Senior Citizen FD Rates 2026: Fixed deposits remain one of the easiest and safest ways for senior citizens to keep money aside. The main reason people like them is simple. The money stays safe and the return is known in advance.
For a 3-year deposit, YES Bank is showing one of the strongest senior citizen rates at 7.75% for the 36 months to less than 60 months bucket. For a 5-year deposit, the same bank shows 7.50% for 60 months. That makes it one of the better options in the private bank space right now.
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How SBI, PNB, YES Bank and Others Compare
SBI
SBI’s current retail term deposit rates show 6.80% for senior citizens in the 3 years to less than 5 years bucket. For 5 years and up to 10 years, SBI offers 7.05% for senior citizens, including the extra benefit under the SBI We-care deposit scheme.
PNB
PNB’s current domestic term-deposit chart shows senior citizen rates of 7.50% in the more-than-2-years-to-3-years bucket and 7.00% in the 1205 days to 5 years bucket. PNB also says senior citizens between 60 and 80 years get an extra 50 bps on domestic deposits of less than ₹3 crore for up to 5 years.
HDFC Bank
HDFC Bank is also in the mix. Its current rate card shows 6.95% for senior citizens on the 3-year bucket and 6.90% for the 3 years 1 day to less than 5 years bucket. Bank of Baroda shows 6.75% for senior citizens in the above 2 years to up to 3 years bucket and 6.90% for the above 3 years to 5 years bucket.
Interest rates offered by government banks on 5-year FDs
| Bank Name | Interest rate on 5-year FD for senior citizens |
| State Bank of India | 7.05% |
| Bank of Baroda | 6.90% |
| Punjab National Bank | 6.85% |
| Bank of India | 6.75% |
| Canara Bank | 6.75% |
| Indian Bank | 6.60% |
| Union Bank of India | 6.60% |
| Central Bank of India | 6.50% |
| Indian Overseas Bank | 6.50% |
What to Check Before Investing?
Before locking money in an FD, it is not enough to look only at the interest rate. Senior citizens should also check the bank’s trust level, the penalty for early withdrawal, the payout choice, and all the small rules written in the terms and conditions.
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Some banks also change rates without warning and may charge a penalty if the deposit is closed early. Kotak’s FD rules, for example, clearly say that rates can change without notice and that premature withdrawal can attract a penalty.
Interest rate on 5-year FD for senior citizens
| Bank Name | Interest rate on 5-year FD for senior citizens |
| DCB Bank | 8.00% |
| SBM Bank India | 7.50% |
| YES Bank | 7.50% |
| Jammu & Kashmir Bank | 7.35% |
| Axis Bank | 7.25% |
| RBL Bank | 7.20% |
Which bank offers the best interest rate on a 3-year FD?
| Bank Name | Interest rate on 3-year FD for senior citizens |
| Bandhan Bank | 7.75% |
| IndusInd Bank | 7.75% |
| YES Bank | 7.75% |
| RBL Bank | 7.70% |
| IDFC FIRST Bank | 7.60% |
| SBM Bank India | 7.60% |
Interest rates offered by public sector banks on 3-year fixed deposits
| Bank Name | Interest rate on 3-year FD for senior citizens |
| Bank of India | 7.45% |
| Punjab National Bank | 6.80% |
| State Bank of India | 6.80% |
| Bank of Baroda | 6.75% |
| Canara Bank | 6.75% |
