Federal Bank has increased the additional interest rate benefit offered to senior citizens on term deposits from 0.50% to 0.60%. Following the revision, senior citizens can earn up to 7.50% per annum on select fixed deposit (FD) tenures.
The revised interest rates came into effect on November 12, 2026. The change applies to deposit tenures of 18 months and two years to less than three years. The revised rates are applicable to single term deposits below ₹3 crore.
For deposits with a premature withdrawal facility, senior citizens can earn up to 7.40% per annum. The rate goes up to 7.50% for deposits of ₹1 crore and above without a premature withdrawal facility.
Here is a look at the revised Federal Bank FD rates for senior citizens and general depositors, along with the latest rates offered by other banks.
Federal Bank FD rates for senior citizens
Federal Bank is offering an interest rate of 7.40% per annum to senior citizens on term deposits with a premature withdrawal facility. For a 35-month deposit, this translates into an effective annualised yield of up to 8.18%, according to the bank.
For term deposits of ₹1 crore and above without a premature withdrawal facility, senior citizens can earn 7.50% per annum. The effective annualised yield can go up to 8.30% for a 35-month tenure.
The revised benefit follows the bank’s decision to increase the additional interest offered to senior citizens from 0.50% to 0.60%. The rates apply to the specified tenures and eligible deposits below ₹3 crore.
Federal Bank FD rates for general public
For the same deposit tenures, general customers, including non-resident Indians (NRIs), can earn 6.80% per annum on term deposits with a premature withdrawal facility.
For deposits without a premature withdrawal facility, the bank is offering an interest rate of 6.90% per annum.
The revised rates are effective from November 12, 2026, and apply to single term deposits below ₹3 crore.
Customers can book these term deposits through Federal Bank branches or the bank’s digital channels.
Which other banks have revised FD rates?
Several banks have revised their fixed deposit interest rates in recent weeks. Here is a look at the latest rates offered by some lenders to senior citizens and general depositors.
HDFC Bank FD rates
HDFC Bank revised its retail FD interest rates with effect from November 4, 2026. General depositors can earn up to 6.60% per annum, while senior citizens can earn up to 7.20% on select deposit tenures.
ICICI Bank FD rates
ICICI Bank revised interest rates on select fixed deposits below ₹3 crore in October 2026. General depositors can earn up to 6.60% per annum, while senior citizens can get up to 7.20% on eligible deposits.
The bank increased rates by 10 basis points on select longer-term deposits. The revised rates apply to deposits with tenures of two years and one day to 10 years, as well as the five-year Tax Saver FD.
Kotak Mahindra Bank FD rates
Kotak Mahindra Bank revised its FD rates on select tenures from November 4, 2026. General depositors can earn up to 6.80%, while senior citizens can get up to 7.55% per annum.
Axis Bank FD rates
Axis Bank revised its FD rates on select tenures with effect from October 29, 2026. General depositors can earn up to 6.60%, while senior citizens can get up to 7.35%.
Suryoday Small Finance Bank FD rates
Suryoday Small Finance Bank revised its FD rates from October 30, 2026. General depositors can earn up to 8.25%, while senior citizens can get up to 8.60% on select tenures.
Utkarsh Small Finance Bank FD rates
Utkarsh Small Finance Bank revised its FD rates with effect from November 1, 2026. General depositors can earn up to 8.10%, while senior citizens can get up to 8.50% on select tenures.
What should you check before investing in an FD?
Before opening a fixed deposit, customers should compare interest rates across different tenures and check whether a quoted rate applies to a regular FD or a special-tenure scheme. They should also review premature withdrawal penalties, interest payout options and applicable tax rules.
FD rates vary by tenure and customer category. Depositors should check the latest rates and terms on the bank’s official website before investing.
Read More: HDFC Bank hikes FD interest rates: Check latest rates for senior citizens, general public