If you’re looking for a safe and steady way to grow your savings, fixed deposits (FDs) continue to be one of the most reliable options.
Many leading banks in India — from government-owned to private lenders — are now offering returns of up to 8%.
Currently, the State Bank of India (SBI) provides FD interest rates between 3% and 7.10% for general customers and 3.50% to 7.60% for senior citizens.
Let’s take a look at how other major banks compare.
Private Banks Offering Competitive FD Rates
HDFC Bank offers interest rates ranging from 3% to 7.25% for general customers and 3.50% to 7.75% for senior citizens.
ICICI Bank provides similar returns, offering 3% to 7.10% for general customers and 3.50% to 7.60% for senior citizens.
IDBI Bank offers 3% to 6.75% for general customers and 3.50% to 7.25% for senior citizens.
Banks Offering Over 8% Interest
If you’re seeking higher returns, some banks stand out.
RBL Bank is offering among the best FD rates — 3.50% to 7.80% for general customers and 4% to 8.30% for senior citizens.
Kotak Mahindra Bank provides 2.75% to 7.20% for general customers and 3.25% to 7.70% for senior citizens.
Canara Bank is also offering strong returns, with 4% to 7.25% for general customers and 4% to 7.75% for senior citizens.
Other top banks include:
Punjab National Bank (PNB): 3.50%–7.25% (general), 4%–7.75% (senior citizens)
Axis Bank: 3.50%–7.10% (general), 3.50%–7.85% (senior citizens)
Bank of Baroda: 3%–7.05% (general), 3.55%–7.55% (senior citizens)
Final Thoughts
Fixed deposits remain a safe and low-risk investment choice, especially for those who prefer stability over market fluctuations. With interest rates reaching up to 8.3%, now might be a good time to lock in your savings and earn steady returns.
