Fixed Deposit (FD) Interest Rates in India: Comprehensive Overview for May 2025

Understanding Fixed Deposit (FD) interest rates is crucial for investors looking to maximize their savings. Here’s a detailed table summarizing the latest FD interest rates offered by major Indian banks and Non-Banking Financial Companies (NBFCs) as of May 2025.

Fixed Deposit Interest Rates by Major Indian Banks

| Bank Name | Tenure | General Rate (p.a.) | Senior Citizen Rate (p.a.) | Special Scheme Details |

|-----------|--------|----------------------|-----------------------------|------------------------|

| State Bank of India (SBI) | 1 year – 1 year 364 days | 6.80% | 7.30% | "Amrit Vrishti" (444 days): 6.85% general, 7.35% senior citizens |

| HDFC Bank | 15 to 21 months | 7.05% | 7.55% | Rates applicable from 19th May 2025 |

| ICICI Bank | 18 months to 2 years | 7.05% | 7.55% | Rates as high as 7.35% for senior citizens |

| Axis Bank | 18 months to <2 years | 7.05% | 7.55% | Rates vary based on deposit amount |

| Canara Bank | 444 days | 7.25% | 7.75% | Special 444-day FD scheme effective from April 10, 2025 |

| Bank of Baroda | 5 to 10 years | 6.50% – 6.80% | 7.40% – 7.50% | Rates vary based on tenure |

| Federal Bank | 444 days | 7.15% | 7.65% | Special 444-day FD scheme |

| IndusInd Bank | Various tenures | Up to 7.75% | Up to 8.25% | Rates vary based on tenure |

| Kotak Mahindra Bank | 391 days to <2 years | 7.15% | 7.65% | Rates vary based on tenure |

| Punjab National Bank (PNB) | 390 days | 7.10% | 7.60% | Special 390-day FD scheme |

Special Offers and Additional Insights

Banks often provide special rates for senior citizens. These rates are usually higher than the standard ones. For instance, the State Bank of India offers a competitive interest rate of 7.30% for senior citizens.

Additionally, many banks introduce special schemes. For example, SBI offers the "Amrit Vrishti" scheme, which has attractive rates for a specific tenure of 444 days. These promotions can significantly enhance your returns.

Key Considerations When Choosing an FD

When considering a Fixed Deposit, factors such as tenure, interest rates, and the bank's reputation are crucial. Always compare rates across different institutions. Ensure you understand the terms of any special schemes offered.

Fixed Deposit Rates by Non-Banking Financial Companies (NBFCs)

Here is a comprehensive overview of the latest Fixed Deposit (FD) interest rates from major Non-Banking Financial Companies (NBFCs) in India as of May 2025. These rates apply to deposits below ₹2 crore and are subject to change.

| NBFC | Tenure | General Rate (p.a.) | Senior Citizen Rate (p.a.) | Special Scheme Details |

|------|--------|----------------------|-----------------------------|------------------------|

| Bajaj Finance Ltd. | 12 to 60 months | 7.00% – 7.40% | 7.55% – 7.95% | Rates effective from 16 May 2025; minimum deposit ₹15,000. |

| Shriram Finance | 12 to 60 months | 7.85% – 8.80% | Not specified | Rates effective from 9 April 2024; FDs rated AA+ (Stable) by ICRA. |

| Sundaram Finance | 12 to 36 months | 7.20% – 7.50% | 7.70% – 8.00% | Rates effective from 1 May 2025; minimum deposit ₹10,000. |

Selecting the Right NBFC for Your FD

Choosing the right NBFC for your Fixed Deposit can offer higher returns than traditional banks. For example, Shriram Finance offers competitive rates ranging from 7.85% to 8.80%. However, it’s essential to verify the company’s ratings and compliance.

Conclusion: Making the Right Choice

Investing in Fixed Deposits offers stable and guaranteed returns. Always compare interest rates and terms from various banks and NBFCs before committing your funds. Consider your financial goals, risk tolerance, and liquidity needs.

For more information on interest rates, you can check this link.

In summary, understanding the FD interest rates is vital for effective financial planning. By choosing the right bank or NBFC, you can make the most of your investments while ensuring long-term security.