Latest FD Interest Rates: Top 7 Banks Offering the Highest Interest Rates on Long-Term FDs

Latest FD Interest Rates: Current FD rates on long-term deposits still remain attractive, not only due to the recent policy changes but also because the rates offered by some private banks and small finance banks are in the range of 7.5–8.1 per cent, depending on the selected tenure. Such options are appropriate for investors looking for stable and low-risk returns at higher yield rates over five years or more. 

Top High-rate Long-Term FDs

Axis Bank, among the major banks, is providing around 7.35 per cent on 5‑year fixed deposits for senior citizens, whilst ICICI Bank and Kotak Mahindra Bank are offering around 7.2 per cent for longer tenures. The leading public sector banks, i.e., SBI, Bank of Baroda, and PNB, are giving slightly lower rates of around 7–7.05 per cent on 5–10‑year deposits for the elderly, while the general customers’ rates are a little lower.

Small Finance Banks with 8%+

The small finance banks are still on the top tier as Suryoday SFB and ESAF SFB are the main players offering as much as 8.1 per cent on selective 5‑year or 444‑day deposits for the senior population, slightly lower rates apply to the non-seniors. Jana Small Finance Bank provides up to approximately 8 per cent for 2–5‑year FDs, while AU SFB and Unity SFB remain in the range of 7.25–7.6 per cent on multi‑year terms.

How to Choose the Right Bank

The investors are to take into account the effective yields, the penalties for premature withdrawal, and the DICGC deposit insurance coverage (up to ₹5 lakh per bank) in their comparison. Dividing up large amounts into 2–3 high-rate banks can mitigate the risk while securing the current high rates for a long period.

Disclaimer: FD interest rates vary by bank and tenure. Investors should verify rates directly with banks before investing. This information is not financial advice.

ALSO READ: ICICI Prudential AMC IPO Set To Ignite Markets: Price, Dates, Key Details And A Rising ₹115 GMP