Latest FD Rates 2026: SBI, PNB, ICICI, BoB, Canara Bank & HDFC, Axis After RBI Repo Rate Pause

Check the latest fixed deposit (FD) rates for 2026 from top PSU banks (SBI, PNB, Bank of Baroda, Canara Bank, Union Bank), private banks (HDFC, ICICI, Axis, IDFC First), and small finance banks (Unity, Jana, Suryoday, Utkarsh). Lock in high FD returns after the RBI repo rate pause. Senior citizens earn 0.45–0.70% higher. Compare medium- to long-term tenures for maximum interest.

New Delhi, Feb 21, 2026: Following the RBI’s MPC announcement and the repo rate pause, the interest rate cycle appears to have peaked. With inflation at 2% and GDP growth at 7.4%, banks are now stabilizing deposit rates.

Late February 2026 is an ideal window for investors to lock in high FD rates before anticipated rate cuts later this year.

1. Public Sector Banks (PSUs)

PSU banks remain safe havens for risk-averse investors, backed by sovereign trust and DICGC insurance (up to ₹5 lakh).

Bank Name	Highest Rate (General)	Highest Rate (Senior)	Special Tenure
SBI	6.45%	7.05%	Amrit Vrishti (444 Days)
Bank of Baroda	6.50%	7.10%	BoB Square Drive (444 Days)
PNB	6.40%	6.90%	390–444 Days
Canara Bank	6.50%	7.00%	444 Days
Union Bank	6.60%	7.10%	800 Days Special

2. Private Sector Banks (Non-PSUs)

Private banks are offering slightly higher rates to manage liquidity, especially in 18-month to 3-year tenures.

Bank Name	General Rate	Senior Rate	Notes
HDFC Bank	6.45%	6.95%	For tenures > 18 months
ICICI Bank	6.60%	7.10%	Long-term buckets (3–5 years)
Axis Bank	6.90%	7.20%	Mid-term tenures
IDFC First Bank	7.00%	7.50%	Highest in private segment

3. Small Finance Banks (SFBs)

For investors willing to take slightly higher risk, SFBs offer inflation-beating returns above 8%.

Bank Name	General Rate	Senior Rate	Notes
Unity SFB	8.50%	9.10%	Specific odd-tenure buckets
Jana SFB	7.77%	8.27%	2-year deposits
Suryoday	8.00%	8.35%	Senior-focused schemes
Utkarsh	8.00%	8.35%	Senior-focused schemes

Investor Tips: Late February 2026

Special Tenure Advantage

Higher rates are available on odd-tenure FDs like 399, 444, 666, or 999 days.
Premium can be 0.15%–0.25% above standard rates.

Tax & Compliance

TDS: Deducted if interest exceeds ₹40,000 (₹50,000 for seniors)
Form 15G/15H: Prevents TDS if your income is below taxable limits

Liquidity Consideration

Non-callable FDs lock in higher rates but limit premature withdrawal options.

Senior Citizens Benefits

Senior citizens typically earn 0.45–0.70% higher than general depositors.
Ideal for medium- to long-term tenures to maximize returns.

What RBI’s Repo Rate Pause Means for FD Investors

No immediate rate hikes for new FDs; banks are likely to keep interest rates stable.
Existing deposits continue at their original rates.
The RBI’s neutral stance reflects balanced inflation and growth outlook, limiting aggressive rate changes.

Investor Strategy

Lock in rates now before any future downward revisions.
Prefer medium- to long-term tenures (2–5 years) for higher interest.
Compare across banks; small rate differences can significantly impact returns over time.

Bottom Line

With the RBI keeping the repo rate steady, depositors should consider locking in competitive FD rates now, especially for medium-term tenures or senior citizen benefits.

Disclaimer: The information provided in this article is for informational purposes only. FD rates and schemes have been collected from publicly available sources, including bank websites and Google search. Readers are advised to verify details with the respective banks before making any investment decisions. The publisher is not responsible for any errors or financial losses.