Highest senior citizen FD interest rates after RBI repo rate hike: Public vs private vs small finance bank rates of 3 and 5-year fixed deposits
The Reserve Bank of India (RBI) increased the repo rate from 5.25% to 5.50% in its Monetary Policy Committee (MPC) meeting today (Wednesday, October 7). Following this announcement, banks are expected to increase their fixed deposit (FD) interest rates over time.
Adhil Shetty, CEO, Bankbazaar, says some banks revise FD rates within a few days of an RBI policy change, while others may wait for several weeks, depending on their funding requirements and liquidity position.
Here are the public and private sector banks and small finance banks (SFBs) offering the highest interest rates to senior citizens on and 5-year tenures.
Public sector banks — highest 3-year and 5-year senior citizens FD interest rates
Among public sector banks, Bank of India offers the highest 3-year FD interest rate at 7.45%. Punjab National Bank and State Bank of India offer 6.80% each for a 3-year fixed deposit, while Canara Bank and Bank of Baroda offer 6.75% each.
For a 5-year FD, State Bank of India offers the highest interest rate at 7.05%. Bank of Baroda offers 6.90%, followed by Punjab National Bank at 6.85%. Canara Bank offers 6.75%, while Indian Overseas Bank offers 6.60%.
| Bank | 3-year FD rate | Bank | 5-year FD rate |
| Bank of India | 7.45% | State Bank of India | 7.05% |
| Punjab National Bank | 6.80% | Bank of Baroda | 6.90% |
| State Bank of India | 6.80% | Punjab National Bank | 6.85% |
| Canara Bank | 6.75% | Canara Bank | 6.75% |
| Bank of Baroda | 6.75% | Indian Overseas Bank | 6.60% |
Source: Paisabazaar as on September 30, 2026 Among private sector banks, Bandhan Bank, IndusInd Bank and YES Bank offer a 3-year FD interest rate of 7.75% each. RBL Bank offers 7.70%, while SBM Bank India offers 7.60% on a 3-year fixed deposit.
For a 5-year FD, DCB Bank offers the highest interest rate at 8.00%. Axis Bank and Jammu & Kashmir Bank offer 7.25% each, while IndusInd Bank offers 7.15%. ICICI Bank offers a 5-year FD interest rate of 7.10%.
| Bank | 3-year FD rate | Bank | 5-year FD rate |
| Bandhan Bank | 7.75% | DCB Bank | 8.00% |
| IndusInd Bank | 7.75% | Axis Bank | 7.25% |
| YES Bank | 7.75% | Jammu & Kashmir Bank | 7.25% |
| RBL Bank | 7.70% | IndusInd Bank | 7.15% |
| SBM Bank India | 7.60% | ICICI Bank | 7.10% |
Small finance banks — highest 3-year and 5-year senior citizen FD interest rates
Among small finance banks, Jana Small Finance Bank offers the highest 3-year FD interest rate at 8.30%, followed by Utkarsh Small Finance Bank at 8.00%, Shivalik Small Finance Bank at 7.75%, Ujjivan Small Finance Bank at 7.70%, slice Small Finance Bank at 7.50% and AU Small Finance Bank at 7.25%.
For a 5-year FD, Suryoday Small Finance Bank offers the highest interest rate among the banks listed at 8.50%. Jana Small Finance Bank offers 8.00%, while Ujjivan Small Finance Bank offers 7.70%. AU Small Finance Bank and slice Small Finance Bank offer 7.25% each.
| Bank | 3-year FD rate | Bank | 5-year FD rate |
| Jana Small Finance Bank | 8.30% | Suryoday Small Finance Bank | 8.50% |
| Utkarsh Small Finance Bank | 8.00% | Jana Small Finance Bank | 8.00% |
| Shivalik Small Finance Bank | 7.75% | Ujjivan Small Finance Bank | 7.70% |
| Ujjivan Small Finance Bank | 7.75% | AU Small Finance Bank | 7.25% |
| slice Small Finance Bank | 7.50% | slice Small Finance Bank | 7.25% |