Fixed deposits (FD) continue to be a popular investment option for many senior citizens looking for stable returns and a regular income. However, FD interest rates vary from one bank to another, making it important to compare offers before investing. If you are planning to lock your money in a 3 or a 5-year fixed deposit scheme, here's a look at the highest senior citizen FD interest rates offered by public and private sector banks .
Highest FD interest rates on 3-year FD by private sector banks
Among private sector banks, Bandhan Bank, IndusInd Bank, and YES Bank are offering the highest 3-year FD interest rate at 7.75% each to senior citizens, followed by RBL Bank at 7.70% and IDFC FIRST Bank and SBM Bank India at 7.60%.
| Rank | Bank | Senior Citizen FD Interest Rate |
| 1 | Bandhan Bank | 7.75% |
| 1 | IndusInd Bank | 7.75% |
| 1 | YES Bank | 7.75% |
| 4 | RBL Bank | 7.70% |
| 5 | IDFC FIRST Bank | 7.60% |
| 5 | SBM Bank India | 7.60% |
Highest interest rates on 5-year FD by private sector banks
For 5-year fixed deposits, DCB Bank tops the list with an interest rate of 8.00%, while SBM Bank India and YES Bank offer a 7.50% each. Jammu & Kashmir Bank provides 7.35%, Axis Bank offers 7.25%, and RBL Bank and Tamilnad Mercantile Bank offer a 7.20% rate each.
| Rank | Bank | 5-Year Senior Citizen FD Interest Rate |
| 1 | DCB Bank | 8.00% |
| 2 | SBM Bank India | 7.50% |
| 2 | YES Bank | 7.50% |
| 4 | Jammu & Kashmir Bank | 7.35% |
| 5 | Axis Bank | 7.25% |
Highest interest rates on 3-year FD by public sector banks
Among public sector banks, Bank of India offers the highest 3-year FD interest rate at 7.45% to senior citizens, followed by Punjab National Bank (PNB) and State Bank of India (SBI) at 6.80% each. Bank of Baroda and Canara Bank offer 6.75% apiece, while Union Bank of India and Indian Overseas Bank provide 6.60% each.
| Rank | Bank | 3-Year Senior Citizen FD Interest Rate |
| 1 | Bank of India | 7.45% |
| 2 | Punjab National Bank (PNB) | 6.80% |
| 2 | State Bank of India (SBI) | 6.80% |
| 4 | Bank of Baroda | 6.75% |
| 4 | Canara Bank | 6.75% |
Highest interest rates on 5-year FD by public sector banks
For 5-year fixed deposits, SBI leads with an interest rate of 7.05%, followed by Bank of Baroda at 6.90% and PNB at 6.85%. Bank of India and Canara Bank offer 6.75% each, while Indian Bank, Union Bank of India, Indian Overseas Bank, and Central Bank of India offer rates between 6.50% and 6.60%.
| Rank | Bank | 5-Year Senior Citizen FD Interest Rate |
| 1 | State Bank of India (SBI) | 7.05% |
| 2 | Bank of Baroda | 6.90% |
| 3 | Punjab National Bank (PNB) | 6.85% |
| 4 | Bank of India | 6.75% |
| 4 | Canara Bank | 6.75% |
