Scheduled Banks offering highest FD interest rates – 6.50% p.a. and above

Amongst all bank categories, small finance banks are offering the highest FD interest rates. Within the scheduled small finance bank category, Suryoday Small Finance Bank is offering the highest FD interest rate of 9.10% p.a.; followed by Unity Small Finance Bank offering FD rates of 9.00% p.a.  Among scheduled private sector banks, Bandhan Bank and DCB Bank offer the best FD interest rates of up to 8.00% p.a for a tenure of 600 days and 700 days to 3 years respectively. Among scheduled public sector banks, the highest FD rate is offered by the Punjab & Sind Bank of up to 7.35% p.a. for a tenure of 555 days.

Senior citizens (of age 60 years and above) can earn fixed deposit rates of up to 9.60% p.a. on tenures ranging from 1 year to 10 years. Banks usually offer an additional FD interest rate of 50-80 bps over the regular fixed deposit rates to senior citizens. Some banks also offer additional interest rates of 20-30 bps, over and above the additional senior citizen FD rates under special FD schemes.  Additionally, most banks offer preferential interest rates to super senior citizens aged 80 years and above. For instance, RBL Bank, Indian Overseas Bank, Indian Bank and Punjab National Bank offer an additional 75-80 bps over and above the regular FD rates to super senior citizens.

Top 20 Scheduled Banks offering Best FD Rates 

*Senior citizen FD rates are offered for a tenure ranging from 46 days to 10 years

**Additional 25 bps for tenure 3 years to 10 years are offered to senior citizen FD depositors

The rates are updated as of 26 May 2023

Suggested Read: Comparison of FD Interest Rates Offered by All Banks in 2023

Suryoday Small Finance Bank

Suryoday Small Finance Bank FD rates are in the range of 4.00-9.10% p.a. for the general public. Senior citizens FD rates range from 4.50-9.60% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 9.10% p.a. for the general public and 9.60% p.a. for senior citizen depositors.

Highest slab rate	9.10% (for 5 years)
For 1 year	6.85% p.a.
For 2 years	8.50% p.a.
For 3 years	7.25% p.a.
For 4 years	6.75% p.a.
For 5 years	9.10% p.a.
Tax-Saving FD	9.10% p.a.

Unity Small Finance Bank

Unity Small Finance Bank FD rates are in the range of 4.50-9.00% p.a. for the general public. Senior citizens’ FD rates range from 4.50-9.50% p.a. The bank offers FD tenures from 7 days to 10 years.

Highest slab rate	9.00% (for 1001 days)
For 1 year	7.35% p.a.
For 2 years	7.40% p.a.
For 3 years	7.65% p.a.
For 4 years	7.65% p.a.
For 5 years	7.65% p.a.

Fincare Small Finance Bank

Fincare Small Finance Bank FD rates are in the range of 3.00-8.51% p.a. for the general public. Senior citizens FD rates range from 3.60-9.11% p.a. The bank offers FD tenures from 7 days to 84 months. The interest rate for Tax Saving FDs is 8.00% p.a. for the general public and 8.60% p.a. for senior citizen depositors.

Highest slab rate	8.51% (for 1000 days)
For 1 year	7.50%
For 2 years	7.80%
For 3 years	8.00%
For 4 years	7.50%
For 5 years	8.00%
Tax-Saving FD	8.00%

Equitas Small Finance Bank

Equitas Bank FD rates are in the range of 3.50-8.50% p.a. for the general public. Senior citizens fixed deposit rates range from 4.00-9.00% p.a. FD tenures range from 7 days to 10 years. Depositors can also open an FD account without opening a savings account under the Selfe Fixed Deposit scheme, offering a 8.20% p.a. interest rate for 1 year.

Highest slab rate	8.50% (for 888 days)
For 1 year	8.20% p.a.
For 2 years	7.75% p.a.
For 3 years	8.00% p.a.
For 4 years	7.50% p.a.
For 5 years	7.25% p.a.

ESAF Small Finance Bank

ESAF FD interest rates are in the range of 4.00-8.50% p.a. for the general public. The fixed deposit interest rates for senior citizens range from 4.50-9.00% p.a. The bank offers FD tenures from 7 days to 10 years.

Highest slab rate	8.50% (for 2 years to less than 3 years)
For 1 year	6.00% p.a.
For 2 years	8.50% p.a.
For 3 years	6.75% p.a.
For 4 years	6.75% p.a.
For 5 years	6.25% p.a.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank FD rates are in the range of 4.00-8.25% p.a. for the general public. The fixed deposit interest rates for senior citizens range from 4.75-9.00% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 7.50% p.a. for the general public and 8.25% p.a. for senior citizen depositors.

Highest slab rate	8.25% p.a. (for 700 days)
For 1 year	7.75% p.a.
For 2 years	7.50% p.a.
For 3 years	7.50% p.a.
For 4 years	7.50% p.a.
For 5 years	7.50% p.a.
Tax-Saving FD	7.50% p.a.

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank FD rates are in the range of 3.75-8.25% p.a. for the general public. Senior citizens FD rates range from 4.25-8.75% p.a. The bank offers FD tenures from 7 days to 10 years.  The interest rate for Tax Saving FDs is 7.20% p.a. for the general public and 7.70% p.a. for senior citizen depositors.

Highest slab rate	8.25% (for 80 weeks-560 days)
For 1 year	6.50% p.a.
For 2 years	7.50% p.a.
For 3 years	7.20% p.a.
For 4 years	7.20% p.a.
For 5 years	7.20% p.a.
Tax-Saving FD	7.20% p.a.

Jana Small Finance Bank

Jana Small Finance Bank FD rates are in the range of 3.75-8.15% p.a. for the general public. Senior citizens FD rates range from 4.45-8.85% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 6.00% p.a. for the general public and 6.70% p.a. for senior citizen depositors.

Highest slab rate	8.15% (for 500 days)
For 1 year	7.25% p.a.
For 2 years	7.25% p.a.
For 3 years	7.35% p.a.
For 4 years	7.25% p.a.
For 5 years	6.00% p.a.
Tax-Saving FD	6.00% p.a.

Shivalik Small Finance Bank

The FD interest rates of Shivalik Small Finance Bank are in the range of 3.75-8.00% p.a. for the general public. Senior citizens’ FD rates range from 4.25-8.50% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate on Shivalik Small Finance Bank Tax Saving FDs is 7.00% p.a. for the general public and 7.50% p.a. for senior citizen depositors for tenures of 5 years to 10 years.

Highest slab rate	8.00% (for 18 months to 36 months)
For 1 year	7.50% p.a.
For 2 years	8.00% p.a.
For 3 years	8.00% p.a.
For 4 years	7.00% p.a.
For 5 years	7.00% p.a.
Tax-Saving FD	7.00% p.a.

Bandhan Bank

The FD rates of Bandhan Bank are in the range of 3.00-8.00% p.a. to the general public and 3.75- 8.50% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Bandhan Bank Tax Saving FDs is 5.85% p.a. for the general public and 6.60% p.a. for senior citizen depositors for tenures of 5 years to 10 years.

Highest slab rate	8.00% (for 600 days (1 year, 7 months, 22 days))
For 1 year	7.25% p.a.
For 2 years	7.25% p.a.
For 3 years	7.25% p.a.
For 4 years	7.25% p.a.
For 5 years	5.85% p.a.
Tax-Saving FD	5.85% p.a.

AU Small Finance Bank

AU Small Finance Bank FD rates are in the range of 3.75-8.00%  p.a. for the general public. Senior citizens FD interest rates range from 4.25-8.50% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate on AU Small Finance Bank Tax Saving FDs is 7.20% p.a. for the general public and 7.70% p.a. for senior citizen depositors for tenures of 5 years.

Highest slab rate	8.00% (24 months 1 day – 36 months)
For 1 year	6.75% p.a.
For 2 years	7.50% p.a.
For 3 years	8.00% p.a.
For 4 years	7.20% p.a.
For 5 years	7.20% p.a.
Tax-Saving FD	7.20% p.a.

DCB Bank

DCB Bank FD rates are in the range of 3.75-8.00% p.a. to the general public and 4.25-8.50% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on DCB Bank Tax Saving FDs is 7.75% p.a. for the general public and 8.25% p.a. for senior citizen depositors for tenures of 5 years.

Highest slab rate	8.00% (for 700 days to 3 years)
For 1 year	7.25% p.a.
For 2 years	8.00% p.a.
For 3 years	8.00% p.a.
For 4 years	7.75% p.a.
For 5 years	7.75% p.a.
Tax-Saving FD	7.75% p.a.

SBM Bank

SBM Bank FD rates are in the range of 4.25-7.80% p.a. for the general public. Senior citizens FD rates range from 4.75-8.30% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 7.65% p.a. for the general public and 8.15% p.a. for senior citizen depositors.

Highest slab rate	8.40% (for above 3 years 2 days to less than 5 years)
For 1 year	7.05% p.a.
For 2 years	7.30% p.a.
For 3 years	7.65% p.a.
For 4 years	7.80% p.a.
For 5 years	7.65% p.a.
Tax-Saving FD	7.65% p.a.

RBL Bank

RBL Bank FD rates are in the range of 3.25-7.80% p.a. to the general public and 3.75- 8.30% p.a. to senior citizens on tenures ranging from 7 days to 20 years. The interest rate on RBL Bank Tax Saving FDs is 7.00% p.a. for the general public and 7.50% p.a. for senior citizen depositors for tenures of 5 years.

Highest slab rate	7.80% (from 15 months to 725 days)
For 1 year	7.00% p.a.
For 2 years	7.00% p.a.
For 3 years	7.00% p.a.
For 4 years	7.00% p.a.
For 5 years	7.00% p.a.
Tax-Saving FD	7.00% p.a.

IDFC First Bank

IDFC Bank FD rates are in the range of 3.50-7.75% p.a. for the general public. Senior citizens Fixed Deposit rates range from 4.00-8.25% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 7.00% p.a. for the general public and 7.50% p.a. for senior citizen depositors.

Highest slab rate	7.75% (for 18 months 1 day to 3 years)
For 1 year	6.75% p.a.
For 2 years	7.75% p.a.
For 3 years	7.75% p.a.
For 4 years	7.00% p.a.
For 5 years	7.00% p.a.
Tax-Saving FD	7.00% p.a.

YES Bank

YES Bank FD rates are in the range of 3.25-7.75% p.a. for the general public. Senior citizens Fixed Deposit rates range from 3.75-8.25% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 7.00% p.a. for the general public.

Highest slab rate	7.75% p.a. (for 18 months to less than 36 months)
For 1 year	7.50% p.a.
For 2 years	7.75% p.a.
For 3 years	7.00% p.a.
For 4 years	7.00% p.a.
For 5 years	7.00% p.a.
Tax-Saving FD	7.00% p.a.

IndusInd Bank

IndusInd Bank FD rates are in the range of 3.50-7.75% p.a. for the general public. Senior citizens FD rates range from 4.00-8.25% p.a. The bank offers FD tenures from 7 days to 61 months and above. The interest rate for Tax Saving FDs is 7.25% p.a. for the general public and 7.75% p.a. for senior citizen depositors.

Highest slab rate	7.75% p.a. (for 1 year 6 months to 3 years 3 months)
For 1 year	7.50% p.a.
For 2 years	7.75% p.a.
For 3 years	7.75% p.a.
For 4 years	7.25% p.a.
For 5 years	7.25% p.a.
Tax-Saving FD	7.25% p.a.

South Indian Bank

South Indian Bank FD rates are in the range of 2.65-7.40% p.a. for the general public. Senior citizens Fixed Deposit rates range from 3.15-7.50% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 6.00% p.a. for the general public and 6.50% p.a. for senior citizen depositors.

Highest slab rate	7.40% (for 500 days – SIB 94 Plus)
For 1 year	6.60% p.a.
For 2 years	6.50% p.a.
For 3 years	6.50% p.a.
For 4 years	6.50% p.a.
For 5 years	6.00% p.a.
Tax-Saving FD	6.00% p.a.

Punjab & Sind Bank

Punjab & Sind Bank FD rates are in the range of 2.80-7.35% p.a. to the general public and 2.80-7.85% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Tax Saving FD is 6.25% p.a. for the general public and 6.75% p.a. for senior citizens for tenures of 5 years.

Highest slab rate	7.35% (for 555 days)
For 1 year	6.40% p.a.
For 2 years	6.40% p.a.
For 3 years	6.25% p.a.
For 4 years	6.25% p.a.
For 5 years	6.25% p.a.
Tax-Saving FD	6.25% p.a.

Punjab National Bank

PNB FD rates are in the range of 3.50-7.25% p.a. to the general public and 4.00-7.75% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on PNB Tax Saving FDs is 6.50% p.a. for the general public and 7.00% p.a. for senior citizen depositors for tenures of 5 years to 10 years.

Highest slab rate	7.25% p.a. (for 444 days)
For 1 year	6.80% p.a.
For 2 years	6.80% p.a.
For 3 years	7.00% p.a.
For 4 years	6.50% p.a.
For 5 years	6.50% p.a.
Tax-Saving FD	6.50% p.a.

 

 

1 Comment Comments

Ashish

December 10, 2022

Please call need to do FD

Reply

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