If you’re a senior citizen looking for a safe way to grow your savings, a Fixed Deposit (FD) can be a good choice. HDFC Bank and Federal Bank have recently revised their FD interest rates for select tenures.
Federal Bank is now offering up to 7.20% interest for senior citizens, while HDFC Bank’s highest rate is 7.10%.
Here’s a simple look at the latest changes.
HDFC Bank raises FD rate for senior citizens
HDFC Bank has increased its senior citizen FD rate by 0.10% (10 basis points) for deposits below ₹3 crore. The new rates came into effect on August 19, 2026.
The bank now offers 7.10% interest on FDs with a tenure of 3 years 1 day to less than 4 years 7 months, up from the earlier 7%.
HDFC Bank Senior Citizen FD Rates
| Tenure | Interest Rate |
|---|---|
| 7-14 days | 3.25% |
| 15-29 days | 3.25% |
| 30-45 days | 3.75% |
| 46 days-6 months | 4.75% |
| 6 months 1 day-9 months | 6.00% |
| 9 months 1 day-less than 1 year | 6.25% |
| 1 year-less than 15 months | 6.75% |
| 15 months-less than 18 months | 6.85% |
| 18 months-3 years | Up to 6.95% |
| 3 years 1 day-less than 4 years 7 months | 7.10% |
| 4 years 7 months-5 years | 6.90% |
| 5 years 1 day-10 years | 6.65% |
The bank has not changed FD rates for general customers. They continue to earn between 2.75% and 6.50%, depending on the tenure.
Federal Bank offers the highest rate
Federal Bank also revised its FD rates from August 17, 2026.
For general customers, FD rates range from 3.00% to 6.70%. Senior citizens can earn between 3.50% and 7.20%.
The highest rate of 7.20% is available on 48-month FDs for senior citizens. General customers get 6.70% for the same tenure.
Federal Bank FD Rates
| Tenure | General | Senior Citizens |
| 7-29 days | 3.00% | 3.50% |
| 30-45 days | 3.25% | 3.75% |
| 46-90 days | 4.25% | 4.75% |
| 91-180 days | 4.50% | 5.00% |
| 181 days | 6.00% | 6.50% |
| 182-270 days | 5.50% | 6.00% |
| 271 days-less than 1 year | 6.00% | 6.50% |
| 1 year | 6.25% | 6.75% |
| Above 1 year-less than 15 months | 6.40% | 6.90% |
| 15 months | 6.65% | 7.15% |
| Above 15 months-24 months | 6.40% | 6.90% |
| Above 24 months-less than 48 months | 6.50% | 7.00% |
| 48 months | 6.70% | 7.20% |
| Above 48 months-10 years | 6.40% | 6.90% |
Things to check before investing
A higher interest rate is important, but it should not be the only factor while choosing an FD.
Before investing, check:
The FD tenure that suits your needs.
Premature withdrawal rules and penalties.
Interest payout options.
Tax and TDS rules on FD interest.
FD interest is generally taxable, so your final returns may depend on your total income and tax slab. Choose an FD that matches both your financial goals and liquidity needs.