In India, Fixed Deposits (FDs) continue to be one of the most popular and trusted investment options. Known for their safety, stability, and guaranteed returns, FDs are ideal for investors seeking low-risk instruments with assured income. They are offered by banks, post offices, small finance banks (SFBs), and non-banking financial companies (NBFCs).

Currently, major Indian banks are offering interest rates ranging from 2.75% to 7.25% for regular customers, and 3.25% to 7.75% for senior citizens. Despite the growing popularity of mutual funds and bonds, FDs remain a preferred choice for traditional investors due to their predictable returns and capital safety.

1. Axis Bank

Axis Bank offers interest rates between 3.00% and 6.60% per annum for deposits up to ₹3 crore.
Senior citizens can earn between 3.50% and 7.35% per annum.
The investment tenure ranges from 7 days to 10 years.

2. HDFC Bank

At HDFC Bank, investors can open FDs for 7 days to 10 years.
Interest rates range between 2.75% and 6.60% per annum.
Senior citizens receive an additional 0.50% across all tenures, providing higher returns on long-term deposits.

3. ICICI Bank

ICICI Bank offers interest rates from 2.75% to 6.60% per annum.
The FD tenure varies between 7 days and 10 years, and senior citizens enjoy higher interest compared to regular customers.

4. IDBI Bank

IDBI Bank provides FD interest rates ranging from 3.00% to 7.05% per annum.
Depositors can choose terms from 7 days up to 20 years, which is longer than most banks.
Senior citizens receive preferential rates, and the bank revises these rates periodically based on market conditions.

5. State Bank of India (SBI)

India’s largest public sector bank, SBI, offers 3.05% to 6.85% per annum for general customers and 3.55% to 7.35% for senior citizens.
The FD tenure ranges from 7 days to 10 years, and the current rates have been effective since July 2025.

6. Punjab National Bank (PNB)

PNB offers interest rates between 3.00% and 6.40% per annum for deposits up to ₹3 crore.
Senior citizens get an additional 0.50% across all FD durations.

7. Central Bank of India

This nationalized bank provides 3.50% to 6.75% per annum on fixed deposits.
The deposit period ranges from 7 days to 10 years, with extra benefits for senior citizens.

8. Bank of Baroda (BoB)

Bank of Baroda’s FD interest rates range between 3.50% and 6.50% per annum.
Senior citizens earn a higher rate on all deposit schemes.
BoB offers three FD variants:

• Capital Gain Account Scheme (1988)

• Long-Term Deposit Scheme

• Short-Term Deposit Scheme

Key Highlights

• Regular FD rates: 2.75% – 7.25%

• Senior citizen FD rates: 3.25% – 7.75%

• Tenure flexibility: 7 days to 20 years, depending on the bank

• All major banks now offer online FD booking and auto-renewal options for convenience

• Interest can be received monthly, quarterly, or at maturity, depending on the depositor’s preference

Why FDs Still Remain Popular

Despite the rise of digital investments, FDs continue to dominate due to their zero market risk, guaranteed capital protection, and fixed income returns. They are particularly suitable for retirees, conservative investors, and those seeking short-term liquidity with assured safety.

Whether you’re a young professional or a senior citizen, comparing FD rates across banks can help maximize your returns while keeping your investment secure.