Central Bank Of India, Indian Overseas Bank, DCB Bank, And Three More Banks Revise FD Rates, Seniors Can Receive Up To 7.70 Per Cent

Fixed deposit (FD) rates have declined as an aftereffect of the cut in repo rate cut by the Reserve Bank of India (RBI) in the last few months. This year, the RBI cut the repo rate by 100 basis points (1 per cent) to bring it down to 5.50 per cent. To adjust to this, banks have also reduced their deposit rates. 

During the week ending August 16, 2025, six banks revised their FD rates. These banks include the Central Bank of India (CBI), Indian Overseas Bank (IOB), DCB Bank, Karur Vysya Bank (KVB), South Indian Bank, and ICICI Bank.

Here are their revised deposit rates for senior citizens.

Central Bank Of India (CBI)

The nationalised bank revised its FD rates on August 10, 2025. For seniors, the highest interest rate after revision is 7.20 per cent. Here are the details of the Central Bank of India FD rates for seniors:

• 7.00 per cent for one year to less than two years

• 7.20 per cent for two years to less than three years

• 7.00 per cent for three years to less than five years

• 7.00 per cent for five years to 10 years

The bank offers some special deposit callable FDs also. These are for ‘444 days’ and ‘555 days’ and offer 7.10 per cent, each.

Indian Overseas Bank (IOB)

IOB’s new FD rates are effective from August 14, 2025. The rates for senior citizens are as follows:

• 6.60 per cent for one year

• 6.50 per cent for one year to less than two years (except 444 days)

• 6.75 per cent for 444 days

• 6.50 per cent for two years to less than three years

• 6.20 per cent for three years and above

DCB Bank

Senior citizens can avail of a maximum of 7.70 per cent for ‘27 months to less than 28 months’ tenure. Note that for this tenure and for ‘15 months to less than 16 months’ tenure, the bank offers an additional 25 basis points (bps) to seniors aged 70 years and above. All other FD rates are the same for both age categories. Here are the interest rates for senior citizens:

• 7.15 per cent for 12 months to less than 15 months

• 7.50 per cent for 15 months to less than 16 months

• 7.15 per cent for 16 months to less than 27 months

• 7.70 per cent for 27 months to less than 28 months (7.95 per cent to seniors aged 70 and above)

• 7.25 per cent for 28 months to 60 months

• 7.70 per cent for more than 60 months to 61 months

• 7.25 per cent for more than 61 months to 120 months

Karur Vysya Bank

This private sector bank revised its FD rates on August 14, 2025. Seniors can avail of:

• 7.00 per cent for one year to 443 days

• 7.25 per cent for 444 days

• 7.00 per cent for 445 days to two years

• 7.00 per cent for above two years to three years

• 7.00 per cent for above three years to five years

• 6.65 per cent for above five years

South Indian Bank

The Bank revised its FD rates on August 11, 2025, and offered seniors the highest 7.10 per cent. Here are the FD rates for seniors:

• 7.10 per cent for one year

• 6.60 per cent for above one year to one year six days

• 7.10 per cent for one year seven days to 399 days

• 6.80 per cent for 400 days

• 6.70 per cent for 401 days to less than five years

• 6.20 per cent for five years to less than 66 months

• 6.50 per cent for 66 months (Green Deposit)

• 6.20 per cent for above 66 months to 10 years

ICICI Bank

ICICI Bank offers seniors the highest interest rate of 7.10 per cent. Here are the details of the deposit rates for seniors:

• 6.75 per cent for one year to less than 18 months

• 6.90 per cent for 18 months to less than two years

• 7.10 per cent for two years one day to 10 years

The revised FD rates are effective August 16, 2025