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Senior citizens are getting up to 8.5% interest on FD, these banks are giving highest returns in July

Rahul Kumar | July 17, 2026 9:22 AM CST

Safe and better returns

If you are a senior citizen and want safe and better returns on your savings, then Fixed Deposit (FD) can be a good option for you. In July, many banks are offering interest up to 8.50% to senior citizens. The special thing is that small finance banks are among those giving the highest interest, while many private banks are also giving attractive returns of 7.75% to 8%.

Banks offering interest up to 8.50%

At present, Equitas Small Finance Bank and Shivalik Small Finance Bank are offering up to 8.50% annual interest on fixed deposits to senior citizens. If you want higher returns with safe investment, then these banks can be a good option for you.

Apart from this, Jana Small Finance Bank and Ujjivan Small Finance Bank are offering maximum interest of 8.30%, while ESAF Small Finance Bank and Suryoday Small Finance Bank are offering maximum interest of 8.25%.

Private banks are also getting good returns

Not only small finance banks, many private banks are also offering attractive interest rates to senior citizens.

DCB Bank 8.00%
Bandhan Bank 7.95%
Jammu & Kashmir Bank 7.80%
SBM Bank India 7.80%
IndusInd Bank 7.75%
Yes Bank 7.75%

However, interest rates may vary depending on the tenure of the FD. Therefore, before investing, it is important to confirm the latest rates from the website or branch of the concerned bank.

Keep these things in mind before investing

Experts say that one should not decide to invest just by seeing high interest. You should also keep in mind the reliability of the bank, the insurance cover available on the deposited amount, the penalty for breaking the FD prematurely and your financial needs.

If your deposit amount is up to ₹5 lakh, it is insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC). People who want to invest a large amount can reduce the risk by investing in different banks.

For whom is it a better option?

FD continues to be one of the most popular investment options for senior citizens who want regular and fixed income and want to avoid market fluctuations. Considering the current interest rates, this can be considered a good opportunity to invest for the long term. However, before investing, you should understand the bank's conditions, FD period and interest payment rules thoroughly, so that the right option can be chosen as per your need and financial goal.

Kanhaiya Pachauri

Kanhaiya Pachauri is an experienced journalist with 10 years of experience in print, TV and online media. He started his career as a print journalist and has been covering the tech and auto sections for the last few years. He researches technology closely and keeps an eye on the latest trends and developments. Currently, Kanhaiya is associated with TV9, where he is covering the Tech and Auto section. He has made a name for himself for in-depth coverage of the latest developments in the industry. We are ready to provide complete and correct information about any news to the users. When he is not working on technology, he enjoys pursuing his hobbies. He likes listening to music and reading books. He believes that music and books are a great way to relax after a busy day at work.