In the last two months after the Reserve Bank of India (RBI) reduced the repo rate, almost all banks have revised their fixed deposit (FD) rates. Most now offer FD rates in the range of 7-8 per cent, and an additional 0.50 per cent for senior citizens. Three banks, including Axis Bank, RBL Bank, and Utkarsh Small Finance Bank revised their FD rates during the week ending July 26, 2025.
Axis Bank
The private sector bank revised its FD rates on July 21, 2025. For FD up to Rs 3 crore, the bank offers the highest 6.60 per cent to the general public and 7.35 to senior citizens. It offers an additional 50 basis points (bps) to seniors across tenure except for ‘five years to 10 years’ for which the additional interest is 75 bps. Here are Axis Bank FD rates for seniors:
• 6.75 per cent for tenures from one year to one year 10 days
• 6.75 per cent for one year 11 days to less than 13 months
• 6.75 per cent for 13 months to less than 15 months
• 7.00 per cent for 15 months to less than 18 months
• 7.10 per cent for tenures from 18 months to less than two years
• 7.10 per cent for tenures from two years to less than three years
• 7.10 per cent for tenures from three years to less than five years
• 7.35 per cent for five years to 10 years
RBL Bank
RBL Bank revised and reduced the rates by 10 bps on 12-month FD, while introducing a tenure of ‘24 months one day to 36 months’ offering the highest 7.70 per cent effective July 22, 2025. Senior citizens can avail of:
• 7.50 per cent for tenures between 365 days and 500 days
• 7.50 per cent for 501 days to less than 18 months
• 7.50 per cent for 18 months to 24 months
• 7.70 per cent for 24 months one day to 36 months
• 7.50 per cent for 36 months one day to 60 months
• 7.20 per cent for 60 months two days to 120 months
Utkarsh Small Finance Bank
Utkarsh small finance bank revised its FD rates for the second time in a month on July 25, 2025. Earlier, it revised the rates on July 4, 2025. The bank now offers the highest 8.15 per cent to seniors compared to the previous 8.50 per cent for the same tenure. Here are the interest rates that seniors can avail of with the bank:
• 6.50 per cent for 181 days to 370 days
• 7.75 per cent for 371 days to less than two years (729 days)
• 8.15 per cent for two years (730 days) to three years (1095 days)
• 8.00 per cent for more than three years to less than four years
• 7.75 per cent for four years (1461 days) to five years (1826 days)
• 7.50 per cent for more than five years to 10 years.
The rates for the general public are 50 bps lower than those for senior citizens.
