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PNB to Suryoday SFB: These 5 banks revised their fixed deposit rates in February; details inside
9 min read | Updated on February 09, 2026, 17:38 IST
SUMMARY
With effect from February 2, 2026, Equitas SFB revised its interest rates on deposits, and now offers between 3.50% to 7.20% to the general public and between 4% to 7.70% to senior citizens on deposits across various tenures.
In 2025, the RBI cut the repo rate four times with a total reduction of 1.25% (125 basis points).
The Reserve Bank of India (RBI) on Friday, February 6 decided to keep the short-term lending rate, known as the repo rate, unchanged at 5.25% with a neutral monetary policy stance.
The repo rate is the rate at which the central bank lends money to other banks in the country. When this rate goes down, borrowing becomes cheaper for banks, making lending more affordable for their customers as well. Alongside lower loan rates, banks also decrease their fixed deposit (FD) rates after repo rate cuts.
As the RBI kept the rate unchanged this time, FD rates aren’t expected to change any time soon. Any rate cut in the future can impact deposit rates, so investors must act wisely.
Before the RBI’s monetary policy committee (MPC) announced its policy decision, keeping the repo rate steady after four cuts in 2025, as many as 5 Indian banks revised their deposit rates in the first week of February.
Banks, including Punjab National Bank (PNB), Indian Bank, Kotak Mahindra Bank, Equitas SFB and Suryoday SFB, revised their FD rates between February 1 and February 7, 2026.
Punjab National Bank
Punjab National Bank (PNB) revised its interest rates on February 1, 2026. The public sector lender currently offers rates between 3% and 6.40% on deposits for the general public and between 3.50% and 6.90% for senior citizens.
Here are the rates offered by PNB:
| Period | Revised Rates for Public (w.e.f. 01.02.2026) | Revised Rates for Senior Citizens (w.e.f. 01.02.2026) | Revised Rates for Super Senior Citizens (w.e.f. 01.02.2026) |
|---|---|---|---|
| 7 to 14 Days | 3.00 | 3.50 | 3.80 |
| 15 to 45 Days | 3.00 | 3.50 | 3.80 |
| 46 to 90 Days | 4.50 | 5.00 | 5.30 |
| 91 to 154 Days | 4.90 | 5.40 | 5.70 |
| 155 Days | 5.55 | 6.05 | 6.35 |
| 156 to 179 Days | 4.90 | 5.40 | 5.70 |
| 180 to 270 Days | 5.60 | 6.10 | 6.40 |
| 271 Days to 302 Days | 5.60 | 6.10 | 6.40 |
| 303 Days | 5.55 | 6.05 | 6.35 |
| 304 Days to < 1 Year | 5.60 | 6.10 | 6.40 |
| 1 Year | 6.10 | 6.60 | 6.90 |
| > 1 Year to 389 days | 6.30 | 6.80 | 7.10 |
| 390 days | 6.40 | 6.90 | 7.20 |
| 391 Days to 2 Years | 6.30 | 6.80 | 7.10 |
| > 2 to 3 Years | 6.30 | 6.80 | 7.10 |
| > 3 Years to 1203 Days | 6.10 | 6.60 | 6.90 |
| 1204 Days | 6.05 | 6.55 | 6.85 |
| 1205 Days to 5 Years | 6.10 | 6.60 | 6.90 |
| >5 Years to 10 Years | 6.00 | 6.80 | 6.80 |
Indian Bank
Indian Bank has introduced a new scheme with a tenure of 444 days, known as IND Secure, offering an interest rate of 6.45% to the general public and 6.95% to senior citizens. The bank revised its rates with effect from February 4 and is now offering between 2.80% to the general public and between 3.30 to 6.95% to senior citizens.
Here is a detailed view of interest rates:
| Period / Tenor of Deposit | Regular Rate (% p.a.) | Senior Citizen Rate (% p.a.) |
|---|---|---|
| 7 days to 14 days | 2.80% | 3.30% |
| 15 days to 29 days | 2.80% | 3.30% |
| 30 days to 45 days | 3.00% | 3.50% |
| 46 days to 90 days | 3.25% | 3.75% |
| 91 days to 120 days | 3.50% | 4.00% |
| 121 days to 180 days | 3.85% | 4.35% |
| 181 days to less than 9 months | 4.50% | 5.00% |
| 9 months to less than 1 year (Except 300 days) | 4.75% | 5.25% |
| IND Supreme 2.0 (300 Days) | 6.30% | 6.80% |
| 1 year | 6.10% | 6.60% |
| Above 1 year to less than 2 years (Except 444 & 555 days) | 6.20% | 6.70% |
| Ind Secure (444 Days) | 6.45% | 6.95% |
| Ind Green (555 Days) | 6.40% | 6.90% |
| 2 years to less than 3 years | 6.15% | 6.65% |
| 3 years to less than 5 years | 6.05% | 6.55% |
| 5 year | 6.00% | 6.50% |
| Above 5 years | 6.00% | 6.50% |
Kotak Mahindra Bank
Kotak Mahindra Bank is offering FD interest rates between 2.75% and 6.70% to normal citizens after its revision on February 4, 2026. To senior citizens, the bank is offering rates between 3.25% and 7.20%.
| Maturity Period | Regular (< ₹3 Cr) | Senior Citizen (< ₹3 Cr) |
|---|---|---|
| 7 – 14 Days | 2.75% | 3.25% |
| 15 – 30 Days | 2.75% | 3.25% |
| 31 – 45 Days | 3.00% | 3.50% |
| 46 – 90 Days | 3.50% | 4.00% |
| 91 Days | 4.50% | 5.00% |
| 92 Days – 179 Days | 4.25% | 4.75% |
| 180 Days | 5.50% | 6.00% |
| 181 Days to 269 Days | 5.50% | 6.00% |
| 270 Days | 5.50% | 6.00% |
| 271 Days to 363 Days | 6.00% | 6.50% |
| 364 Days | 6.00% | 6.50% |
| 365 Days to less than 15 Months | 6.50% | 7.00% |
| 15 Months – less than 18 Months | 6.70% | 7.20% |
| 18 Months – less than 2 Years | 6.70% | 7.20% |
| 2 Years – less than 3 Years | 6.70% | 7.20% |
| 3 Years and above but less than 4 Years | 6.40% | 6.90% |
| 4 Years and above but less than 5 Years | 6.40% | 6.90% |
| 5 Years and above up to and inclusive of 10 Years | 6.25% | 6.75% |
Equitas Small Finance Bank
Small Finance Banks generally offer higher interest rates to citizens due to their unique business structure. Notably, their deposits are also secured under the RBI’s DICGC (up to ₹5 lakh).
With effect from February 2, 2026, Equitas SFB revised its interest rates on deposits, and now offers between 3.50% to 7.20% to the general public and between 4% to 7.70% to senior citizens on deposits across various tenures.
| Tenure | Regular Rate | Senior Citizen Rate |
|---|---|---|
| 7 – 14 days | 3.50% | 4.00% |
| 15 – 29 days | 3.50% | 4.00% |
| 30 – 45 days | 4.00% | 4.50% |
| 46 – 62 days | 4.75% | 5.25% |
| 63 – 90 days | 4.75% | 5.25% |
| 91 – 120 days | 5.25% | 5.75% |
| 121 – 180 days | 5.25% | 5.75% |
| 181 – 210 days | 6.35% | 6.85% |
| 211 – 270 days | 6.35% | 6.85% |
| 271 – 364 days | 6.35% | 6.85% |
| 1 year to 443 days | 6.90% | 7.40% |
| 444 days | 6.90% | 7.40% |
| 445 days to 18 months | 6.90% | 7.40% |
| 18 months 1 day to 2 years | 6.90% | 7.40% |
| 2 years 1 day to 776 days | 7.00% | 7.50% |
| 777 days | 7.00% | 7.50% |
| 778 days to 887 days | 7.00% | 7.50% |
| 888 days | 7.20% | 7.70% |
| 889 days to 3 years | 7.00% | 7.50% |
| 3 years 1 day to 4 years | 7.00% | 7.50% |
| 4 years 1 day to 5 years | 7.00% | 7.50% |
| 5 years 1 day to 10 years | 7.00% | 7.50% |
Suryoday SFB
Effective from February 05, 2026, Suryoday Small Finance Bank (SFB) offers interest rates between 4% and 7.90% to the general public and between 4.20% and 7.90% to senior citizens. The SFB offers one of the highest interest rates in the Indian market.
| Period | Interest Rate (p.a.) | Senior Citizen Rate (p.a.) |
|---|---|---|
| 7 Days to 14 Days | 4.00% | 4.20% |
| 15 Days to 45 Days | 4.25% | 4.45% |
| 46 Days to 90 Days | 4.50% | 4.70% |
| 91 Days to 6 Months | 5.00% | 5.20% |
| 6 Months 1 Day | 6.50% | 6.70% |
| Above 6 Months 1 Day to 9 Months | 5.50% | 5.70% |
| Above 9 Months to less than 1 Year | 6.00% | 6.20% |
| 1 Year | 7.25% | 7.45% |
| Above 1 Year to less than 18 Months | 7.25% | 7.45% |
| 18 Months | 7.50% | 7.70% |
| Above 18 Months to 2 Years | 7.25% | 7.45% |
| Above 2 Years to 3 Years | 7.25% | 7.45% |
| Above 3 Years to less than 5 Years | 6.75% | 6.95% |
| 5 Years | 7.90% | 7.90% |
| Above 5 Years to 10 Years | 7.25% | 7.45% |
As the RBI kept the rate unchanged in the February meeting, the FD rates aren’t expected to rise any time soon. In 2025, the RBI cut the repo rate four times with a total reduction of 1.25% (125 basis points). Due to this, banks across India cut their lending and deposit rates many times during the year.
Any change in the repo rate in the next RBI MPC meeting can impact FD rates, so investors can check and compare the current rates to book a deposit suitable for their needs. Investors can also consider FD laddering, as suggested by many experts.
With a balanced ladder of 1-year, 2-year and 3-year FDs, investors can ensure they benefit from any potential rate cut or other market changes.
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