Which banks are giving the highest fixed deposit (FD) interest rates? Check here
Best FD rates: Small finance banks offer the highest interest on fixed deposits, with DCB Bank and Punjab & Sind Bank offering the best rates among private and public sector banks respectively
Amongst all bank categories, small finance banks are offering the highest interest on fixed deposits (FDs). If we talk about private sector banks, DCB Bank offers the best FD interest rates, and among public sector banks, Punjab & Sind Bank is giving the best returns on term deposits. Senior citizens usually get an additional interest rate of 50 bps or more over the regular fixed deposit rates.
Here is a list of banks that offer the highest FD rates
Unity Small Finance Bank's latest FD interest rates
For regular consumers, it offers interest rates between 4.5% to 9%. Senior citizens get an interest rate ranging from 4.5% to 9.5% on deposits maturing in seven days to ten years. The deposit interest rate stands revised from 9 October 2023. The highest interest rate of 9% is offered on a tenure of 1001 days.
Suryoday Small Finance Bank's latest FD interest rates
Suryoday Small Finance Bank provides fixed deposit interest rates between 4% to 8.6% to general customers on deposits maturing in seven days to ten years. Senior Citizens will get an interest rate ranging from 4.5% to 9.1% on deposits maturing in seven days to ten years. The highest interest rate of 8.60% is offered for above 2 years to 3 years These rates are applicable from 7 August 2023.
DCB Bank's latest FD interest rates
DCB Bank offers 3.75% to 7.9% to general customers, and 4.25% to 8.50% to senior citizens. These rates are effective from 27 September 2023.
RBL Bank's latest FD interest rates
While general customers get an interest of 3.50% to 7.80% on fixed deposits, senior citizens get between 4% and 8.30% on term deposits. These rates are with effect from 16 October 2023
IDFC First Bank's latest FD interest rates
IDFC First Bank offers interest rates between 3.50% and 7.75% on fixed deposits for general customers. On the other hand, for senior citizens, the bank offers interest rates of 4 to 8.25%. The highest interest rate of 7.75% is offered on deposits maturing in 549 days to two years
Punjab & Sind Bank's latest FD interest rates
General customers get an interest of 2.8% to 7.40%. The highest interest rate is offered on term deposits maturing in 444 Days. These rates are effective from 1 October 2023
State Bank of India's latest FD interest rates
The largest public sector bank in the country offers interest rates between 3% and 7.10% for all customers. The interest rate for senior citizens varies between 3.5% to 7.6%. These rates were last revised on 15 February 2023.
ICICI Bank's latest FD interest rates
The private sector lender offers interest rates between 3% and 7.1% on FDs for all customers. On the other hand, senior citizens get interest rates of 3.50% to 7.65% on FDs of various tenures effective from 16 October.
HDFC Bank's latest FD interest rates
HDFC bank FDs come with an interest rate of 3% to 7.20% for different tenures. On the other hand, senior citizens get interest rates between 3.5% and 7.75%. These rates are applicable from 1 October 2023.
All the above rates are sourced from the respective banks' websites.
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First Published:3 Nov 2023, 12:32 PM IST
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