BEST FIXED DEPOSIT BANKS 2026
Explained: Why RBI’s FCNR(B) and ECB swap window could be a game changer for banks
RBI’s FCNR(B) and ECB swap windows aim to boost liquidity, stabilise the rupee and ease funding costs for banks. Attractive returns for NRIs and lower hedging costs for lenders create a win-win. Strong inflows could support credit growth, margins and offset persistent FPI outflows from Indian banking stocks.
Senior citizens FD interest rates up to 8.3%: SBI, HDFC Bank, PNB, ICICI Bank, Axis Bank and more
Highest FD interest rate: Senior citizens seeking lucrative returns on their savings can now explore attractive fixed deposit options. Small finance banks like Unity SFB and Shivalik SFB are leading the pack, offering an impressive 8.3% interest rate on FDs for this demographic. This presents a significant opportunity for retirees to boost their earnings.
Bringing in US dollars: RBI flags off FCNR(B) chase, pushes banks to go all out for forex inflows
In an ambitious bid to enhance India's foreign currency reserves, the Reserve Bank of India is urging banks to ramp up their efforts in attracting foreign currency non-resident deposits (FCNR(B)). By rolling out a series of enticing incentives for these deposits, the central bank aims to bolster dollar inflows, which will ultimately fortify the stability of the Indian rupee.
Saturday bank holiday: Are banks open or closed today on June 13, 2026?
Bank holiday today: Banks across India are closed today, Saturday, June 13, 2026, as it marks the second Saturday of the month. While physical branches are shut, customers can still access various digital banking services for fund transfers, account management, and payments.
RBI pushes banks to bring more dollars home
The push comes amid RBI measures to incentivise foreign currency inflows, including swap facilities and hedging cost support for FCNR(B) deposits, aimed at strengthening forex reserves and easing pressures on the rupee. The rupee depreciated nearly 11% last fiscal year and touched a record low of 96.96 against the US dollar in May. It closed at 95.11 on Friday.
PNB, Ujjivan raise FCNR deposit rates
Punjab National Bank and Ujjivan Small Finance Bank have raised interest rates on FCNR(B) USD deposits for Non-Resident Indians. This move follows the RBI's announcement of a foreign currency swap window. Bank of Baroda has also introduced a new retail term deposit scheme for resident Indians. These initiatives aim to attract foreign capital and offer attractive returns to depositors.
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ESAF Small Finance Bank's total business crosses Rs 50,000 cr
ESAF Small Finance Bank has achieved a significant milestone. Its total business has now surpassed Rs 50,000 crore. Deposits reached Rs 26,197 crore and advances stood at Rs 23,832 crore. The bank also reported a net profit of Rs 24 crore for the fourth quarter ended March 2026. Asset quality improved with lower NPAs.
Yes Bank sees Indians tip-toeing back to deposits
Indian households are reportedly shifting savings back to bank deposits due to weak stock markets and geopolitical concerns. This trend could benefit lenders facing intense competition for credit demand, as bank credit growth outpaces deposit increases. The move signals a potential return to traditional fixed deposits amid equity market volatility.
RHFL, RCFL bank fraud money laundering case: ED files charge sheet against Jhunjhunwala, Bapna, 52 others
The Enforcement Directorate has filed a charge sheet against former Reliance executives Amitabh Jhunjhunwala and Amit Bapna. They were arrested in April 2026 in a bank loan fraud and money laundering case. The charge sheet names 55 accused individuals. The document will be presented to a judge on July 1. The accused were remanded to judicial custody after interrogation.
Revised FCNR interest rates up to 7.13%: PNB, ICICI Bank, Axis Bank and others revise rates
FCNR interest rates: Banks are increasing interest rates on Foreign Currency Non-Resident (FCNR-B) deposits for NRIs, OCIs, and POIs. This follows the RBI's announcement to cover hedging costs for new 3 to 5-year deposits until September 2026. Axis Bank now offers up to 6% on these schemes for select tenures.
Higher crude prices fuel bank lending boom; credit growth hits 17.7%, fastest since June 2024
Bank lending saw its fastest growth in almost two years by May 31, 2026. Credit expanded significantly, reaching Rs 215.2 lakh crore. This surge occurred as bank deposits decreased by Rs 2.3 lakh crore. The gap between loans and deposits widened. Oil marketing companies and government schemes contributed to higher credit demand. Deposit growth lagged behind credit expansion.
FD interest rates up to 7.80%: These 2 banks have increased fixed deposit rates on select tenures; investors to earn more
HIghest FD interest rates: Unity Small Finance Bank and AU Small Finance Bank have revised their fixed deposit interest rates, offering enhanced returns for depositors. Unity Bank now provides 7.80% for general investors and 8.30% for senior citizens on its 501-day FD. AU Small Finance Bank has increased its 30-month FD rate to 7.40% for general customers and 7.90% for seniors.
378% return on SGB premature redemption date: This gold bond has turned Rs 1 lakh investment into Rs 4.78 lakh
The Reserve Bank of India has set the premature redemption price for Sovereign Gold Bond 2019-20 Series-I. Investors can redeem these bonds from June 11, 2026. The redemption price is fixed at Rs 15,038 per unit. This offers investors a significant return of approximately 378% on their initial investment.
Latest FCNR interest rates: HDFC Bank, SBI, ICICI Bank, PNB, Central Bank of India, BoB and more
Several Indian banks have updated their Foreign Currency Non-Resident Bank FCNR(B) interest rates. This comes after the government announced it would cover hedging costs for new 3 to 5 year FCNR(B) deposits. This initiative benefits Non-Resident Indians and others. Central Bank of India is offering a 6% interest rate on these deposits.
RBI allows banks to lend directly to REITs & InvITs, caps apply
The Reserve Bank of India now permits banks to directly fund Real Estate Investment Trusts and Infrastructure Investment Trusts. Strict rules are in place, including exposure limits and asset eligibility. These changes aim to boost credit access for income-generating trusts while ensuring financial stability. The new framework becomes effective from October 1, 2026.
FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?
FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on a $10,000, 5-year FCNR(B) deposit.
India's current account deficit to remain 1.5-1.7% of GDP in FY27 but RBI measures may turn BoP surplus: SBI Report
India's current account deficit is projected for FY27. However, Reserve Bank of India measures are anticipated to improve the country's external position. These steps aim to strengthen the Rupee and attract foreign capital. This could lead to a balance of payments surplus for FY27. Inflows are expected to boost foreign exchange reserves and banking system liquidity.
Bank stocks rally as RBI steps lift mood, trigger short covering
On Tuesday, bank stocks rocketed upwards following strategic interventions by the Reserve Bank of India aimed at shielding foreign currency loans. This move has revitalized investor confidence, propelling Bank Nifty to a remarkable close above 55,000. Many banks saw impressive gains, and experts forecast that these measures will enhance deposit growth while reducing overall funding expenses.
HDFC Bank raises MCLR by up to 10 bps across select tenors
Following the revision, the bank's MCLR, which is the lender's internal benchmark for pricing loans, stands in the range of 8.05% to 8.65%, compared with 8.05% to 8.60%, previously. The steepest increase was in the two-year tenor, where the rate was raised by 10 bps to 8.55%. The benchmark one-year MCLR, which serves as the reference rate for most retail loans including home, was increased by 5 bps to 8.40%.
Muted returns on market bets steer funds back to banks
As per RBI data, bank deposits stood at Rs 256.9 lakh crore as of May 15, 2026, registering a year-on-year growth of 12.2% - well above the 10% growth recorded in the corresponding period last year - with time deposits leading the charge, rising 12.3% to Rs 225.2 lakh crore and accounting for 87.7% of total deposits.
'Khabardar, kabhi bhi mat karna': Veteran investor Shankar Sharma says stock market isn't for common people, returns don't even beat FD
Veteran investor Shankar Sharma advises retail investors to avoid equities, arguing that markets are for professionals and that taxes and volatility erode returns. He suggests fixed deposits offer better peace of mind and risk-adjusted returns. However, some social media users and market data challenge his view, citing positive retail experiences and long-term market growth.
RBI measures likely to attract USD 55-65 billion inflows in FY27: SBI report
India anticipates USD 55-65 billion in foreign inflows this fiscal year. The Reserve Bank of India's recent measures aim to stabilize the rupee and boost the country's balance of payments. These initiatives are expected to attract more foreign capital and deepen the domestic debt market. The overall balance of payments is projected to be in surplus for FY27.
Highest FD interest rates of 5 major banks: SBI, PNB, HDFC Bank, ICICI Bank and Bank of Baroda
Despite the RBI maintaining the repo rate at 5.25%, major banks like SBI, HDFC, ICICI, PNB, and Bank of Baroda are offering competitive fixed deposit interest rates. These attractive rates, particularly for senior citizens, vary across different tenures, with some reaching up to 7.1%.
RBI offers concessional swaps, allows leverage for NRI deposits to drive forex inflows
The Reserve Bank of India has introduced new foreign exchange measures. These include special swap facilities to encourage state-owned companies to raise funds abroad. Banks can now offer leverage on foreign currency non-resident deposits. These initiatives aim to boost overseas fundraising and deposit mobilization for Indian entities.
RBI opens a dollar swap window to help hedge foreign borrowings
The Reserve Bank of India is introducing a dollar-rupee swap facility for banks. This move aims to help state-run firms and lenders hedge their foreign currency borrowings. The facility will be available at a fixed cost of 1.5% per annum. This initiative is expected to encourage significant inflows into the FCNR-B window.
RBI offers concessional swaps for PSUs, NRI deposits to drive forex inflows
The Reserve Bank of India has introduced new foreign exchange measures. These include offering special swap facilities to encourage state-owned companies to raise funds abroad. The RBI will also provide swap facilities for foreign currency non-resident deposits. These measures aim to support fundraising efforts and are effective immediately with specific end dates.
FD interest rate up to 8.05%: 4 banks that revised FD interest rates in June 2026
Fixed deposit investors are watching interest rates closely. Several banks have revised their FD rates in June 2026. Savers can lock in attractive returns with some banks offering up to 8% interest to senior citizens on select tenures.
RBI MPC Meeting 2026: Will FD interest rates increase as RBI holds repo rate?
Despite the RBI keeping the repo rate unchanged, several factors suggest banks may increase fixed deposit rates soon. Rising inflation, a high deposit-credit ratio, and attractive small savings schemes are pushing banks to offer better returns to attract investors after a period of low FD rates.
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