Indian Bank Raises Special FD Rates By 15 Basis Points: Check New 555-Day And 777-Day Deposit Returns From 23 October
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Indian Bank has increased interest rates by 15 basis points on two special FD schemes. The 555-day Ind Grow deposit now offers 6.80% per annum, while the 777-day Ind Prosper scheme offers 6.75%, effective 23 October 2026.
Indian Bank has revised rates on two special-tenure deposits, giving savers higher returns at the updated rates. Both rates have increased by 0.15 percentage points.
The change follows the Reserve Bank of India’s (RBI) 25-basis-point (bps) increase in the repo rate to 5.50% in its October monetary policy review.
Separately, at 10:09 am on 23 October 2026, Indian Bank shares were trading at ₹836, down 2.30% on the National Stock Exchange (NSE). The previous close was ₹855.70, while the stock opened at ₹857.
Indian Bank FD Rates: New Revised Interest
The revised rates for the two fixed deposit (FD) schemes are:
- 555-day Ind Grow FD: Deposit rate has increased from 6.65% to 6.80% per annum.
- 777-day Ind Prosper FD: Deposit rate has risen from 6.60% to 6.75% per annum.
Depositors can consider the two options based on how long they can keep their savings invested and when they may need access to the money.
Senior Citizens Can Earn Additional Interest
Indian Bank offers additional interest to senior citizens on these deposits under its applicable rules. Senior citizens generally receive an extra 0.50 percentage points, while super senior citizens may receive an additional 0.75 percentage points over the rates available to general customers.
The final rate depends on eligibility and the bank’s applicable terms. Customers should confirm the current rate and conditions before opening a deposit.
What Should FD Investors Check Before Depositing?
Interest earned on an FD is taxable according to the depositor’s applicable income tax slab. Tax may also be deducted at source if the interest crosses the prescribed threshold.
Before choosing between the Indian Bank FD rates and other available offers, depositors should compare returns across banks and also verify premature withdrawal conditions, eligibility and tenure. The longer deposit period may not suit savers who expect to need their money earlier.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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