Senior Citizen FD Interest Rates 2026 — Bank-wise Comparison & Calculator
Senior citizen FD rates in 2026 range from 7.30% (SBI, PNB) to 7.75% (Kotak, IDFC FIRST, IndusInd). This page compares rates across major banks and helps you calculate maturity for any amount. Senior citizens get 0.25–0.50% above regular rates and a higher TDS exemption threshold of ₹50,000 per year.
Last updated: 24 May 2026, 10:00 AM IST
Maturity Amount
₹7.34 L
at 7.75% for 5 years (quarterly compounding)
₹5.00 L FD — Detailed Breakdown
A senior citizen comparing FD options across banks for a ₹5 Lakh deposit for 5 years finds significant differences. At SBI (7.30%), the maturity is ₹7.18 L. At HDFC (7.50%), it is ₹7.25 L. At Kotak (7.70%), ₹7.32 L. At IDFC FIRST (7.75%), ₹7.34 L. The difference between the lowest (SBI) and highest (IDFC FIRST) is ₹16,030 on just ₹5 Lakh. For larger deposits, the gap widens proportionally. Post Office TD at 7.50% is government-guaranteed and is a strong option for risk-averse seniors. SCSS at 8.2% remains the best-rate government scheme but has a ₹30 Lakh limit.
Data Sources
- RBI — Master Direction on Interest Rates (2026) — www.rbi.org.in
- Bank Websites — Latest FD Rates (May 2026) — www.rbi.org.in
- Income Tax Act — TDS on FD Interest (2025) — incometaxindia.gov.in
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Important: This calculator provides estimates based on the inputs and assumptions you provide. Results are mathematical projections, not financial advice or recommendations. Actual outcomes will vary based on market conditions, policy changes, individual circumstances, and factors not captured by this tool. Verify all figures independently and consult qualified professionals before making financial decisions.
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Frequently Asked Questions
Which bank gives the highest FD rate for senior citizens?
As of May 2026, Kotak Mahindra (7.70%), IDFC FIRST (7.75%), and IndusInd (7.75%) offer the highest senior citizen FD rates among major banks. Small finance banks may offer even higher.
Is Post Office FD good for senior citizens?
Yes, Post Office TD offers 7.50% (same for all ages) with government guarantee. The 5-year TD also qualifies for Section 80C deduction. However, premature withdrawal penalty (2%) is higher than banks.
How much interest will a senior citizen earn on ₹5 Lakh FD?
At the best rate of 7.75%, ₹5 Lakh earns ₹2.34 L over 5 years. Monthly payout: about ₹3,899/month.
Do all banks offer higher rates for senior citizens?
All scheduled commercial banks offer 0.25–0.50% above regular rates for seniors (60+). Some offer additional premium for super-seniors (80+). Post Office offers the same rate for all ages.
What is Form 15H for senior citizen FD?
Form 15H is a self-declaration that your total income is below the taxable limit. Submitting it to the bank prevents TDS deduction on FD interest. Only senior citizens can use 15H; others use 15G.
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Disclaimer
This calculator provides estimates based on the interest rates and tenure shown. Actual maturity may vary based on the bank's specific compounding method and any rate revisions during the tenure. Bank rates are sourced from public data and may not reflect the latest changes — always confirm with your bank before investing. TDS is deducted at source if applicable. This is not financial advice. RupayWise is not a deposit broker or financial advisor.