diff --git a/api/v1beta2/helmrepository_types.go b/api/v1beta2/helmrepository_types.go
index a73a445b..1c25a9eb 100644
--- a/api/v1beta2/helmrepository_types.go
+++ b/api/v1beta2/helmrepository_types.go
@@ -89,13 +89,13 @@ type HelmRepositorySpec struct {
 	// efficient use of resources.
 	// +kubebuilder:validation:Type=string
 	// +kubebuilder:validation:Pattern="^([0-9]+(\\.[0-9]+)?(ms|s|m|h))+$"
-	// +required
-	Interval metav1.Duration `json:"interval"`
+	// +optional
+	Interval metav1.Duration `json:"interval,omitempty"`
 
 	// Timeout is used for the index fetch operation for an HTTPS helm repository,
-	// and for remote OCI Repository operations like pulling for an OCI helm repository.
+	// and for remote OCI Repository operations like pulling for an OCI helm
+	// chart by the associated HelmChart.
 	// Its default value is 60s.
-	// +kubebuilder:default:="60s"
 	// +kubebuilder:validation:Type=string
 	// +kubebuilder:validation:Pattern="^([0-9]+(\\.[0-9]+)?(ms|s|m))+$"
 	// +optional
@@ -170,7 +170,19 @@ func (in *HelmRepository) SetConditions(conditions []metav1.Condition) {
 // GetRequeueAfter returns the duration after which the source must be
 // reconciled again.
 func (in HelmRepository) GetRequeueAfter() time.Duration {
-	return in.Spec.Interval.Duration
+	if in.Spec.Interval.Duration != 0 {
+		return in.Spec.Interval.Duration
+	}
+	return time.Minute
+}
+
+// GetTimeout returns the timeout duration used for various operations related
+// to this HelmRepository.
+func (in HelmRepository) GetTimeout() time.Duration {
+	if in.Spec.Timeout != nil {
+		return in.Spec.Timeout.Duration
+	}
+	return time.Minute
 }
 
 // GetArtifact returns the latest artifact from the source if present in the
diff --git a/config/crd/bases/source.toolkit.fluxcd.io_helmrepositories.yaml b/config/crd/bases/source.toolkit.fluxcd.io_helmrepositories.yaml
index 5d157287..a17ab56d 100644
--- a/config/crd/bases/source.toolkit.fluxcd.io_helmrepositories.yaml
+++ b/config/crd/bases/source.toolkit.fluxcd.io_helmrepositories.yaml
@@ -357,10 +357,10 @@ spec:
                   of this HelmRepository.
                 type: boolean
               timeout:
-                default: 60s
                 description: Timeout is used for the index fetch operation for an
                   HTTPS helm repository, and for remote OCI Repository operations
-                  like pulling for an OCI helm repository. Its default value is 60s.
+                  like pulling for an OCI helm chart by the associated HelmChart.
+                  Its default value is 60s.
                 pattern: ^([0-9]+(\.[0-9]+)?(ms|s|m))+$
                 type: string
               type:
@@ -376,7 +376,6 @@ spec:
                 pattern: ^(http|https|oci)://.*$
                 type: string
             required:
-            - interval
             - url
             type: object
           status:
diff --git a/docs/api/v1beta2/source.md b/docs/api/v1beta2/source.md
index edfa29a5..46649e23 100644
--- a/docs/api/v1beta2/source.md
+++ b/docs/api/v1beta2/source.md
@@ -866,6 +866,7 @@ Kubernetes meta/v1.Duration
 </em>
 </td>
 <td>
+<em>(Optional)</em>
 <p>Interval at which the HelmRepository URL is checked for updates.
 This interval is approximate and may be subject to jitter to ensure
 efficient use of resources.</p>
@@ -883,7 +884,8 @@ Kubernetes meta/v1.Duration
 <td>
 <em>(Optional)</em>
 <p>Timeout is used for the index fetch operation for an HTTPS helm repository,
-and for remote OCI Repository operations like pulling for an OCI helm repository.
+and for remote OCI Repository operations like pulling for an OCI helm
+chart by the associated HelmChart.
 Its default value is 60s.</p>
 </td>
 </tr>
@@ -2583,6 +2585,7 @@ Kubernetes meta/v1.Duration
 </em>
 </td>
 <td>
+<em>(Optional)</em>
 <p>Interval at which the HelmRepository URL is checked for updates.
 This interval is approximate and may be subject to jitter to ensure
 efficient use of resources.</p>
@@ -2600,7 +2603,8 @@ Kubernetes meta/v1.Duration
 <td>
 <em>(Optional)</em>
 <p>Timeout is used for the index fetch operation for an HTTPS helm repository,
-and for remote OCI Repository operations like pulling for an OCI helm repository.
+and for remote OCI Repository operations like pulling for an OCI helm
+chart by the associated HelmChart.
 Its default value is 60s.</p>
 </td>
 </tr>
diff --git a/docs/spec/v1beta2/helmrepositories.md b/docs/spec/v1beta2/helmrepositories.md
index f9d9542f..a05155eb 100644
--- a/docs/spec/v1beta2/helmrepositories.md
+++ b/docs/spec/v1beta2/helmrepositories.md
@@ -352,8 +352,9 @@ for more information about setting up GKE Workload Identity.
 **Note:** This field is ineffectual for [OCI Helm
 Repositories](#helm-oci-repository).
 
-`.spec.interval` is a required field that specifies the interval which the
-Helm repository index must be consulted at.
+`.spec.interval` is a an optional field that specifies the interval which the
+Helm repository index must be consulted at. When not set, the default value is
+`1m`.
 
 After successfully reconciling a HelmRepository object, the source-controller
 requeues the object for inspection after the specified interval. The value
@@ -385,8 +386,8 @@ Repositories](#helm-oci-repository).
 `.spec.timeout` is an optional field to specify a timeout for the fetch
 operation. The value must be in a
 [Go recognized duration string format](https://pkg.go.dev/time#ParseDuration),
-e.g. `1m30s` for a timeout of one minute and thirty seconds. The default value
-is `60s`.
+e.g. `1m30s` for a timeout of one minute and thirty seconds. When not set, the
+default value is `1m`.
 
 ### Secret reference
 
diff --git a/internal/controller/helmchart_controller.go b/internal/controller/helmchart_controller.go
index 52b4b0ed..41b90194 100644
--- a/internal/controller/helmchart_controller.go
+++ b/internal/controller/helmchart_controller.go
@@ -514,7 +514,7 @@ func (r *HelmChartReconciler) reconcileSource(ctx context.Context, sp *patch.Ser
 func (r *HelmChartReconciler) buildFromHelmRepository(ctx context.Context, obj *helmv1.HelmChart,
 	repo *helmv1.HelmRepository, b *chart.Build) (sreconcile.Result, error) {
 	// Used to login with the repository declared provider
-	ctxTimeout, cancel := context.WithTimeout(ctx, repo.Spec.Timeout.Duration)
+	ctxTimeout, cancel := context.WithTimeout(ctx, repo.GetTimeout())
 	defer cancel()
 
 	normalizedURL, err := repository.NormalizeURL(repo.Spec.URL)
@@ -999,7 +999,7 @@ func (r *HelmChartReconciler) namespacedChartRepositoryCallback(ctx context.Cont
 		}
 
 		// Used to login with the repository declared provider
-		ctxTimeout, cancel := context.WithTimeout(ctx, obj.Spec.Timeout.Duration)
+		ctxTimeout, cancel := context.WithTimeout(ctx, obj.GetTimeout())
 		defer cancel()
 
 		clientOpts, certsTmpDir, err := getter.GetClientOpts(ctxTimeout, r.Client, obj, normalizedURL)
diff --git a/internal/helm/getter/client_opts.go b/internal/helm/getter/client_opts.go
index ce7620ca..4dfc97b4 100644
--- a/internal/helm/getter/client_opts.go
+++ b/internal/helm/getter/client_opts.go
@@ -72,7 +72,7 @@ func GetClientOpts(ctx context.Context, c client.Client, obj *helmv1.HelmReposit
 	hrOpts := &ClientOpts{
 		GetterOpts: []helmgetter.Option{
 			helmgetter.WithURL(url),
-			helmgetter.WithTimeout(obj.Spec.Timeout.Duration),
+			helmgetter.WithTimeout(obj.GetTimeout()),
 			helmgetter.WithPassCredentialsAll(obj.Spec.PassCredentials),
 		},
 	}