FD rates for senior citizens in October 2026: Interest reaches 8.50% in these banks

Senior citizens can find fixed deposit rates as high as 8.50% in October 2026. These annual interest rates were taken from Paisa Bazaar, which updated them on 1 October 2026. These rates apply to deposits below ₹3 crore.

Small finance banks offer the highest maximum rates among the listed banks. Equitas, ESAF and Suryoday Small Finance Banks each show a maximum of 8.50%. However, this maximum does not apply to every deposit period.

Suryoday offers 8.50% for five years, compared with 7.40% for one- and three-year terms. Equitas offers 7.60% for 1 and 3 years, and 7.50% for 5 years. ESAF offers 6.50% for one and three years, falling to 6.25% for five years.

For one-year deposits, Unity Small Finance Bank leads the listed banks with 8%. Ujjivan follows with 7.75%. Capital and Equitas each offer 7.60%, while Jana offers 7.50%.

Jana Small Finance Bank offers 8.30% for three years and 7.77% for five years. AU offers 7.90% for three years while Utkarsh offers 8%. Ujjivan offers 7.75% for three years and 7.70% for five years.

Private Banks

Among private banks, SBM Bank has the highest maximum rate, at 8.15%. Its one-year and three-year rates are both 7.60%. Its five-year rate is 7.50%.

DCB Bank offers a maximum rate of 8% for five-year deposits. Its one-year rate is 7.15% while three-year deposits earn 7.25%. Bandhan Bank’s maximum is 7.95%. It offers 7.50% for one year and 7.75% for three years.

IndusInd and YES Bank both offer 7.75% for three-year deposits. Their five-year rates are 7.15% and 7.50%, respectively.

HDFC Bank and ICICI Bank show identical rates across the listed periods. Both offer 6.75%, 6.95% and 6.90% for one, three and five years, respectively.

Public Sector Banks

Among public sector banks, Bank of India has the highest maximum rate, at 7.45%. This rate applies to three-year deposits. Its one-year rate is 7%, while five-year deposits earn 6.75%.

State Bank of India leads listed public banks for five-year deposits, offering 7.05%. Bank of Baroda offers 6.90% for five years. Canara Bank offers 6.75% across all three listed periods.

Indian Overseas Bank matches Bank of India’s one-year rate of 7%. Punjab National Bank offers 6.80% for three years and 6.60% for five years. Punjab & Sind Bank’s maximum reaches 7.35%, while its five-year rate is 6.45%.

Longer deposits do not always earn higher rates. A bank’s maximum rate can differ considerably from its standard deposit periods. Comparisons, therefore, depend on both the bank and the chosen duration.