Core Insights - HDFC Bank has reduced fixed deposit (FD) interest rates following a 25 basis points cut in the repo rate by the Reserve Bank of India (RBI) to 5.25% [1][6] - The bank's FD interest rates for tenures of 18 months to less than 21 months have been decreased by 15 basis points for both general and senior citizens [2][6] HDFC Bank FD Interest Rates - For general citizens, the FD interest rate has been reduced from 6.6% to 6.45%, while for senior citizens, it has decreased from 7.1% to 6.6% [2][6] - The updated interest rates for various tenures are as follows: - 7 - 14 days: 2.75% - 15-29 days: 2.75% - 30-45 days: 3.25% - 46-60 days: 4.25% - 61-89 days: 4.25% - 90 days to 6 months: 4.25% - 6 months 1 day to 9 months: 5.50% - 9 months 1 day to less than 1 year: 5.75% - 1 year to less than 15 months: 6.25% - 15 months to less than 18 months: 6.35% - 18 months to less than 21 months: 6.45% - 21 months to 2 years: 6.45% - 2 years 1 day to less than 2 years 11 months: 6.45% - 2 years 11 months (35 months): 6.45% - 2 years 11 months 1 day to less than 3 years: 6.45% - 3 years 1 day to less than 4 years 7 months: 6.40% - 4 years 7 months (55 months): 6.40% - 4 years 7 months 1 day to less than 5 years: 6.40% - 5 years 1 day to 10 years: 6.15% [2][6] Senior Citizen FD Interest Rates - The updated FD interest rates for senior citizens are as follows: - 7 - 14 days: 3.25% - 15-29 days: 3.25% - 30-45 days: 3.75% - 46-60 days: 4.75% - 61-89 days: 4.75% - 90 days to 6 months: 4.75% - 6 months 1 day to 9 months: 6.00% - 9 months 1 day to less than 1 year: 6.25% - 1 year to less than 15 months: 6.75% - 15 months to less than 18 months: 6.85% - 18 months to less than 21 months: 6.95% - 21 months to 2 years: 6.95% - 2 years 1 day to less than 2 years 11 months: 6.95% - 2 years 11 months (35 months): 6.95% - 2 years 11 months 1 day to less than 3 years: 6.95% - 3 years 1 day to less than 4 years 7 months: 6.90% - 4 years 7 months (55 months): 6.90% - 4 years 7 months 1 day to less than 5 years: 6.90% - 5 years 1 day to 10 years: 6.65% [4][6] Tax Deducted at Source (TDS) on FD Interest - TDS will be deducted when interest payable or reinvested on FD exceeds ₹50,000 for general citizens and ₹1,00,000 for senior citizens in a financial year [5][6] - Individuals seeking exemption from TDS must submit Form 15 G/H at the nearest branch or online within the first week of the new financial year [5][6]

Core Viewpoint - The Reserve Bank of India (RBI) has reduced the policy repo rate by 25 basis points, prompting State Bank of India (SBI) to adjust its deposit and lending rates accordingly [1][2]. Group 1: Deposit Rate Adjustments - SBI has decided to selectively reduce deposit rates, specifically lowering the term deposit rate for the 2-year to less than 3-year maturity bucket by 5 basis points from 6.45% to 6.40% [1]. - The interest rate for the specific tenor scheme of "444 days" (Amrit Vrishti) has been cut by 15 basis points from 6.60% to 6.45% [2]. Group 2: Lending Rate Adjustments - SBI has reduced the marginal cost of funds-based lending rate (MCLR) by 5 basis points across the board, with the one-year MCLR now at 8.70% compared to the previous 8.75% [2]. - The External Benchmark Linked Rate (EBLR) has been cut from 8.15% to 7.90%, affecting all retail and MSME loans priced against this benchmark [3].

Core Insights - The article discusses the interest rates offered by various banks on fixed deposits, highlighting the differences between private and government sector banks [1] Private Banks - HDFC Bank offers 7.10% interest to senior citizens for fixed deposits with a tenor of 18 to 21 months, while general citizens receive 6.6% [2] - ICICI Bank provides 7.10% on fixed deposits with a tenor between 2 to 10 years for senior citizens and 6.6% for general citizens [2] - Kotak Mahindra Bank also offers a maximum interest of 7.1% to senior citizens for a 23-month tenor, with general citizens receiving 6.6% [2] - Federal Bank offers 7.2% interest for senior citizens on a tenor of 999 days and 6.7% for general citizens [3] - A summary table lists various banks and their respective interest rates, showing HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Federal Bank offering rates between 7.1% and 7.2% for senior citizens [4] Government Sector Banks - State Bank of India (SBI) offers 6.95% interest for senior citizens on a tenor of 2 to 3 years, while general citizens receive 6.45% [5] - Union Bank of India provides 6.6% interest on fixed deposits with a tenor of 3 years, with general citizens earning 50 basis points less than senior citizens [5] - Punjab National Bank (PNB) offers 7.10% interest on a 390-day tenor [6] - Canara Bank provides 7% interest for senior citizens on a 444-day tenor and 6.5% for general citizens [6]

Core Insights - The article emphasizes the importance of comparing interest rates from different banks before opening a term deposit, particularly highlighting that long-term deposits generally offer higher interest rates than short-term ones [1][2]. Interest Rates Offered by Banks - HDFC Bank offers 6.45% interest on a three-year fixed deposit, 6.25% on a one-year deposit, and 6.45% on a two-year deposit, effective from June 25, 2025. Senior citizens receive an additional 50 basis points [3]. - ICICI Bank provides 6.6% interest on three-year fixed deposits for general depositors and 7.1% for senior depositors, with one-year and two-year deposits earning 6.25% and 6.4%, respectively [4]. - Kotak Mahindra Bank offers 6.4% interest on three-year fixed deposits for general citizens and 6.90% for senior citizens, with one-year and two-year deposits at 6.25% and 6.4%, respectively, effective from August 20 [5]. - Federal Bank offers 6.4% on one-year, 6.5% on two-year, and 6.5% on three-year fixed deposits, effective from August 18, 2025 [7]. - State Bank of India (SBI) provides 6.3% interest on three-year fixed deposits for regular citizens and 6.8% for senior citizens, with one-year and two-year deposits earning 6.25% and 6.45%, respectively, effective from July 15, 2025 [7]. - Bank of Baroda offers 6.50% interest on three-year fixed deposits for regular citizens and 7% for senior citizens, with one-year and two-year deposits at 6.25% and 6.5%, effective from September 12 [8]. - Union Bank of India provides 6.6% interest on three-year term deposits for regular citizens and 7.1% for senior citizens, with one-year and two-year deposits at 6.4% and 6.5%, respectively, effective from August 20, 2025 [9]. Summary of Interest Rates for Senior Citizens - HDFC Bank: 6.95% for three-year deposits [6] - ICICI Bank: 7.1% for three-year deposits [6] - Kotak Mahindra Bank: 6.90% for three-year deposits [6] - Federal Bank: 6.9% for three-year deposits [6] - State Bank of India (SBI): 6.8% for three-year deposits [6] - Bank of Baroda: 7.0% for three-year deposits [6] - Union Bank of India: 7.1% for three-year deposits [6]