Indian Bank has increased rates on its 555-day Ind Grow and 777-day Ind Prosper fixed deposits by 15 basis points, with higher rates applying to deposits opened from 23 October 2026.
Indian Bank has raised rates on two of its special retail fixed deposit offerings, giving savers a modest lift on returns just as the new pricing is due to take effect on 23 October 2026. According to Zee Business, the bank has increased the rate on its Ind Grow scheme, a 555-day deposit, by 15 basis points to 6.80% from 6.65%, while the 777-day Ind Prosper deposit has been lifted to 6.75% from 6.60%.
The revised rates apply to deposits made on or after 23 October 2026. Under Ind Grow, customers can start with as little as Rs 1,000, while the upper limit is Rs 2,99,99,999, with deposits of Rs 3 crore and above excluded. Zee Business reported that senior citizens receive an extra 0.50 percentage points and super senior citizens 0.75 percentage points, although those additional benefits do not apply to NRE or NRO accounts. The scheme is open to a wide range of eligible savers, including individuals, partnerships, companies, Hindu undivided families, charitable institutions and other entities recognised by the Reserve Bank of India.
Indian Bank’s Ind Prosper scheme follows a similar structure, but with a longer tenure of 777 days and a maximum eligible deposit of less than Rs 3 crore. The minimum opening amount is again Rs 1,000. According to the report, the bank also allows callable term deposits or money multiplier deposit accounts under the scheme, subject to the relevant terms and conditions.
For depositors, the change translates into only a small difference in absolute rupee terms, but one that may still matter to savers comparing short- and medium-term options. Zee Business estimated that Rs 1 lakh in Ind Grow would earn about Rs 228 more interest at the new rate than at the old one, while the same amount in Ind Prosper would bring roughly Rs 320 more. On a larger deposit of Rs 5 lakh, the report said Ind Grow could generate about Rs 51,800 in interest over the full 555 days, compared with roughly Rs 50,600 at the earlier rate. For Ind Prosper, the same Rs 5 lakh deposit could earn about Rs 71,900 over 777 days. As always, the final return will depend on how the bank applies compounding and whether the customer chooses periodic interest payouts or a lump-sum maturity amount.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
