Indian Bank raises rates on Ind Grow (555 days) and Ind Prosper (777 days) retail term deposits
Indian Bank has raised interest rates on two special retail term deposits, effective 23.10.2026.
By ScoutQuest · · 1 min read
- Ind Grow (555 days) rate revision
- 6.65% → 6.80%
- Ind Prosper (777 days) rate revision
- 6.60% → 6.75%
- Effective date
- 23.10.2026
What the bank has done
Indian Bank has raised the interest it pays on two of its special retail term deposit schemes. The decision was taken by the bank's Asset Liability Management Committee (ALCO) at its meeting on 22.10.2026, and the new rates apply from 23.10.2026.
- Ind Grow (555 days): existing rate 6.65% per annum, revised to 6.80% per annum
- Ind Prosper (777 days): existing rate 6.60% per annum, revised to 6.75% per annum
The increase in both cases is 0.15 percentage points over the existing rate.
What this means for depositors
These are retail term deposit schemes with fixed tenors of 555 days and 777 days. A higher rate means a depositor booking or renewing a deposit under these schemes from 23.10.2026 earns interest at the revised rate rather than the earlier one. The update sets out the revised rates and the effective date; the terms of each scheme otherwise continue as they are.
What this signals
An upward revision of deposit rates is a decision on the cost of deposits, taken by the bank's asset liability committee while considering various aspects of bank deposits. For a saver, it makes these two tenors relatively more attractive than before. For a shareholder, deposit rates feed into the bank's cost of funds.
Key points to note
- Both schemes are special retail term deposits, so the revised rates apply to these specific tenors, not to the bank's deposit book as a whole.
- The change takes effect from 23.10.2026.
- The rates are stated as per cent per annum.
Investors and depositors who want the exact scheme terms, eligibility and any conditions should refer to the bank's deposit scheme details.
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More numbers
- Ind Grow (555 days) - existing rate6.65
- Ind Grow (555 days) - revised rate6.80
- Ind Prosper (777 days) - existing rate6.60
- Ind Prosper (777 days) - revised rate6.75
- Ind Grow tenor555 days
- Ind Prosper tenor777 days
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