ICICI Bank and Indian Bank raise rates on some fixed deposit tenures
ICICI Bank and Indian Bank have lifted fixed deposit rates on select tenures below Rs.3 crore from 23 October 2026. Senior citizen rates reach 7.30%.
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what happened
ICICI Bank and Indian Bank have revised fixed deposit rates on selected tenures, effective 23 October 2026. The changes apply to deposits below Rs.3 crore. According to Moody's, the banks adjusted terms to reflect evolving developments and central bank policies.
ICICI Bank raised rates by 10 basis points on some longer-term deposits. Its rates for general customers range from 2.75% to 6.60%, while senior citizens can earn up to 7.20%.
Indian Bank increased rates by 15 basis points on its special 555-day and 777-day deposits, called 'Ind Grow' and 'Ind Prosper'. Senior citizens get an extra 0.50 percentage point on these deposits, bringing their rates to 7.30% and 7.25% respectively. Rates on other tenures were left unchanged.
why it matters
For savers, higher rates make certain deposit tenures more attractive, but the article stresses that the choice should match liquidity needs and financial goals. For markets, this is a limited signal: banks are adjusting deposit rates in line with current central bank policy, but the changes cover only specific tenures.
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sources
- ICICI Bank, Indian Bank hike FD rates: Check latest rates for senior citizens and general depositors — Moody's, 24 October 2026 at 12:17 UTC
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