HDFC vs Yes Bank vs SFBs: Which bank offers the highest fixed deposit rates in March 2026?

In the first week of March 2026, a set of eight banks in India revised their FD interest rates for deposits below ₹3 crore across various maturities spanning from 7 days to 10 years.

These banks were Bank of India, Indian Bank, Bandhan Bank, Yes Bank, HDFC Bank, IDFC First Bank, Equitas Small Finance Bank (SFB) and ESAF Small Finance Bank.

With several banks revising their deposit rates, in this article, we compare what leading lenders like HDFC Bank, Yes Bank, and various Small Finance Banks offer.

Among them, HDFC Bank updated its rates on 6 March 2026, offering general depositor rates in the region of roughly 2.75 % up to 6.50 % and senior citizen rates up to about 7.00 % across the full range of short‑ to long‑term tenures.

Yes Bank revised its rates effective 5 March 2026, providing regular customer returns from around 3.25 % up to 7.00 % on longer deposits, while senior citizens could earn as much as 7.75 % on tenures around three to five years.

Bandhan Bank’s revision from 6 March similarly saw general interest up to about 7.25 %, with seniors receiving up to approximately 7.75 % on two‑ to three‑year deposits.

IDFC First Bank’s update on 4 March 2026 featured general rates peaking near 7.20 % for mid‑term buckets like 450 days to five years and senior rates about 0.50 % higher than these.

Equitas SFB (revision effective 2 March) and ESAF SFB (effective 1 March) both leaned toward higher returns typical of small finance banks, with seniors receiving up to around 8.00 % and 8.50 % respectively in certain specific maturities within the 7 days to 10 years range.

Bank of India and Indian Bank also adjusted their schedules at the start of March, offering competitive medium‑term interest levels and additional benefits for senior and super‑senior depositors.

Among major banks, Yes Bank currently offers one of the highest interest rates for regular/general customers, with rates going up to 7.00 % per annum on deposits in the range of 36 months to less than 60 months (3-5 years) for amounts below ₹3 crore. For senior citizens, Yes Bank boosts the return further, offering up to 7.75 % per annum on similar 3 to 5 year deposits.

March FD Interest Rates 2026 (≤ ₹3 crore)

By contrast, large traditional banks such as HDFC Bank book FD interest rates between roughly 2.75 % at the shortest 7-14‑day bucket to about 6.45 % for general customers and up to about 6.95 % for senior citizens on longer medium‑term tenures.