Bank FD Interest Rates have changed at four major banks in October and November 2026, giving depositors an opportunity to earn higher returns on selected fixed deposit schemes.
Kotak Mahindra Bank, Axis Bank, Utkarsh Small Finance Bank and Suryoday Small Finance Bank have revised their interest rates for different deposit periods.
The biggest highlight is the 8.60% annual interest rate offered by Suryoday Small Finance Bank to senior citizens on a five-year fixed deposit.
Utkarsh Small Finance Bank is offering up to 8.50% to senior citizens on a special 666-day deposit.
These revised rates are particularly relevant for senior citizens looking for regular and relatively predictable returns on their savings.
However, the applicable interest rate depends on the bank, deposit tenure and customer category.
Bank FD Interest Rates: Latest Changes in November 2026
Here is a closer look at the revised fixed deposit rates offered by the four banks.
Kotak Mahindra Bank
Kotak Mahindra Bank revised interest rates on selected fixed deposit tenures from November 4, 2026.
The bank is offering a maximum annual interest rate of 6.80% to general customers on deposits with a tenure of two years to less than three years. Senior citizens can earn up to 7.55% on the same deposit period.
Before the revision, the bank offered maximum rates of 6.75% to general customers and 7.25% to senior citizens.
The latest revision therefore increases the maximum available returns for both categories of depositors.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank revised its FD interest rates from November 1, 2026.
The bank is offering its highest annual interest rate of 8.10% to general customers on a special deposit tenure of 666 days. Senior citizens can earn 8.50% on the same tenure.
The maximum interest rate for senior citizens has increased from the earlier 8.25% to 8.50%. However, the highest rate for regular customers remains unchanged at 8.10%.
This makes the special 666-day deposit an option worth examining for senior citizens who are comfortable locking in their savings for the specified period.
Axis Bank
Axis Bank revised interest rates on selected fixed deposit schemes with effect from October 29, 2026.
General customers can earn a maximum annual interest rate of 6.60% on deposits with tenures ranging from two years to 10 years.
For senior citizens, the highest available rate is 7.35% on deposits with a tenure of five years to 10 years.
Earlier, the bank offered maximum rates of 6.50% to general customers and 7.25% to senior citizens.
The revised rates provide a higher return for customers choosing the eligible deposit periods.
Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering the highest interest rate among the four banks covered in this comparison.
Its revised FD rates came into effect on October 30, 2026. General customers can earn up to 8.25% annually on a five-year fixed deposit.
Senior citizens can earn up to 8.60% on the same five-year deposit tenure.
The 8.60% rate is the highest among the four banks discussed here and may attract senior citizens looking for higher interest earnings over a longer investment period.
Which Bank Offers the Highest FD Interest Rate?
Among these four banks, Suryoday Small Finance Bank offers the highest interest rate of 8.60% to senior citizens on a five-year FD.
Utkarsh Small Finance Bank follows with an interest rate of 8.50% for senior citizens on its 666-day deposit scheme.
Kotak Mahindra Bank offers up to 7.55%, while Axis Bank provides up to 7.35% to senior citizens on their respective eligible deposit tenures.
For general customers, Suryoday Small Finance Bank offers up to 8.25%, followed by Utkarsh Small Finance Bank at 8.10%.
However, investors should not compare interest rates without considering the deposit period. A higher rate may require keeping money invested for a longer or specific period.
What Should Senior Citizens Check Before Opening an FD?
Before investing, depositors should compare the interest rate, maturity period and premature withdrawal conditions.
The highest advertised rate may apply only to a particular deposit tenure and may not be available across all FD schemes.
Investors should also check whether the quoted rate applies to their deposit amount and customer category. Senior citizens generally receive additional interest benefits, but the exact terms vary between banks.
Another important factor is taxation. Interest earned from fixed deposits is taxable according to the depositor’s applicable income tax slab. Therefore, the actual post-tax return may be lower than the advertised interest rate.
Depositors should also consider the applicable deposit insurance coverage.
Under the DICGC framework, eligible deposits are insured up to ₹5 lakh per depositor per bank, including principal and interest, subject to the prescribed conditions.
The revised rates provide more choices for people planning their savings in November 2026. Before booking an FD, customers should verify the latest rates and terms on the respective bank’s official website.
