HDFC Bank slashes FD and savings rates again in June. Details here
HDFC Bank has again cut its fixed deposit (FD) interest rates this month. This is the second rate cut in June 2025 for India's largest private bank. From June 25, 2025, the bank has lowered the interest rate on single FD tenures by 25 basis points (bps) for deposits below Rs 3 crore.This follows a similar cut made earlier on June 10, 2025, after the Reserve Bank of India (RBI) reduced the repo rate by 50 bps, from 6% to 5.5%.WHICH FD TENURE IS AFFECTED?HDFC Bank has reduced the interest rate on FDs with a tenure of 15 months to less than 18 months. Earlier, this rate was 6.60% for general customers and 7.10% for senior citizens. Now, it is 6.35% for general customers and 6.85% for seniors.advertisementThe bank offers FD rates from 2.75% to 6.60% for the general public (for 18 months to less than 21 months) and 3.25% to 7.10% for senior citizens for amounts under Rs 3 crore.PENALTY FOR PREMATURE WITHDRAWALIf you need to break your FD early, remember that the bank charges a penalty. According to HDFC Bank's rules, if you withdraw your FD before maturity, you will get 1% less than the rate applicable for the period your money stayed with the bank, and not the original contracted rate.SAVINGS ACCOUNT RATES ALSO REDUCEDAlong with the FD rate cut, HDFC Bank has also lowered the interest rate on all savings accounts. From June 24, 2025, the savings rate is down by 25 bps, i.e., from 2.75% to 2.50% per annum for all balances.The savings account interest is calculated daily and paid every three months.WHAT ABOUT RECURRING DEPOSITS?The bank's recurring deposit (RD) interest rates remain between 4.25% and 6.60% for general customers and 4.75% to 7.10% for senior citizens, depending on the deposit period. These rates have been in effect since June 10, 2025.WHAT IT MEANS FOR CUSTOMERSWith two rate cuts in a single month, HDFC Bank customers will now see slightly lower returns on fresh FDs and savings accounts.
It's a good time for savers to compare rates, plan their deposits wisely, and keep an eye on future RBI policy changes.- EndsMust Watch
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
28 minutes ago
- Economic Times
India's forex reserves down $1.02 billion to $697.93 billion as of June 20
India's foreign exchange reserves experienced a decrease of $1.02 billion, reaching $697.93 billion for the week ending June 20, according to RBI data. This decline follows a previous increase of over $2 billion, with reserves standing at $698.95 billion as of June 13. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's forex reserves declined by $1.02 billion to $697.93 billion for the week ending June 20, data by the Reserve Bank of India showed on foreign exchange reserves stood at $698.95 billion as of June 13, up over $2 billion from the previous forex reserves had touched an all-time high of $704.885 billion in end-September the week ending on June 20, foreign currency assets, a major component of the reserves, declined $0.36 billion to $589.07 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves were down by $5.73 million to stand at $85.74 billion during the week, the RBI said. The special drawing rights were down $85 million to $18.67 billion, the central bank the RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.
Business Standard
37 minutes ago
- Business Standard
Lemon Tree Hotels inks new property in Nashik under Lemon Tree Suites brand
Lemon Tree Hotels has announced the signing of a new property, Lemon Tree Suites, Nashik, expanding its presence in Maharashtra. The hotel will be managed by Carnation Hotels, the companys wholly-owned subsidiary. The upcoming property will feature 135 well-appointed suites and a range of amenities including a restaurant, lounge, banquet hall, meeting room, swimming pool, fitness center, spa, and other public areas. Strategically located, the hotel is approximately 27 km from Nashik International Airport and 12 km from Nashik Railway Station, with convenient access via public and private road transport. Vilas Pawar, CEO of Managed & Franchise Business, Lemon Tree Hotels commented, "We are delighted to expand our footprint in Maharashtra. The launch of this new property not only reinforces our presence in Maharashtra, where we already operate 14 hotels and have six more in the pipeline, but also aligns with our broader strategy for sustained growth across key markets." Lemon Tree Hotels (LTHL) is one of the largest hotel chains in India and owns/leases/operates/franchises hotels across the upscale, upper-midscale, midscale, and economy segments. The group offers seven brands to meet guests needs across all levels, viz. Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels. The company reported a 26.37% jump in consolidated net profit to Rs 84.64 crore, while revenue from operations rose 15.64% to Rs 378.51 crore in Q4 March 2025 over Q4 March 2024. The counter rose 0.18% to Rs 138.40 on the BSE.
Business Standard
37 minutes ago
- Business Standard
Valiant Comm hits the roof after bagging Rs 37 cr order from Tejas Networks
Valiant Communications hit an upper circuit of 5% at Rs 750.25 after the company announced that it has received the final confirmed purchase order from Tejas Networks. The order involves the supply and commissioning of communication, protection and synchronization equipment for a project undertaken by Gujarat Energy Transmission Corporation (GETCO), the end-user. The total value of the order stands at Rs 37.46 crore and execution is scheduled to be completed by 30 June 2026, according to the companys regulatory filing. Valiant Communications also clarified that the transaction does not involve any related parties, and that neither the promoters, the promoter group, nor any group companies have any financial interest in the awarding entity. Valiant Communications is a manufacturer and exporter of a wide range of communications, transmission, protection, synchronization, NAS data storage equipment and cyber security products. It is an approved manufacturer to some of the major power utilities including Power Grid Corporation (India) and various National and State Electricity Boards, with track record of successful installations in more than 5,500+ power sub-stations worldwide including at 765kV, 440kV, 400kV, 384kV, 220kV, 132kV, 110kV, 66kV and 33kV power sub-stations. The companys consolidated net profit surged 69.5% to Rs 4.22 crore in Q4 FY25 as against Rs 2.49 crore posted in Q4 FY24. Revenue from operations jumped 21.1% YoY to Rs 16.12 crore in the quarter ended 31 March 2025.
