FD interest rates Nov 2026: Suryoday SFB offers 8.60%; check latest fixed deposit rates of Kotak, Axis, Canara, Utkarsh

Banks Revise FD Rates After Repo Hike

Several banks have raised fixed deposit interest rates in November 2026, following the Reserve Bank of India's decision to increase the repo rate by 25 basis points to 5.50 per cent at its 7 October monetary policy review. The revisions span private banks, public sector banks and small finance banks, with senior citizens generally offered higher rates than other depositors. Kotak Mahindra Bank, Axis Bank, Canara Bank, Suryoday Small Finance Bank and Utkarsh Small Finance Bank are among the lenders whose updated rates are available for comparison this month. The applicable rate depends on tenure, customer category and scheme conditions.

Where The Banks Stand

Kotak Mahindra Bank revised rates on select tenures from 4 November 2026. General customers can earn a maximum of 6.80 per cent on deposits of two years to under three years, regardless of whether the amount is below or above ₹3 crore. Senior citizens can earn up to 7.55 per cent on the same tenure for deposits below ₹3 crore, while deposits of ₹3 crore and above attract 6.80 per cent. Earlier, the bank's maximum was 6.75 per cent for general customers and 7.25 per cent for senior citizens.

Axis Bank revised rates from 29 October 2026, offering general customers up to 6.60 per cent on tenures of two years to 10 years, and senior citizens up to 7.35 per cent on five to 10 years. Canara Bank's revision, effective 2 November 2026, applies to deposits below ₹3 crore. Its highest rate is 6.75 per cent for general customers on the 555-day special FD, with senior citizens eligible for 7.25 per cent. On the 444-day scheme, the rates are 6.65 per cent and 7.15 per cent respectively. For two years to under five years, and five to 10 years, the bank offers 6.25 per cent to general customers and 6.75 per cent to senior citizens.

Small Finance Banks Lead

Suryoday Small Finance Bank revised rates from 30 October 2026, with special rates for eligible deposits below ₹3 crore. General c…