Several major banks have changed their interest rates; which one—SBI, HDFC, or PNB—offers the highest returns?
Fixed Deposits (FDs) remain highly popular among those seeking fixed returns without taking significant risks. However, interest rates on FDs vary from bank to bank. In November 2026, several public sector, private, and small finance banks adjusted their FD interest rates. Consequently, general customers can now earn annual interest ranging from 6.45% to 8.25% across various tenures. If you are considering opening an FD, it is worth checking which bank offers the best returns before investing. Let’s take a look at a comprehensive list of 15 banks.
Small Finance Banks offer the best returns, with interest rates reaching up to 8.25%
If you want to earn maximum returns on your hard-earned money without any risk, small finance banks could be your best option right now. According to the latest data for November 2026, Suryoday Small Finance Bank is leading the pack, offering an attractive annual interest rate of 8.25% to general customers on a 5-year Fixed Deposit (FD).
Furthermore, other small finance banks in the market are also providing strong competition. Ujjivan Small Finance Bank and Utkarsh Small Finance Bank are offering returns of up to 8.10% on FDs for specific tenures. This means that even if you deposit your money for a shorter duration, you could potentially earn significantly higher returns compared to what is offered by large public sector or private banks.
Where can you find better returns among public sector and major private banks?
If you prefer to place your trust in the country’s large, established public sector or private banks rather than small finance banks, you won’t be left disappointed—there are good options available there as well. Following recent changes, Bank of India (BOI) has taken the lead among public sector banks, offering an attractive interest rate of up to 6.85% to general customers under its special 500-day 'Akshay' scheme. Close behind are Punjab National Bank (PNB) and private sector major Kotak Mahindra Bank, both offering annual returns of up to 6.80% on select fixed deposit (FD) schemes.
Among the country's largest private banks, HDFC Bank and Axis Bank are offering a maximum interest rate of 6.60% for various tenures. Additionally, the country's largest public sector bank, State Bank of India (SBI), is offering a maximum interest rate of 6.45% to investors under its special 444-day 'Amrit Vrishti' scheme. In short, by staying informed, you can earn better returns on your savings while keeping your money secure in major banks.
Things to know before opening an FD
If you are planning to open a fixed deposit (FD) soon, comparing the latest interest rates offered by the country's leading banks can prove highly beneficial. However, do not base your decision solely on the highest interest rate; check the specific tenure for which that rate is offered. Furthermore, inquire about penalties for premature withdrawal and the available options for receiving interest payouts. Many banks offer additional interest to senior citizens, so their applicable rates may differ.
Disclaimer: This content has been sourced and edited from NDTV India. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
