Top Indian Banks with Competitive FD Rates Post RBI MPC Meeting

The Monetary Policy Committee, which is chaired by Reserve Bank of India Governor Sanjay Malhotra, voted unanimously to maintain the repo rate at 5.25% and to maintain a neutral policy stance.

While analyzing changes in the global and domestic environment, economists generally concur that the RBI MPC will not change for the second time. Since February of last year, the RBI has decreased interest rates by a total of 125 basis points, with the most recent rate cut occurring in December 2025.

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Following the RBI MPC meeting in April 2026, which kept the repo rate unchanged, small finance banks (SFBs) are providing the best fixed deposit (FD) rates.

Private and Other Banks:

SBM Bank India: 7.30%-7.85% (18 months-2 years)

Bandhan Bank: 7.25% (2-5 year tenure)

RBL Bank: 7.20% (18 months-3 years)

IDFC FIRST Bank: 7.4% (390 days).

Small Finance Banks (Highest Rates):

Suryoday Small Finance Bank: Up to 8.10% (1-5 year tenure).

Jana Small Finance Bank: Up to 8.00% (5 year tenure).

Utkarsh Small Finance Bank: Up to 7.50% (3 year tenure).

Ujjivan Small Finance Bank: Up to 7.45%.

Public Sector Banks:

Punjab National Bank: Up to 6.30% (3 year tenure).

State Bank of India (SBI): Up to 6.45% (2-3 year tenure).

Bank of Baroda: Up to 6.30% (5 year tenure).

(Disclaimer: Given the input is on an information basis, please seek professional advice.)