Scheduled Banks offering highest FD interest rates – 6.50% p.a. and above

Amongst all bank categories, small finance banks are offering the best FD interest rates. Within the scheduled small finance bank category, Unity Small Finance Bank and North East Small Finance Bank offer the highest FD interest rate of 9.00% p.a. Among scheduled private sector banks, SBM Bank offers the best FD interest rates of up to 8.25% p.a. for tenure of above 18 months to less than 2 years and 3 days. Among scheduled public sector banks, the Central Bank of India offers the highest fixed deposit interest rates of up to 7.50% p.a. on a tenure of 1111 days.

Senior citizens (of age 60 years and above) can earn fixed deposit rates of up to 9.50% p.a. on tenures ranging from 1 year to 10 years. Banks usually offer an additional FD interest rate of 50-80 bps over the regular fixed deposit rates to senior citizens. Some banks also offer additional interest rates of 20-30 bps, over and above the additional senior citizen FD rates under special FD schemes.  Additionally, most banks offer preferential interest rates to super senior citizens aged 80 years and above. For instance, RBL Bank, Indian Overseas Bank, Union Bank of India, Indian Bank and Punjab National Bank offer an additional 75-80 bps over and above the regular FD rates to super senior citizens. Listed below are the best cumulative FD schemes in terms of interest rates.

Top 20 Scheduled Banks offering Best FD Rates 

The rates are updated as of 16 January 2025

Unity Small Finance Bank

Unity Small Finance Bank FD rates are in the range of 4.50-9.00% p.a. for the general public. Senior citizens’ FD rates range from 4.50-9.50% p.a. The bank offers FD tenures from 7 days to 10 years.

Highest slab rate	9.00% p.a. (for 1001 days)
For 1 year	7.85% p.a.
For 2 years	7.90% p.a.
For 3 years	8.15% p.a.
For 4 years	8.15% p.a.
For 5 years	8.15% p.a.

Suggested Read: Comparison of FD Interest Rates Offered by Banks/NBFCs

North East Small Finance Bank

North East Small Finance Bank FD rates are in the range of 3.25-9.00% p.a. for the general public. Senior citizens FD rates range from 3.75-9.50% p.a. The bank offers FD tenures from 7 days to 3650 days.

Highest slab rate	9.00% p.a. (546 days to 1111 days)
For 1 year	7.00% p.a.
For 2 years	9.00% p.a.
For 3 years	9.00% p.a.
For 4 years	8.00% p.a.
For 5 years	6.25% p.a.

Suryoday Small Finance Bank

Suryoday Small Finance Bank FD rates are in the range of 4.00-8.60% p.a. for the general public. Senior citizens FD rates range from 4.50-9.10% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 8.25% p.a. for the general public and 8.50% p.a. for senior citizen depositors.

Highest slab rate	8.60% p.a. (for above 2 years to 3 years)
For 1 year	8.05% p.a.
For 2 years	8.50% p.a.
For 3 years	8.60% p.a.
For 4 years	6.75% p.a.
For 5 years	8.25% p.a.
Tax-Saving FD	8.25% p.a.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank FD rates are in the range of 4.00-8.50% p.a. for the general public. The fixed deposit interest rates for senior citizens range from 4.75-9.10% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 7.50% p.a. for the general public and 8.10% p.a. for senior citizen depositors.

Highest slab rate	8.50% p.a. (for 2 years to 3 years;1500 days)
For 1 year	8.00% p.a.
For 2 years	8.50% p.a.
For 3 years	8.50% p.a.
For 4 years	7.75% p.a.
For 5 years	7.75% p.a.
Tax-Saving FD	7.50% p.a.

Shivalik Small Finance Bank

The FD interest rates of Shivalik Small Finance Bank are in the range of 3.50-8.30% p.a. for the general public. Senior citizens’ FD rates range from 4.00-8.80% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate on Shivalik Small Finance Bank Tax Saving FDs is 6.50% p.a. for the general public and 7.00% p.a. for senior citizen depositors for tenures of 5 years to 10 years.

Highest slab rate	8.30% (18 months to 24 months)
For 1 year	6.00% p.a.
For 2 years	8.30% p.a.
For 3 years	7.50% p.a.
For 4 years	6.50% p.a.
For 5 years	6.50% p.a.
Tax-Saving FD	6.50% p.a.

Jana Small Finance Bank

Jana Small Finance Bank FD rates are in the range of 3.00-8.25% p.a. for the general public. Senior citizens FD rates range from 3.50-8.75% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 8.20% p.a. for the general public and 8.20% p.a. for senior citizen depositors.

Highest slab rate	8.25% p.a. (for 365 days to 3 years)
For 1 year	8.25% p.a.
For 2 years	8.25% p.a.
For 3 years	8.25% p.a.
For 4 years	7.25% p.a.
For 5 years	8.20% p.a.
Tax-Saving FD	8.20% p.a.

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank FD rates are in the range of 3.75-8.25% p.a. for the general public. Senior citizens FD rates range from 4.25-8.75% p.a. The bank offers FD tenures from 7 days to 10 years.  The interest rate for Tax Saving FDs is 7.20% p.a. for the general public and 7.70% p.a. for senior citizen depositors.

Highest slab rate	8.25% p.a. (for 1 year)
For 1 year	8.25% p.a.
For 2 years	7.75% p.a.
For 3 years	7.20% p.a.
For 4 years	7.20% p.a.
For 5 years	7.20% p.a.
Tax-Saving FD	7.20% p.a.

ESAF Small Finance Bank

ESAF FD interest rates are in the range of 4.00-8.25% p.a. for the general public. The fixed deposit interest rates for senior citizens range from 4.50-8.75% p.a. The bank offers FD tenures from 7 days to 10 years.

Highest slab rate	8.25% p.a. (for 2 years to less than 3 years)
For 1 year	6.00% p.a.
For 2 years	8.25% p.a.
For 3 years	6.75% p.a.
For 4 years	6.75% p.a.
For 5 years	6.25% p.a.

Equitas Small Finance Bank

Equitas Bank FD rates are in the range of 3.50-8.25% p.a. for the general public. Senior citizens fixed deposit rates range from 4.00-9.00% p.a. FD tenures range from 7 days to 10 years.

Highest slab rate	8.25% (for 888 days)
For 1 year	8.10% p.a.
For 2 years	7.75% p.a.
For 3 years	8.00% p.a.
For 4 years	7.50% p.a.
For 5 years	7.25% p.a.

SBM Bank

SBM Bank FD rates are in the range of 4.25-8.25% p.a. for the general public. Senior citizens FD rates range from 4.75-8.75% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 7.75% p.a. for the general public and 8.25% p.a. for senior citizen depositors.

Highest slab rate	8.25% (for above 18 months to less than 2 years and 3 days)
For 1 year	7.05% p.a.
For 2 years	8.25% p.a.
For 3 years	7.30% p.a.
For 4 years	7.40% p.a.
For 5 years	7.75% p.a.
Tax-Saving FD	7.75% p.a.

DCB Bank

DCB Bank FD rates are in the range of 3.75-8.05% p.a. to the general public and 4.25-8.55% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on DCB Bank Tax Saving FDs is 7.40% p.a. for the general public and 7.90% p.a. for senior citizen depositors for tenures of 5 years.

Highest slab rate	8.05% p.a. (for 19 months to 20 months)
For 1 year	7.10% p.a.
For 2 years	7.50% p.a.
For 3 years	7.55% p.a.
For 4 years	7.40% p.a.
For 5 years	7.40% p.a.
Tax-Saving FD	7.40% p.a.

Bandhan Bank

The FD rates of Bandhan Bank are in the range of 3.00-8.05% p.a. to the general public and 3.75-8.55% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Bandhan Bank Tax Saving FDs is 7.00% p.a. for the general public and 7.50% p.a. for senior citizen depositors for tenures of 5 years to 10 years.

Highest slab rate	8.05% p.a. (for 1 year)
For 1 year	8.05% p.a.
For 2 years	7.25% p.a.
For 3 years	7.25% p.a.
For 4 years	7.25% p.a.
For 5 years	5.85% p.a.
Tax-Saving FD	7.00% p.a.

RBL Bank

RBL Bank FD rates are in the range of 3.25-8.00% p.a. to the general public and 3.75- 8.50% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on RBL Bank Tax Saving FDs is 7.10% p.a. for the general public and 7.60% p.a. for senior citizen depositors for a tenure of 5 years. The bank offers additional interest rates of 0.75% p.a. on regular FD rates to super senior citizens aged 80 years and above.

Highest slab rate	8.00% p.a. (for 500 days)
For 1 year	7.50% p.a.
For 2 years	7.80% p.a.
For 3 years	7.50% p.a.
For 4 years	7.10% p.a.
For 5 years	7.10% p.a.
Tax-Saving FD	7.10% p.a.

AU Small Finance Bank

AU Small Finance Bank FD rates are in the range of 3.75-8.00% p.a. for the general public. Senior citizens FD interest rates range from 4.25-8.50% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate on AU Small Finance Bank Tax Saving FDs is 7.25% p.a. for the general public and 7.75% p.a. for senior citizen depositors for tenures of 5 years.

Highest slab rate	8.00% p.a. (18 months)
For 1 year	7.25% p.a.
For 2 years	7.75% p.a.
For 3 years	7.50% p.a.
For 4 years	7.25% p.a.
For 5 years	7.25% p.a.
Tax-Saving FD	7.25% p.a.

IndusInd Bank

IndusInd Bank FD rates are in the range of 3.50-7.99% p.a. for the general public. Senior citizens FD rates range from 4.25-8.49% p.a. The bank offers FD tenures from 7 days to 61 months and above. The interest rate for Tax Saving FDs is 7.25% p.a. for the general public and 7.75% p.a. for senior citizen depositors.

Highest slab rate	7.99% p.a. (1 year 5 months to less than 1 year 6 months)
For 1 year	7.75% p.a.
For 2 years	7.75% p.a.
For 3 years	7.25% p.a.
For 4 years	7.25% p.a.
For 5 years	7.25% p.a.
Tax-Saving FD	7.25% p.a.

IDFC FIRST Bank

IDFC Bank FD rates are in the range of 3.50-7.90% p.a. for the general public. Senior citizens Fixed Deposit rates range from 4.00-8.40% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate for Tax Saving FDs is 6.75% p.a. for the general public and 7.25% p.a. for senior citizen depositors.

Highest slab rate	7.90% (for 400 days to 500 days)
For 1 year	6.50% p.a.
For 2 years	7.25% p.a.
For 3 years	6.80% p.a.
For 4 years	6.75% p.a.
For 5 years	6.75% p.a.
Tax-Saving FD	6.75% p.a.

YES Bank

YES Bank FD rates are in the range of 3.25-7.75% p.a. for the general public. Senior citizens fixed deposit rates range from 3.75-8.25% p.a. The bank offers FD tenures from 7 days to 10 years. The bank also offers floating rate fixed deposits of an interest rate ranging from 7.60%-8.10% p.a. for tenures 1 year to less than 3 years. The interest rates of floating rate FDs is linked with the prevailing repo rate.

Highest slab rate	7.75% p.a. (for 18 months to less than 24 months)
For 1 year	7.25% p.a.
For 2 years	7.25% p.a.
For 3 years	7.25% p.a.
For 4 years	7.25% p.a.
For 5 years	7.25% p.a.
Tax-Saving FD	7.25% p.a.

Central Bank of India

Central Bank of India FD rates are in the range of 3.50-7.50% p.a. to the general public and 4.00-8.00% p.a. to senior citizens on tenures ranging from 7 days to 5 years and above. The interest rate on Central Bank Tax Saving FD is 6.75% p.a. for the general public and 7.25% p.a. for senior citizens for tenures of 5 years.

Highest slab rate	7.50% (for 1111 days)
For 1 year	6.85% p.a.
For 2 years	7.25% p.a.
For 3 years	7.00% p.a.
For 4 years	7.00% p.a.
For 5 years	6.50% p.a.
Tax-Saving FD	6.75% p.a.

Punjab & Sind Bank

Punjab and Sind FD rates are in the range of 4.00-7.45% p.a. to the general public and 4.00-7.95% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on P&S Tax Saving FDs is 6.00% p.a. for the general public and 6.50% p.a. for senior citizen depositors for tenures of 5 years to 10 years.

Highest slab rate	7.45% p.a. (for 555 days)
For 1 year	6.30% p.a.
For 2 years	6.00% p.a.
For 3 years	6.00% p.a.
For 4 years	6.00% p.a.
For 5 years	6.00% p.a.
Tax-Saving FD	6.00% p.a.

HDFC Bank

HDFC FD rates are in the range of 3.00-7.40% p.a. for the general public. Senior citizens fixed deposit rates range from 3.50-7.90% p.a. The bank offers FD tenures from 7 days to 10 years. The interest rate on HDFC Tax Saving FDs is 7.00% p.a. for the general public and 7.50% p.a. for senior citizen depositors.

Highest slab rate	7.40% p.a. (for 55 months)
For 1 year	6.60% p.a.
For 2 years	7.00% p.a.
For 3 years	7.00% p.a.
For 4 years	7.00% p.a.
For 5 years	7.00% p.a.
Tax-Saving FD	7.00% p.a.

FAQs

Q. Which bank has the highest FD interest rates?

Ans: Unity Small Finance Bank and North East Small Finance Bank offer the highest FD interest rate of 9.00% p.a. for 1001 days and 546 days to 1111 days respectively

Q. Which public sector bank offers the best fixed deposit interest rate?

Ans: Among public sector banks, Central Bank of India offers the highest fixed deposit interest rates of 7.50% p.a. for 1111 days.

Q. Which private sector bank has the best FD rates?

Ans: DCB Bank and Bandhan Bank offer the highest FD rate of 8.05% p.a. among private sector banks.

Q. Which small finance bank offers the best FD interest rate?

Ans: Unity Small Finance Bank and North East Small Finance Bank offer the highest fixed deposit rate, at 9.00% p.a.

Q. Which bank offers an FD interest rate of 8% and above?

Ans: Unity Small Finance Bank, Shivalik Small Finance Bank, Suryoday Small Finance Bank, Equitas Small Finance Bank, Jana Small Finance Bank, ESAF Small Finance Bank, Utkarsh Small Finance Bank, Ujjivan Small Finance Bank, AU Small Finance Bank, SBM Bank, DCB Bank, RBL Bank and YES Bank offers FD interest of 8% p.a. and above

Q: Which bank offers the highest FD interest rate for 1-year tenure?

Ans: Among the scheduled banks, Jana Small Finance Bank and Ujjivan Small Finance Bank offer the highest FD interest rates for 1-year tenure at 8.25% p.a.

Q. Which bank offers the highest FD interest rate for a 2-year tenure?

Ans: Among the scheduled banks, North East Small Finance Bank offers the highest FD interest rates for a 2-year tenure at 9.00% p.a.

Q. Which bank offers the highest FD interest rate for a 3-year tenure?

Ans: Among the scheduled banks, North East Small Finance Bank offers the highest FD interest rates for a 3-year tenure at 9.00% p.a.

Q. Which bank offers the best FD rate for a 4-year tenure?

Ans: Among the scheduled banks, Unity Small Finance Bank offers the highest FD interest rates for a 4-year tenure at 8.15% p.a.

Q. Which bank offers the best FD rate for a 5-year tenure?

Ans: Among the scheduled banks, Suryoday Small Finance Bank offers the highest FD interest rates for a 5-year tenure at 8.25% p.a.

Q. Is it safe to open fixed deposit with scheduled small finance banks?

Ans: The small finance banks are recognized by the RBI as scheduled banks, which make their depositors eligible for deposit insurance cover of up to Rs 5 lakhs, in case of a bank default. This insurance cover is provided by the DICGC, an RBI subsidiary. It covers cumulative deposits (including fixed deposits, savings accounts, current accounts and recurring deposits) of each depositor of each scheduled bank. Thus, this insurance cover makes it completely safe to open deposits (including FDs) of up to Rs 5 lakh, with small finance banks categorised as scheduled bank.