Fixed Deposits are safe and secure investment options for beginners and pros. You can earn attractive interest from banks depending on the amount of money you put in the account.
Let’s find out which banks currently offer the most rewarding fixed deposit schemes for both regular and senior citizens. That will help you decide which bank is best for an FD for you!
A Fixed Deposit, known as an FD in short, is a type of term deposit. You can deposit a sum of money in an FD for a specific period. You earn a cumulative interest on the money throughout the time, and once the tenure ends, you receive your principal + interest as a lump sum.
Here are some salient features of a Fixed Deposit -
Can be opened online as well as offline
You have to invest a huge amount as a lump sum
You can deposit an amount as low as ₹1,000, which varies from bank to bank
Tenures range from 7 days to 10 years
Banks allow automatic renewal of FDs after maturity
Banks also allow you to take loans for up to 90% of the amount in your FD
Option for monthly, quarterly, or cumulative interest payout
Here’s a list of banks offering the highest FD interest rates for the general public and senior citizens:
|
Bank Name |
General Public |
Senior Citizens |
|
State Bank of India (SBI) |
3.05% - 6.45% |
3.55% - 7.05% |
|
3.50% - 6.60% |
4.00% - 7.10% |
|
|
3.25% - 6.50% |
3.25% - 7.00% |
|
|
2.80% - 6.70% |
3.30% - 7.20% |
|
|
3.40% - 6.60% |
3.90% - 7.10% |
|
|
3.00% - 6.70% |
3.50% - 7.20% |
|
|
2.90% - 6.45% |
An additional 0.25% to 0.50%, depending on the tenure |
|
|
2.65% - 6.70% |
3.15% - 7.20% |
|
|
3.00% - 6.70% |
3.50% - 7.20% |
|
|
3.00% - 6.60% |
3.50% - 7.10% |
|
|
3.50% - 6.50% |
4.00% - 7.00% |
|
|
2.75% - 6.60% |
3.25% - 7.10% |
|
|
3.00% - 7.25% |
3.50% - 7.75% |
|
|
3.00% - 6.60% |
3.50% - 7.35% |
|
|
3.00% - 7.00% |
3.50% - 7.50% |
|
|
3.25% - 7.00% |
3.75% - 7.50% |
|
|
3.00% - 6.55% |
3.50% - 7.05% |
|
|
2.75% - 6.60% |
3.25% - 7.29% |
|
|
3.25% - 7.00% |
3.75% - 7.50% |
|
|
2.95% - 7.20% |
3.70% - 7.70% |
|
|
3.00% - 7.00% |
3.00% - 7.00% |
|
|
4.00% - 6.80% |
4.75% - 7.20% |
|
|
2.75% - 6.55% |
2.75% - 7.05% |
|
|
3.00% - 6.70% |
3.50% - 7.20% |
Note: The rates are as of October 2025 and may change anytime. Always check with the respective bank before booking an FD.
The rate of interest is decided by the bank, but it also varies depending on some factors. Some of them are -
The tenure refers to the number of days or years you keep your money in the FD. In the case of an FD, you have to specify while opening the account how long you want the tenure to be.
Generally, medium to long-term tenures attract higher interest rates as compared to shorter tenures.
For opening an FD, you have to invest the whole amount as a whole. Bulk deposits (above ₹2 Crore) may earn slightly better interest rates in some banks.
Your age also plays a role in deciding the interest you will earn. Most banks offer 0.25% to 0.50% higher interest to senior citizens. Thus, if you are above the age of 60, you can get a higher interest rate.
Some banks also give higher rates to super senior citizens above the age of 80.
Private and small finance banks often offer higher rates to attract customers, while public sector banks prioritize safety and stability.
When the RBI repo rate increases, banks tend to raise FD rates too, to stay competitive.
Here are some tips to help you choose a bank for an FD -
Compare FD rates across banks, not just your primary bank
Check for premature withdrawal charges
Confirm if auto-renewal and online closure options are available
If you are a senior citizen, look for extra rate benefits
Choose the right interest payout frequency (monthly, quarterly, or cumulative)
Pro Tip: If you want a steady monthly income, go for an FD with a monthly payout option instead of cumulative returns.
Most banks today allow you to open a Fixed Deposit online through internet banking or their mobile app. All you have to do is follow these steps -
STEP 1: Go to your chosen bank’s website or app. Navigate to the FD section.
STEP 2: Click on ‘Start an FD’ and fill in the necessary details like your nominee, amount, tenure, payout method, etc.
STEP 3: Once you make the payment, your FD will start, and you will start earning interest.
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Fixed deposits are great investment options to meet short or long-term life goals. You can start an FD to save up for a vacation, your wedding, or to buy a gadget. The best part is that you get the principal amount as well as the interest amount as a lump sum at the end of your tenure.
Your money does not dapple in the market when you invest in FDs, which makes it a safe option. You get the interest that is promised to you while opening the account.
However, note that FDs are not tax-saving investment options. You have to pay taxes according to your tax-slab on the interest you earn.
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Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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