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Highest FD Interest Rates: Check Top Banks Offering Maximum Returns for Senior Citizens
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CNBC Awaaz•10-10-2026, 14:49
Highest FD Interest Rates: Check Top Banks Offering Maximum Returns for Senior Citizens
- •Suryoday Small Finance Bank is offering the highest annual interest rate of 8.25% on 5-year fixed deposits for senior citizens.
- •Jana Small Finance Bank provides 7.77% interest on 5-year FDs, while Ujjivan Small Finance Bank offers 7.20%.
- •Deposits in small finance banks are insured up to Rs 5 lakh under the Deposit Insurance and Credit Guarantee Corporation rules.
- •TDS is applicable for senior citizens if the annual interest earned from a single bank exceeds Rs 1 lakh.
Key Questions Answered
As of October 7, 2026, Suryoday Small Finance Bank offers the highest annual interest rate of 8.25% on 5-year fixed deposits for senior citizens, applicable for deposits up to Rs 3 crore.
Under the rules of the Deposit Insurance and Credit Guarantee Corporation (DICGC), eligible deposits of a single depositor in a bank, including earned interest, are insured up to a maximum of Rs 5 lakh.
Tax Deducted at Source (TDS) may be deducted for senior citizens if the interest earned in a single bank exceeds Rs 1 lakh during a financial year.
