Top 7 banks offering the highest FD interest rates — check the latest list
Top Indian banks are offering competitive fixed deposit interest rates, with PNB providing 6.70% for regular citizens and 7.20% for seniors, effective June 18. Union Bank offers 6.85% and 7.35%, while SBI provides 6.45% with an extra for seniors. Following RBI's repo rate cut, banks have adjusted their FD rates. Always compare rates before investing.
Before you open a fixed deposit with a bank, it is important to compare the interest rates offered by different banks. After RBI cut the repo rate by 100 basis points in three monetary policy committee (MPC) meetings since February this year, banks have followed suit. Most banks have already cut their interest rates on term deposits.
These banks offer the highest interest rates on their fixed deposits (FDs).
Top banks offer highest interest rates
I. HDFC Bank: Highest interest offered by HDFC Bank is on 15-21 months tenure. The highest interest rate offered is 6.60 percent per annum to general citizens and 7.10 percent to senior citizens. On one-year tenure, the bank offers 6.25 percent and 6.75 percent, respectively.
II. ICICI Bank: Highest rate offered by ICICI Bank is 6.60 percent on tenure between 2-5 years to general citizens and 7.10 percent to senior citizens.
| Bank | Regular (%) | Senior citizens (%) | Tenure |
|---|---|---|---|
| HDFC Bank | 6.6 | 7.10 | 15-21 months |
| ICICI Bank | 6.6 | 7.10 | 2-5 years |
| Kotak Mahindra Bank | 6.6 | 7.10 | 391-23 months |
| Federal Bank | 6.85 | 7.35 | 444 days |
| PNB | 6.70 | 7.20 | 390 days |
| Union Bank of India | 6.85 | 7.35 | 456 days |
| State Bank of India (SBI) | 6.45 | 6.95 | 2-3 years |
III. Kotak Mahindra Bank: This private sector bank offers 6.6 percent on tenure between 391 days to 23 months. These rates came into force from June 18 onwards.
IV. Federal Bank: On a tenure of 444 days, this bank offers 6.85 percent to regular citizens and 7.35 percent to senior citizens. These rates became effective on June 12, 2025.
V. PNB: This state lender offers 6.70 percent on a tenure of 390 days to regular citizens and 7.20 percent to senior citizens per the latest rates which came into force on June 18.
VI. Union Bank of India: This state lender offers 6.85 percent on a tenure of 456 days to general citizens and 7.35 percent to senior citizens. These interest rates came into effect on June 12.
VII. SBI (State Bank of India): The largest lender in India offers 6.45 percent to depositors on deposits of tenure between 2-3 years with effect from June 15, 2025. Senior citizens are entitled to receive an extra 50 basis points.
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