Compare interest rates across major banks and small finance banks — updated June 2026
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| Bank | 1 Year | 2 Years | 3 Years | 5 Years | Senior Citizen Bonus |
|---|---|---|---|---|---|
| SBI | 6.80% | 7.00% | 6.75% | 6.50% | +0.50% |
| HDFC Bank | 6.60% | 7.25% | 7.25% | 7.00% | +0.50% |
| ICICI Bank | 6.70% | 7.25% | 7.00% | 6.90% | +0.50% |
| Axis Bank | 6.70% | 7.10% | 7.10% | 7.00% | +0.75% |
| Kotak Mahindra Bank | 7.10% | 7.10% | 7.10% | 6.20% | +0.50% |
| Punjab National Bank | 6.80% | 6.80% | 6.50% | 6.50% | +0.50% |
| Bank of Baroda | 6.85% | 7.15% | 6.50% | 6.50% | +0.50% |
| Canara Bank | 6.85% | 6.85% | 6.70% | 6.70% | +0.50% |
| IDFC First Bank | 7.25% | 7.25% | 7.25% | 7.25% | +0.50% |
| IndusInd Bank | 7.50% | 7.25% | 7.25% | 7.25% | +0.50% |
Small Finance Banks offer higher interest rates but have DICGC insurance only up to ₹5 lakh per depositor.
| Bank | Best Rate | Best Tenure | Senior Citizen Rate | DICGC Insured |
|---|---|---|---|---|
| Unity Small Finance Bank | 9.00% | 1001 days | 9.50% | ✅ Yes (up to ₹5L) |
| Suryoday Small Finance Bank | 8.65% | 2–3 years | 9.15% | ✅ Yes |
| Utkarsh Small Finance Bank | 8.50% | 2 years | 9.00% | ✅ Yes |
| ESAF Small Finance Bank | 8.50% | 2 years | 9.00% | ✅ Yes |
| Jana Small Finance Bank | 8.25% | 1–2 years | 8.75% | ✅ Yes |
| NorthEast Small Finance Bank | 8.00% | 1–3 years | 8.50% | ✅ Yes |
Split your corpus into FDs of different tenures (1Y, 2Y, 3Y). Renew them as they mature to benefit from rate changes.
Banks offer 0.50–0.75% extra to senior citizens (60+). If investing for parents, open FD in their name for better returns.
Each bank insures deposits up to ₹5 lakh per depositor. Spread large amounts across multiple banks for full safety.
FD interest is taxable as per your income slab. Submit Form 15G/15H if income is below taxable limit to avoid TDS deduction.
Most banks auto-renew FDs at the prevailing rate — which may be lower. Set a reminder to review on maturity.
Online/digital FDs often offer 0.10–0.25% higher rates than branch FDs. Use net banking or a broker platform to book.