News

Most Indian banks have recently lowered fixed deposit interest rates, impacting risk-averse investors — including senior citizens who depend on FDs for a steady income — following the Reserve Bank of India’s (RBI) 25 basis point repo rate cut on April 9, which brought the total reduction to 50 basis points since February 2025.

Banks have also discontinued special-tenure fixed deposit schemes, including State Bank of India’s Amrit Kalash and Bank of India's 400-day plan.

Fortunately, investors can still find relief in some banks that offer appealing three-year fixed deposit rates of up to 7.75 percent for the general public (non-senior citizens) and 8.25 percent for senior citizens.

Here are some banks that offer higher interest rates to the general public and senior citizens on three-year FDs. The list of such banks is not exhaustive. BankBazaar and Moneycontrol Research have compiled the data.

The best rates offered by these banks on three-year FDs (up to Rs 1 crore) have been considered. The data is as of April 29, 2025.

Also read | Deposit rates slashed — savers hit as banks move in to protect margins

Equitas Small Finance Bank

Equitas Small Finance Bank’s three-year fixed deposit offers 7.75 percent interest for the general public, growing Rs 1 lakh to Rs 1.26 lakh, and 8.25 percent interest for senior citizens, maturing Rs 1 lakh to Rs 1.28 lakh.

AU Small Finance Bank

AU Small Finance Bank offers a three-year fixed deposit at 7.5 percent interest for the general public, maturing Rs 1 lakh to Rs 1.25 lakh, and 8 percent interest for senior citizens, growing Rs 1 lakh to Rs 1.27 lakh.

Canara Bank

Canara Bank offers a three-year fixed deposit with an interest rate of 7.2 percent for the general public, which would raise Rs 1 lakh investment to Rs 1.24 lakh. For senior citizens, the bank offers a higher interest rate of 7.7 percent, growing Rs 1 lakh investment to Rs 1.26 lakh over the same tenure.

Bank of Baroda

Bank of Baroda's three-year fixed deposit offers 7.15 percent interest for the general public, growing Rs 1 lakh to Rs 1.24 lakh, and 7.65 percent interest for senior citizens, maturing Rs 1 lakh to Rs 1.26 lakh.

HDFC Bank, ICICI Bank and Axis Bank

These banks offer a three-year fixed deposit with an interest rate of 6.9 percent for the general public, maturing Rs 1 lakh to Rs 1.23 lakh. For senior citizens, they offer a higher interest rate of 7.4 percent, growing Rs 1 lakh to Rs 1.25 lakh over the same tenure.

State Bank of India and Punjab National Bank

State Bank of India and Punjab National Bank offer a three-year fixed deposit at 6.75 percent interest, maturing Rs 1 lakh to Rs 1.22 lakh for the general public. For senior citizens, they offer 7.25 percent interest, growing Rs 1 lakh to Rs 1.24 lakh over the same period.

Also read | Falling interest rates: Senior citizens should lock into longer-term FDs, small saving instruments

Union Bank of India

Union Bank of India’s three-year fixed deposit offers 6.7 percent interest for the general public, growing Rs 1 lakh to Rs 1.22 lakh, and 7.20 percent interest for senior citizens, maturing Rs 1 lakh to Rs 1.24 lakh.

Bank of India

Bank of India offers a three-year fixed deposit at 6.5 percent interest for the general public, maturing Rs 1 lakh to Rs 1.21 lakh, and 7 percent interest for senior citizens, growing Rs 1 lakh to Rs 1.23 lakh.

Indian Bank

Indian Bank offers a three-year fixed deposit with 6.25 percent interest for the general public, turning Rs 1 lakh to Rs 1.20 lakh, and 6.75 percent interest for senior citizens, growing Rs 1 lakh to Rs 1.22 lakh.

Discover the latest Business News, Budget 2025 News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

${res.must_watch_article[0].headline}

Stock Market Holiday Jammu Kashmir News Live MI vs RR Live Score GST Collections in April Heatwave in India Q4 Results 2025 Live WB Madhyamik Result SSLC Result 2025 Kolkata News IPL Points Table 2025

Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups

Home Currencies Commodities Pre-Market IPO Global Market Bonds

Home Loans up to 50 Lakhs Credit Cards Lifetime Free Finance TrackerNew Fixed Deposits Fixed Deposit Comparison Fixed Income

Home MC 30 Top Ranked Funds ETFs Mutual Fund Screener

Income Tax Calculator EMI Calculator Retirement Planning Gratuity Calculator

Stock Markets

News18 Firstpost CNBC TV18 News18 Hindi Cricketnext Overdrive Topper Learning

About Us Contact Us Advisory Alert Advertise with Us SupportDisclaimer Privacy Policy Cookie Policy Terms & Conditions Financial Terms (Glossary) Sitemap Investors

You are already a Moneycontrol Pro user.