Indian Bank has increased interest rates on its special term deposit schemes by 15 basis points each, with the revised rates taking effect on October 23, 2026. The change gives customers a new set of rates to consider when reviewing the bank’s eligible special-deposit options.
What Has Changed?
The bank’s special term deposit rates have been revised upward by 0.15 percentage points. A basis point is one-hundredth of a percentage point, so 15 basis points equal 0.15 percentage points.
What Depositors Should Know
The actual return depends on the specific deposit scheme, tenure and applicable customer category. Customers should check Indian Bank’s latest official rate chart for the exact rate applicable to their deposit before making a decision.
Why This Matters
Interest-rate changes can affect the returns savers receive from fixed-term deposits. Even a modest revision can make a difference to the interest earned, depending on the amount deposited and the length of the investment period.
Corrected details for the article
The rate increase applies to two specific deposits:
- Ind Grow (555 days): increased from 6.65% to 6.80% per year.
- Ind Prosper (777 days): increased from 6.60% to 6.75% per year.
Both revised rates took effect on October 23, 2026
