Best FD Rates for Senior Citizens in India — April 2026
Senior citizens (age 60+) earn an additional 0.25-0.50% over regular FD rates at most banks. Yes Bank offers 8.25% (vs 7.75% regular), IDFC First gives 8.00% (vs 7.50%), and Kotak gives 7.70% (vs 7.20%). Always check if the bank has a "super senior citizen" rate for those aged 80+.
Last updated: April 6, 2026
Best FD Rates Banks — Ranked April 2026
#1Best pick
Yes Bank8.25% (Senior)
Highest senior citizen FD rate among major banks
#2
IDFC First8.00% (Senior)
Excellent digital experience + high rate
#3
Kotak7.70% (Senior)
Strong private bank — reliable payouts
#4
Axis7.60% (Senior)
Good combination of rate and branch access
#5
ICICI7.50% (Senior)
Trusted private bank — best for NRI families
Frequently Asked Questions
How much extra interest do senior citizens get on FD?+
Most banks offer 0.25-0.50% extra. Some banks like SBI offer 0.50% extra for regular seniors and an additional 0.25% for "super seniors" (80+).
Is FD interest taxable for senior citizens?+
Yes, but Section 80TTB allows senior citizens to claim deduction of up to ₹50,000 per year on FD interest (vs ₹10,000 under 80TTA for others). TDS is not deducted if Form 15H is submitted.
Which is better for senior citizens — FD or SCSS?+
SCSS (Senior Citizens Savings Scheme) at post offices offers 8.20% for Apr-Jun 2026 — higher than most bank FDs. However, SCSS has a 5-year lock-in and max deposit of ₹30L. FDs offer more flexibility. Both are good; split between them.
Disclaimer: Rates are indicative as of April 2026 and subject to change. This is for informational purposes only. Verify with the bank before making financial decisions.