An FD interest rate only makes sense alongside its tenure, deposit amount and eligibility conditions. A senior-citizen offer, a cumulative deposit and a monthly-payout deposit can have different rates, even with the same issuer.
Below are selected examples from three issuers’ official sources checked on 23 September 2026. This is a limited comparison, not a ranking of every FD available in India. Rates are quoted per annum, before tax, and can change. Confirm the applicable offer with the issuer before booking.
Selected bank FD rates
| Bank and tenure | General rate | Senior-citizen rate |
|---|---|---|
| SBI: 1 year to less than 2 years | 6.25% | 6.75% |
| SBI: 2 years to less than 3 years | 6.40% | 6.90% |
| Suryoday: exactly 18 months | 7.80% | 7.95% |
| Suryoday: exactly 30 months | 8.10% | 8.25% |
| Suryoday: exactly 5 years | 8.25% | 8.50% |
SBI scope: retail domestic term deposits below ₹3 crore. The displayed revised rate card is effective from 15 December 2025. These rows exclude separate special-tenure and non-callable products. See SBI’s official retail deposit rate card for eligibility and other tenures.
Suryoday scope: domestic fixed deposits below ₹3 crore, from the rate card effective 15 August 2026. Senior rates apply to resident Indians aged 60 or above. Select “Fixed Deposits” and “Domestic Fixed Deposits” on Suryoday’s official rate page. Its separately displayed annualised yield includes a compounding calculation; the table above uses the interest-rate columns. Monthly payouts are calculated at a discounted rate under the bank’s terms.
Exact tenure matters. For example, Suryoday’s special 30-month rate does not apply to every deposit between two and three years. Check the precise maturity date rather than rounding the tenure.
Bajaj Finance: a separate NBFC comparison
Bajaj Finance is a non-banking financial company (NBFC), so its deposits should not be treated as equivalent to insured bank deposits.
| Cumulative deposit tenure | Regular rate |
|---|---|
| 12–17 months | 6.60% |
| 18–30 months | 6.85% |
| 31–60 months | 7.40% |
These figures are for ₹15,000 to ₹3 crore per deposit, from the official terms and rate table effective 1 May 2026. Interest is paid at maturity. Monthly, quarterly and other payout options have their own quoted rates.
The official product page advertises up to 7.75% for eligible senior citizens and up to 7.40% for other individuals. Verify age eligibility and the exact booking quote; an “up to” rate does not apply to every tenure.
Compare protection as well as the rate
DICGC’s deposit-insurance FAQs explain that eligible deposits are covered up to ₹5 lakh per depositor per bank, including principal and interest, held in the same right and capacity. Relevant balances across branches of the same bank are combined.
Opening several FDs at one bank does not multiply that limit. Account for your other eligible deposits and accrued interest when assessing coverage. Simply splitting an amount into two or three deposits does not guarantee that the whole sum is insured.
NBFC deposits do not receive DICGC protection. The RBI’s NBFC FAQs explain this distinction. A credit rating is not deposit insurance or a guarantee against loss.
A checklist before choosing an FD
- Match the tenure to when you need the money. Compare offers for the same intended holding period, then examine special-tenure alternatives separately.
- Choose how interest is paid. Compare cumulative maturity values separately from monthly or quarterly cash payouts. A quoted annual rate and an annualised yield are different measures.
- Read early-withdrawal terms. Check whether withdrawal is permitted, how the rate is recalculated and whether a penalty applies. Do not assume every FD can be closed early.
- Check the deposit category. Resident and non-resident products, bulk deposits, senior-citizen offers and non-callable deposits may have different conditions.
- Consider tax and protection. The table shows gross interest rates. Your tax treatment and applicable insurance affect the practical comparison.
For the calculation method, withdrawal restrictions and tax-saving eligibility, read our fixed deposit explainer.
Common questions
Which FD has the highest rate?
This page does not establish a market-wide winner. The highest number among these selected examples may involve a different tenure, age condition or issuer risk. Compare the offer that applies to your circumstances and confirm it on the official booking date.
Are these live rates?
No. They are a dated editorial snapshot of the linked official sources checked on 23 September 2026. The issuer’s current applicable rate and terms take precedence.
Does a longer FD always pay more?
No. Rate cards can offer higher rates at a particular tenure. Compare the exact slabs rather than assuming that a longer deposit automatically earns a higher annual rate.
Editorial method: The Banking Desk checked the named issuers’ public rate pages and relevant insurance guidance. This comparison does not claim personal product testing or independent financial advice. Other issuers are excluded from the numeric table until their applicable rate, tenure and eligibility can be verified together.
Last Updated on 1 month ago by Team Paisaseekho
