ICICI Bank hikes bulk FD rates, offers up to 7.25% on these tenors effective from today
2 min read 22 Mar 2023, 02:51 PM ISTThe leading private sector lender ICICI Bank has hiked its interest rates on bulk fixed deposits of more than ₹2 Cr to less than ₹5 Cr.
PremiumThe leading private sector lender ICICI Bank has hiked its interest rates on bulk fixed deposits of more than ₹2 Cr to less than ₹5 Cr. With the adjustment, customers can now receive interest rates on fixed deposits with maturities ranging from 7 days to 10 years that range from 4.75% to 6.75%. ICICI Bank is now giving its customers a maximum interest rate of 7.25% on deposits with a term of one year to fifteen months. The new interest rates on fixed deposits are in effect as of today, March 22, 2023, according to the bank's official website.
ICICI Bank Bulk FD Rates
The bank is currently giving an interest rate of 4.75% on bulk fixed deposits that mature in 7 days to 29 days, and an interest rate of 5.50% on bulk fixed deposits that mature in 30 days to 45 days. ICICI Bank is now offering interest rates of 5.75% for deposits held for 46 to 60 days and 6.00% for 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 now offers an interest rate of 6.75% on bulk fixed deposits that mature in 271 days to less than a year, and ICICI Bank now offers an interest rate of 7.25% on bulk fixed deposits that mature in a year to 15 months. ICICI Bank is now giving interest rates of 7.00% on deposits with a tenor of 2 years and 1 day to 3 years and 7.15% on deposits with a tenor of 15 months to 2 years. Deposits with maturities between three years and ten years will now earn interest at a rate of 6.75%.
If the depositor withdraws the whole amount of the FD within seven days of the deposit date, no interest rate will be paid. Fixed deposit interest rate is subject to Tax Deducted at Source (TDS) under Income Tax Regulations. Both new ICICI Bank fixed deposits and existing fixed deposit renewals will be subject to these adjusted fixed deposit interest rates.
On February 24, 2023, ICICI Bank last raised interest rates for domestic fixed deposits under ₹2 Cr. For deposits maturing in 15 months to 2 years, the bank is giving a maximum interest rate of 7.10% for the general public and 7.60% for senior citizens. Fixed Deposits from ICICI Bank offer assured and guaranteed returns. An ICICI Bank FD is among the safest FDs and is rated "AAA," significantly outperforming any rivals.
