Four prominent financial institutions—HDFC Bank, Federal Bank, Slice Small Finance Bank (SFB), and ESAF SFB—have recently announced revisions to their fixed deposit (FD) interest rates. These changes, implemented in the week ending August 22, 2026, offer senior citizens the opportunity to secure returns as high as 8.50%, with ESAF SFB leading the pack.
These rate adjustments come as the Reserve Bank of India (RBI) prepares to introduce new regulations for bulk deposits. Effective October 1, 2026, the RBI will mandate uniform interest rates for bulk FDs exceeding ₹3 crore, ensuring consistency across a bank's branches for deposits booked on the same day. This rule, however, does not impact standard retail fixed deposits.
HDFC Bank FD Rates
HDFC Bank revised its FD rates effective August 19, 2026. Senior citizens can now earn a maximum of 7.10% on deposits with a tenure ranging from three years and one day to less than four years and seven months. Other notable rates for senior citizens include:
- 6.75% for one year to less than 15 months.
- 6.85% for 15 months to less than 18 months.
- 6.95% across several tenures between 18 months and three years.
- 6.90% for deposits around the 55-month tenure.
- 6.65% for five years and one day to 10 years.
Federal Bank FD Rates
Federal Bank also increased its FD rates on August 17, 2026, and introduced a new tenure. Senior citizens can now earn up to 7.20% for a 48-month deposit. Additional rates offered by Federal Bank are:
- 6.75% for one year.
- 6.90% for more than one year to less than 15 months.
- 7.15% for 15 months.
- 7.00% for deposits above 24 months to less than 48 months.
- 6.90% for deposits beyond 48 months to 10 years.
Slice Small Finance Bank FD Rates
Slice Small Finance Bank, formerly known as North East Small Finance Bank, updated its rates on August 19, 2026, marking its first revision in nearly 10 months. Senior citizens can secure a maximum of 7.75% on deposits with a tenure of 18 months and one day to 24 months, with quarterly interest payouts. Other rates include:
- 7.25% for 12 months and one day to 18 months.
- 7.50% for more than two years to three years.
- 7.25% for more than three years to five years.
ESAF Small Finance Bank FD Rates
ESAF SFB revised its FD rates on August 17, 2026, increasing its highest senior-citizen rate by 0.25 percentage points to an impressive 8.50%. This top rate is available on an 800-day deposit. Other rates for senior citizens are:
- 8.25% on deposits from two years to less than 799 days, and from 801 days to less than three years.
- 8.00% for a 501-day deposit.
- 7.75% for one year and one day to 500 days.
These rates generally apply to callable FDs below ₹3 crore. All eligible deposits are covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme, subject to applicable limits and conditions.