HDFC Bank Cuts FD Rates Below ₹3 Crore After RBI Move

• HDFC Bank reduced interest rates on fixed deposits under ₹3 crore, effective December 16.
• The move follows a similar action by SBI and RBI's repo rate cut to 5.25%.
• Rates for 18-21 month FDs decreased by 15 basis points; general customers now get 6.45%, senior citizens 6.95%.
• Other tenures (7 days to 10 years) also revised, ranging from 2.75% to 6.40%.
• Separate FD options exist for resident and NRI customers; senior citizen rates don't apply to NRIs.

Why It Matters: HDFC Bank has lowered FD interest rates across various tenures, aligning with RBI's repo rate cut.