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Indian bank and government fixed deposit interest rates

Updated 3 times since CLSTR started tracking revisions of this situation.

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2026-08-23 04:19 UTC → 2026-08-26 09:31 UTC · added removed

Indian bank and government fixed deposit interest rates

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%. It is noted that banks must deduct Tax Deducted at Source (TDS) if interest earned exceeds Rs 1 lakh in a financial year. Utkarsh Slice Small Finance Bank has introduced a 666-day special FD scheme also revised its rates following the Reserve Bank of India's Monetary Policy Committee meeting, offering 8.10% between 3.50% and 7.75% for general investors and 8.25% citizens, with an additional 0.25% benefit for senior citizens on 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 to attract depositors. tenures. Canara Bank’s 444-day special FD offers 6.50% for the general public and 7.00% for senior citizens on deposits below ₹3 crore, outperforming its standard 1-year-plus-tenure rates. Similarly, 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) has adjusted its rates for domestic bulk term deposits of ₹3 crore and above. Effective above effective August 15, 2026, interest rates for reducing short-term tenures of 7 to 179 days were reduced tenure rates by 25 basis points, while tenures between 180 points and 210 days saw a mid-term rates by 10 basis point decrease. points.

Versions

  1. 2026-08-26 09:31 UTC Indian bank and government fixed deposit interest rates
  2. 2026-08-23 04:19 UTC Indian bank fixed deposit interest rates
  3. 2026-08-20 07:01 UTC Indian bank fixed deposit interest rates
  4. 2026-08-17 02:38 UTC Indian bank fixed deposit interest rates

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