Senior citizens fixed deposit rates: List of 15 banks offering the highest FD returns

Among public sector banks, State Bank of India (SBI) is offering 7.05% interest to senior citizens on deposits with tenures ranging from 5 years to 10 years. Punjab National Bank (PNB) and Bank of Baroda are also offering 7.00% on longer-term deposits. Meanwhile, ICICI Bank provides 7.20% on FDs with tenures between 5 and 10 years, including its 5-year tax saver FD. HDFC Bank offers 7.10% for senior citizens on deposits with a tenure of 18 months to less than 21 months.

Private sector banks continue to offer competitive rates. Axis Bank is currently offering 7.35% on 5-year FDs, while Kotak Mahindra Bank offers 7.20% for deposits with tenures ranging from 391 days to less than 2 years.

Small finance banks remain the most attractive option for higher returns. ESAF Small Finance Bank and Suryoday Small Finance Bank are offering the highest rate of 8.10% on specific tenures. AU Small Finance Bank offers 7.60% for deposits between 24 months and 36 months, while Jana Small Finance Bank provides 8.00% on FDs with tenures of over 2 years up to 5 years. Utkarsh Small Finance Bank and Shivalik Small Finance Bank are also offering up to 8.00% on select deposit periods.

Other notable offerings include Slice Small Finance Bank at 7.75% for an 18-month tenure, and Unity Small Finance Bank at 7.25% for deposits between 501 days and 5 years.

While higher interest rates make small finance banks attractive, experts advise senior citizens to diversify deposits and ensure investments remain within the ₹5 lakh DICGC insurance limit per bank for added safety.