Fixed Deposit Rates In August 2025: SBI To HDFC Bank, How Top Lenders Compare
Many banks are expected to revise their FD rates in the coming days, following the RBI’s decision to keep the repo rate unchanged in its August policy review.
Reserve Bank of India (RBI) on Wednesday kept the repo rate unchanged at 5.5% in its latest monetary policy review. This comes amid pressure on the rupee following fresh tariff threats by US President Donald Trump.
The decision was made during the Monetary Policy Committee (MPC) meeting of the RBI. While acknowledging the uncertainty triggered by the US tariffs,, MPC chairperson and central bank Governor Sanjay Malhotra said the apex bank would continue its neutral stance.
Banks often revise interest rates for loans and various deposits after every change in the repo rate by the RBI. These also include interest rates on fixed deposits, savings accounts and other products. When loans become cheaper, banks tend to reduce FD interest rates after every rate cut by the RBI. This was also seen after the RBI reduced repo rates twice earlier this year.
After RBI’s decision to hold repo rates steady in the latest monetary policy review in August, some banks are expected to further revise FD rates.
Meanwhile, several top lenders are currently offering FD rates of 6.25% to 7.5% per annum over various tenures. Many banks have kept their FD rates, revised in June and July, unchanged.
For instance, the State Bank of India (SBI) offers a 6.25% interest rate for retail term deposits of one- to two-year period. These rates are applicable for deposits worth up to Rs 3 crore. The interest rate has remained effective since July 15.
The largest private lender, HDFC Bank, in a notification issued on June 25, revised its FD interest rates. The bank is currently offering an interest rate of 6.25% per annum on FDs under Rs 3 crore for a duration of one year to 15 months.
Bank of Maharashtra currently offers a 6.7% interest rate on FDs up to Rs 3 crore. These rates came into effect from June 26. The public sector bank has kept its FD rates unchanged since the previous revision in June.
On Aug. 1, Punjab National Bank released its latest FD rates, offering 6.4% returns on fixed deposits worth up to Rs 3 crore. On Aug. 6, Axis Bank also revised its FD rates. Currently, the private lender offers an interest rate of 6.25% per annum for FDs under Rs 3 crore for tenures of one year to one year and 10 days.
