The interest will be taxable in the UK, you can see guidance here:
SAIM2440 - Interest: taxation of interest: when interest arises
If the interest is received in March 2023, then it is taxable in 2022/23 tax year.
If the terms did not allow access until maturity, then interest would arise and would be taxed at that point.
The double taxation agreement at article 12(2) limits the tax in India to a maximum of 15 percent. If tax is paid in India on the interest, then relief up to 15% can be claimed on the foreign page of the Self Assessment tax return.
If you renew the deposit for another 5 years, you would still be taxable on the interest in the UK, when it is received.