HDFC Bank's savings account deposits grew by 5.50% on a quarterly basis. Current account deposits however fell by almost 14% as compared to the quarter earlier.

HDFC Bank had on April 15 slashed interest rates on saving accounts by 25 basis points, following which accounts with deposits of upto Rs 50 lakh earn an interest rate of 3.25% whilst accounts with balances above Rs 50 lakh earn an interest of 3.75%.