Senior citizens can earn up to 8.5% interest on fixed deposits in September, with select small finance banks which are offering some of the highest rates available in the market. ESAF Small Finance Bank and Suryoday Small Finance Bank are offering 8.5% on specific deposit tenures, while several other banks are offering 8% or more.
The key difference is the tenure attached to each rate. While ESAF offers 8.5% on an 800-day deposit, Suryoday offers the same rate on its five-year tax-saver FD. Jana Small Finance Bank, Ujjivan Small Finance Bank, Shivalik Small Finance Bank and Utkarsh Small Finance Bank also offer senior citizens rates above 8% on select tenures.
Senior Citizen FD Rates In September
|
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Senior Citizen Rate |
Tenure |
|
ESAF Small Finance Bank |
8.50% |
800 days |
|
Suryoday Small Finance Bank |
8.50% |
5 years |
|
Jana Small Finance Bank |
8.30%; 8.00% |
More than 2 years to 3 years; More than 3 years to 5 years |
|
Ujjivan Small Finance Bank |
8.30% |
3 years 1 day to 3 years 6 months |
|
Shivalik Small Finance Bank |
8.30%; 8.25% |
23 months 1 day to 27 months — non-callable; 23 months 1 day to 27 months — callable |
|
Utkarsh Small Finance Bank |
8.25%; 8.00% |
666 days; 2 years to 3 years |
ESAF Small Finance Bank’s rate card, effective Aug. 17, 2026, shows an 8.5% senior-citizen rate for exactly 800 days. The rate applies to resident term deposits below Rs 300 lakh.
Suryoday Small Finance Bank also offers 8.5% to senior citizens on its five-year Tax Saver Fixed Deposit. The bank specifies that the senior-citizen product is available to resident individuals aged 60 years and above, with a five-year lock-in.
Other Banks Offering Over 8% Interest on Senior Citizen FD
Jana Small Finance Bank offers 8.3% to senior citizens on deposits of more than two years to three years. The bank also offers 8% on deposits of more than three years to five years. Its rates apply to deposits below Rs 3 crore, while the senior-citizen rates are available to resident Indians aged 60 years and above.
Ujjivan Small Finance Bank offers 8.3% to resident senior citizens for deposits of three years and one day to three years and six months. Its rate card, effective Sept. 1, 2026, provides an additional 0.50 percentage point interest for senior citizens.
Shivalik Small Finance Bank offers 8.25% for senior citizens on callable fixed deposits with a tenure of 23 months and one day to 27 months. The bank’s September rate card also shows an 8.30% rate on the same tenure for non-callable FDs, which do not offer a premature-withdrawal facility.
Utkarsh Small Finance Bank offers senior citizens 8.25% on a 666-day FD, while its two-year to three-year tenure carries an 8% rate.
As rates differ according to tenure and product, senior citizens must compare the applicable rate with the lock-in period and premature-withdrawal rules before booking an FD. Bank rates are subject to change, and the applicable rate is generally the one offered when the deposit is booked.
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