Indian Bank hikes fixed deposit rates on special deposits from today, October 23: Check new 'Ind Grow', 'Ind Prosper' FD rates

Indian Bank has increased interest rates on its special fixed deposit (FD) schemes, ‘Ind Grow’ and ‘Ind Prosper’, giving customers an opportunity to earn higher returns on their deposits. The revised rates will come into effect from October 23, 2026.

The interest rate on the 555-day ‘Ind Grow’ scheme has been raised by 15 basis points, from 6.65% to 6.80% per annum. Similarly, the rate on the 777-day ‘Ind Prosper’ deposit has increased from 6.60% to 6.75% per annum.

Indian Bank FD rates: What about other tenures?

Apart from these special deposits, Indian Bank offers term deposits across different tenures. According to the bank’s official website, its domestic retail term deposit rates vary depending on the investment period and customer category.

RBI repo rate hike: What has changed?

Changes in the repo rate can influence banks’ lending rates and deposit pricing, although the impact varies across banks and products.

Which banks have revised lending rates?

Punjab National Bank raised its repo-linked lending rate to 8.35% from 8.10%. Indian Bank also increased its repo-linked benchmark lending rate to 8.20% from 7.95%. Bank of Baroda, Bank of India, Indian Overseas Bank and Tamilnad Mercantile Bank were also reported to have revised their lending benchmarks.

How do other banks’ FD rates compare?

FD rates depend on the tenure, deposit amount and customer category. Customers should compare the applicable rates and withdrawal conditions before investing.

Indian Bank’s revised special deposit rates will take effect on October 23.