Fixed deposit (FD) interest rates in October 2026 vary across banks and deposit tenures. According to Paisabazaar data on October 21, Bank of India offers the highest maximum interest rate among the 10 major banks compared in this article, at 6.85% per annum on a 999-day deposit.
Bank of Baroda offers a maximum rate of 6.75%, while Kotak Mahindra Bank offers up to 6.65%. Punjab National Bank and Canara Bank offer maximum rates of 6.60% each.
Here is a comparison of FD interest rates at 10 major public and private sector banks, including rates for one-year, three-year, five-year and 10-year deposits.
State Bank of India FD Interest Rates
State Bank of India (SBI) offers a maximum FD interest rate of 6.45% per annum on its 444-day Amrit Vrishti deposit scheme.
For deposits with specific tenures, SBI offers 6.25% for one-year deposits, 6.30% for three-year deposits, 6.05% for five-year deposits and 6.05% for 10-year deposits.
HDFC Bank FD Interest Rates
HDFC Bank offers a maximum FD interest rate of 6.50% per annum for deposits with tenures ranging from three years and one day to less than four years and seven months.
The bank offers 6.25% for one-year deposits, 6.45% for three-year deposits, 6.40% for five-year deposits and 6.15% for 10-year deposits.
ICICI Bank FD Interest Rates
ICICI Bank offers a maximum FD interest rate of 6.50% per annum for deposits with tenures ranging from three years and one day to 10 years.
For specific tenures, the bank offers 6.25% for one-year deposits, 6.45% for three-year deposits, 6.50% for five-year deposits and 6.50% for 10-year deposits.
Punjab National Bank FD Interest Rates
Punjab National Bank (PNB) offers a maximum FD interest rate of 6.60% per annum on a 444-day deposit.
The bank offers 6.25% for one-year deposits, 6.30% for three-year deposits, 6.35% for five-year deposits and 6.00% for 10-year deposits.
Bank of Baroda FD Interest Rates
Bank of Baroda offers a maximum FD interest rate of 6.75% per annum on its 555-day BoB Golden Goal Deposit Scheme.
For deposits with specific tenures, the bank offers 6.25% for one-year deposits, 6.25% for three-year deposits, 6.30% for five-year deposits and 6.00% for 10-year deposits.
Axis Bank FD Interest Rates
Axis Bank offers a maximum FD interest rate of 6.50% per annum for deposit tenures ranging from 18 months to 10 years.
The bank offers 6.25% for one-year deposits, 6.50% for three-year deposits, 6.50% for five-year deposits and 6.50% for 10-year deposits.
Bank of India FD Interest Rates
Bank of India offers a maximum FD interest rate of 6.85% per annum on a 999-day deposit, the highest maximum rate among the 10 major banks compared in this article.
The bank offers 6.50% for one-year deposits, 6.70% for three-year deposits, 6.00% for five-year deposits and 6.00% for 10-year deposits.
Canara Bank FD Interest Rates
Canara Bank offers a maximum FD interest rate of 6.60% per annum on a 555-day deposit.
For deposits with specific tenures, the bank offers 6.25% for one-year deposits, 6.25% for three-year deposits, 6.25% for five-year deposits and 6.25% for 10-year deposits.
Kotak Mahindra Bank FD Interest Rates
Kotak Mahindra Bank offers a maximum FD interest rate of 6.65% per annum for deposits with tenures ranging from two years to less than three years.
The bank offers 6.35% for one-year deposits, 6.40% for three-year deposits, 6.25% for five-year deposits and 6.25% for 10-year deposits.
Union Bank of India FD Interest Rates
Union Bank of India offers a maximum FD interest rate of 6.55% per annum on a 555-day deposit.
The bank offers 6.20% for one-year deposits, 6.10% for three-year deposits, 6.00% for five-year deposits and 6.00% for 10-year deposits.
What should you check before investing in an FD?
Before opening a fixed deposit, compare the interest rate for your chosen tenure rather than looking only at a bank’s highest advertised rate. The maximum rate may apply only to a specific deposit period or scheme.
Check the premature withdrawal rules, applicable penalties, interest payout options and tax implications. Depositors should also review the applicable deposit insurance provisions and confirm the latest rates on the bank’s official website before booking an FD.
Read More: Senior citizen FD rates in October 2026: Which bank offers the highest interest?