ICICI Bank bulk FD rates are effective from today with a maximum interest rate of 7.25%
2 min read 28 Mar 2023, 02:38 PM ISTThe private sector lender ICICI Bank has revised its interest rates on bulk fixed deposits of more than ₹2 Cr to less than ₹5 Cr.
PremiumThe private sector lender ICICI Bank has revised its interest rates on bulk fixed deposits of more than ₹2 Cr to less than ₹5 Cr. According to the bank's website, the updated bulk FD rates are in effect as of today, starting on March 28, 2023. With the adjustment, the bank is now providing interest rates on deposits with terms ranging from 7 days to 10 years that range from 4.75% to 6.75%. ICICI Bank is now giving a maximum interest rate of 7.25% on bulk fixed deposits with a deposit tenure of 1 year to 15 months.
ICICI Bank Bulk FD Rates
The bank will give an interest rate of 4.75% on bulk deposits that mature in 7 days to 29 days, and it is now guaranteeing an interest rate of 5.50% on deposits that mature in 30 days to 45 days. ICICI Bank is now offering interest rates of 5.75% on deposits held for 46 to 60 days and 6.00% on deposits held for 61 to 90 days. Deposits with maturities between 91 and 184 days will now earn interest at a rate of 6.50%, while those between 185 and 270 days will now earn interest at a rate of 6.65%.
The bank is now guaranteeing an interest rate of 6.75% on deposits maturing in 271 days to less than a year, and ICICI Bank is also promising an interest rate of 7.25% on deposits maturing in a year to 15 months. ICICI Bank has announced that it would pay 7.15% interest on bulk deposits that mature in 15 months to 2 years and 7.00% interest on deposits that mature in 2 years, 1 day to 3 years. Bulk deposits will now earn interest at a rate of 6.75% for maturities ranging from 3 years, 1 day to 10 years.
“Now you can invest in ICICI Bank’s Fixed Deposits through the digital and branch channel for a fixed tenure, as per your convenience. You can multiply your savings with high FD interest rates through an ICICI Bank FD. ICICI Bank offers interest rates as high as 7.5% p.a. for Senior Citizens (above the age of 60 years) and up to 6.9% p.a. for citizens below age of years," mentioned ICICI Bank on its website.
The ICICI Bank FD is among the safest FDs and is rated "AAA," considerably outperforming its rivals.
Regarding fixed deposits of less than ₹2 Cr, ICICI Bank has mentioned on its website that “You can maximise your FD interest rates by opting for the highest tenure (more than 5 years). ICICI Bank gives you the highest FD interest rates of up to 7.60 % p.a. for Senior Citizens and up to 7.10% p.a. for citizens below the age of 60 years." On these deposits, ICICI Bank had last hiked its interest rates on February 24, 2023.
