Best Interest Rates on Savings and Senior Citizen Term Deposits 2023

 Savings Account Interest Rates

1. Jana Bank: 3.5% for upto 1 L, 7% beyond 1 L [15-Feb-2023]
2. Suryodaya: 4% upto 1 L, 6.25 beyond 1 L
3. RBL Bank: 4.25 for upto 1L, 5.5% for amount between 1 to 10 L
4. Bandhan Bank: 5% for amount between 1 to 10 L
5. IDFC First Bank: 4% for balance between 0 to 10 L (Progressive)
6. IndusInd Bank: 4% for balance up to 10 L
7. AU Bank: 3.5% for upto 1 L, 5% balance between 1 L to 5 L
8. IDBI Bank: 3%
9. HDFC Bank: 3% up to 50 L
10. ICICI Bank: 3% up to 50 L
11. Union Bank of India: 2.9%
12. SBI: 2.7% 
13. Bank of Baroda: 2.75% 
14. Karur V Bank: 2.25%

Term Deposit Rates (Senior Citizens)

Small Finance Banks

1. Unity Small : 9.5% [Not in TS]
2. Utkarsh: 9 % for 700 days (27-Feb-2023)
3. Jana Bank: 8.8% for 2-3 yrs, 8.20 for 1-2 yrs, (1-Feb-2023)
4. Suryodaya Small Finance Bank: 8.76 % for 999 days (1-Mar-2023)
5. Ujjivan: 8.75 for 75 months [Not in TS]
6. Fincare Bank: 8.71% for 750 days [16-Feb-2023]
7. ESAF: 8.6% for 999 days [15-Feb-2023]
8. North East Small Finance Bank: 8.5% for 1111 days [Only North East]
9. Shivalik small finance bank: 8.5% 18 months -3 yrs [Not in TS]
10. Equitas Small Finance Bank: 8.5% for 888 days
11. AU Bank: 8.5% for 2 years (3-Mar-2023)
12. Capital Small finance bank: 8.15% for 900 days [North India only]

Other Banks

1. Bandhan Bank: 8.5% for 600 days, 601 days to 2 yrs 7.75% [3 March]
2. RBL Bank: 8.30% for 453 days [Jan]
3. Idfc First Bank: 8.25% for 367 days to 3 yrs [1 Mar]
4. IndusInd Bank: 8.25% for for 2yr to 3 yrs 3 months []
5. Yes Bank: 8.25 for 35 months []
6. Axis Bank: 8.01 for 2y and above []
7. Karur V Bank: 8 % for 444 days [20-Feb]
8. Union Bank of India: 7.8% for 599 days []
9. HDFC Bank: 7.75% for  5 to 10 yrs [19-Mar-23]
10. Canara Bank: 7.65% for 400 days []
11. ICICI Bank: 7.6% for above 15 months [Feb-23]
12. Bank of Baroda: 7.55% for 390 days []
13. IDBI Bank: 7.5% for 549 days to 3 yrs []
14. SBI: 7.5% 2 - 3 yrs [12-Feb-23]
15. Indian Overseas Bank: 7.5% for 444 days []

List of Bank in India

Other Long Term Options with Lock in

1. PMVVY: 7.6% Lock in of 10 yrs
2. Senior Citizens Savings Scheme: 7.4%
3. RBI Floating Rate: 7.15% [You can invest online via HDFC]
4. Public Provident Fund: 7.1 % Lock in of 15 yrs and 5 yrs thereafter (Best due to EEE taxation in-spite of low rate)