Indian banks offer high interest rates on Fixed Deposits

Several Indian banks are offering competitive interest rates on Fixed Deposits (FD), particularly targeting senior citizens. Small Finance Banks (SFBs) are providing higher returns on 5-year deposits compared to major public and private sector banks.

Key offerings for senior citizens on 5-year FDs include Suryoday Small Finance Bank (8.25% to 8.50%), Shivalik Small Finance Bank (8.25% to 8.50%), Jana Small Finance Bank (8.00%), Utkarsh Small Finance Bank (7.75% to 8.00%), and Unity Small Finance Bank (up to 8.50%).

Additionally, Punjab National Bank (PNB) offers a special 666-day FD scheme. For deposits under ₹3 crore, general customers receive 6.50% interest, senior citizens (60+) receive 7%, and super senior citizens (80+) receive 7.30% per annum.