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4 clusters · 6 sources · 25 days · First seen · Last updated

Indian bank and government fixed deposit interest rates

Overview

Indian banking institutions continue to offer diverse fixed deposit schemes, with significant variations between small finance banks and major public sector lenders.

Small finance banks remain competitive for senior citizens aged 60 and above. Suryoday Small Finance Bank offers the highest rate at 8.05% for five-year tenures on deposits up to Rs 3 crore, followed by Jana Small Finance Bank at 8%. Other notable rates for senior citizens include Ujjivan Small Finance Bank at 7.70%, Equitas Small Finance Bank at 7.50%, and AU Small Finance Bank at 7.25%. Slice Small Finance Bank has also revised its rates following the Reserve Bank of India's Monetary Policy Committee meeting, offering between 3.50% and 7.75% for general citizens, with an additional 0.25% benefit for seniors. The highest Slice returns of 7.75% apply to tenures of 18 to 24 months for deposits under ₹3 crore.

Public sector lenders also utilize special tenures. Canara Bank’s 444-day special FD offers 6.50% for the general public and 7.00% for senior citizens. UCO Bank maintains a 444-day scheme with rates between 6.45% and 6.95%, providing senior citizens a 0.50% premium and offering up to 1.50% higher interest for retired staff.

Beyond banking, the Government of India offers the Senior Citizen Savings Scheme (SCSS) for the 2026 financial year, providing a guaranteed 8.2% per annum for individuals aged 60 and above. The scheme allows a maximum individual investment of ₹30 lakh, with couples able to invest up to ₹60 lakh through separate accounts.

In contrast, State Bank of India (SBI) adjusted its rates for domestic bulk term deposits of ₹3 crore and above effective August 15, 2026, reducing short-term tenure rates by 25 basis points and mid-term rates by 10 basis points.

Entities

Slice Small Finance Bank · Utkarsh Small Finance Bank · Amrit Vrishti scheme · Senior Citizen Savings Scheme · State Bank of India

Timeline

  1. 3 days ago

    [BUSINESS] 3 sources
    India government savings and bank FD rates for seniors

    India's Senior Citizen Savings Scheme offers a guaranteed 8.2% annual interest, while Slice Small Finance Bank has updated its FD rates, offering up to 7.75% for specific tenures.

  2. 6 days ago

    [BUSINESS] 2 sources
    Indian banks offer special tenure fixed deposit schemes

    Canara Bank and Utkarsh Small Finance Bank are offering special tenure fixed deposit schemes in India, with interest rates reaching up to 8.25% for senior citizens on specific durations.

  3. 12 days ago

    [BUSINESS] 3 sources
    Indian banks offer varying fixed deposit rates for senior citizens

    Indian banks are offering varied fixed deposit interest rates for senior citizens, with Suryoday Small Finance Bank leading at 8.05% and UCO Bank providing special schemes for elderly customers.

  4. 27 days ago

    [BUSINESS] 2 sources
    State Bank of India launches 444‑day Amrit Vrishti Fixed Deposit with higher rates

    SBI’s new 444‑day Amrit Vrishti FD offers 6.45%‑7.05% interest, higher than other Indian banks’ one‑year rates, with penalties for early withdrawal and standard tax rules.

Sources

caclubindia.com · dnaindia.com · informalnewz.com · moving.co.nz · news18.com · timesbull.com

This summary has been updated 3 times: see revision history