SBI, PNB, Eight Others Revise FD Rates, Up To 8.80 Per Cent For Senior Depositors

Amid volatile economic conditions, interest rate movement, and easing inflation, 10 banks revised their fixed deposit rates during the week ending May 17, 2025.

These include the State Bank of India (SBI), Punjab National Bank (PNB), Indian Overseas Bank (IOB), J&K Bank, Karur Vysya Bank, IDBI Bank, IDFC First Bank, Federal Bank, Kotak Mahindra Bank, and Shivalik Small Finance Bank.

Here are the details of interest rates available for seniors:

State Bank Of India

The bank revised it's deposit rates on May 16, 2025. It has reduced interest by 20 basis points (bps) across tenures. For seniors, the highest rate available now is 7.30 per cent, which was earlier 7.50 per cent. The existing deposits now are as follows.

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

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

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

• 7.30 per cent for five years and up to 10 years

The bank also reduced the rates for its special FD ‘Amrit Vrishti’ to 6.85 per cent from 7.05 per cent for the general public. The deposit rates for seniors was also reduced from 7.55 per cent to 7.35 per cent.

Punjab National Bank

The bank revised its FD rate on May 14, 2025. The rates for seniors are as follows:

• 7.20 per cent for one year

• 7.30 per cent for more than one year to 389 days

• 7.50 per cent for 390 days

• 7.30 per cent for 391 days to 505 days

• 7.20 per cent for 506 days

• 7.30 per cent for 507 days to two year

• 7.25 per cent for more than two years to three years

• 6.75 per cent for more than three years to 1,203 days

• 6.65 per cent for 1,204 days

• 6.75 per cent for 1,205 days to five years

• 6.80 per cent for more than five years to 1,894 days

• 6.65 per cent for 1,895 days

• 6.80 per cent for 1,896 days to 10 years

Super seniors can avail of an additional 30 bps over these rates. However, the rate for seniors and super seniors remains the same for all tenures above five years.

Indian Overseas Bank

Senior citizens can avail of a maximum of 7.60 per cent now after the bank revised and reduced the FD rates by 20 bps for ‘one year to less than two years’ and ‘444 days’ tenures, on May 13, 2025. Here are the rates for seniors:

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

• 7.60 per cent for 444 days

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

• 7.00 per cent for three years and above

J&K Bank

This private sector bank revised the rates on May 11, 2025. The revised rates for seniors are:

• 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 less than two years

• 7.00 per cent for two years to 887 days

• 7.30 per cent for 888 days

• 7.00 per cent for 889 days to less than three years

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

• 6.50 per cent for five years to 10 years

Karur Vysya Bank

After revising the rates on May 16, 2025, the bank is now offering seniors the following rates in time deposits.

• 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

• 6.25 per cent for above five years to six years

• 6.25 per cent for above six years

• 6.25 per cent for KVB green deposits scheme (2345 days)

IDBI Bank

Senior citizens can avail of a maximum of 7.50 per cent from IDBI Bank’s FD. It revised the rates on May 16, 2025. The rates of interest for seniors are:

• 7.30 per cent for one year to two years (except 444, 555, and 700 days)

• 7.50 per cent for more than two years to less than three years

• 7.00 per cent for three years to five years

• 6.75 per cent for more than five years to 10 years

IDFC First Bank

The bank revised the rates on FD on May 15, 2025. The existing deposit rate for seniors is as follows.

• 6.25 per cent for one year

• 6.75 per cent for one year 1 day to 370 days

• 7.00 per cent for 371 days to 424 days

• 7.15 per cent for 425 days

• 7.00 per cent for 426 days to 500 days

• 6.75 per cent for 501 days to two years

• 6.25 per cent for two years 1 day to three years

• 6.00 per cent for three years 1 day to five years

• 6.00 per cent for five years 1 day to 10 years

Federal Bank

Senior citizens can book FDs with the bank for the highest rate of 7.65 per cent. It has introduced a new ‘710 days’ tenure offering 7.60 per cent on deposits. Here are the deposit rate details for seniors:

• 7.25 per cent for one year

• 7.30 per cent for above one year to 443 days

• 7.65 per cent for 444 days

• 7.30 per cent for 445 days to 709 days

• 7.60 per cent for 710 days

• 7.30 per cent for 711 days to two years

• 7.40 per cent for above two years to five years

• 7.00 per cent for above five years to 10 years

It revised the rates on May 17, 2025.

Kotak Mahindra Bank

After the FD rate revision on May 14, 2025, the bank is offering seniors the following rates on their deposits.

• 7.30 per cent for 365 days to 389 days

• 7.40 per cent for 390 days (12 months 25 days)

• 7.60 per cent for 391 days to less than 23 months

• 7.60 per cent for 23 months

• 7.55 per cent for 23 months 1 day to less than two years

• 7.40 per cent for tenures between two years and five years

• 6.70 per cent for five years and above to 10 years

The bank reduced interest by 5 bps on ‘391 days to less than 23 months’ and ’23 days’ tenures. Previously, they offered 7.65 per cent interest.

Shivalik Small Finance Bank

This small finance bank (SFB) offers 8.80 per cent FD interest to senior citizens. The interest rates for other tenures for seniors senior citizens are as follows.

• 8.55 per cent for 12 months 1 day to less than 18 months

• 8.80 per cent for 18 months to 24 months

• 8.00 per cent for 24 months 1 day to 36 months

• 7.00 per cent for 36 months 1 day to 60 months

• 6.75 per cent for 60 months 1 day to 120 months

SFB revised the rates on May 16, 2025.