Senior citizens looking to lock in fixed deposit (FD) returns can earn interest of up to 8.5%, with small finance banks continuing to offer some of the highest rates on deposits.
Interest rates vary across banks and FD tenures. Several private sector, public sector and foreign banks are also offering competitive rates, with rates differing based on the tenure and other terms applicable to the deposit.
For senior citizens, even a small difference in FD interest rates can make a meaningful difference to overall returns, particularly when investing a large amount. Comparing rates across banks and choosing the right tenure can help maximise interest income while keeping the investment relatively low risk.
Senior citizen FD rates by small finance banks
| Bank |
FD interest rate for senior citizens |
| Equitas Small Finance Bank |
Up to 8.50% |
| ESAF Small Finance Bank |
Up to 8.50% |
| Shivalik Small Finance Bank |
Up to 8.50% |
| Suryoday Small Finance Bank |
Up to 8.50% |
| Jana Small Finance Bank |
Up to 8.30% |
| Ujjivan Small Finance Bank |
Up to 8.30% |
| Utkarsh Small Finance Bank |
Up to 8.25% |
| AU Small Finance Bank |
Up to 7.90% |
| Slice Small Finance Bank |
Up to 7.75% |
Senior citizen FD rates by private sector banks
| Bank |
FD interest rate for senior citizens |
| SBM Bank India |
Up to 8.15% |
| DCB Bank |
Up to 8.00% |
| Bandhan Bank |
Up to 7.95% |
| IndusInd Bank |
Up to 7.75% |
| YES Bank |
Up to 7.75% |
| RBL Bank |
Up to 7.70% |
| City Union Bank |
Up to 7.50% |
| IDFC FIRST Bank |
Up to 7.50% |
| Kotak Mahindra Bank |
Up to 7.30% |
| Axis Bank |
Up to 7.20% |
| HDFC Bank |
Up to 7.10% |
| ICICI Bank |
Up to 7.10% |
Senior citizen FD rates by public sector banks
| Bank |
FD interest rate for senior citizens |
| Bank of India |
Up to 7.45% |
| Punjab & Sind Bank |
Up to 7.35% |
| Bank of Baroda |
Up to 7.25% |
| Central Bank of India |
Up to 7.25% |
| Bank of Maharashtra |
Up to 7.15% |
| Indian Bank |
Up to 7.15% |
| Canara Bank |
Up to 7.10% |
| Indian Overseas Bank |
Up to 7.10% |
| Punjab National Bank |
Up to 7.10% |
| State Bank of India |
Up to 7.05% |
| Union Bank of India |
Up to 7.05% |
Senior citizen FD rates by foreign banks
| Bank |
FD interest rate for senior citizens |
| Standard Chartered Bank |
Up to 7.10% |
| Deutsche Bank |
Up to 7.00% |
| HSBC Bank |
Up to 6.00% |
