Fixed deposit (FD) interest rates in India vary by bank, tenure, deposit amount, and customer category. This guide compares the latest published FD rates from selected major banks in 2026, including rates available to eligible senior citizens, so you can see how different options compare before opening a deposit.
The highest advertised FD rate may apply only to a specific tenure or deposit scheme. We therefore look at the applicable tenure and key FD terms alongside the interest rate, while also covering premature withdrawal, tax considerations, and deposit insurance. Always verify the latest rate and terms with the bank before investing.
FD Rates from Major Banks in India 2026
The table below compares selected major banks and their highest published retail FD rates for deposits below ₹3 crore. The highest rate may apply only to a specific tenure or FD scheme, so compare the rate and terms for your preferred investment period before opening an FD.
| Bank |
Highest Regular FD Rate |
Highest Senior Citizen Rate |
Highest-Rate Tenure |
| HDFC Bank |
6.50% |
7.10% |
3 years 1 day to less than 4 years 7 months |
| ICICI Bank |
6.50% |
7.10% |
3 years 1 day to 5 years |
| Axis Bank |
7.25% |
7.75% |
15 months to less than 2 years |
| YES Bank |
7.25% |
7.75% |
18 months 1 day to less than 24 months |
| State Bank of India (SBI) |
6.45% |
7.05% |
444 days / 5 years to 10 years* |
| Punjab National Bank (PNB) |
6.60% |
7.10% |
444 days |
| Bank of Baroda |
6.75% |
7.25% |
555 days |
Note: FD interest rates vary by tenure, deposit amount, deposit type and customer category. Senior-citizen rates generally apply only to eligible resident senior citizens. Always verify the applicable rate and terms on the bank's official website before investing.
Why Choose Fixed Deposits in 2026?
In 2026, Fixed Deposits (FDs) remain one of the safest and most reliable investment options in India, offering predictable interest returns over a fixed tenure. With global markets fluctuating and economic conditions remaining uncertain, FDs provide a sense of security, making them ideal for conservative and risk-averse investors.
Choosing banks that offer the highest fixed deposit interest rates in India 2026 ensures your savings grow faster without exposing your capital to market volatility. Higher FD rates mean more earnings over time, especially for long-term deposits.
Key benefits of investing in FDs in 2026:
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Safety of principal: Bank FDs are generally considered low-risk deposits, but they are not completely risk-free. Eligible deposits are covered by DICGC insurance subject to the applicable rules and coverage limit.
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Predictable returns: Earn fixed interest, unlike volatile equities.
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Higher earnings with top banks: Selecting banks with the best FD rates maximizes returns.
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Flexible tenures: Short-term and long-term FDs available to suit your goals.
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Senior citizen benefits: Many banks offer additional interest rates for those aged 60+.
Ready to grow your savings securely? Check the latest FD rates in India 2026 and choose the best option for your financial goals.
FD Rates and Features by Major Bank in India 2026
FD interest rates vary by bank, tenure, deposit amount and customer category. The rates below reflect the highest retail FD rates that we could verify for each selected major bank. Senior-citizen rates generally apply to eligible resident senior citizens and may vary by tenure.
Because banks can revise FD rates without notice, check the applicable rate and terms on the bank's official website before opening a deposit.
1. HDFC Bank FD Rates
HDFC Bank currently offers a maximum retail FD interest rate of 6.50% per year for regular customers and 7.10% for eligible senior citizens on deposits below ₹3 crore. The highest rates apply to the 3 years 1 day to less than 4 years 7 months tenure category. HDFC Bank's current rate card is applicable from August 19, 2026.
HDFC Bank offers a range of FD tenures and deposit options. Customers should compare the interest rate for their specific tenure and check the applicable premature-withdrawal terms before booking an FD.
Rate verified: August 28, 2026
Also Read: HDFC Bank Personal Loan Eligibility Criteria
2. ICICI Bank FD Rates
ICICI Bank currently offers FD rates of up to 6.50% per year for general customers and 7.10% for eligible senior citizens on retail deposits below ₹3 crore. The 6.50% general-citizen rate applies to selected longer tenures, including 3 years 1 day to 5 years. ICICI Bank's current rate information is effective from August 28, 2026.
ICICI Bank also provides premature-withdrawal options subject to its applicable terms and penalties. Investors should compare the rate for their chosen tenure rather than selecting an FD solely on the basis of the headline maximum rate.
Also Read:
3. Axis Bank FD Rates
Axis Bank's 2026 retail FD rates for deposits below ₹3 crore currently reach 6.50% per year for regular customers and 7.25% for eligible senior citizens. The highest senior-citizen rate applies to the 5-year to 10-year tenure category in the rate schedule available for August 2026.
Rates differ by tenure, so investors should check the rate applicable to the exact period they intend to keep their money invested. Premature withdrawal may also affect the interest earned.
Also Read: Axis Bank Personal Loan Eligibility Criteria
4. YES Bank FD Rates
YES Bank's FD rate card effective June 2, 2026 shows a maximum rate of 7.25% per year for regular customers and 7.75% for eligible senior citizens on deposits below ₹3 crore. The highest rates apply to the 18 months 1 day to less than 24 months tenure.
YES Bank offers different rates across its FD tenure bands, so the maximum advertised rate may not apply to a five-year or other long-term deposit. Investors should check the rate for their specific tenure before booking.
5. State Bank of India (SBI) FD Rates
SBI's published retail domestic term-deposit schedule shows rates that vary significantly by tenure. Its published schedule lists 6.45% for regular customers for 2 years to less than 3 years and a 7.05% senior-citizen rate for 5 years to 10 years. Senior-citizen rates include the applicable additional benefit for eligible customers.
SBI is one of India's largest public-sector banks and offers FD tenures ranging from short-term deposits to deposits of up to 10 years. Before investing, check SBI's latest rate card because deposit rates can be revised.
Rate reference: SBI retail domestic term-deposit rate schedule
6. Punjab National Bank (PNB) FD Rates
PNB's domestic term-deposit rates for deposits below ₹3 crore, revised effective June 1, 2026, show a maximum regular-customer rate of 6.60% and a maximum senior-citizen rate of 7.10% for the 444-day FD tenure.
PNB offers different rates for different deposit periods, including special tenures. Investors should compare the 444-day rate with other available tenures and consider their liquidity requirements before choosing an FD.
7. Bank of Baroda FD Rates
Bank of Baroda's domestic callable FD rates for deposits below ₹3 crore, effective June 12, 2026, show 6.75% for regular customers and 7.25% for eligible senior citizens on the bank's 555-day Golden Goal deposit scheme.
The bank also offers different rates for standard FD tenures and other deposit schemes. Therefore, the 555-day rate should not be treated as the rate applicable to every Bank of Baroda FD.
How to Choose the Right Fixed Deposit for You
Choosing an FD is not only about finding the highest advertised interest rate. The best option depends on how long you can keep the money invested, whether you need regular interest income and whether you qualify for a senior-citizen rate.
- Compare the rate for your exact tenure: A bank's highest FD rate may apply only to one specific tenure. Check the rate that applies to the period you actually need.
- Check the deposit amount: Some rate cards use different slabs for deposits below and above ₹3 crore. Make sure you are comparing the correct deposit category.
- Consider premature withdrawal: If you may need the money before maturity, check whether premature withdrawal is permitted and what penalty or reduced interest rate may apply.
- Check senior-citizen eligibility: Eligible senior citizens may receive an additional interest rate, but the benefit and applicable tenures vary by bank.
- Review the FD type: Callable, non-callable, tax-saving and special-tenure FDs can have different rates and withdrawal conditions.
- Consider deposit insurance: Eligible bank deposits are covered by DICGC insurance subject to the applicable rules and limit. Do not select a bank solely because it advertises a higher FD rate.
- Check the latest rate card before investing: FD rates can change without notice. The rate available when you actually book the deposit is the rate that matters.
Conclusion
Fixed deposits can be a suitable option if you want predictable interest income over a defined period. The rate depends on the bank, tenure, deposit amount, FD scheme, and your eligibility for senior-citizen benefits.
Before opening an FD, compare the rate for your preferred tenure and check premature-withdrawal rules, taxation, maturity instructions, and applicable deposit-insurance coverage. A higher advertised rate may apply only to a specific tenure or scheme, so the highest rate is not necessarily the best option for everyone.
FD rates and terms can change, so verify the latest information on the bank’s official website before investing. Consider your financial goals, liquidity needs, investment period, and risk tolerance when choosing an FD.
Here are answers to common questions about fixed deposits, including FD interest rates, senior-citizen benefits, premature withdrawal, taxation, deposit insurance, and maturity options in India.
What is a Fixed Deposit (FD) and how does it work?
A Fixed Deposit (FD) is a bank deposit in which you invest a lump sum for a selected tenure at a specified interest rate. Depending on the FD type, interest may be paid periodically or accumulated and paid at maturity. At maturity, the bank returns the principal along with the applicable interest, subject to the product's terms and tax rules.
What are the benefits of investing in Fixed Deposits?
FDs can provide predictable interest income without the market-price fluctuations associated with investments such as stocks and equity mutual funds. They are available across different tenures, and many banks offer additional interest rates to eligible senior citizens. However, an FD should not be described as completely risk-free or as guaranteeing a particular real return after tax and inflation.
How do I choose the right bank for a Fixed Deposit?
Compare the interest rate for your exact tenure, deposit amount, premature-withdrawal terms, FD type, and senior-citizen eligibility. You should also consider the bank's deposit-insurance status and the amount you plan to keep with the bank. The highest advertised FD rate may apply only to a specific tenure or scheme, so compare the complete terms rather than the headline rate alone.
Which bank offers the highest FD rate for senior citizens in 2026?
The highest senior-citizen FD rate depends on the bank, tenure and deposit scheme. Among the major banks compared in this article, YES Bank's published rate card effective June 2, 2026 shows up to 7.75% per year for eligible senior citizens on deposits below ₹3 crore, including the 18-month-1-day to less-than-24-month tenure. Rates can change, so check the bank's latest official rate card before investing.
Can I withdraw my Fixed Deposit before maturity?
Many banks allow premature withdrawal of eligible FDs, but the applicable conditions vary by bank and FD type. The bank may reduce the interest rate or charge a premature-withdrawal penalty. Some non-callable or special FD products may have different withdrawal restrictions. Check the terms of your specific FD before booking it.
Are FD interest rates fixed throughout the tenure?
For a conventional fixed-rate FD, the interest rate applicable when the deposit is booked generally remains fixed for that deposit until maturity. The rate does not automatically change when the bank changes the rates offered on new FDs. Different tenures and FD products can have different rates, so compare the rate applicable to your chosen tenure before investing.
What happens if I do not withdraw my FD after it matures?
The outcome depends on the bank's maturity instructions and the FD terms. Some deposits may be automatically renewed if an auto-renewal instruction applies, while others may be credited to your linked account or handled according to the bank's maturity policy. If you do not want an FD to renew, check the maturity instructions when opening the deposit and confirm them with the bank.
Can I get a loan against my Fixed Deposit?
Many banks offer loans or overdraft facilities against eligible fixed deposits, but availability, borrowing limits, interest rates and eligible FD types vary by bank. The amount you can borrow is determined by the bank's applicable policy and the value and type of the deposit. Check the bank's current terms instead of assuming a fixed percentage such as 90% applies to every FD.
What are the tax implications of FD interest in India?
Interest earned on a fixed deposit is generally taxable according to the applicable income-tax rules. Banks may deduct tax at source (TDS) when the applicable threshold is crossed. For eligible resident senior citizens, Section 80TTB provides a deduction of up to ₹50,000 on qualifying interest from deposits with banks, post offices and co-operative banks, subject to the applicable conditions. Tax treatment can depend on your circumstances and the tax regime you use.
Are bank Fixed Deposits insured in India?
Eligible bank deposits, including fixed deposits, are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh per depositor per bank, including principal and interest, subject to the applicable rules. Deposits held in the same right and capacity at different branches of the same bank are aggregated when determining the insurance limit. Deposits at different banks are insured separately.
Can FD rates rise or fall during 2026?
Yes. Banks can revise the interest rates offered on new fixed deposits in response to market conditions, funding requirements and changes in the broader interest-rate environment. However, the rate on an existing conventional fixed-rate FD generally remains applicable for that deposit until maturity, subject to its terms. Always check the latest rate card before opening a new FD.