year 11 Months 6.45% 6.95%
2 Years 11 Months - 35 Months 6.45% 6.95%
2 Years 11 Months 1 day < = 3 Year 6.45% 6.95%
3 Years 1 day to < 4 Years 7 Months 6.40% 6.90%
4 Year 7 Months - 55 months 6.40% 6.90%
4 Year 7 Months 1 day < = 5 Years 6.40% 6.90%
5 Years 1 day - 10 Years 6.15% 6.65%
2. Canara Bank
Applicable from June 9, on deposits of less than Rs 3 crore, Canara Bank is now offering rates from 3.5 per cent per annum to 6.6 per annum for general customers and 4 per cent to 7.1 per cent per annum for senior citizens.
The highest offering by the bank is 6.6 per cent and 7.1 per cent for a tenure of 444 days for general customers and senior citizens, respectively.
The shortest tenure bank offer is 7-45 days with rates of 3.5 and 4 per cent for general customers and senior citizens, respectively.
The longest tenure is 5 years to above 10 years with rates of 6.5 and 7 per cent for general customers and senior citizens, respectively.
Term Deposits (All Maturities) Rate of Interest (% p.a.)
General Senior Citizen
7 Days to 45 Days 3.5 4
46 Days to 90 Days 4.5 5
91 Days to 179 Days 4.75 5.25
180 Days to 269 Days 5.75 6.25
270 Days to less than 1 Year 6 6.5
1 Year & above to 1 year 3 months Only 6.5 7
444 Days 6.6 7.1
Above 1 Year 3 months to less than 2 Years 6.5 7
2 Years & above to less than 3 Years 6.5 7
3 Years & above to less than 5 Years 6.5 7
5 Years & above to 10 Years 6.5 7
3. Axis Bank
Applicable from June 11, on deposits of less than Rs 5 crore, Axis Bank is now offering rates from 3 per cent per annum to 6.6 per annum for general customers and 3.5 per cent to 7.25 per cent per annum for senior citizens.
The highest offering by the bank is 6.6 per cent and 7.25 per cent for a tenure of 15 months to less than 2 years for general customers and 5 years to 10 years' tenure for senior citizens, respectively.
The shortest tenure bank offer is 7-14 days with rates of 3 and 3.5 per cent for general customers and senior citizens, respectively.
The longest tenure is 5 years to 10 years with rates of 6.5 and 7.25 per cent for general customers and senior citizens, respectively.
Maturity Period Less than ₹ 3 Cr Less than ₹ 3 Cr
7 - 14 days 3 3.5
15 - 29 days 3 3.5
30 - 45 days 3.25 3.75
46 - 60 days 4 4.5
61 days - 87 days 4 4.5
88 days - 3 months 24 days 4.5 5
3 months 25 days < 4 months 4.5 5
4 months < 6 months 4.5 5
6 months < 9 months 5.5 6
9 months < 1 year 5.75 6.25
1 year - 1 year 10 days 6.25 6.75
1 year 11 days < 13 months 6.25 6.75
13 months < 15 months 6.25 6.75
15 months < 18 months 6.6 7.1
18 Months < 2 years 6.6 7.1
2 years < 3 years 6.5 7
3 years < 5 years 6.5 7
5 years to 10 years 6.5 7.25
4. Indian Bank
Applicable from June 9, on deposits of less than Rs 3 crore, Indian Bank is now offering rates from 2.8 per cent per annum to 6.9 per annum for general customers and an additional 0.5 per cent for senior citizens.
The highest offering by the bank is 6.9 per cent on a tenure of 444 days for general customers and 7.4 per cent for senior citizens on the same.
The shortest tenure bank offer is 7- 14 days with rates of 2.8 and 3.3 per cent for general customers and senior citizens, respectively.
The longest tenure is above 5 years with rates of 6 per cent and 6.5 per cent for general customers and senior citizens, respectively.
Below is the detailed table of FD rate and tenures provided by the bank on its website
Maturity Period Revised w.e.f 09.06.2025
Rate (% per annum )
7 days to 14 days 2.8
15 days to 29 days 2.8
30 days to 45 days 3
46 days to 90 days 3.25
91 days to 120 days 3.5
121 days to 180 days 3.85
181 days to less than 9 months 4.5
9 months to less than 1 year 4.75
1 year 6.1
Above 1 year to less than 2 years (Except 444 & 555 Days) 6.6
444 Days 6.9
555 Days 6.8
2 years to less than 3 years 6.4
3 years to less than 5 years 6.25
5 year 6
Above 5 years 6
5. Kotak Mahindra
Applicable from June 9, on deposits of less than Rs 3 crore, Kotak Mahindra Bank is now offering rates from 2.75 per cent per annum to 6.6 per annum for general customers and 3.25 to 7.10 per cent for senior citizens.
The highest offering by the bank is 6.6 per cent and 7.10 per cent for a tenure of 391 days to 29 months for general customers and senior citizens, respectively.
The shortest tenure bank offer is 7-14 days with rates of 2.75 and 3.25 per cent for general customers and senior citizens, respectively.
The longest tenure is between 5 years to 10 years rates of 6.25 and 6.75 per cent for general customers and senior citizens, respectively.