Four Banks in the Country Raise FD Interest Rates; Returns Up to 8.60%

In October-November 2026, Kotak Mahindra Bank, Axis Bank, Utkarsh Small Finance Bank, and Suryoday Small Finance Bank adjusted their fixed deposit (FD) interest rates. Suryoday Small Finance Bank is offering up to 8.60% interest to senior citizens.

If you are looking to invest your savings in a secure place while earning a good return, a fixed deposit (FD) can be an excellent option. Recently, in October and November 2026, four banks in the country—Kotak Mahindra Bank, Axis Bank, Utkarsh Small Finance Bank, and Suryoday Small Finance Bank—revised their FD interest rates. With these new rates, customers may earn higher interest on FDs for certain tenures. Notably, these banks offer higher interest rates to senior citizens compared to general customers.

The new interest rates at these banks have come into effect on various dates. Suryoday Small Finance Bank is offering the highest rate of 8.60% to senior citizens on a 5-year FD, while Utkarsh Small Finance Bank is offering 8.50% to senior citizens on deposits with a tenure of 666 days. Let’s take a look at the interest rates offered by these four banks across different tenures.

New FD Rates at Kotak Mahindra Bank

Kotak Mahindra Bank increased interest rates on certain FDs, effective November 4, 2026. For general customers, the bank is now offering a maximum annual interest rate of 6.80% on FDs with tenures ranging from 2 years to less than 3 years. For the same tenure, the interest rate for senior citizens is 7.55%. Previously, the bank offered a maximum of 6.75% to general customers and 7.25% to senior citizens. In other words, both categories of customers can now earn better returns than before under these new rates.

FD Rates at Utkarsh Small Finance Bank

Utkarsh Small Finance Bank has revised its fixed deposit (FD) interest rates, effective November 1, 2026. For general customers, the bank is offering a maximum annual interest rate of 8.10% on a 666-day FD. Senior citizens will receive 8.50% interest for the same tenure. Previously, the maximum interest rate for senior citizens was 8.25%, which has now been increased to 8.50%. For general customers, the maximum rate remains at 8.10%.

What Interest Can You Earn on Axis Bank FDs?

Axis Bank has also increased interest rates on certain FD tenures, effective October 29, 2026. The bank is now offering a maximum annual interest rate of 6.60% to general customers on deposits with tenures ranging from 2 to 10 years. For senior citizens, the maximum interest rate is set at 7.35% for tenures between 5 and 10 years. Previously, the maximum rates were 6.50% for general customers and 7.25% for senior citizens.

Highest Interest Rate of 8.60% at Suryoday Small Finance Bank

The new interest rates at Suryoday Small Finance Bank have been in effect since October 30, 2026. The bank has revised the interest rates for some of its FD schemes. It is offering a maximum annual interest rate of 8.25% to general customers on 5-year deposits. For senior citizens, the interest rate for the same tenure is 8.60%. This is the highest rate among all the banks mentioned here.