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Banks Hike FD Rates: Your Savings Get a Boost!
23 Oct
Summary
- ICICI and Indian Bank increased fixed deposit interest rates.
- Rates apply to select tenures for deposits under Rs 3 crore.
- Senior citizens can benefit from higher interest rates.
Effective October 23, 2026, ICICI Bank and Indian Bank have announced an increase in fixed deposit (FD) interest rates for deposits under Rs 3 crore. ICICI Bank has raised rates by 10 basis points on several tenures. General citizens can now earn up to 6.60% on FDs, with senior citizens receiving the highest rate of 7.20% on specific tenures.
Indian Bank has also enhanced its FD offerings, increasing rates by 15 basis points on its special 555-day and 777-day FDs. These specific tenures now offer 6.80% and 6.75% respectively for general customers. Senior citizens will receive an additional 50 basis point benefit on these particular FDs.
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