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FD Interest Rates Soar: Get Up to 8.50% on 5-Year Fixed Deposits!
C
CNBC Awaaz•04-10-2026, 17:48
FD Interest Rates Soar: Get Up to 8.50% on 5-Year Fixed Deposits!
- •Small Finance Banks are currently offering the highest interest rates on 5-year FDs for senior citizens.
- •Suryoday Small Finance Bank leads with 8.50% interest on 5-year FDs for senior citizens.
- •Among private banks, DCB Bank offers 8% interest to senior citizens on 5-year FDs.
- •In public sector banks, SBI offers the highest rate at 7.05%.
- •TDS may apply for senior citizens if interest from FDs in a single bank exceeds ₹1 lakh in a financial year.
Key Questions Answered
Suryoday Small Finance Bank offers the highest interest rate of 8.50% on 5-year FDs for senior citizens.
TDS may apply if FD interest in a single bank exceeds ₹1 lakh in a financial year. Eligible senior citizens with no tax liability can submit Form 121, which replaced Form 15H starting April 1, 2026, to avoid TDS.
Among public sector banks, State Bank of India (SBI) leads by offering a 7.05% interest rate on 5-year fixed deposits.
