If you are planning to invest your money in a fixed deposit, it is important to check the latest interest rates before booking an FD.
HDFC Bank and Federal Bank have revised their FD rates in August 2026.
Both banks offer higher interest rates to senior citizens, but the maximum rate and eligible tenure are different.
For senior citizens, Federal Bank is currently offering the highest rate of 7.20%, while HDFC Bank offers up to 7.10%.
HDFC Bank FD: Senior Citizens Get Up to 7.10%
HDFC Bank revised its FD rates for senior citizens on August 19, 2026, for deposits below ₹3 crore.
The bank increased the rate by 10 basis points on one specific tenure.
Senior citizens can now earn 7.10% interest on FDs with a tenure of 3 years 1 day to less than 4 years 7 months.
For other tenures, HDFC Bank’s senior citizen FD rates range from 3.25% to 7.10%.
Regular customers have not received a rate change.
Their FD rates range from 2.75% to 6.50%, with the highest rate of 6.50% available on deposits for 3 years 1 day to less than 4 years 7 months.
Federal Bank Offers Up to 7.20% to Senior Citizens
Federal Bank revised its FD interest rates from August 17, 2026, for deposits below ₹3 crore.
Senior citizens can earn interest ranging from 3.50% to 7.20%, depending on the FD tenure.
The highest rate of 7.20% is available on a 48-month FD.
For regular customers, Federal Bank offers FD rates ranging from 3% to 6.70%.
The maximum rate of 6.70% is also available on a 48-month deposit.
Which Bank Offers the Higher FD Rate?
When it comes to the maximum interest rate, Federal Bank is ahead of HDFC Bank.
Federal Bank offers up to 7.20% to senior citizens, compared with HDFC Bank’s maximum of 7.10%.
For regular customers too, Federal Bank’s maximum rate of 6.70% is higher than HDFC Bank’s 6.50%.
However, the highest rates are available for different periods.
HDFC Bank offers 7.10% for a tenure of 3 years 1 day to less than 4 years 7 months, while Federal Bank offers 7.20% on a 48-month FD.
Check These Things Before Booking an FD
The highest interest rate alone should not be the only factor when choosing an FD.
Depositors should check the FD tenure, interest payout option and premature withdrawal rules before investing.
Interest rates can also vary depending on the deposit amount and tenure. Therefore, investors should check the applicable terms before opening the FD.
