Bank FD Rates: On October 7, 2026, the Reserve Bank of India (RBI) increased the policy repo rate by 25 basis points to 5.50% during its Monetary Policy Committee (MPC) meeting. This marked the first rate increase by the central bank in 44 months, following the last hike to 6.50% in February 2023.

The repo rate represents the interest rate at which commercial banks borrow short-term funds from the RBI. Adjustments to this rate can affect the lending and deposit rates set by banks. In response to the repo rate increase, several banks have updated their fixed deposit (FD) interest rates to attract more deposits and meet their funding needs.

It’s important to note that changes to FD rates are not automatic and are determined by the individual banks. For those depositors interested in securing returns, here’s a comparison of the top FD interest rates provided by both public and private sector banks, including their rates for 1-year, 3-year, and 5-year tenures.

Which Banks Offer the Highest FD Interest Rates in November 2026?

DCB Bank offers the highest fixed deposit (FD) interest rate among Indian banks, at 7.50% per annum, followed by Bandhan Bank at 7.45%. Among public sector banks (PSBs), Bank of India and Punjab & Sind Bank lead with a maximum rate of 6.85%.

According to data, as of October 28, 2026, the highest FD rates vary depending on the deposit tenure. Among PSU banks, Bank of India offers the best 1-year rate of 6.50% and the highest 3-year rate of 6.70%, while Bank of Baroda leads in the 5-year category at 6.30%.

Among private banks, SBM Bank offers the highest 1-year FD rate of 7.10%, while City Union Bank leads the 3-year category at 7.30%. For 5-year deposits, DCB Bank offers the highest rate of 7.50%.

Overall, DCB Bank provides the highest maximum FD interest rate among public and private sector banks at the beginning of November 2026. These rates exclude senior citizen benefits and may vary depending on the deposit amount and tenure. Customers should check the respective bank’s official website for the latest rates and applicable terms and conditions.