Renewals
FD renewal checklist: what to check before rolling over a deposit
Before renewing an FD, compare the current market instead of accepting the old product by default.
Updated 2026-05-04 · 5 min read
Compare rates on the renewal date
An FD renewal decision should use current rates, not the rate you received when the deposit was opened.
Check the same tenure across multiple banks and confirm whether your current bank is still competitive.
Review the payout type again
Your cash flow needs may have changed since the first deposit. A monthly product may now make more sense, or a maturity payout may be better if you do not need income.
Use the calculator to compare the expected interest for your new amount and tenure.
Frequently asked questions
Should I automatically renew my fixed deposit?
Not without comparing current rates. Renewal is a good time to check other banks, tenures, payout types, and minimum deposits.
Can FD rates change before renewal?
Yes. Deposit rates can change, so check current source links before accepting a renewal rate.