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Investing 10 photos

The 10 banks paying the most on a fixed deposit right now

The gap between the best and worst one-year deposit rate on this list is 1.50 percentage points. On ₹10 lakh that is ₹15,000 a year, for the same money, locked for the same time.

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Published 21 September 2026

01 Shivalik Small Finance Bank

Shivalik Small Finance Bank — 8.0%

One-year rate 8.0% ₹8,000 on ₹1 lakh · 8.5% for seniors

Shivalik Small Finance Bank pays 8.0% to a general depositor and 8.5% to a senior citizen, on specified tenures. On ₹1 lakh for a year that is ₹8,000 before tax. DICGC cover is ₹5 lakh per depositor per bank — size the deposit accordingly.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

02 Unity Small Finance Bank

Unity Small Finance Bank — 8.0%

One-year rate 8.0% ₹8,000 on ₹1 lakh · 8.5% for seniors

Unity Small Finance Bank pays 8.0% to a general depositor and 8.5% to a senior citizen, on specified tenures. On ₹1 lakh for a year that is ₹8,000 before tax. Small finance banks pay more because they are raising deposits, not because the deposit is safer — DICGC cover is ₹5 lakh per depositor per bank either way.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

03 Jana Small Finance Bank

Jana Small Finance Bank — 7.8%

One-year rate 7.8% ₹7,800 on ₹1 lakh · 8.3% for seniors

Jana Small Finance Bank pays 7.8% to a general depositor and 8.3% to a senior citizen, on 2–3 years. On ₹1 lakh for a year that is ₹7,800 before tax. Small finance banks pay more because they are raising deposits, not because the deposit is safer — DICGC cover is ₹5 lakh per depositor per bank either way.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

04 Suryoday Small Finance Bank

Suryoday Small Finance Bank — 7.75%

One-year rate 7.75% ₹7,750 on ₹1 lakh · 8.25% for seniors

Suryoday Small Finance Bank pays 7.75% to a general depositor and 8.25% to a senior citizen, on 2–3 years. On ₹1 lakh for a year that is ₹7,750 before tax. Small finance banks pay more because they are raising deposits, not because the deposit is safer — DICGC cover is ₹5 lakh per depositor per bank either way.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

05 Utkarsh Small Finance Bank

Utkarsh Small Finance Bank — 7.75%

One-year rate 7.75% ₹7,750 on ₹1 lakh · 8.25% for seniors

Utkarsh Small Finance Bank pays 7.75% to a general depositor and 8.25% to a senior citizen, on 2–3 years. On ₹1 lakh for a year that is ₹7,750 before tax. Small finance banks pay more because they are raising deposits, not because the deposit is safer — DICGC cover is ₹5 lakh per depositor per bank either way.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

06 Bank of Baroda

Bank of Baroda — 6.75%

One-year rate 6.75% ₹6,750 on ₹1 lakh · 7.25% for seniors

Bank of Baroda pays 6.75% to a general depositor and 7.25% to a senior citizen, on 555 days (golden goal). On ₹1 lakh for a year that is ₹6,750 before tax. Rates below ₹3 crore; larger deposits are negotiated separately.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

07 Punjab National Bank

Punjab National Bank — 6.6%

One-year rate 6.6% ₹6,600 on ₹1 lakh · 7.1% for seniors

Punjab National Bank pays 6.6% to a general depositor and 7.1% to a senior citizen, on 390 days. On ₹1 lakh for a year that is ₹6,600 before tax. Rates below ₹3 crore; larger deposits are negotiated separately.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

08 Axis Bank

Axis Bank — 6.5%

One-year rate 6.5% ₹6,500 on ₹1 lakh · 7.25% for seniors

Axis Bank pays 6.5% to a general depositor and 7.25% to a senior citizen, on 15–18 months. On ₹1 lakh for a year that is ₹6,500 before tax. Rates below ₹3 crore; larger deposits are negotiated separately.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

09 HDFC Bank

HDFC Bank — 6.5%

One-year rate 6.5% ₹6,500 on ₹1 lakh · 7.1% for seniors

HDFC Bank pays 6.5% to a general depositor and 7.1% to a senior citizen, on 3 years 1 day to under 4 years 7 months. On ₹1 lakh for a year that is ₹6,500 before tax. Verified against HDFC Bank's published grid dated 25 Aug 2026. At 15–21 months the rate is 6.35–6.45%, not the peak.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

10 ICICI Bank

ICICI Bank — 6.5%

One-year rate 6.5% ₹6,500 on ₹1 lakh · 7.1% for seniors

ICICI Bank pays 6.5% to a general depositor and 7.1% to a senior citizen, on 15–18 months. On ₹1 lakh for a year that is ₹6,500 before tax. Rates below ₹3 crore; larger deposits are negotiated separately.

Source: Published bank comparisons, deposits below ₹3 crore · as of 2026-08-15

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