SBI, PNB, BOB, Axis, And 12 More Banks Revise FD Interest Rates Following RBI MPC, Seniors Can Avail Of Up To 8.80 Per Cent

After the repo rate was cut by 0.25 per cent to 6.00 per cent by the Reserve Bank of India (RBI) last week, 16 banks revised the interest rates of their fixed deposits during the week ending April 12, 2025. Six public sector banks (State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BOB), Central Bank of India (CBI), Canara Bank, Bank of Maharashtra), seven private banks (Dhanlaxmi Bank, J&K Bank, Karnataka Bank, South Indian Bank, Tamilnad Mercantile Bank, Axis Bank, Kotak Bank), and three small finance banks (SFBs) (Equitas SFB, ESAF SFB, and Shivalik SFB) revised interest rates for FDs.

Here are the latest FD interest rates for seniors offered by these banks.

State Bank Of India

It has revised rates which will be effective from April 15, 2025. The bank reduced rates for tenures between one year and three years. The highest rate offered to seniors on regular FDs is 7.50 per cent.  It offers:

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

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

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

• 7.50 per cent for five years and up to 10 years.        

Special FD: 

 7.55 per cent for 444 days (Amrit Vrishti)

Punjab National Bank

The bank revised the rates on April 10, 2025. It offers seniors:

• 7.30 per cent for one year to 505 days (except 390 days)

• 7.60 per cent for 390 days

• 7.20 per cent for 506 days

• 7.30 per cent for 507 days to two years

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

• 6.75 per cent for more than three years to 1203 days

• 6.65 per cent for 1204 days

• 6.75 per cent for 1205 days to five years

• 6.80 per cent for more than five years to 1894 days

• 6.65 per cent for 1895 days

• 6.80 per cent for 1896 days to 10 years.

The bank offers an additional 0.30 per cent (30 basis points) to super senior citizens for all tenures up to five years. For tenure beyond five years, the rate remains the same for both senior and super seniors.

Bank Of Baroda

After revising the FD rates, seniors can avail of a maximum of 7.65 per cent effective April 7, 2025. It offers:

• 7.35 per cent for one year

• 7.50 per cent for above one year to two years

• 7.65 per cent for above two years to three years

• 7.40 per cent for above three years to five years

• 7.50 per cent for above five years to 10 Years

• 7.65 per cent for 444 days (BoB Square Drive Deposit Scheme).

Super seniors can get an additional 10 bps interest on 444 days tenure and other FDs from more than one year to five years.

Central Bank Of India

The bank revised its FD rates on April 10, 2025. Seniors can avail of:

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

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

• 7.25 per cent for three years to 10 years.

Canara Bank

It also revised the FD rates on April 10, 2025. Here are the details of FD rates for senior citizens:

• 7.35 per cent for one year

• 7.75 per cent for 444 days

• 7.35 per cent for above one year to less than two years

• 7.65 per cent for two years and above to less than three years

• 7.70 per cent for three years and above to less than five years

• 7.20 per cent for five years and above to 10 years.

Bank Of Maharashtra

The bank offers the highest 7.45 per cent to the general public. For seniors, it offers an additional 50 bps interest. The rates excluding the additional rates are:

• 6.75 per cent for one year

• 6.50 per cent from one year to five years

Special FDs:

• 6.90 per cent for 200 days

• 7.45 per cent for 366 days

• 7.40 per cent for 555 days

• 6.50 per cent for 1777 days.

The rates were revised on April 8, 2025.

Dhanlaxmi Bank

The bank revised the rate on April 7, 2025. Seniors can receive:

• 7.25 per cent for one year and above to two years

• 7.75 per cent for 400 days 

• 7.00 per cent for above two years to three years

• 7.75 per cent for above three years to five years

• 7.10 per cent for above five years to 10 years.

J&K Bank

The bank revised rates on April 11, 2025 and offers seniors:

• 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 887 days

• 7.30 per cent for 888 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.

Karnataka Bank

The bank offers seniors:

• 7.75 per cent for one year to two years

• 7.00 per cent for above two years to five years

• 6.00 per cent for above five years to 10 years.

It revised the FD rates on April 9, 2025.

South Indian Bank

After the FD rate revision on April 11, 2025, seniors can avail of:

• 7.30 per cent for one year

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

• 7.90 per cent for one year seven days

• 7.00 per cent for one year eight days to less than 18 months

• 7.75 per cent for 18 months

• 7.00 per cent for above 18 months to less than 30 months

• 7.50 per cent for 30 months

• 7.20 per cent for above 30 months to less than 39 months

• 7.70 per cent for 39 months

• 7.20 per cent for above 39 months to less than five years

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

• 7.50 per cent for 66 months

• 6.50 per cent for above 66 months to 10 years.

Tamilnad Merchantile Bank

The bank offers senior citizens:

• 7.50 per cent for one year to less than 400 days

• 8.00 per cent for 400 days

• 7.50 per cent for above 400 days to less than two years

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

• 7.00 per cent for three years to 10 years.

It revised rates on April 6, 2025.

Axis Bank

It revised FD rates on April 11, 2025, and offers seniors:

• 7.20 per cent for one year to less than 15 months

• 7.75 per cent for 15 months to less than two years

• 7.60 per cent for two years to less than five years

• 7.75 per cent for five years to 10 years.

Kotak Bank

The bank revised FD rates on April 9, 2025. For seniors, the FD rates are:

• 7.60 per cent for 365 days to 389 Days

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

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

• 7.75 per cent for 23 months

• 7.65 per cent for 23 months one day to less than three years

• 7.50 per cent for three years and above but less than five years

• 6.70 per cent for five years to 10 years.

Equitas Small Finance Bank

SFBs usually offer higher deposit rates than the public and private sector scheduled commercial banks. It revised FD rates on April 7, 2025, and offers seniors:

• 8.40 per cent for one year to 18 months

• 8.25 per cent for 18 months one day to 887 days

• 8.55 per cent for 888 days

• 8.25 per cent for 889 days to three years

• 8.00 per cent for three years one day to 4 years

• 7.75 per cent for four years one day to 10 years.

ESAF Small Finance Bank

 This bank revised rates on April 7, 2025. The rates for seniors are:

• 5.50 per cent for 183 days to one year

• 8.00 per cent for one year one day to 443 days

• 8.25 per cent for 444 days

• 8.00 per cent for 445 days to less than 3 years

• 6.75 per cent for three years to less than 5 years

• 6.50 per cent for five years to 10 years.

Shivalik Small Finance Bank

The bank offers seniors:

• 6.50 per cent for nine months to 12 months

• 8.80 per cent for 12 months one day to 24 months

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

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

• 6.75 per cent for 60 months one day to 120 months.

It revised the rates on April 9, 2025.