Fixed Deposit Interest Rates 2026
Compare the latest FD rates of 25 banks for general and senior citizens, calculate your maturity amount, and understand tax, TDS, premature withdrawal and deposit insurance — everything you need before booking an FD.
Repo rate 5.25% · Bank rate cards checked 27 September 2026Highest FD interest rates — 25 banks compared
The RBI’s repo rate is 5.25% (unchanged in the August 2026 policy, neutral stance), after 1.25 percentage points of cuts during 2025. Deposit rates have followed: large public and private banks now pay around 6.0%–6.6% for 1–5 years, while several mid-sized private banks still offer 7%–7.45%.
Highest rate each bank pays on any tenure, for deposits below ₹3 crore. Tap a bank for its full tenure-wise rate card.
| Bank | Highest – general | Highest – senior | Range (general) | Rate card effective |
|---|---|---|---|---|
| Bandhan BankPrivate sector | 7.45%2 – <3 years | 7.95%2 – <3 years | 2.95% – 7.45% | 20 Jun 2026 |
| IDFC FIRST BankPrivate sector | 7.25%500 days – 3 years | 7.50%500 days – 3 years | 3.25% – 7.25% | 25 Jul 2026 |
| YES BankPrivate sector | 7.25%18 months 1 day – <24 months | 7.75%18 months 1 day – <24 months / 3 – 5 years | 3.25% – 7.25% | 2 Jun 2026 |
| RBL BankPrivate sector | 7.20%18 – 36 months | 7.70%18 – 36 months | 3.50% – 7.20% | 8 Sep 2026 |
| Tamilnad Mercantile BankPrivate sector | 7.10%456 days | 7.50%456 days | 4.00% – 7.10% | 1 Jan 2026 |
| IndusInd BankPrivate sector | 7.00%1 year 6 months – <1 year 7 months | 7.50%1 year 6 months – <1 year 7 months | 3.25% – 7.00% | 1 Sep 2026 |
| Kotak Mahindra BankPrivate sector | 6.80%2 – <3 years | 7.30%2 – <3 years | 2.75% – 6.80% | 10 Jun 2026 |
| South Indian BankPrivate sector | 6.80%30 months | 7.30%30 months | 2.90% – 6.80% | 19 Jun 2026 |
| Bank of BarodaPublic sector | 6.75%555 days (bob Golden Goal) | 7.25%555 days (bob Golden Goal) | 3.50% – 6.75% | 12 Jun 2026 |
| Federal BankPrivate sector | 6.75%36 months | 7.25%36 months | 3.00% – 6.75% | 12 Mar 2026 |
| Bank of IndiaPublic sector | 6.70%3 years | 7.45%3 years | 3.00% – 6.70% | 18 May 2026 |
| Indian BankPublic sector | 6.65%555 days (Ind Grow) | 7.15%555 days (Ind Grow) | 2.80% – 6.65% | 4 Aug 2026 |
| Karnataka BankPrivate sector | 6.65%555 days | 7.05%555 days | 3.50% – 6.65% | 1 Mar 2026 |
| Canara BankPublic sector | 6.60%555 days | 7.10%555 days | 3.00% – 6.60% | 5 Aug 2026 |
| Indian Overseas BankPublic sector | 6.60%444 days | 7.10%444 days | 3.50% – 6.60% | 15 May 2026 |
| Punjab National BankPublic sector | 6.60%444 days | 7.10%444 days | 3.00% – 6.60% | 1 Jun 2026 |
| Standard Chartered BankForeign bank | 6.60%1 year – 376 days | 7.10%1 year – 376 days | 2.75% – 6.60% | 25 Sep 2026 |
| Bank of MaharashtraPublic sector | 6.55%400 days | 7.05%400 days | 2.60% – 6.55% | 31 Jan 2026 |
| Union Bank of IndiaPublic sector | 6.55%555 days | 7.05%555 days | 2.70% – 6.55% | 4 Aug 2026 |
| Axis BankPrivate sector | 6.50%18 months – <2 years / 2 – <3 years / 3 – <5 years / 5 – 10 years | 7.25%5 – 10 years | 3.00% – 6.50% | 19 Aug 2026 |
| HDFC BankPrivate sector | 6.50%3 years – 4 years 7 months | 7.00%3 years – 4 years 7 months | 2.75% – 6.50% | 6 Mar 2026 |
| ICICI BankPrivate sector | 6.50%3 years 1 day – 5 years / 5 years 1 day – 10 years | 7.10%3 years 1 day – 5 years | 2.75% – 6.50% | 27 Jul 2026 |
| IDBI BankPrivate sector | 6.50%>2 – <3 years | 7.00%>2 – <3 years | 3.00% – 6.50% | Jun 2026 |
| State Bank of IndiaPublic sector | 6.45%444 days (Amrit Vrishti) | 7.05%5 – 10 years | 3.05% – 6.45% | 15 Dec 2025 |
| Central Bank of IndiaPublic sector | 6.30%444 / 555 days | 6.80%444 / 555 days | 3.00% – 6.30% | 10 Dec 2025 |
Source: each bank’s published rate card as compiled on 27 September 2026. Rates change often — confirm on the bank’s website before investing.
FD rates for 1, 2, 3 and 5 years
The best bucket differs by bank. This table shows what each bank pays for a deposit of exactly 1, 2, 3 or 5 years — the tenures most people choose.
| Bank | 1 year | 2 years | 3 years | 5 years |
|---|---|---|---|---|
| IDFC FIRST Bank | 6.50% Sr: 6.75% | 7.25% Sr: 7.50% | 7.25% Sr: 7.50% | 6.75% Sr: 7.00% |
| Bandhan Bank | 7.00% Sr: 7.50% | 7.45% Sr: 7.95% | 7.25% Sr: 7.75% | 5.85% Sr: 6.60% |
| RBL Bank | 7.00% Sr: 7.50% | 7.20% Sr: 7.70% | 7.20% Sr: 7.70% | 7.00% Sr: 7.50% |
| YES Bank | 6.65% Sr: 7.15% | 7.00% Sr: 7.50% | 7.00% Sr: 7.75% | 7.00% Sr: 7.75% |
| Federal Bank | 6.25% Sr: 6.75% | 6.40% Sr: 6.90% | 6.75% Sr: 7.25% | 6.40% Sr: 6.90% |
| Bank of India | 6.50% Sr: 7.00% | 6.60% Sr: 7.10% | 6.70% Sr: 7.45% | 6.00% Sr: 6.75% |
| IndusInd Bank | 6.75% Sr: 7.25% | 6.90% Sr: 7.40% | 6.65% Sr: 7.15% | 6.65% Sr: 7.15% |
| Tamilnad Mercantile Bank | 6.80% Sr: 7.30% | 6.60% Sr: 7.10% | 6.60% Sr: 7.10% | 6.60% Sr: 7.10% |
| HDFC Bank | 6.25% Sr: 6.75% | 6.45% Sr: 6.95% | 6.50% Sr: 7.00% | 6.40% Sr: 6.90% |
| Axis Bank | 6.25% Sr: 6.75% | 6.50% Sr: 7.00% | 6.50% Sr: 7.00% | 6.50% Sr: 7.25% |
| Standard Chartered Bank | 6.60% Sr: 7.10% | 6.50% Sr: 7.00% | 6.50% Sr: 7.00% | 6.25% Sr: 6.75% |
| ICICI Bank | 6.25% Sr: 6.75% | 6.30% Sr: 6.80% | 6.45% Sr: 6.95% | 6.50% Sr: 7.10% |
| Kotak Mahindra Bank | 6.35% Sr: 6.85% | 6.80% Sr: 7.30% | 6.40% Sr: 6.90% | 6.25% Sr: 6.75% |
| IDBI Bank | 6.20% Sr: 6.70% | 6.25% Sr: 6.75% | 6.35% Sr: 6.85% | 6.25% Sr: 6.75% |
| State Bank of India | 6.25% Sr: 6.75% | 6.40% Sr: 6.90% | 6.30% Sr: 6.80% | 6.05% Sr: 7.05% |
| Punjab National Bank | 6.25% Sr: 6.75% | 6.30% Sr: 6.80% | 6.30% Sr: 6.80% | 6.10% Sr: 6.60% |
| Bank of Baroda | 6.25% Sr: 6.75% | 6.25% Sr: 6.75% | 6.25% Sr: 6.75% | 6.30% Sr: 6.90% |
| Canara Bank | 6.25% Sr: 6.75% | 6.25% Sr: 6.75% | 6.25% Sr: 6.75% | 6.25% Sr: 6.75% |
| South Indian Bank | 6.25% Sr: 6.75% | 5.85% Sr: 6.35% | 6.20% Sr: 6.70% | 5.70% Sr: 6.20% |
| Karnataka Bank | 6.50% Sr: 6.90% | 6.40% Sr: 6.80% | 6.15% Sr: 6.55% | 6.15% Sr: 6.55% |
| Indian Bank | 6.10% Sr: 6.60% | 6.20% Sr: 6.70% | 6.15% Sr: 6.65% | 6.00% Sr: 6.50% |
| Union Bank of India | 6.20% Sr: 6.70% | 6.15% Sr: 6.65% | 6.10% Sr: 6.60% | 6.00% Sr: 6.50% |
| Indian Overseas Bank | 6.50% Sr: 7.00% | 6.40% Sr: 6.90% | 6.10% Sr: 6.60% | 6.10% Sr: 6.60% |
| Central Bank of India | 6.20% Sr: 6.70% | 6.25% Sr: 6.75% | 6.00% Sr: 6.50% | 6.00% Sr: 6.50% |
| Bank of Maharashtra | 6.20% Sr: 6.70% | 6.15% Sr: 6.60% | 5.25% Sr: 5.75% | 5.00% Sr: 5.50% |
Rate that applies to a deposit of exactly that tenure on each bank’s current card. Sorted by 3-year rate. “—” means the bank’s published card has no slab covering that tenure; check with the bank.
Special-tenure FDs
Many banks put their best rate on an unusual tenure. These special buckets can be withdrawn early like any FD, but check whether they are available only for a limited period.
| Bank | Scheme | Tenure | General | Senior |
|---|---|---|---|---|
| Tamilnad Mercantile Bank | TMB456 | 456 days | 7.10% | 7.50% |
| IDFC FIRST Bank | Green Deposit | 375 days | 7.00% | 7.25% |
| Bank of Baroda | bob Golden Goal | 555 days | 6.75% | 7.25% |
| Federal Bank | 36 Months | 36 months | 6.75% | 7.25% |
| Federal Bank | 15 Months | 15 months | 6.70% | 7.20% |
| Karnataka Bank | 555 Days | 555 days | 6.65% | 7.05% |
| Indian Bank | Ind Grow | 555 days | 6.65% | 7.15% |
| Canara Bank | 555 Days | 555 days | 6.60% | 7.10% |
| Indian Bank | Ind Prosper | 777 days | 6.60% | 7.10% |
| Indian Overseas Bank | 444 Days | 444 days | 6.60% | 7.10% |
| Bank of Maharashtra | 400 Days | 400 days | 6.55% | 7.05% |
| Canara Bank | 444 Days | 444 days | 6.50% | 7.00% |
| Indian Overseas Bank | Green Deposit | 999 days | 6.50% | — |
| State Bank of India | Amrit Vrishti | 444 days | 6.45% | 6.95% |
| HDFC Bank | Special FD | 33 months | 6.45% | 6.95% |
| Bank of Baroda | bob Square Drive | 444 days | 6.45% | 6.95% |
| HDFC Bank | Special FD | 55 months | 6.40% | 6.90% |
| Indian Bank | Ind Green | 500 days | 6.40% | 6.90% |
| IDBI Bank | Vasundhara Green Deposit | 1111 days | 6.35% | 6.85% |
| Central Bank of India | 444 Days | 444 days | 6.30% | 6.80% |
| Central Bank of India | 555 Days | 555 days | 6.30% | 6.80% |
| Axis Bank | 444 Days FD | 444 days | 6.25% | 6.75% |
| Central Bank of India | 1111 Days | 1111 days | 6.25% | 6.75% |
| Indian Bank | IND Supreme 2.0 | 300 days | 6.20% | 6.70% |
| Bank of Maharashtra | Green Deposit | 1777 days | 6.05% | 6.55% |
| South Indian Bank | Green Deposit | 66 months | 6.00% | 6.50% |
FD calculator
Choose a bank to load its best rate, or enter any rate. Uses the bank method: quarterly compounding (simple interest below 6 months).
More: Monthly interest · FD ladder · Post-tax return · Cumulative vs payout
Types of fixed deposits
Features & benefits of fixed deposits
The rate is fixed on the booking date and does not change even if the bank cuts rates later.
Pick any tenure — from a week to a decade — to match your goal.
Cumulative for growth, or monthly/quarterly interest for regular income.
DICGC covers principal + interest per depositor per bank.
Borrow up to ~90% at FD rate + 1–2% without breaking the deposit.
Usually +0.50% for 60+, plus a ₹1 lakh TDS threshold.
Senior citizen FD rates
| Bank | Highest senior rate | Tenure | 1 year (senior) | 5 years (senior) | Extra over general (at best tenure) |
|---|---|---|---|---|---|
| Bandhan Bank | 7.95% | 2 – <3 years | 7.50% | 6.60% | 0.50% |
| YES Bank | 7.75% | 18 months 1 day – <24 months / 3 – 5 years | 7.15% | 7.75% | 0.50% |
| RBL Bank | 7.70% | 18 – 36 months | 7.50% | 7.50% | 0.50% |
| IDFC FIRST Bank | 7.50% | 500 days – 3 years | 6.75% | 7.00% | 0.25% |
| IndusInd Bank | 7.50% | 1 year 6 months – <1 year 7 months | 7.25% | 7.15% | 0.50% |
| Tamilnad Mercantile Bank | 7.50% | 456 days | 7.30% | 7.10% | 0.40% |
| Bank of India | 7.45% | 3 years | 7.00% | 6.75% | 0.75% |
| Kotak Mahindra Bank | 7.30% | 2 – <3 years | 6.85% | 6.75% | 0.50% |
| South Indian Bank | 7.30% | 30 months | 6.75% | 6.20% | 0.50% |
| Axis Bank | 7.25% | 5 – 10 years | 6.75% | 7.25% | 0.75% |
| Bank of Baroda | 7.25% | 555 days (bob Golden Goal) | 6.75% | 6.90% | 0.50% |
| Federal Bank | 7.25% | 36 months | 6.75% | 6.90% | 0.50% |
| Indian Bank | 7.15% | 555 days (Ind Grow) | 6.60% | 6.50% | 0.50% |
| Canara Bank | 7.10% | 555 days | 6.75% | 6.75% | 0.50% |
| ICICI Bank | 7.10% | 3 years 1 day – 5 years | 6.75% | 7.10% | 0.60% |
| Indian Overseas Bank | 7.10% | 444 days | 7.00% | 6.60% | 0.50% |
| Punjab National Bank | 7.10% | 444 days | 6.75% | 6.60% | 0.50% |
| Standard Chartered Bank | 7.10% | 1 year – 376 days | 7.10% | 6.75% | 0.50% |
| Bank of Maharashtra | 7.05% | 400 days | 6.70% | 5.50% | 0.50% |
| Karnataka Bank | 7.05% | 555 days | 6.90% | 6.55% | 0.40% |
| State Bank of India | 7.05% | 5 – 10 years | 6.75% | 7.05% | 0.60% |
| Union Bank of India | 7.05% | 555 days | 6.70% | 6.50% | 0.50% |
| HDFC Bank | 7.00% | 3 years – 4 years 7 months | 6.75% | 6.90% | 0.50% |
| IDBI Bank | 7.00% | >2 – <3 years | 6.70% | 6.75% | 0.50% |
| Central Bank of India | 6.80% | 444 / 555 days | 6.70% | 6.50% | 0.50% |
SBI’s 5–10 year senior rate includes the WeCare premium. Some banks pay super seniors (80+) more — see the bank’s page.
Tax on FD interest & TDS
| Point | Rule |
|---|---|
| Tax treatment | Interest is taxed at your slab rate every year (accrual basis for cumulative FDs) |
| TDS | 10% when interest from one bank crosses ₹50,000 a year (₹1 lakh for seniors); 20% without PAN |
| Avoiding TDS | Form 121 from 1 April 2026 (replaced Form 15G/15H) if tax on your total income is nil |
| Tax-saver FD | 5-year lock-in; deduction up to ₹1.5 lakh under 80C / Sec 123 — old regime only |
| Senior deduction | Up to ₹50,000 on deposit interest under 80TTB — old regime only |
| NRE / FCNR FD | Interest tax-free in India while you are a non-resident |
What 7% really earns after tax
| FD rate | 0% slab | 5% | 10% | 20% | 30% |
|---|---|---|---|---|---|
| 6.50% | 6.66% | 6.31% | 5.97% | 5.27% | 4.58% |
| 7.00% | 7.19% | 6.81% | 6.44% | 5.69% | 4.94% |
| 7.50% | 7.71% | 7.31% | 6.91% | 6.11% | 5.31% |
Effective annual yield after tax at slab rate plus 4% cess. Compare with inflation (CPI) to judge the real return.
Important FD rules
| Rule | Details |
|---|---|
| Premature withdrawal | Rate for period held minus 0.5%–1% penalty; no interest within 7 days; not allowed on tax-saver FDs |
| Loan / overdraft | Up to 75%–95% of deposit at FD rate + 1%–2% |
| Nomination | Up to 4 nominees, simultaneous or successive (since 1 Nov 2025) |
| Maturity & renewal | Auto-renewal at prevailing rate; unclaimed matured FDs earn the lower of savings rate and contracted rate; unclaimed for 10 years → RBI DEA Fund |
| Deposit insurance | ₹5 lakh per depositor per bank (principal + interest) |
| Non-callable FD | No premature withdrawal; allowed for ₹1 crore and above; may pay slightly more |
How to open an FD
- Compare ratesFind the bank paying the most for your tenure (table above) and check it is DICGC-insured.
- Choose type & payoutCumulative for growth, monthly/quarterly payout for income, or tax-saver for 80C (old regime).
- Book online or at a branchNet banking / app → Deposits → Open FD; new customers can use video KYC.
- Add nominees and maturity instructionUp to 4 nominees; choose auto-renewal or credit to account.
- Keep recordsSave the FD advice; submit Form 121 in April if your tax liability is nil.
Documents
- PAN (or Form 60)
- Aadhaar / passport / voter ID / driving licence for identity and address
- Photograph; age proof for senior citizen rates
FD vs other safe investments
| Option | Return | Tenure | Safety | Tax |
|---|---|---|---|---|
| Bank FD | ≈6.0% – 7.45% (general) | 7 days – 10 years | DICGC ₹5 lakh | Slab rate |
| Recurring deposit | Same as FD at most banks | 6 months – 10 years | DICGC ₹5 lakh | Slab rate |
| Post Office TD | 6.9% – 7.5% | 1, 2, 3, 5 years | Sovereign | Slab; 5-yr gets 80C |
| SCSS | 8.2% | 5 years | Sovereign | Slab; 80C |
| PPF | 7.1% | 15 years | Sovereign | Tax-free (EEE) |
| Corporate FD | Higher than banks | 1 – 5 years | Credit rating only | Slab rate |
| Debt mutual funds | Market-linked | Any | Not guaranteed | Slab rate |
FD guides, rules & calculators
FD rates & comparisons
Bank-wise and tenure-wise interest rates
Types of fixed deposits
Pick the variant that fits your need
FD calculators
Maturity, payouts, ladders and post-tax returns
Rules, safety & services
Withdrawal, loans, nomination, renewal, insurance
Tax on fixed deposits
TDS, Form 121 (15G/15H) and how interest is taxed
Bank-wise FD rates
Full tenure-wise rate card, calculator and rules for each bank
Frequently asked questions
What is a fixed deposit?
A fixed deposit (FD) is a sum you place with a bank for a fixed period — 7 days to 10 years — at an interest rate that is locked for the whole tenure. You get the principal plus interest at maturity, or regular interest payouts if you choose.
Which bank gives the highest FD interest rate?
Among the 25 banks tracked here, Bandhan Bank currently pays the most to regular depositors — 7.45% for 2 – <3 years. For senior citizens the highest is 7.95% at Bandhan Bank.
What are the big banks paying?
SBI pays up to 6.45%, HDFC Bank and ICICI Bank up to 6.50%, and Bank of Baroda up to 6.75% (555-day special). Senior citizens get about 0.50% more.
How is FD interest calculated?
Banks compound interest quarterly on cumulative FDs of 6 months or more: A = P × (1 + r/400)^(4 × years). Deposits shorter than 6 months earn simple interest. At 7% the effective yield is about 7.19% a year.
Is FD interest taxable?
Yes. It is added to your income and taxed at your slab rate. Banks deduct 10% TDS when interest from one bank exceeds ₹50,000 in a year (₹1 lakh for seniors). Submit Form 121 (earlier 15G/15H) if your tax is nil.
Can I withdraw my FD before maturity?
Yes, except tax-saver FDs. The bank pays the rate for the period actually held minus a penalty of about 0.5%–1%. A loan against the FD is often cheaper for short-term needs.
Are FDs safe?
Bank FDs are covered by DICGC deposit insurance up to ₹5 lakh per depositor per bank, including interest. Larger sums can be spread across banks.
Should I choose a longer FD to get a better rate?
Not necessarily. Many banks today pay less for 5–10 years than for 1–3 years. Compare the rate in each tenure bucket and consider an FD ladder.
What happened to FD rates in 2025–26?
The RBI cut the repo rate from 6.50% to 5.25% during 2025 and held it at 5.25% in August 2026. Banks lowered FD rates by roughly 0.5%–1% over this period.
Rates are compiled from banks’ published rate cards (effective dates shown) for deposits below ₹3 crore, for information and comparison only. Banks revise rates frequently — confirm with the bank before investing. FinancePortal is not a financial adviser.