FD Rates Revised: HDFC, Federal, Slice, ESAF Banks Adjust Rates

HDFC Bank, Federal Bank, Slice Small Finance Bank (SFB), and ESAF SFB have revised their fixed deposit (FD) interest rates, with senior citizens now able to earn up to 8.50% on specific tenures.

These adjustments, implemented during the week ending August 22, 2026, come as banks anticipate a new Reserve Bank of India (RBI) directive set to take effect on October 1, 2026.

RBI’s Upcoming Bulk FD Rate Regulation

The Reserve Bank of India’s new rule will mandate uniform interest rates for bulk fixed deposits, specifically those exceeding ₹3 crore, across all branches of a bank on the same day.

This regulation will apply to deposits of similar amounts and tenures, ensuring consistency in offerings. It is important to note that this upcoming change does not affect rates for regular retail FDs.

HDFC Bank’s Revised Fixed Deposit Rates

HDFC Bank updated its FD rates effective August 19, offering senior citizens varied returns across different tenures.

• Deposits between three years and one day to less than four years and seven months can yield a maximum of 7.10%.
• Other rates include 6.75% for one year to less than 15 months, and 6.85% for 15 months to less than 18 months.
• Tenures between 18 months and three years offer 6.95%.
• Deposits around 55 months provide 6.90%, while those for five years and one day to 10 years offer 6.65%.

Federal Bank Increases FD Returns

Federal Bank adjusted its FD rates on August 17, introducing a new 48-month tenure.

• Senior citizens can now earn up to 7.20% on the new 48-month tenure.
• One-year deposits yield 6.75%, and those from more than one year to less than 15 months offer 6.90%.
• A 15-month tenure provides 7.15%.
• Deposits from over 24 months to less than 48 months earn 7%, and those beyond 48 months to 10 years offer 6.90%.

Slice SFB’s Latest Rate Adjustments

Slice Small Finance Bank, formerly North East Small Finance Bank, revised its rates on August 19.

• Senior citizens can receive a maximum of 7.75% for deposits with a tenure of 18 months and one day to 24 months, with quarterly interest payouts.
• Rates are 7.25% for 12 months and one day to 18 months.
• Deposits for over two years to three years offer 7.50%.
• For over three years to five years, the rate is 7.25%.

ESAF SFB Offers Highest Senior Citizen Rate

ESAF SFB revised its FD rates on August 17, notably increasing its highest senior citizen rate.

• The highest rate for senior citizens increased by 0.25 percentage points to 8.50% for an 800-day deposit.
• Deposits from two years to less than 799 days, and from 801 days to less than three years, offer 8.25%.
• A 501-day deposit yields 8%.
• One year and one day to 500 days offers 7.75%.

These rates apply to callable FDs under ₹3 crore and are covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme, subject to its terms.