Top Banks Offering Highest FD Rates —Check Latest Fixed Deposit Interest Rates Here

Fixed Deposits (FDs) have emerged as popular investment options in India due to the guaranteed returns they offer. However, it is important to compare the FD rates offered by different banks to maximise your returns. 

Following the recent repo rate cut by the Reserve Bank of India (RBI), most major banks have revised their interest rates on fixed deposits of various tenures. On June 6, the RBI’s Monetary Policy Committee (MPC) slashed the repo rate by 50 basis points to 5.5% from 6% earlier.  

After every repo rate cut by the RBI, banks often revise the interest rates for loans, fixed deposits, and various savings instruments.  The repo rate is the rate at which the RBI lends money to banks. Since the RBI has lowered the repo rate, banks will now receive the funds at a cheaper rate.  

Following the RBI’s repo rate cut, several banks have revised the interest rates they offer on FDs. Public sector lenders like the State Bank of India (SBI), Punjab National Bank and Bank of Baroda, among others, have revised the interest rates on FDs of various tenures. Major private lenders like HDFC Bank, ICICI Bank and Axis Bank have also revised their interest rates on Fixed Deposits.

For instance, following the RBI’s repo cut, ICICI Bank slashed its FD interest rates by up to 25 basis points. These rates came into effect from June 10. Similarly, SBI cut the FD interest rate by 25 basis points across all tenures. For the general public, it offers the highest interest rate of 6.45%, and for senior citizens, the FD rates stand at 7.05%.

Further, if you want better returns from your FD investments, you can choose to invest in the plans offered by Small Finance Banks (SFBs). Most SFBs offer more than 8% interest rate on FDs for senior citizens. Some of the notable SFBs offering higher returns on FDs are Unity Small Finance Bank, Suryoday Small Finance Bank and Utkarsh Small Finance Bank.

To find the latest FD rates, it’s advisable to check the Fixed Deposit section on the official websites of the respective banks. Rates are subject to change without notice and the rates provided in the table are per the latest updates as of June 21, 2025.