FD Interest Rates 2026: PNB, Canara Bank and BOI Offer Up to 7.35% Interest to Senior Citizens, Check Latest Rates
FD Interest Rates November 2026: Fixed deposits remain a popular savings option among investors who prefer predictable returns and relatively low risk. For senior citizens who depend on interest income to manage their regular expenses, even a small increase in fixed deposit interest rates can make a meaningful difference.
Two major public sector banks, Punjab National Bank (PNB) and Canara Bank, have revised their fixed deposit interest rates effective November 2026. Following the changes, Canara Bank is offering up to 7.25% annual interest to senior citizens, while PNB is offering up to 7.10% on selected deposit tenures.
Meanwhile, Bank of India (BOI) is offering an even higher reported rate of 7.35% to eligible senior citizens under its special 500-day Akshay Deposit Scheme.
According to a Live Hindustan report published on November 4, 2026, the revised interest rates apply to eligible domestic fixed deposits of less than ₹3 crore.
Here is a detailed comparison of the latest FD rates, special deposit schemes and important factors investors should consider before opening a fixed deposit.
Canara Bank FD Rates 2026: Up to 7.25% Interest for Senior Citizens
Canara Bank revised interest rates on selected fixed deposit tenures with effect from November 2, 2026.
According to the reported changes, the bank increased certain FD rates by up to 15 basis points, equivalent to 0.15 percentage points.
The most attractive option highlighted in the report is Canara Bank's special 555-day fixed deposit.
Under this scheme, regular customers can earn 6.75% annual interest, compared with the previous rate of 6.60%.
Senior citizens can receive 7.25%, up from the earlier rate of 7.10%.
The bank also offers a special 444-day deposit with interest rates of 6.65% for regular customers and 7.15% for senior citizens.
Canara Bank Latest FD Interest Rates
| FD Tenure | Regular Customers | Senior Citizens |
|---|---|---|
| 7–45 Days | 3.00% | Check applicable bank terms |
| 46–90 Days | 4.00% | Check applicable bank terms |
| 91–179 Days | 4.25% | Check applicable bank terms |
| 180–269 Days | 5.25% | 5.75% |
| 270 Days to Less Than 1 Year | 5.50% | 6.00% |
| 1 Year to 15 Months (Excluding 444 Days) | 6.40% | 6.90% |
| 444 Days Special FD | 6.65% | 7.15% |
| 555 Days Special FD | 6.75% | 7.25% |
| 2–10 Years | 6.25% | 6.75% |
The 555-day scheme offers the highest rate among the Canara Bank tenures highlighted in the report.
However, investors should verify the applicable interest rate and deposit conditions before investing, as banks may revise rates without waiting for a new financial year.
Punjab National Bank FD Rates 2026: 444-Day Scheme Offers 7.10%
Punjab National Bank introduced revised fixed deposit interest rates effective November 1, 2026.
The bank's special 444-day fixed deposit offers 6.60% annual interest to regular depositors and 7.10% to eligible senior citizens.
PNB also offers a 666-day fixed deposit scheme with rates of 6.50% for regular customers and 7.00% for senior citizens.
For investors who prefer a standard one-year deposit, PNB offers 6.25% to regular customers and 6.75% to senior citizens, according to the report.
PNB Latest FD Interest Rates
| FD Tenure | Regular Customers | Senior Citizens |
|---|---|---|
| 7–14 Days | 3.00% | 3.50% |
| 15–45 Days | 3.00% | 3.50% |
| 46–90 Days | 5.50% | 6.00% |
| 91–179 Days | 5.75% | 6.25% |
| 180–270 Days | 6.00% | 6.50% |
| 1 Year | 6.25% | 6.75% |
| 444 Days Special FD | 6.60% | 7.10% |
| 666 Days Special FD | 6.50% | 7.00% |
| 2–3 Years | 6.30% | 6.80% |
PNB's 444-day deposit is particularly relevant for investors seeking a tenure slightly longer than one year.
However, investors should compare the interest rate with their liquidity requirements rather than selecting a scheme solely because it offers a higher return.
Bank of India FD Rates: 500-Day Akshay Deposit Offers 7.35%
Bank of India has also revised interest rates on selected fixed deposit tenures.
According to the report, the bank's 500-day BOI Akshay Deposit Scheme offers an annual interest rate of 7.35% to eligible senior citizens.
This is higher than the maximum senior citizen rates highlighted for Canara Bank and Punjab National Bank.
Special FD Schemes Compared
| Bank | Special FD Tenure | Senior Citizen Interest Rate |
|---|---|---|
| Canara Bank | 555 Days | 7.25% |
| Punjab National Bank | 444 Days | 7.10% |
| Bank of India | 500 Days | 7.35% |
| Canara Bank | 444 Days | 7.15% |
| Punjab National Bank | 666 Days | 7.00% |
These are annual interest rates reported for November 2026. Actual returns depend on the applicable compounding method, deposit terms and eligibility.
FD Calculator: How Much Interest Can You Earn on ₹1 Lakh?
To understand how the difference in interest rates affects returns, consider an investment of ₹1 lakh.
The following calculations show approximate interest earned over one year using simple annual interest, purely for comparison.
| Annual Interest Rate | Approximate Interest on ₹1 Lakh |
|---|---|
| 7.00% | ₹7,000 |
| 7.10% | ₹7,100 |
| 7.15% | ₹7,150 |
| 7.25% | ₹7,250 |
| 7.35% | ₹7,350 |
These figures are illustrative and do not represent the maturity value of the special 444-day, 500-day or 555-day schemes.
Actual FD maturity proceeds may differ because of deposit duration, compounding frequency, payout option and applicable taxes.
Why Do Senior Citizens Receive Higher FD Interest Rates?
Banks commonly provide additional interest to eligible senior citizens on certain domestic fixed deposits.
In many cases, this benefit is approximately 0.50 percentage points above the rate offered to regular customers.
For example, if a regular depositor receives 6.75%, an eligible senior citizen may receive 7.25% on the same tenure.
However, the additional interest benefit is subject to the bank's age eligibility rules, deposit category and other conditions.
Some banks may also offer separate benefits to super senior citizens, depending on their policies.
Investors should confirm eligibility with the bank before opening a deposit.
Are Fixed Deposits Completely Risk-Free?
Fixed deposits offered by established banks are generally considered relatively low-risk savings products because they provide predetermined interest rates and repayment terms.
However, they should not be described as entirely risk-free.
In India, eligible bank deposits are covered by deposit insurance provided through the Deposit Insurance and Credit Guarantee Corporation (DICGC), subject to applicable conditions.
The insurance limit is ₹5 lakh per depositor per bank, including eligible principal and interest.
Deposits held in different branches of the same bank are aggregated for the purpose of this limit when held in the same capacity and right.
Therefore, investors placing large amounts in fixed deposits should understand the applicable deposit insurance coverage.
Important Things to Check Before Opening an FD
Before selecting a fixed deposit, investors should examine the complete terms of the scheme.
Interest Rate: Compare the rates available for different tenures and customer categories.
Deposit Duration: Ensure that the maturity date matches your financial requirements.
Premature Withdrawal: Some fixed deposits may attract penalties if withdrawn before maturity. Special schemes may have additional restrictions.
Interest Payout: Check whether interest is payable monthly, quarterly, at maturity or through another available option.
Taxation: FD interest is generally taxable according to the investor's applicable income-tax provisions. Tax deducted at source may apply when statutory conditions are met.
Bank Eligibility Rules: Senior citizen benefits, minimum deposit amounts and other conditions may vary between banks.
Investors should also remember that the highest interest rate does not necessarily make a particular fixed deposit the most suitable option for every individual.
Where to Check Official FD Interest Rates
Customers can verify the latest rates through the banks' official websites:
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Canara Bank: https://canarabank.com
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Punjab National Bank: https://pnb.bank.in
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Bank of India: https://bankofindia.co.in
Interest rates can change, so the rate applicable on the date of booking should be confirmed directly with the bank.
Final Thoughts
The latest fixed deposit rate revisions by public sector banks provide additional options for investors seeking predictable returns.
According to the November 2026 report, Canara Bank offers up to 7.25% interest to senior citizens on its 555-day special FD, while Punjab National Bank offers up to 7.10% on its 444-day scheme.
Bank of India's 500-day Akshay Deposit Scheme offers a higher reported senior citizen rate of 7.35%.
However, choosing an FD should involve more than comparing interest rates. Investors should also consider deposit tenure, liquidity, premature withdrawal rules, taxation and deposit insurance coverage.
Before investing, customers should verify the latest interest rates and scheme conditions through the relevant bank's official website or branch.