Here's a list of 5 major Indian banks that have reduced the interest rates on FDs post RBI Monetary Policy announcement of reduction in repo rates by 50 basis points to 5.50 percent.
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Following the Reserve Bank of India's policy rate cut on Friday, several private and public sector banks have lowered their interest rates on fixed deposits (FDs).
The RBI on Friday (6 June 2025) lowered the repo rate by 50 bps, bringing the repo rate down to 5.5 percent. Here's a list of banks that have reduced the interest rates on FDs.
HDFC Bank has lowered its FD rates by 25 basis points across tenures. It currently offers a 6.25 percent one-year deposit rate. The savings bank interest rate on balances above Rs 50 lakh has also been lowered by 50 basis points to 2.75 percent to bring its rate into line with all savings deposits.
ICICI Bank has cut its FD interest rates by up to 25 basis points. The new rates are effective from June 10, 2025. The bank has reduced its one-year deposit rate by 25 basis points to 6.25 percent. The bank lowered the rate by 35 basis points to 6.50 percent in the 18-month to two-year brackets.
IDFC First has reduced rates by 15-25 basis points. One-year FD rates have been lowered to 6.25 percent. The rates apply to amounts less than three crores and are effective from June 6, 2025.
Indian Bank has lowered its deposit rate for one year but less than two years by 50 basis points to 6.60 percent. The bank is offering 6.10 percent on one-year deposits. The rates apply to amounts less than three crores and are effective from June 9, 2025.
Canara Bank is offering 6.50 percent on one-year deposit.
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