Senior citizen fixed deposit rates at 6.8-8.1%: Check offers by top banks

Small finance banks are outperforming their larger rivals by offering senior citizens premium yields of over 8%, providing a crucial safety net for retirement income

Fixed deposits remain the preferred choice for senior citizens seeking stable returns, with small finance banks leading the market. According to Paisabazaar data as of January 28, these lenders continue to offer the most attractive rates, with some tenures yielding more than 8 per cent annually.

 

Small finance banks

 

Suryoday, ESAF, Jana, Utkarsh and Shivalik Small Finance Banks offer rates ranging from 7.95 per cent to 8.10 per cent on select tenures for senior citizens. One-year deposits at some small finance banks yield over 7 per cent, higher than what most large private or public sector banks offer.

 

Private and public banks

 

Among private sector lenders, Bandhan Bank, RBL Bank, YES Bank and DCB Bank offer senior citizen rates up to 7.7–7.75 per cent on medium-term deposits. Large private banks such as HDFC Bank, ICICI Bank and Axis Bank offer 6.95–7.20 per cent across standard tenures.

 

Public sector banks remain more conservative, with State Bank of India, Bank of Baroda and Bank of India offering senior citizen rates mostly in the 6.8–7.2 per cent range. Some banks also provide additional benefits for super senior citizens (aged 80 and above), adding 0.05–0.3 per cent on top of standard senior rates. 

 

Latest fixed deposit rates 

“Small finance banks such as Suryoday continue to offer some of the highest fixed deposit rates for senior citizens,” said Saurabh Jain, cofounder and chief executive officer at Stable Money. He added that submitting Form 15G or Form 15H can ensure interest income is received without tax deductions, boosting cash flow for retirees. 

Senior Citizen FD Table
Bank Name	Interest Rates (p.a.)						Additional rates offered to Super Senior Citizen* (over and above to senior citizen rates)
	Highest slab		1-year	3-year	5-year	10-year
	%	Tenure
SMALL FINANCE BANKS
AU Small Finance Bank	7.60	30 months 1 day to 36 months	6.85	7.60	7.25	7.25	---
Equitas Small Finance Bank	7.80	888 days	7.50	7.50	7.50	7.50	---
ESAF Small Finance Bank	8.10	444 days	5.25	6.50	6.25	6.25	---
Jana Small Finance Bank	8.00	Above 2 years to 3 years	7.50	8.00	7.77	7.00	---
Shivalik Small Finance Bank	8.00	21 months 1 day to 22 months	6.50	7.25	6.75	6.75	---
slice Small Finance Bank	7.75	18 months 1 day to 18 months 2 days	6.50	7.50	7.25	6.75	---
Suryoday Small Finance Bank	8.00	5 years	7.45	7.45	8.00	7.45	---
Ujjivan Small Finance Bank	7.95	2 years	7.75	7.70	7.70	7.00	---
Utkarsh Small Finance Bank	8.00	2 years to 3 years	6.50	8.00	7.50	7.25	---
PRIVATE SECTOR BANKS
Axis Bank	7.20	5 years to 10 years	6.75	6.95	7.20	7.20	---
Bandhan Bank	7.70	2 years to less than 3 years	7.50	7.50	6.60	6.60	---
City Union Bank	7.25	500 days	7.00	6.75	6.50	6.50	0.05% on 271 days to 499 days; 0.25% on 500 days; 0.05% on 501 days to 3 years; 0.10% on above 3 years to 10 years
CSB Bank	7.30	13 months	5.30	6.05	6.05	6.30	---
DBS Bank	7.10	376 days to 600 days	6.80	6.90	6.75	6.75	---
DCB Bank	7.65	60 months to 61 months	7.15	7.25	7.65	7.25	0.05% on tenures of 37 months to 38 months & 60 months to 61 months **
Federal Bank	7.25	36 months	6.75	7.25	6.90	6.90	---
HDFC Bank	6.95	18 months to 3 years	6.75	6.95	6.90	6.65	---
ICICI Bank	7.10	3 years 1 day to 5 years	6.75	6.95	7.10	7.00	---
IDFC FIRST Bank	7.50	450 days to 5 years	6.80	7.50	7.50	6.50	---
IndusInd Bank	7.50	1 year 6 months to less than 1 year 7 months	7.25	7.40	7.15	7.00	---
Jammu & Kashmir Bank	7.50	888 days	7.00	7.15	7.10	7.10	0.25% on all tenures
IDBI Bank	7.00	700 days - Utsav FD	6.70	6.85	6.75	6.40	0.15% on 555 days & 700 days
Karnataka Bank	7.05	555 days	6.90	6.55	6.55	5.90	---
Kotak Mahindra Bank	7.20	15 months to less than 2 years	7.00	6.90	6.75	6.75	---
RBL Bank	7.70	18 months to 3 years