Fixed deposits are a safe and reliable investment tool for conservative investors to earn consistent long-term returns. Compared to simply parking your money in a savings account, a fixed deposit or FD, allows you to allocate a lumpsum amount to a financial institution for a fixed period of time and for a fixed rate of interest. FDs also tend to have higher interest rate that a savings account.
FDs are great financial tools when saving for specific goals and can be automated so that the deductions from your ensures a neat, fixed amount put aside each month. At the end of tenure, ranging from 7 days to up to 10 years, you can choose to have the principal and interest deposited into your account or renewed as another FD, if the rates are appealing to you.
However, some research on the options available and prevalent rates is advisable before you in an FD. The best way to do this is compare interest rates offered by different banks.
Overall, most banks tend to offer a higher interest on the mid to longer term deposits, compared to shorter tenures. Generally, the rates also taper off when it comes to deposits that run longer than three years. Additionally, almost all banks give somewhat higher interest to depositors who are senior citizens (above the age of 60) compared to regular investors.
Here’s a look at the latest FD offered by the biggest banks (state and private) in India across tenors.
State Bank of India (SBI)
Highest FD rate at India’s largest public sector lender is for deposit tenure of two years, less than three years at 6.45% for regular public and 6.95% for senior citizens, according to data on the official website at time of writing.
Senior citizens also have the five years and up to 10 years tenure deposit at , which gives them a higher 7.05% returns, compared to 6.05% for regular customers.
Kotak Mahindra Bank
Kotak Mahindra Bank offers the highest interest rate of 7.20% for senior citizens who invest in ranging from the one-year and three-months to one-year and six months period to less than three years.
For regular customers, the lender’s highest interest rate offer is at 6.70% for deposits ranging from the one-year and three-months to one-year and six months period to less than three years FD, according to data on the official website at time of writing.
HDFC Bank
offers the highest interest rate of 6.95% for senior citizens who invest in FDs of tenures ranging from 18 months to three years period.
For regular customers, India’s largest private sector lender’s highest interest rate offer is at 6.50% for deposits for more than three years to less than five years (four years and seven months), according to data on the official website at time of writing.
Yes Bank
The private lender offers the highest interest rate of 7.75% for senior citizens who invest in deposits ranging from three years to more than five years, according to data on the official website at time of writing. It is also the highest rate offered among the biggest banks listed in this article.
Further, for regular customers, ‘s highest interest rate offer is at 7% for deposits ranging from the one-and-a-half year to FD of more than five years.
ICICI Bank
India’s second largest private bank offers the highest interest rate of 7.10% for senior citizens who invest in deposits of three to five years, and the five years , according to data on the official website at time of writing.
For regular customers, ICICI Bank’s highest interest rate offer is at 6.50% for deposits ranging from 3-10 years, and the five years tax saver FD.
(All rates are as mentioned on the respective bank’s official website, at time of writing on 6 April 2026)
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.