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Senior citizens can earn FD interest rate of 7-7.4% across banks in India
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4 min read | Updated on April 20, 2026, 12:48 IST
SUMMARY
Of the leading private sector lenders, Axis Bank, after the latest FD rate revision on April 18, 2026, offers the highest rate of return to senior citizens for tenures between 5 and 10 years.
A host of factors in India influence FD rates, including the overall fiscal and monetary situation of the country, repo rate, duration of the deposit, age of the depositor, etc. Image: Shutterstock
Senior citizens, as a conservative investor category, are interested in growing their capital while maintaining safety. This is the reason why most are inclined towards investment assets like fixed deposits. A host of factors in India influence FD rates, including the overall fiscal and monetary situation of the country, repo rate, duration of the deposit, age of the depositor, etc.
Senior citizens, considering the age element, as it is, draw a higher rate of interest, which generally is 50 basis points, over and above the FD interest rate offered to the general investor category.
So, if you fall in the senior citizen investor category, here is a quick comparison of rates being offered by different public sector and private banks across tenures.
| PSU Banks | 7 days to 45 days | 46 to 179 days | 91 to 154 days | 155 days | 156-179 days | 180 days to 210 days | 211 days to less than 1 yr. | 1 yr | 1 yr to less than 2 years | 2 yrs to less than 3 yrs | 3 yrs to less than 5 yrs | 5 yrs and up to 10 yrs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| State Bank of India | 3.55 | 5.4 | - | - | 6.15 | 6.4 | 6.75 | 6.9 | 6.8 | 7.05 | ||
| Punjab National Bank | 3.8 | 5.3 | 5.7 | 6.35 | 5.7 | 6.4 | 6.4 | 7.05 | 7.1 | 6.8 | ||
| Bank of Baroda | 4 | 5.5 | 5.5 | 5.5 | 5.5 | 6 | 6.5 | 6.6 | 6.75 | 6.9 | 7 | |
| Union Bank of India | 2.75-3 | 4.5 | 4.75-5.5 | 5.5 | 5.75 | 6.3 | 6.25 | 6 | 6 | |||
| Canara Bank | 3 | 4-4.25 | 4.25 | 4.25 | 6 | 6.75 | 6.75 | 6.75 | 6.75 |
Punjab National Bank (PNB) offers the highest rate of return to senior citizens at the rate of 7.4% return per annum for a 444-day tenure. Also, for a 1-year FD, the bank offers a decent return of 7.05%, better than other PSU Banks.
Bank of Baroda offers the highest rate of return of 7 per cent for an FD tenure of over 5 years to less than 10 years.
For the tenure between 180-269 days, the FD rate offered by Canara Bank is 5.75%. Further, on its special term deposit of 444 days, the bank offers senior citizens an interest rate of 7%.
So, looking at the details, senior citizens can get the highest interest rate at 7.4% on a special FD tenure of 444 days with PNB.
FD rates offered across tenure by private sector banks to senior citizens
| Private Banks | 7-89 days | 15-29 days | 30-45 days | 46-60 days | 61-89 days | 90 days to less than equal to 6 months | 6 months 1 day to less than equal to 9 months | 9 months 1 day to less than 1 yr | 1 yr to less than 15 months | 15 months to less than 18 months | 18 months to less than 21 months | 21 months to 2 yrs | 2 yrs 1 day to less than equal to 3 yrs | 3 yrs 1 day to less than 4 yrs 7 mnths | 55 months | 55 months 1 day to less than equal to 5 yrs | 5 yrs 1 day to 10 yrs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Bank | 3.25-4.75 | 6 | 6.25 | 6.75 | 6.85 | 6.95 | 6.95 | 6.95 | 7 | 6.95 | 6.9 | 6.65 | |||||
| ICICI Bank | 3.25-5 | 6 | 6.75 | 6.75 | 6.8 | 6.8 | 6.95 | 7.1 | 7.1 | 7.1 | 7 | ||||||
| Axis Bank | 3.5-5.25 | 5.5 | 6.25 | 6.75 | 6.95 | 6.95 | 6.95 | 6.95 | 6.95 | 6.95 | 6.95 | 7.2 |
Of the leading private sector lenders, Axis Bank, after the latest FD rate revision on April 18, 2026, offers the highest rate of return to senior citizens for tenures between 5 and 10 years.
Fixed deposits in India are rendered safe as they are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to the extent of 5 lakh per depositor, including both the principal and interest amount.
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