2-year FD rates on ₹5 lakh, 33 banks compared
Last checked 3 November 2026. Card rates for a regular deposit below ₹3 crore.
ESAF Small Finance Bank pays the most for a 2-year FD at 7.75%: ₹5 lakh grows to ₹5,82,964. The best public sector rate is Bank of India at 6.70%, and SBI pays 6.40%. Picking the top rate over the lowest one in the list earns you ₹21,380 more.
Rate per year for a regular depositor, highest first.
Every bank: what ₹5 lakh earns in 2 years
Sorted by the rate for a regular depositor. The last two columns are for senior citizens (60 and above). Each bank name opens its full rate page.
| # | Bank | Rate | Interest earned | You get back | Senior rate | Senior gets back |
|---|---|---|---|---|---|---|
| 1 | ESAF Small Finance Bank Small finance bank. Slab: 24 months to 799 days, from 17 August 2026. | 7.75% | ₹82,964 | ₹5,82,964 | 8.25% | ₹5,88,708 |
| 2 | Utkarsh Small Finance Bank Small finance bank. Slab: 2 years (730 days) up to 3 years, from 1 November 2026. | 7.50% | ₹80,111 | ₹5,80,111 | 7.90% | ₹5,84,682 |
| 3 | Bandhan Bank Private. Slab: 2 years to less than 3 years, date not stated by the bank. | 7.45% | ₹79,542 | ₹5,79,542 | 7.95% | ₹5,85,256 |
| 4 | Ujjivan Small Finance Bank Small finance bank. Slab: 24 months, from 5 August 2025. | 7.45% | ₹79,542 | ₹5,79,542 | 7.95% | ₹5,85,256 |
| 5 | DCB Bank Private. Slab: 24 months to less than 25 months, from 27 October 2026. | 7.40% | ₹78,973 | ₹5,78,973 | 7.90% | ₹5,84,682 |
| 6 | Jana Small Finance Bank Small finance bank. Slab: Above 1 year to 2 years (730 days), date not stated by the bank. | 7.30% | ₹77,837 | ₹5,77,837 | 7.80% | ₹5,83,536 |
| 7 | City Union Bank Private. Slab: 556 days to 3 years, from 21 October 2026. | 7.30% | ₹77,837 | ₹5,77,837 | 7.50% | ₹5,80,111 |
| 8 | IndusInd Bank Private. Slab: 2 years to 3 years, from 30 October 2026. | 7.25% | ₹77,270 | ₹5,77,270 | 7.85% | ₹5,84,109 |
| 9 | IDFC FIRST Bank Private. Slab: 500 days to 3 years, date not stated by the bank. | 7.10% | ₹75,571 | ₹5,75,571 | 7.35% | ₹5,78,405 |
| 10 | AU Small Finance Bank Small finance bank. Slab: 18 months 1 day to 24 months, from 1 September 2026. | 7.00% | ₹74,441 | ₹5,74,441 | 7.50% | ₹5,80,111 |
| 11 | Equitas Small Finance Bank Small finance bank. Slab: 18 months 1 day to 2 years, from 16 June 2026. | 7.00% | ₹74,441 | ₹5,74,441 | 7.50% | ₹5,80,111 |
| 12 | RBL Bank Private. Slab: 18 months to less than 60 months, date not stated by the bank. | 7.00% | ₹74,441 | ₹5,74,441 | 7.50% | ₹5,80,111 |
| 13 | Yes Bank Private. Slab: 24 months to less than 35 months, from 2 June 2026. | 7.00% | ₹74,441 | ₹5,74,441 | 7.50% | ₹5,80,111 |
| 14 | Kotak Mahindra Bank Private. Slab: 2 years to less than 3 years, from 28 October 2026. | 6.75% | ₹71,624 | ₹5,71,624 | 7.25% | ₹5,77,270 |
| 15 | Bank of India Public sector. Slab: 2 years to less than 3 years, from 2 November 2026. | 6.70% | ₹71,062 | ₹5,71,062 | 7.20% | ₹5,76,703 |
| 16 | Federal Bank Private. Slab: Above 15 months to 24 months, from 1 November 2026. | 6.55% | ₹69,379 | ₹5,69,379 | 7.05% | ₹5,75,006 |
| 17 | Axis Bank Private. Slab: 2 years to less than 3 years, from 30 September 2026. | 6.50% | ₹68,819 | ₹5,68,819 | 7.00% | ₹5,74,441 |
| 18 | HDFC Bank Private. Slab: 21 months to 2 years, date not stated by the bank. | 6.45% | ₹68,260 | ₹5,68,260 | 6.95% | ₹5,73,877 |
| 19 | Indian Overseas Bank Public sector. Slab: 2 years to less than 3 years, from 15 May 2026. | 6.40% | ₹67,701 | ₹5,67,701 | 6.90% | ₹5,73,313 |
| 20 | State Bank of India Public sector. Slab: 2 years to less than 3 years, from 15 December 2025. | 6.40% | ₹67,701 | ₹5,67,701 | 6.90% | ₹5,73,313 |
| 21 | Karnataka Bank Private. Slab: 556 days to 2 years, from 8 June 2026. | 6.40% | ₹67,701 | ₹5,67,701 | 6.80% | ₹5,72,187 |
| 22 | ICICI Bank Private. Slab: 18 months to 2 years, date not stated by the bank. | 6.30% | ₹66,584 | ₹5,66,584 | 6.80% | ₹5,72,187 |
| 23 | Punjab National Bank Public sector. Slab: 667 days to 2 years, date not stated by the bank. | 6.30% | ₹66,584 | ₹5,66,584 | 6.80% | ₹5,72,187 |
| 24 | Bank of Baroda Public sector. Slab: Above 400 days and up to 2 years, from 12 June 2026. | 6.25% | ₹66,027 | ₹5,66,027 | 6.75% | ₹5,71,624 |
| 25 | Canara Bank Public sector. Slab: 2 years and above to less than 3 years, from 2 November 2026. | 6.25% | ₹66,027 | ₹5,66,027 | 6.75% | ₹5,71,624 |
| 26 | Central Bank of India Public sector. Slab: 2 years to less than 3 years, from 10 August 2026. | 6.25% | ₹66,027 | ₹5,66,027 | 6.75% | ₹5,71,624 |
| 27 | IDBI Bank Private. Slab: Above 1 year to 2 years, from 21 September 2026. | 6.25% | ₹66,027 | ₹5,66,027 | 6.75% | ₹5,71,624 |
| 28 | Bank of Maharashtra Public sector. Slab: Above 1 year to 2 years, from 14 September 2026. | 6.15% | ₹64,913 | ₹5,64,913 | 6.65% | ₹5,70,501 |
| 29 | Indian Bank Public sector. Slab: 2 years to less than 3 years, from 23 October 2026. | 6.15% | ₹64,913 | ₹5,64,913 | 6.65% | ₹5,70,501 |
| 30 | Union Bank of India Public sector. Slab: 556 days to 996 days, from 4 August 2026. | 6.15% | ₹64,913 | ₹5,64,913 | 6.65% | ₹5,70,501 |
| 31 | UCO Bank Public sector. Slab: 536 days to 2 years, from 21 May 2026. | 6.10% | ₹64,357 | ₹5,64,357 | 6.60% | ₹5,69,940 |
| 32 | Punjab & Sind Bank Public sector. Slab: 2 years to 776 days, date not stated by the bank. | 5.95% | ₹62,692 | ₹5,62,692 | 6.45% | ₹5,68,260 |
| 33 | South Indian Bank Private. Slab: Above 18 months to less than 30 months, from 19 June 2026. | 5.85% | ₹61,584 | ₹5,61,584 | 6.35% | ₹5,67,142 |
| Ref | Post Office Time Deposit, 2 years Government of India. Same rate for all ages. October-December 2026. | 7.0% | ₹74,441 | ₹5,74,441 | 7.0% | ₹5,74,441 |
Card rates for a single domestic, callable (premature withdrawal allowed) fixed deposit below ₹3 crore, booked by a resident individual, for a term of exactly 1, 2, 3 or 5 years. Each figure is the slab that contains that exact term. Special-tenure schemes such as 444 or 555 days are left out. Interest compounds every quarter and is paid at maturity, before tax. Post office interest is also compounded quarterly but paid out each year, so the figure shown is what it would reach if the yearly interest stayed invested.
Best in each group
- Public sector: Bank of India, 6.70% (7.20% for seniors). ₹5 lakh becomes ₹5,71,062.
- Private: Bandhan Bank, 7.45% (7.95% for seniors). ₹5 lakh becomes ₹5,79,542.
- Small finance bank: ESAF Small Finance Bank, 7.75% (8.25% for seniors). ₹5 lakh becomes ₹5,82,964.
- Highest for senior citizens: ESAF Small Finance Bank at 8.25%. See every bank on the senior citizen FD rates page.
Other amounts for 2 years
₹1 lakh for 2 years · ₹2 lakh for 2 years · ₹5 lakh for 2 years · ₹10 lakh for 2 years · ₹25 lakh for 2 years
Before you book a 2-year FD
Deposit insurance. DICGC insures deposits up to ₹5 lakh per depositor per bank, principal and interest together. A ₹5 lakh deposit already uses the whole cover, so the interest on top is not insured at that bank. Two deposits of ₹2.5 lakh at two banks stay fully covered.
The slab matters. Banks quote their best rate on special tenures such as 444 or 555 days. The rate for exactly 2 years can be lower. Check the slab shown for each bank above before you book.
Tax. FD interest is added to your income and taxed at your slab rate. Banks deduct TDS when your total FD interest at that bank in a financial year crosses ₹50,000, or ₹1,00,000 for senior citizens. See how rates move with the RBI repo rate.
Breaking it early. Most banks pay 0.5% to 1% less than the applicable rate if you close the deposit before maturity.
Questions people ask
Which bank gives the highest interest on a 2-year FD?
ESAF Small Finance Bank pays the highest card rate in our list at 7.75% a year (8.25% for senior citizens). A ₹5 lakh deposit there grows to ₹5,82,964 in 2 years. Among public sector banks, Bank of India pays the most at 6.70%.
How much will ₹5 lakh become in a 2-year FD?
It depends on the rate. At 6.40% (SBI) it becomes ₹5,67,701. At 7.75% (ESAF SFB) it becomes ₹5,82,964. The difference between the best and the lowest rate in our list is ₹21,380 over 2 years.
Is a 2-year bank FD better than a post office time deposit?
The post office 2-year time deposit pays 7.0% for October-December 2026 and is backed by the Government of India. 9 of the 33 banks here pay more than that to a regular depositor. Bank deposits are insured by DICGC up to ₹5 lakh per depositor per bank.
Is a ₹5 lakh FD fully insured?
Not quite. DICGC insures up to ₹5 lakh per depositor per bank, and that limit includes interest. A ₹5 lakh deposit plus its interest goes above the cover. Splitting the money across two banks keeps all of it inside the limit.
Why does the rate for exactly 2 years differ from the bank's headline rate?
Banks price each tenure slab separately, and the highest rate is often on an odd tenure such as 444 or 555 days. This page shows the rate for a term of exactly 2 years, so the slab name tells you which band your deposit falls in at each bank.
More FD rate pages
1-year FD rates · 3-year FD rates · 5-year FD rates · Senior citizen FD rates · Tax-saver FD rates · All FD rate pages · Post office FD rates · SCSS interest rate
Sources: State Bank of India deposit rates; Bank of Baroda deposit rates; Punjab National Bank deposit rates; Canara Bank deposit rates; Union Bank of India deposit rates; Bank of India deposit rates; Indian Bank deposit rates; Central Bank of India deposit rates; Indian Overseas Bank deposit rates; UCO Bank deposit rates; Bank of Maharashtra deposit rates; Punjab & Sind Bank deposit rates; HDFC Bank deposit rates; ICICI Bank deposit rates; Axis Bank deposit rates; Kotak Mahindra Bank deposit rates; IndusInd Bank deposit rates; Yes Bank deposit rates; IDFC FIRST Bank deposit rates; Federal Bank deposit rates; Bandhan Bank deposit rates; RBL Bank deposit rates; IDBI Bank deposit rates; South Indian Bank deposit rates; Karnataka Bank deposit rates; City Union Bank deposit rates; DCB Bank deposit rates; AU Small Finance Bank deposit rates; Equitas Small Finance Bank deposit rates; Ujjivan Small Finance Bank deposit rates; Jana Small Finance Bank deposit rates; Utkarsh Small Finance Bank deposit rates; ESAF Small Finance Bank deposit rates; DICGC: About us and deposit insurance cover; ICICI Bank: FD interest rates and TDS; Bandhan Bank: rates and charges, TDS on term deposits.