FD interest rates: These 7 banks offer highest rates on long-term deposits

Core Insights - The article emphasizes the importance of comparing interest rates from different banks before opening a term deposit, particularly highlighting that long-term deposits generally offer higher interest rates than short-term ones [1][2]. Interest Rates Offered by Banks - HDFC Bank offers 6.45% interest on a three-year fixed deposit, 6.25% on a one-year deposit, and 6.45% on a two-year deposit, effective from June 25, 2025. Senior citizens receive an additional 50 basis points [3]. - ICICI Bank provides 6.6% interest on three-year fixed deposits for general depositors and 7.1% for senior depositors, with one-year and two-year deposits earning 6.25% and 6.4%, respectively [4]. - Kotak Mahindra Bank offers 6.4% interest on three-year fixed deposits for general citizens and 6.90% for senior citizens, with one-year and two-year deposits at 6.25% and 6.4%, respectively, effective from August 20 [5]. - Federal Bank offers 6.4% on one-year, 6.5% on two-year, and 6.5% on three-year fixed deposits, effective from August 18, 2025 [7]. - State Bank of India (SBI) provides 6.3% interest on three-year fixed deposits for regular citizens and 6.8% for senior citizens, with one-year and two-year deposits earning 6.25% and 6.45%, respectively, effective from July 15, 2025 [7]. - Bank of Baroda offers 6.50% interest on three-year fixed deposits for regular citizens and 7% for senior citizens, with one-year and two-year deposits at 6.25% and 6.5%, effective from September 12 [8]. - Union Bank of India provides 6.6% interest on three-year term deposits for regular citizens and 7.1% for senior citizens, with one-year and two-year deposits at 6.4% and 6.5%, respectively, effective from August 20, 2025 [9]. Summary of Interest Rates for Senior Citizens - HDFC Bank: 6.95% for three-year deposits [6] - ICICI Bank: 7.1% for three-year deposits [6] - Kotak Mahindra Bank: 6.90% for three-year deposits [6] - Federal Bank: 6.9% for three-year deposits [6] - State Bank of India (SBI): 6.8% for three-year deposits [6] - Bank of Baroda: 7.0% for three-year deposits [6] - Union Bank of India: 7.1% for three-year deposits [6]