Top Fixed Deposit Schemes in India^~

Different Types of FD Schemes

Below are the top fixed deposit schemes offered by public sector, private sector banks, NBFCs and SFBs. In 2026, NBFCs and SFBs continue to offer interest rates that are typically 1% to 2% higher than traditional bank FDs, though they carry a slightly higher risk as they are not covered by DICGC insurance.

Top NBFCs FD Schemes 2026

Here are a few high-return companies with their FD schemes and Credit ratings –

1. Shriram Finance (AA+ by ICRA)

   Shriram Finance remains a top pick for retail investors seeking a mix of high returns and semi-government backing. It is particularly popular for its renewal benefits (an extra 0.25%) and special perks for women depositors.

   • Key Feature: Interest is compounded monthly, leading to a higher yield at maturity compared to quarterly compounding.
   • Flexibility: Allows a low entry point of just ₹5,000.

2. Bajaj Finance (AAA by CRISIL)

   Bajaj Finance is considered the gold standard for corporate deposits due to its AAA rating and book size. It is the most technologically advanced, allowing you to open and manage FDs entirely through a mobile app.

   • Safety Level: Highest degree of safety; historically never defaulted on interest or principal payments.
   • Key Feature: Offers a Systematic Deposit Plan (SDP), which works like a Mutual Fund SIP but for a Fixed Deposit.

3. Mahindra Finance (AAA by CRISIL)

   Mahindra Finance is a part of the Mahindra Group. This scheme is ideal for conservative investors who prioritise brand trust. It is well-known for its Samruddhi (physical) and Dhanvruddhi (online) schemes with high interest rates.

   • Safety Level: Rated AAA, indicating very low credit risk.
   • Key Feature: Offers an additional 0.10% bonus for Mahindra Group employees and their relatives.

4. Muthoot Capital (A+ by CRISIL)

   Muthoot Capital provides the highest interest rates on this list to compensate for its lower credit rating (A+) compared to AAA-rated giants. It is suited for investors with a slightly higher risk appetite.

   • Key Feature: Flexible interest payout options, including monthly, quarterly, and annual plans for regular income seekers.
   • Risk Note: Being A+ rated, it is more susceptible to market conditions than AAA companies.

5. ICICI Home Finance (AAA by CRISIL)

   A subsidiary of ICICI Bank, this HFC (Housing Finance Company) provides the security of a large banking ecosystem. It is a solid "set-it-and-forget-it" option for long-term growth.

   • Safety Level: AAA rating ensures your principal is as secure as possible in the corporate world.
   • Key Feature: Extremely low minimum deposit of ₹1,000 for cumulative schemes, making it highly accessible.

FD interest have fallen consistently over the last 5 years.

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Top SFBS FD Schemes in India

Below are the best FD schemes by Small Finance Banks with their interest rates in 2026:

1. AU Small Finance Bank Regular FD Scheme:

   AU Small Finance Bank provides a high alternative to traditional banks. Their regular FD schemes allow for a low entry point of just ₹1,000 and offer the choice between callable and non-callable deposits. Investors benefit from multiple payout options and the convenience of booking instantly via Video KYC or the AU 0101 app.

2. Ujjivan Small Finance Bank:

   Ujjivan Small Finance Bank offers scheme solutions like the Platina FD, which provides higher interest for non-callable deposits, and Tax Saver FDs for Section 80C benefits. Their Digital FD allows for instant, paperless booking via Video KYC, while the Sampoorna Nidhi scheme is designed for those needing a regular monthly income.

3. Equitas Small Finance Bank FD Scheme:

   Equitas Small Finance Bank offers a seamless "Selfe" digital platform for both Savings Accounts and Fixed Deposits, prioritising speed and high returns. Their Selfe Fixed Deposit allows you to start with a minimum of ₹50,000 and offers attractive rates, such as 7.20% for regular individuals and 7.70% for senior citizens on an 888-day tenure.

4. Jana Small Finance Bank FD Scheme:

   Jana Small Finance Bank provides specialised options like the Liquid Plus FD, which offers same-day (T+0) redemption and partial withdrawals with no exit load. For larger investments, the FD Plus scheme grants premium benefits for non-callable deposits, while the Tax Saver FD helps you secure Section 80C deductions. Since these unique product features are often compared against general FD rates.

5. Suryoday Small Finance Bank FD Scheme:

   Suryoday Small Finance Bank offers high-growth options like the Non-Callable FD, which provides a 0.25% interest premium for investors willing to forgo premature withdrawal. For long-term savers, their Tax Saver FD secures Section 80C deductions with a mandatory 5-year lock-in, while the Regular FD caters to shorter goals with tenures starting from just 7 days.

Major Banks Fixed Deposit Schemes

Bank Fixed Deposits are low-risk investment options that are offered by banks and non-banking financial companies (NBFCs). While FD interest rates fluctuate based on the RBI's monetary policy. Every depositor is insured by the DICGC for up to ₹5 Lakh.

1. SBI – Amrit Vrishti (444 days)

   The State Bank of India is the gold standard for safety in the Indian market. The Amrit Vrishti 444 day tenure offers the highest current interest rate up to 6.45% p.a. for the general citizens, 6.95% p.a. for the senior citizens and 7.05% for the super senior citizens.

2. IDBI Bank – Suvidha Tax Saving FD

   This is the primary choice for investors looking to reduce their tax liability. The tax benefits under this are up to ₹1.5 Lakh under Section 80C of the IT Act, with a mandatory 5-year lock-in with no premature withdrawal. Currently fixed rate is 6.25% for the general and 6.75% for the senior citizens for the 5-year term.

3. PNB Uttam (Non - Callable Deposit Scheme)

   PNB Uttam is a specialised Fixed Deposit scheme from Punjab National Bank designed for high-value investors with higher returns over liquidity. The "Non-Callable" feature means that you contractually agree not to withdraw the funds before the maturity date. It offers the highest interest rate on it’s 390 day tenure upto 6.45% for general citizens, 6.95% for senior citizens and 7.25% for super senior citizens.

4. ICICI Bank - Money Multiplier Scheme

   The ICICI Money Multiplier Scheme is a "Flexi-Deposit" that bridges the gap between a savings account and a fixed deposit. It is designed for those who want the high interest of an FD but don't want their money "locked away" in case of an emergency. The ICICI Money Multiplier Scheme is also known as the sweep-out FD.

*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

1. Axis Bank - Digital FD Scheme

   The Axis Bank Digital Fixed Deposit, which is often referred to as Express FD. It is a tech-first investment product designed for instant booking. Its primary appeal is that it allows even non-Axis Bank customers to open an FD without needing a savings account at the bank. The digital fd carries the same rates as Axis FD interest rates.

   Note: Bank FDs are significantly safer than corporate FDs, which, while offering higher interest, are subject to the company's credit default risk.

Post Office FD Scheme

The Post Office Fixed Deposit, known as a Time Deposit offering complete capital safety and guaranteed returns. Available in tenures of 1, 2, 3, and 5 years, with interest rates up to 7.5%. Key features include a low starting deposit of ₹1,000, quarterly compounding with annual payouts, and a tax deduction of up to ₹1.5 lakh under Section 80C for the 5-year tenure. Unlike many banks, the Post Office does not offer a higher rate for senior citizens, but it remains one of the most accessible and secure ways to grow your wealth.

Wrapping Up

Choosing the right fixed deposit depends entirely on the individual risk appetite. While traditional FDs like SBI and the Post Office offer unmatched sovereign-backed security, Small Finance Banks and high-rated NBFCs like Bajaj Finance provide a necessary boost to overall growth with higher interest margins. Whether you prioritise the emergency liquidity of a "sweep-in" facility or the tax-saving benefits of a five-year lock-in, the variety of specialised schemes ensures there is a fit for every financial goal. The public sector and private sector banks provide their best FD schemes for individuals to gain maximum benefits.