FD rates for 1, 3 and 5 years
| Bank | 1 year | 3 years | 5 years | 5 years, senior |
|---|---|---|---|---|
| State Bank of India | 6.25% | 6.30% | 6.05% | 7.05% |
| HDFC Bank | 6.25% | 6.45% | 6.40% | 6.90% |
| ICICI Bank | 6.25% | 6.45% | 6.50% | 7.10% |
| Axis Bank | 6.25% | 6.50% | 6.50% | 7.25% |
| Punjab National Bank | 6.25% | 6.30% | 6.35% | 6.85% |
| Canara Bank | 6.25% | 6.25% | 6.25% | 6.75% |
General public rates per year, deposits below ₹3 crore, with premature withdrawal allowed.
Highest FD rate at each bank
| Bank | General | Senior | Tenure |
|---|---|---|---|
| State Bank of India444 days (Amrit Vrishti) | 6.45% | 6.95% | 444 days (Amrit Vrishti) |
| HDFC Bank3 years 1 day to under 4 years 7 months | 6.50% | 7.10% | 3 years 1 day to under 4 years 7 months |
| ICICI Bank3 years 1 day to 5 years | 6.50% | 7.10% | 3 years 1 day to 5 years |
| Axis Bank18 months to 10 years | 6.50% | 7.00% | 18 months to 10 years |
| Punjab National Bank444 days | 6.60% | 7.10% | 444 days |
| Canara Bank555 days | 6.60% | 7.10% | 555 days |
Bank FD or post office time deposit?
The post office 5-year time deposit pays 7.5%, more than any large bank's 5-year FD in the table above, and it is backed by the Government of India. Bank FDs are more flexible: any tenure from 7 days to 10 years, and easy to open online. See all post office interest rates.
Work out your maturity amount
Enter the rate from this page into the FD calculator to see your maturity amount and interest, or the RD calculator for monthly deposits.
Frequently asked questions
Which bank gives the highest FD rate in September 2026?
Among the large banks we track, the highest rate is 6.60% (7.10% for senior citizens), from Punjab National Bank (444 days) and Canara Bank (555 days). For a 5-year FD, ICICI Bank pays 6.50%. Small finance banks often pay more, but check that your deposit stays within the ₹5 lakh DICGC insurance limit.
How much extra do senior citizens get on FDs?
Most banks pay senior citizens (60 and above) an extra 0.50% a year. Some add more for longer tenures, such as SBI’s We-care deposit for 5 years and above.
Will FD rates go up or down?
FD rates follow RBI's repo rate, which is 5.25% after the August 2026 policy. Banks cut deposit rates after the repo cuts of 2025. If you expect rates to fall further, locking in a longer tenure now keeps today's rate.
Is FD interest taxable?
Yes, FD interest is taxed at your slab rate. Banks deduct 10% TDS when your interest from one bank crosses ₹50,000 a year (₹1 lakh for senior citizens). Submit Form 15G or 15H if your total income is below the taxable limit.
Sources
- State Bank of India – deposit interest rates
- HDFC Bank – deposit interest rates
- ICICI Bank – deposit interest rates
- Axis Bank – deposit interest rates
- Punjab National Bank – deposit interest rates
- Canara Bank – deposit interest rates
Last checked on 20 September 2026. Banks change deposit rates without notice. Confirm the rate with your bank before you invest.