FD rates: Bank of Baroda, IOB and Federal Bank raise rates from 10 to 12 November 2026
Bank of Baroda's 555-day FD now pays 6.85%, IOB's 444-day FD 6.75% and Federal Bank pays seniors up to 7.50%. New rates and what changes for you.
More banks changed their fixed deposit (FD) rates this week, following the RBI repo rate rise to 5.5% on 7 October 2026. Our earlier FD guide covers HDFC Bank, PNB and IDFC FIRST Bank. This guide covers three more banks. We could not open these banks' own rate pages, so the figures below are from news reports of the banks' announcements, named in each section. Check the bank's page before you book. All rates are per year for deposits below ₹3 crore.
Bank of Baroda: 555-day FD, from 12 November 2026
Bank of Baroda raised the rate on its special 555-day "bob Golden Goal Deposit Scheme" by 0.10 percentage points, according to The Hindu BusinessLine. The new rates are:
- General customers, including NRO and NRE accounts: 6.85% on callable deposits and 6.90% on non-callable deposits.
- Senior citizens: 7.35% callable and 7.40% non-callable.
- Super senior citizens (80 years and above): 7.45% callable and 7.50% non-callable.
Rates on the bank's other tenures did not change. Moneycontrol reported 11 November as the start date, while BusinessLine and Business Standard report 12 November.
Indian Overseas Bank: 444-day FD, from 10 November 2026
IOB raised its special 444-day deposit by 0.15 percentage points, to 6.75% from 6.60% for general depositors, according to CNBC-TV18. Senior citizens get 7.25% and super senior citizens 7.50%. The 444-day NRE deposit also moved to 6.75%. Moneycontrol reported that IOB cut the rate on deposits of 180 to 269 days by 0.25 percentage points, to 4.50% from 4.75%. Other tenures are unchanged.
Federal Bank: more for senior citizens, from 12 November 2026
Federal Bank raised the extra interest it pays senior citizens to 0.60 percentage points from 0.50, as reported by Moneycontrol and CNBC-TV18. This applies to deposits of 18 months and of 2 years to under 3 years. Senior citizens get 7.40% on deposits with premature withdrawal, and 7.50% on deposits of ₹1 crore and above without that facility. General customers, including NRIs, get 6.80% and 6.90% on the same options. The bank says the effective yield for a 35-month deposit can reach 8.18% for seniors.
Other banks that changed rates
Business Standard and ETBFSI reported that Canara Bank (555 days, 6.75% from 2 November), Indian Bank (555 and 777 days, 6.80% and 6.75% from 23 October) and Kotak Mahindra Bank (up to 6.80%) also raised some rates, and that ICICI Bank and Axis Bank revised their rate cards. Business Standard also reported that SBI, HDFC Bank, PNB, Bank of India, Indian Bank, Canara Bank and Bank of Baroda raised their MCLR (the older loan benchmark) by 0.05 to 0.20 percentage points in October and November.
What this means for you
A higher rate applies only to a new FD or a renewal. If you already hold an FD, your rate stays the same until it matures. The best rates are on special tenures such as 444, 555 or 777 days, so a few days' difference can change your return. Interest on an FD is taxable, and the bank may deduct TDS. Bank deposits are insured by DICGC up to ₹5 lakh per depositor per bank. Compare banks on our FD rates page. The reason for the rise is explained in our repo rate guide.
This is general information, not advice to deposit money with any bank.
Sources: The Hindu BusinessLine: Bank of Baroda raises rates on 555-day deposit scheme, CNBC-TV18: Indian Overseas Bank revises fixed deposit rates, Moneycontrol: Bank of Baroda and Indian Overseas Bank revise FD rates, Moneycontrol: Federal Bank raises senior citizen FD interest rates, CNBC-TV18: Federal Bank hikes FD interest rates for senior citizens, Business Standard: Banks raise deposit rates after RBI's Oct repo hike, ETBFSI: Large banks raise FD rates by up to 50 bps.
Rules, rates and limits change. Check the official source linked above before you rely on a figure here. Posts never contain referral or affiliate links from the writer.
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