Diwali investment: FD rates rise to 8.60% - which banks offer the highest returns to seniors in November 2026?
HDFC Bank moved higher with November 4 in focus.
· Business Today Mkts
HDFC Bank revised its FD rates effective November 4, increasing interest by up to 50 basis points (bps) on select tenures. ICICI Bank and Punjab National Bank (PNB) have also revised their rates, while Kotak Mahindra Bank, Axis Bank and small finance banks have announced changes.
Key facts
- Dates in focus
- November 4
The analysis
HDFC Bank reported movement of 8.60% and 50 basis points. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +3.7% on the day at ₹788.25, and has returned +7.3% over three months. It sits 22% below its 52-week high. The banks sector has moved -2.8% over the same period, so HDFC Bank is running 10.1 points ahead of its peers.
With HDFC Bank, ICICI Bank and Punjab National Bank all implicated, this reads as a Banks-level move rather than a company-specific one, which is the more durable kind of signal.
Market context
- 5 of the 5 companies named are in Banks, so the story reads across that sector rather than for one company.
- On the day, 5 of 5 are higher: ICICI Bank leads at +4.8% and Punjab National Bank trails at +0.4%.
- Over three months: HDFC Bank +7.3% against Banks -2.8% (10.1 points ahead); ICICI Bank +7.8% against Banks -2.8% (10.6 points ahead); Punjab National Bank +10.7% against Banks -2.8% (13.5 points ahead); Kotak Mahindra Bank +21.8% against Banks -2.8% (24.6 points ahead).
- Trading well above normal today: HDFC Bank at 2.1 times its 20-day average volume and ICICI Bank at 2.7 times its 20-day average volume.
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| HDFC BankHDFCBANK · Banks | ₹788.25 | +3.7% | +10.8% | +7.3% | -21.9% | 2.1× | — |
| ICICI BankICICIBANK · Banks | ₹1,571.20 | +4.8% | +17.0% | +7.8% | 0.0% | 2.7× | — |
| Punjab National BankPNB · Banks | ₹126.55 | +0.4% | +13.1% | +10.7% | -4.4% | 1.0× | — |
| Kotak Mahindra BankKOTAKBANK · Banks | ₹480.00 | +2.8% | +11.1% | +21.8% | 0.0% | 1.0× | — |
| Axis BankAXISBANK · Banks | ₹1,322.90 | +3.4% | +6.0% | +5.3% | -5.7% | 1.3× | — |
Banks
1M +2.0% · 3M -2.8%
HDFC Bank, ICICI Bank, Punjab National Bank, Kotak Mahindra Bank, Axis Bank
Prices as of 6 Nov 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
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