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, Unity Small Finance Bank is offering the highest FD interest rate of 9.00% p.a.; followed by Suryoday Small Finance Bank offering FD rates of 8.60% p.a. Among scheduled private sector banks, SBM Bank offers the best FD interest rates of up to 8.10% p.a. for a tenure of 391 days to 15 months. Among scheduled public sector banks, the highest FD rate is offered by the Punjab & Sind Bank of up to 7.40% p.a. for a tenure of 444 days.

Senior citizens (of age 60 years and above) can earn fixed deposit rates of up to 9.50% 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, Union Bank of India, Indian Bank and Punjab National Bank offer an additional 75-80 bps over and above the regular FD rates to super senior citizens. Listed below are the best cumulative FD schemes in terms of interest rates.

Top 20 Scheduled Banks offering Best FD Rates 

The rates are updated as of 21 September 2023

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.

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 4.00-8.60% p.a. for the general public. Senior citizens FD rates range from 4.50-9.10% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 8.25% p.a. for the general public and 8.75% p.a. for senior citizen depositors.

Highest slab rate	8.60% (for Above 2 years to 3 years)
For 1 year	6.85% p.a.
For 2 years	8.50% p.a.
For 3 years	8.60% p.a.
For 4 years	6.75% p.a.
For 5 years	8.25% p.a.
Tax-Saving FD	8.25% 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 750 days)
For 1 year	7.50%
For 2 years	8.01%
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 an 8.20% p.a. interest rate for 1 year.

Highest slab rate	8.50% (for 444 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.

Jana Small Finance Bank

Jana Small Finance Bank FD rates are in the range of 3.00-8.50% p.a. for the general public. Senior citizens FD rates range from 3.50-9.00% p.a. The bank offers FD tenures from 7 days to 10 years. 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	8.50% (for above 2 years to 3 years)
For 1 year	8.00% p.a.
For 2 years	8.25% p.a.
For 3 years	8.50% p.a.
For 4 years	7.25% p.a.
For 5 years	7.25% p.a.
Tax-Saving FD	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 4.00-8.50% p.a. for the general public. The fixed deposit interest rates for senior citizens range from 4.75-9.10% 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	8.50% (for 2 years to 3 years)
For 1 year	8.00% p.a.
For 2 years	8.50% p.a.
For 3 years	8.50% 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 1 year; 80 weeks-560 days)
For 1 year	8.25% 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.

SBM Bank

SBM Bank FD rates are in the range of 4.25-8.10% p.a. for the general public. Senior citizens FD rates range from 4.75-8.60% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 7.75% p.a. for the general public and 8.25% p.a. for senior citizen depositors.

Highest slab rate	8.10% (for 391 days to 15 months)
For 1 year	6.25% p.a.
For 2 years	7.30% p.a.
For 3 years	7.30% p.a.
For 4 years	7.40% p.a.
For 5 years	7.75% p.a.
Tax-Saving FD	7.75% p.a.

Shivalik Small Finance Bank

The FD interest rates of Shivalik Small Finance Bank are in the range of 3.75-8.10% p.a. for the general public. Senior citizens’ FD rates range from 4.25-8.60% 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	8.10% (for 12 months to 18 months)
For 1 year	8.10% 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.

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 7.25% p.a. for the general public and 7.75% 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	7.25% p.a.
For 5 years	7.25% p.a.
Tax-Saving FD	7.25% p.a.

Bandhan Bank

The FD rates of Bandhan Bank are in the range of 3.00-7.85% p.a. to the general public and 3.75- 8.35% 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	7.85% (for 500 days (1 year 4 months 11 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.

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 7.10% p.a. for the general public and 7.60% p.a. for senior citizen depositors for a tenure of 5 years. The bank offers additional interest rates of 0.75% p.a. on regular FD rates to super senior citizens aged 80 years and above.

Highest slab rate	7.80% (from 15 months to less than 2 years)
For 1 year	7.00% p.a.
For 2 years	7.50% p.a.
For 3 years	7.10% p.a.
For 4 years	7.10% p.a.
For 5 years	7.10% p.a.
Tax-Saving FD	7.10% p.a.

DCB Bank

DCB Bank FD rates are in the range of 3.75-7.75% 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 7.40% p.a. for the general public and 7.90% p.a. for senior citizen depositors for tenures of 5 years.

Highest slab rate	7.75% (for 25 months; 37 months)
For 1 year	7.15% p.a.
For 2 years	7.55% p.a.
For 3 years	7.60% p.a.
For 4 years	7.40% p.a.
For 5 years	7.40% p.a.
Tax-Saving FD	7.40% 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.

Highest slab rate	7.75% p.a. (for 18 months to less than 24 months)
For 1 year	7.50% 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	7.25% p.a.
Tax-Saving FD	7.25% p.a.

IndusInd Bank

IndusInd Bank FD rates are in the range of 3.50-7.50% 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	7.50% p.a. (for 1 year to 2 years)
For 1 year	7.50% p.a.
For 2 years	7.50% p.a.
For 3 years	7.25% p.a.
For 4 years	7.25% p.a.
For 5 years	7.25% p.a.
Tax-Saving FD	7.25% p.a.

IDFC First Bank

IDFC Bank FD rates are in the range of 3.50-7.50% p.a. for the general public. Senior citizens Fixed Deposit rates range from 4.00-8.05% 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	7.50% (for 1 year 1 day to 550 days)
For 1 year	6.50% p.a.
For 2 years	7.25% p.a.
For 3 years	7.25% p.a.
For 4 years	7.00% p.a.
For 5 years	7.00% p.a.
Tax-Saving FD	7.00% p.a.

Punjab & Sind Bank

Punjab & Sind Bank FD rates are in the range of 2.80-7.40% p.a. to the general public and 2.80-7.90% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Tax Saving FD is 6.00% p.a. for the general public and 6.50% p.a. for senior citizens for tenures of 5 years. Additional interest rates of 0.15% p.a. on regular fixed deposit rates are offered to super senior citizens on tenures of 400 days, 555 days and 601 days.

Highest slab rate	7.40% (for 444 days)
For 1 year	6.40% p.a.
For 2 years	6.20% p.a.
For 3 years	6.00% p.a.
For 4 years	6.00% p.a.
For 5 years	6.00% p.a.
Tax-Saving FD	6.00% p.a.

Punjab National Bank

PNB FD rates are in the range of 3.50-7.25% p.a. for the general public. Senior citizens Fixed Deposit rates range from 4.00-7.75% p.a. The bank offers FD tenures 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.

Highest slab rate	7.25% p.a. (for 444 days)
For 1 year	6.75% 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.

Bank of Baroda

Bank of Baroda FD rates are in the range of 3.00-7.25% p.a. to the general public and 3.50-7.75% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Bank of Baroda Tax Saving FDs is 6.50% p.a. for the general public and 7.15% – 7.50% p.a. for senior citizen depositors for tenures of 5 years to 10 years.

Highest slab rate	7.25% p.a. (for 399 days)
For 1 year	6.75% p.a.
For 2 years	6.75% p.a.
For 3 years	7.05% 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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