FD Interest Rates Up To 8.50%: Compare Fixed Deposit Rates of 35 Banks | Where Can You Get the Highest Interest?
Earn Up To 8.50% Interest on Fixed Deposits!
Compare Fixed Deposit Rates of 35 Banks and Find Out Where You Can Get Higher Interest
For investors looking for capital safety, predictable returns and regular income, Fixed Deposits continue to be one of the most popular investment options in India.
However, Fixed Deposit interest rates are not the same across all banks. Depending on the bank, deposit tenure and category of depositor, the interest rate offered can vary significantly.
In particular, Senior Citizens can receive additional interest over regular FD rates. On selected deposit tenures, certain banks may offer interest rates of up to around 8.50% per annum.
Therefore, before investing in an FD, it can be useful to compare available bank FD rates instead of automatically investing only with your existing bank.
🔥 Where Can You Get Higher FD Interest?
Recent FD rate comparisons indicate that Small Finance Banks are among the institutions offering some of the higher Fixed Deposit rates, particularly for Senior Citizens and selected special tenures.
🏦 Small Finance Banks – Higher FD Rate Options
| Bank | Reported Maximum Rate* |
|---|---|
| Equitas Small Finance Bank | Up to 8.50% |
| Shivalik Small Finance Bank | Up to 8.50% |
| Jana Small Finance Bank | Around 8.30% |
| Ujjivan Small Finance Bank | Around 8.30% |
| Utkarsh Small Finance Bank | Around 8.25% |
| ESAF Small Finance Bank | Around 8.25% |
| Suryoday Small Finance Bank | Around 8.25% |
| AU Small Finance Bank | Around 7.90% |
🏛️ Private Sector Banks
Private sector banks also provide several FD options depending on tenure, deposit amount and customer category.
| Bank | Indicative Higher Rate* |
|---|---|
| DCB Bank | Up to around 8.00% |
| Bandhan Bank | Up to around 7.95% |
| IndusInd Bank | Around 7.75% |
| YES Bank | Around 7.75% |
| RBL Bank | Around 7.70% |
| IDFC FIRST Bank | Around 7.50% |
| HDFC Bank | Rate Depends on Tenure |
| ICICI Bank | Rate Depends on Tenure |
🇮🇳 Public Sector Banks
Public sector banks such as SBI, Bank of Baroda, Bank of India, Punjab National Bank, Canara Bank and others also offer various FD schemes for regular investors and Senior Citizens.
While their rates may sometimes be lower than certain Small Finance Banks, many investors prefer them because of familiarity, accessibility and their overall banking relationship.
⚠️ Don't Select an FD Only Because of the Highest Interest Rate
Before booking a Fixed Deposit, investors should also consider:
- FD Tenure
- Regular vs Senior Citizen interest rates
- Monthly, Quarterly or Cumulative interest option
- Premature withdrawal penalty
- Bank's financial position and credibility
- DICGC deposit insurance eligibility
- Income Tax implications on FD interest
- TDS applicable on interest income
- Renewal instructions
- Nomination facility
🛡️ Deposit Insurance – Up To ₹5 Lakh
Eligible bank deposits are covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC) framework up to ₹5 lakh per depositor per bank, subject to applicable DICGC rules.
👴 Special Benefit for Senior Citizens
Many banks provide an additional interest rate to Senior Citizens over the rate offered to regular depositors.
Therefore, Senior Citizens planning an FD should compare the Senior Citizen FD rate separately before selecting a bank and tenure.
💰 Looking for Regular Income from FD?
Investors who require regular cash flow may consider FD options where interest is paid:
- Monthly
- Quarterly
- Half-Yearly
- Annually
Investors who do not require regular income may consider Cumulative Fixed Deposits, where interest is compounded and generally paid at maturity.
🧾 Tax on Fixed Deposit Interest
Interest earned from Fixed Deposits is generally taxable according to the investor's applicable Income Tax provisions.
TDS may also be deducted by the bank when applicable thresholds and conditions are met.
Therefore, investors should consider the post-tax return and not only the headline FD interest rate.
💼 Planning to Invest in a Fixed Deposit?
If you want to compare FD options across banks and understand which tenure may be suitable for your investment requirement, you can contact BDPS Associates.
We can assist you with information relating to:
- Available Fixed Deposit options
- Comparison of FD interest rates
- Regular and Senior Citizen FD options
- Monthly / Quarterly income FD options
- Cumulative Fixed Deposits
- Short-term and long-term FD options
- FD renewal and maturity planning
FD Rates • Bank FD Comparison • Fixed Income Options
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