Current FD interest rates – all banks
Tap any column header to re-sort. The general rate is what a non-senior adult earns on a standard retail FD at the most common tenure band; the senior rate applies to depositors 60+ (super-senior premium not shown – adds another 15–25 bps at most banks for 80+). Tenure-specific peaks and special-bucket rates (444-day, 888-day, 1001-day promotions) are noted per bank.
| Bank | Type | Rate (%) | Senior (%) | Notes |
|---|---|---|---|---|
| Jana Small Finance Bank | Small finance | 7.50 | 8.00 | Rates effective 11 Apr 2026 (retail). Range 3.50–7.77% general, 3.50–8.00% senior. Peak 7.77% on 5y (same for general and senior). Tax-saver 5y at 7.77%. DICGC insured up to ₹5 lakh. Premature withdrawal penalty 1.0%. |
| Equitas Small Finance Bank | Small finance | 7.25 | 7.75 | Rates revised Apr 2026. Range 3.50–7.40% general, 4.00–7.90% senior. Peak 7.40% (7.90% senior) on the 888-day special (annualised ~8.05%/8.30%). Senior +50 bps (not applicable on NRE/NRO). DICGC insured up to ₹5 lakh. Premature withdrawal penalty 1.0%. |
| Suryoday Small Finance Bank | Small finance | 7.25 | 7.75 | Rates effective 1 May 2026. Range 4.00–8.10% general, 4.20–8.25% senior. Peak 8.10% (8.25% senior) on the 5y FD. Tax-saver 7.90%. Aggregators occasionally cite 8.60% on a 3y bucket; bank's own page caps 5y at 8.10% – used the bank-card-aligned figure. Senior +50 bps (limited on some buckets). DICGC insured up to ₹5 lakh. Premature withdrawal penalty 1.0%. |
| Ujjivan Small Finance Bank | Small finance | 7.25 | 7.75 | Range 3.75–8.25% general, 4.25–8.75% senior across the full tenure spectrum. Medium-term (1–5y) 7.25–7.45% general / 7.75–7.95% senior. Min deposit ₹1,000. NO premature withdrawal penalty after 6 months. DICGC insured up to ₹5 lakh. |
| Unity Small Finance Bank | Small finance | 7.00 | 7.50 | Rates revised 9 Feb 2026. Range 4.00–7.50% general, 4.00–8.00% senior. Peak 7.50% (8.00% senior) on the 1001-day special. Senior +50 bps. DICGC insured up to ₹5 lakh. Premature withdrawal penalty 1.0%. |
| Utkarsh Small Finance Bank | Small finance | 7.00 | 7.50 | Rates effective 5 May 2026. Range 4.00–7.50% general, 4.50–8.00% senior. Peak 7.50% (8.00% senior) on the 1500-day / medium-long buckets. Senior +50 bps. DICGC insured up to ₹5 lakh. Premature withdrawal penalty 1.0%. |
| Post Office Time Deposit | Post office | 6.90 | 6.90 | Rates set quarterly by Ministry of Finance; current rates effective 1 Apr 2026 to 30 Jun 2026 (unchanged from previous quarter). 2y tenure = 7.00%. No senior-citizen premium on POTD – uniform rates for all. Premature closure only after 6 months; interest computed at PO Savings rate if closed before 1y, otherwise 1–2% reduction from applicable rate. Interest compounded quarterly, paid annually. Sovereign-backed – DICGC cap does not apply. |
| AU Small Finance Bank | Small finance | 6.90 | 7.40 | Rates effective 23 Apr 2026. Range 3.50–7.25% general, 4.00–7.75% senior. Tax-saver 5y FD 7.00%. Senior +50 bps. DICGC insured up to ₹5 lakh. Premature withdrawal penalty 1.0%. |
| Yes Bank | Private | 6.75 | 7.25 | Range 3.25–7.00% general, 3.75–7.75% senior. Senior +50 bps below 3y and +75 bps for 3y+. Min deposit ₹10,000. Premature withdrawal penalty 0.75% (waived for senior citizens). |
| Kotak Mahindra Bank | Private | 6.50 | 7.00 | Rates effective 11 Feb 2026 (deposits under ₹3 Cr). Range 2.75–6.70% general, up to 7.20% senior. Peak 6.70% (7.20% senior) on the 15m–under 2y bucket. Tax-saver FD 6.25%. Premature withdrawal penalty 0.5% (1% for amounts ≥ ₹5 Cr). |
| SBI | Public sector | 6.25 | 6.75 | Rates effective May 2026 for domestic FDs under ₹3 Cr. Peak 6.45% (6.95% senior) on the 444-day Amrit Vrishti special. Senior +50 bps standard. Premature withdrawal: 0.50% penalty on FDs up to ₹5 lakh, 1.0% for ₹5 lakh–₹1 Cr. |
| HDFC Bank | Private | 6.25 | 6.75 | Rates effective 7 March 2026 (deposits under ₹3 Cr). Range 2.75–6.50% general, up to 7.00% senior. Senior +50 bps plus extra +25 bps on the 5y1d–10y bucket. Premature withdrawal penalty 1.0%. |
| ICICI Bank | Private | 6.25 | 6.75 | Rates effective Feb 2026 (deposits under ₹3 Cr). Range 2.75–6.50% general, up to 7.10% senior. Senior +55 bps on the 15–18 month special bucket. Premature withdrawal penalty 1.0% for deposits ≥ ₹5 lakh (0.5% below). |
| Axis Bank | Private | 6.25 | 6.75 | Rates effective 1 May 2026 (deposits under ₹3 Cr). Range 3.00–6.60% general, 3.50–7.35% senior. Tax-saver FD 6.45%. Premature withdrawal penalty 1.0%. |
| PNB | Public sector | 6.25 | 6.75 | Rates revised 24 Feb 2026 / effective 1 Feb 2026. Range 3.00–6.40% general, 3.50–6.90% senior. Peak 6.60% (7.10% senior) on the 444-day special. Aggregators occasionally cite a higher 7.45% rate for the 3–5y band; bank's own card caps at 6.40% – used the bank-card-aligned figure. Premature withdrawal penalty 1.0% (waived above 5y for amounts under ₹5 lakh). |
| Bank of India | Public sector | 6.25 | 6.75 | Rates as of May 2026. Range 3.00–6.60% general, 3.00–7.10% senior. Peak 6.70% (7.20% senior) on the 450-day special. Senior +50 bps, super-senior +65 bps on tenures ≥ 6 months. Premature withdrawal penalty 1.0%. |
| IDBI Bank | Public sector | 6.25 | 6.75 | Range 3.00–6.50% general, 3.50–7.00% senior. Peak 6.60% (7.10% senior, 7.25% super-senior) on the 444-day special. Premature withdrawal penalty 1.0%. |
| Canara Bank | Public sector | 6.25 | 6.75 | Rates effective 17 March 2026. Range 3.00–6.50% general, 3.00–7.00% senior. Peak 6.50% (7.00% senior) on the 444-day special. Senior +50 bps on tenures 180 days+. Premature withdrawal penalty 1.0%. |
| Bank of Baroda | Public sector | 6.10 | 6.60 | Rates revised 1 May 2026. Range 3.50–6.45% general, 4.00–7.00% senior. Peak 6.45% on the 444-day special. Premature withdrawal penalty 1.0% for retail deposits. |
Rates verified on 2026-07-07. Source: Bank websites + aggregator FD rate compilations (Paisabazaar, Policybazaar, BankBazaar, StableMoney, Upstox). Re-verified 2026-07-07 — no material change since the May compilation (RBI repo held at 5.25% at the June 2026 MPC). Refresh next: 2026-08-07.. Bank rates change frequently – confirm on the bank's official page before applying or depositing.
How to read the table
Three columns matter most when you're comparing FDs:
- Rate (general) – the headline rate for a non-senior depositor on the bank's most common retail tenure band (typically 1y or 3y). The "notes" column flags the bank's peak rate when a special-tenure bucket pays meaningfully more.
- Senior (%) – the rate for depositors 60+. The standard premium is +50 bps; a few banks layer an extra +25 bps on long-tenure or special buckets. Yes Bank waives the premature-withdrawal penalty entirely for seniors.
- Notes – the bank's full rate range (low to high), the peak special-tenure rate, premature-withdrawal penalty, and any tax-saver / promotional caveats.
Once you've picked a bank and tenure, plug the rate into the FD calculator to see maturity value at quarterly compounding (the regulatory standard in India), or use the FD interest calculator if you want the interest-only figure separated from principal.
Looking for the absolute peak rate rather than the best fit? The companion highest FD interest rates page surfaces the rate-by-rate leaderboard (general + senior), the highest by tenure (1y / 3y / 5y), and the special-tenure festival buckets where the peaks usually sit.
SCSS interest rate (July–September 2026)
The Senior Citizens' Savings Scheme (SCSS) pays 8.2% p.a. for the July–September 2026 quarter – held unchanged in the Ministry of Finance's 30 June 2026 small-savings review. Interest is paid quarterly, the tenure is 5 years (extendable by 3), the deposit ceiling is ₹30 lakh, and deposits qualify for Section 80C. It is the highest-paying sovereign-backed option for depositors aged 60+.
Post Office FD interest rate
The Post Office Time Deposit pays 6.90% for 1 year and 7.50% for 5 years in the July–September 2026 quarter (rates are reset quarterly by the Ministry of Finance). It is sovereign-backed with no DICGC ₹5 lakh cap relevance and carries no senior-citizen premium; the 5-year deposit qualifies for a Section 80C deduction but locks in for the full term.
Senior citizen FD rates (5-year)
Banks add a +50 bps senior-citizen premium over the general rate, so a 6.05% 5-year FD pays roughly 6.55% to a depositor aged 60+. The highest 5-year senior rates sit with Small Finance Banks – up to about 8.10% at Suryoday and Utkarsh (as of 1 July 2026) – but only ₹5 lakh per bank is DICGC-insured, so large deposits should be split across banks. See the senior column in the table above for the bank-by-bank figures.
Highest FD interest rate in India right now
As of July 2026 the highest FD rates come from Small Finance Banks, with senior-citizen rates reaching about 8.30% on select special-tenure buckets and 5-year rates around 8.10% (Suryoday, Utkarsh). Mainline PSU and private banks top out near 6.5–7.0% general. For the full rate-by-rate leaderboard by tenure, see the highest FD interest rates page – and remember the DICGC ₹5 lakh insurance cap applies to SFB deposits.
PSU vs private vs Small Finance vs Post Office
The four segments behave quite differently:
- PSU banks (SBI, PNB, BoB, BoI, Canara, IDBI) – uniform retail experience, the largest branch networks, and rate-card stability that tracks RBI MCLR / repo-linked benchmarks. Headline rates cluster at 6.10–6.25% general with 50 bps senior premium. The DICGC ₹5 lakh cap applies technically, but the implicit sovereign backing of PSU banks means depositor losses have been effectively zero in the post-2008 era.
- Private banks (HDFC, ICICI, Axis, Kotak, Yes Bank, IDBI) – similar headline rates to PSUs (6.25–6.75% general), occasionally higher on special-tenure buckets. Kotak's 11 Feb 2026 card pays 6.70% on its 15m–under-2y bucket; Yes Bank pays 7.00% on 3y. Premature withdrawal penalties are usually 1.0% across the board.
- Small Finance Banks (Jana, Equitas, AU, Unity, Suryoday, Ujjivan, Utkarsh) – the highest rates in the system. Jana 7.50% / Equitas 7.25% on 1-year general; Suryoday 8.10% on its 5-year bucket; Unity 7.50% on the 1001-day special. Quid pro quo: DICGC insurance caps the protection at ₹5 lakh per depositor per bank, and these banks have shorter operating histories than the mainline names.
- Post Office Time Deposit – rates set quarterly by the Ministry of Finance, currently paying 6.90% on 1y and 7.50% on 5y. Sovereign-backed (no DICGC cap relevance). No senior-citizen premium. The 5y POTD qualifies for Section 80C deduction but locks for the full 5 years.
DICGC ₹5 lakh insurance – what it actually covers
The Deposit Insurance and Credit Guarantee Corporation insures bank deposits up to ₹5 lakh per depositor per bank (raised from ₹1 lakh in 2020). The cap applies to the combined balance across all your accounts at the same bank – savings, current, FD, RD – not per account. Two practical implications:
- SFB deposits above ₹5 lakh aren't fully insured. If you're parking ₹10 lakh in an SFB FD to capture the higher rate, half of it sits outside DICGC. The fix is to split: ₹5 lakh in one SFB, ₹5 lakh in another, so each FD stays within the cap.
- Joint-holder permutations are separate depositors. A "Self + Spouse" FD and a "Spouse + Self" FD are treated as two different depositor entities at the same bank – each is independently insured to ₹5 lakh. This is the standard workaround for larger SFB deposits at a single bank.
For amounts where the DICGC split becomes operationally awkward (above ~₹15–20 lakh), genuinely sovereign-backed instruments – Post Office Time Deposit, RBI Savings (Floating Rate) Bonds, GSec direct via RBI Retail Direct – sit outside the DICGC framework entirely.
Choosing a tenure in the current rate cycle
The RBI repo rate sits at 5.25% – held at the June 2026 MPC for a second straight meeting on a neutral stance, after a cumulative 100 bps of cuts from 6.50% in this easing cycle. Bank FD rates have repriced down from the 2023–24 peak and now sit in the lower half of the recent cycle. Three plausible tenure strategies:
- Lock long if you think rates fall further. If you expect another 25–50 bps of repo cuts over the next 12–18 months, the 3y / 5y FD at today's rate beats rolling shorter FDs into successive lower rates. The Post Office 5y at 7.50% and the SFB 5y peaks (Suryoday 8.10%, Jana 7.77%) are the most aggressive "lock the rate" plays.
- Ladder if you want optionality. Split the deposit into 1y / 2y / 3y / 5y buckets so one matures every year. You lose a touch on average yield but gain liquidity and the ability to roll into better rates if the cycle turns.
- Special-tenure buckets are usually the rate peak. 444-day, 888-day, 1001-day "festival" FDs are pricing tools banks use to push specific maturities; they routinely pay 20–40 bps above the adjacent standard tenures. Worth checking when you have flexibility on the exact tenure.
Senior-citizen premium
Standard premium across virtually all scheduled commercial banks and SFBs is +50 basis points over the general rate. A 6.25% general FD pays 6.75% to a senior. Several banks layer a second tier – "super-senior" or "very senior", typically for depositors 80+ – at +75 bps over the general rate. IDBI publishes a +75 bps super-senior tier on its 444-day special.
Two caveats most rate cards bury in fine print:
- NRE / NRO deposits usually don't get the premium – it's a resident-Indian senior-citizen benefit.
- Some special-tenure buckets cap or exclude the premium – the 444-day specials usually keep the +50, but some bank-specific promotions don't. Always check the bucket-by-bucket card before depositing a large amount.
TDS and tax on FD interest
FD interest is taxed as Income from Other Sources at your marginal slab rate. The bank deducts TDS at 10% when total interest paid to you in a financial year crosses ₹40,000 (general) or ₹50,000 (senior citizens, raised from ₹40,000 by the 2024 Finance Act). The TDS is creditable against your final tax liability when you file your return.
If your total taxable income is below the basic exemption limit (₹2.5 lakh for general; ₹3 lakh for senior citizens; ₹5 lakh for super-seniors under the old regime), you can submit Form 15G (under 60) or Form 15H (60+) at the start of the financial year to ask the bank to skip TDS. The full eligibility test and a sample form are in the Form 15G/15H guide .