Best Interest Rates on Savings and Term Deposits 2023

 Savings Account Interest Rates

1. Utkarsh :     4.25 upto 1 L,         6.5 beyond 1 L
2. RBL Bank:  4.25 upto 1 L,         5.5 1 to 10 L  [[21-Aug-2023]
3. Fincare:      3.51 upto 1 L,         6.1 1 to   5 L
4. Jana Bank: 3.5   upto 1 L,         5    1 to   5 L, 7.5% beyond 5 L [2-Sept-2023]
5. Suryodaya: 3.5   upto 1 L,         5    1 to   5 L, 6% beyond 5 L [2-Sept-2023]
6. AU Bank:    3.5   upto 1 L,         5    1 to   5 L
7. Bandhan:    3      upto 1 L,         6    1 to 10 L
8. IDFC First:  4      upto 10L
9. Yes Bank:   4%   upto 1 L
10. IndusInd:    4%   upto 10 L
11. IDBI Bank:  3%
12. HDFC:        3% up to 50 L
13. ICICI:          3% up to 50 L
14. Union Bank: 2.9%
15. SBI:              2.7% 
16. Bank of Baroda: 2.75% 
17. Karur V :       2.25%

Term Deposit Rates: Senior Citizens (General)

Small Finance Banks

1. Unity Small : 9.5% (9%) [Not in TS] [Aug]
2. North East Small Finance Bank: 9.25% (8.5%) for 555 days or 1111 days [Only North East]
3. Fincare Bank: 9.21% (8.61) for 750 days [28-Oct-2023]
4. Suryodaya Small Finance Bank: 9.1% (8.6) for 2-3 yrs (7-Aug-2023)
5. Utkarsh: 9.1 % (8.5%) for 2-3 yrs (Aug)
6. ESAF: 9% for 2-3 yrs days [14-April-2023]
7. Equitas Small Finance Bank: 9% (8.5%) for 2-3y [July 2023]
8. Jana Bank: 9% (8.5%) for 2-3 yrs, (4 Nov)
9. Ujjivan: 8.75 (8.25) for 75 months [Not in TS] [1 June]
10. Shivalik small finance bank: 8.5% (8%) 18 months -3 yrs [Not in TS] 
11. AU Bank: 8.5% (8.0) for 2 - 3 years (16-Aug-2023)
12. Capital Small finance bank: 8% (7.5) for 12 months [North India only] [April 5, 2023]

Other Banks: Senior Citizen (Non-seniors)

1. RBL Bank: 8.50% (8.0) for 18-24 months [26 Nov]
2. Bandhan Bank: 8.35% (7.85%) for 500 days [5 July]
3. IndusInd Bank: 8.25% (7.85%) for for 1 y 6 M to 1 Y 7M [1 Oct]
4. Idfc First Bank: 8.25% (7.75%) for 549 D - 2 y [2 Nov]
5. Yes Bank: 8.25 (7.75) for 18 M to 24 M [21-Nov]
6. Karur V Bank: 8 % (7.5%) for 444 days [1-Sept]
7. Axis Bank: 7.75 (7.1%) for 5 - 10 y [12-Oct]
8. HDFC Bank: 7.75% (7.15%) for  5 - 10 y [1-Oct]
9. Canara Bank: 7.75% (7.25%) for 444 days [01-June]
10. Indian Overseas Bank: 7.75% (7.25) for 444 days [06-June]
11. ICICI Bank: 7.65% (7.1) for above 15 m - 2 Y [Oct-23]
12. Bank of Baroda: 7.55% (7.05) for 2-3 y [May-2023]
13. Union Bank of India: 7.5% (7%) for 399 days [01-June]
14. SBI: 7.5%  (7%) 2-3 y [Feb-2023]
15. IDBI Bank: 7.5% (7%) for 2-3 y [12-Nov]

List of Bank in India

DICGC

Other Long Term Options with Lock in

1. PMVVY: 7.6% Lock in of 10 yrs [Scheme discontinued]
2. Senior Citizens Savings Scheme: 8.2%
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)