FD interest rates increased on selected ICICI Bank and Indian Bank deposits below Rs 3 crore from October 23, 2026. ICICI Bank raised rates by 10 basis points on longer maturities, while Indian Bank added 15 basis points to two special deposits. Regular senior citizens can now earn 7.30% on Indian Bank’s 555-day Ind Grow deposit, compared with ICICI Bank’s highest senior-citizen rate of 7.20%.
Key Takeaways
- ICICI Bank’s increases cover maturities above two years, including its five-year Tax Saver FD.
- Indian Bank raised rates on its 555-day Ind Grow and 777-day Ind Prosper deposits.
- The highest rates depend on both the depositor’s age category and the chosen maturity.
Table of Contents
- FD interest rates: What changed at ICICI Bank
- Indian Bank’s special deposits offer higher senior rates
- When the revised rates apply
- Conclusion
FD interest rates: What changed at ICICI Bank
ICICI Bank’s highest rate for general customers rose from 6.50% to 6.60%, while its highest senior-citizen rate increased from 7.10% to 7.20%. A 10-basis-point increase equals 0.10 percentage point.
For senior citizens, the 7.20% rate applies to deposits running from three years and one day to five years, as well as the five-year Tax Saver FD. The rate for five years and one day to 10 years is lower, at 7.10%, so choosing the longest maturity does not secure the bank’s highest rate.
Rates for maturities of up to two years were unchanged. General-customer rates continue to range from 2.75% to 6.60% across terms of seven days to 10 years.
| Item | Details |
|---|---|
| ICICI: 2 years 1 day–3 years | General rate: 6.45% to 6.55%; revised senior rate: 7.05%. |
| ICICI: 3 years 1 day–5 years | General rate: 6.50% to 6.60%; revised senior rate: 7.20%. |
| ICICI: 5 years 1 day–10 years | General rate: 6.50% to 6.60%; revised senior rate: 7.10%. |
| ICICI: five-year Tax Saver FD | General rate: 6.50% to 6.60%; revised senior rate: 7.20%. |
| Indian Bank: Ind Grow, 555 days | General rate: 6.65% to 6.80%; revised regular senior rate: 7.30%. |
| Indian Bank: Ind Prosper, 777 days | General rate: 6.60% to 6.75%; revised regular senior rate: 7.25%. |
Indian Bank’s special deposits offer higher senior rates
Indian Bank increased the general-customer rate on Ind Grow from 6.65% to 6.80% and on Ind Prosper from 6.60% to 6.75%. The regular senior-citizen rates are now 7.30% and 7.25%, respectively.
Indian Bank’s special-deposit terms describe Ind Grow and Ind Prosper as products accepting investments from Rs 1,000 to below Rs 3 crore, with fixed-deposit and money-multiplier options. Their maturity periods are 555 days and 777 days, and early withdrawal remains subject to the bank’s terms.
The bank separately lists super-senior-citizen rates of 7.55% for Ind Grow and 7.50% for Ind Prosper. That category applies to customers aged 80 and above and should not be confused with the regular senior-citizen category.
When the revised rates apply
Indian Bank states that revised domestic term-deposit rates apply only to fresh deposits and renewals of maturing deposits. An existing deposit therefore does not automatically move to the higher rate before renewal.
The increases are selective rather than across the full maturity schedule. The comparison also involves different deposit lengths: Indian Bank’s special terms are shorter than the ICICI Bank maturities offering its highest senior-citizen rate.
Conclusion
The October 23 changes improve returns on selected maturities, not every deposit. For Indian Bank customers with existing deposits, the next relevant point is maturity or renewal, when the applicable rate can change.
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Disclaimer
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