Fixed deposits (FDs) continue to be a popular investment option for people looking for predictable returns and relatively stable savings. Following changes in the Reserve Bank of India’s monetary policy, several banks have revised their deposit interest rates to attract customers and strengthen their deposit base.
On October 7, 2026, the Reserve Bank of India (RBI) increased the repo rate by 25 basis points to 5.50% during its Monetary Policy Committee (MPC) meeting. This was the first increase in the policy rate in 44 months. The previous increase had taken the repo rate to 6.50% in February 2023.
The repo rate is the interest rate at which commercial banks borrow short-term funds from the RBI. Changes in this rate can influence the interest rates banks offer on loans and deposits. However, FD interest rates are decided individually by banks and do not necessarily change automatically following a repo rate revision.
Let’s take a look at the banks offering competitive FD returns in November 2026.
Which Banks Offer the Highest FD Interest Rates in November 2026?
Among Indian banks, DCB Bank is offering the highest maximum FD interest rate of 7.50% per annum. Bandhan Bank follows closely with an interest rate of up to 7.45%.
Among public sector banks (PSBs), Bank of India and Punjab & Sind Bank are offering the highest rates, reaching up to 6.85%.
The actual interest rate available to depositors depends on the selected investment period and the bank’s applicable terms and conditions.
Best FD Rates Offered by Public Sector Banks
For investors considering government-owned banks, the highest returns vary across different FD tenures.
According to the available rate data as of October 28, 2026:
- 1-year FD: Bank of India offers the highest interest rate of 6.50%.
- 3-year FD: Bank of India leads with a rate of 6.70%.
- 5-year FD: Bank of Baroda offers the highest rate of 6.30%.
These rates provide a comparison for customers looking to invest in fixed deposits with public sector banks.
Private Banks Offering Attractive FD Returns
Private sector banks are offering comparatively higher interest rates across several deposit periods.
The leading banks in different FD categories are:
- 1-year FD: SBM Bank offers an interest rate of up to 7.10%.
- 3-year FD: City Union Bank provides the highest rate of 7.30%.
- 5-year FD: DCB Bank leads with an interest rate of 7.50%.
Overall, DCB Bank has the highest maximum FD interest rate among the public and private sector banks considered in this comparison for November 2026.
Important Things to Check Before Opening an FD
Before investing in a fixed deposit, customers should compare interest rates across different banks and carefully select a tenure that matches their financial requirements.
It is also important to remember that the rates mentioned above do not include additional benefits offered to senior citizens. Actual returns may differ depending on the deposit amount, investment period and applicable bank policies.
Since banks can revise their FD rates from time to time, customers should check the latest interest rates on the respective bank’s official website before making an investment decision.
Disclaimer: This article is intended for general informational purposes only and should not be considered financial or investment advice. FD interest rates are subject to revision and may vary according to bank policies, deposit tenure and other applicable conditions. Readers should verify the latest rates directly with the respective banks before investing.