Indian Bank Hikes FD Rates, Offers Senior Citizens 7.30 Percent On 555-Day Deposits

Indian Bank has revised its fixed deposit (FD) rates, effective October 23, 2026. The bank has raised the interest rate by 15 basis points (bps) on a 555-day tenure (Ind Grow FD). Now the maximum interest rate offered by the bank is 6.80 per cent to the general public (those below 60 years), 7.30 per cent for senior citizens (60 years and above), and 7.55 per cent for super senior citizens (80 years and above). Ind Grow FD was introduced on June 5, 2026, and has been offering 6.65 per cent until the latest rate revision.

The bank announced an equal (15 bps) rate hike on one of the other special tenure FDs: Ind Prosper (777 Days). The rate for this has been increased from 6.60 per cent to 6.75 per cent effective today, October 23. Ind Prosper was also introduced on the same day along with Ind Grow, in June this year at a minimum investment of Rs 1,000.

Here are the details of the latest FD rates for senior citizens, super senior citizens, and the general public. The bank offers an additional 50 bps of interest to senior citizens and an additional 75 bps of interest to super seniors across FD tenures.  

Here are the details:

For above five years tenure, the bank offers senior citizens an additional 25 bps over and above the stipulated additional 50 bps, which means for “Above five years” tenure, seniors can avail of (0.50 per cent + 0.25 per cent), an additional 75 bps interest rate.

On the other hand, for super seniors, the bank offers an additional 25 bps over the rates available for senior citizens across tenures.

While exploring the interest rate, one must not forget that the FD interest is subject to tax depending on the total income. It is also subject to tax deducted at source (TDS) at the rate of 10 per cent if the interest amount is more than Rs 1 lakh in a financial year for senior citizens, and more than Rs 50,000 for general citizens.