Home / Industry / Banking /  ICICI Bank pays up to 7.15% return on bulk FD, new rates are in force from today
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One of the leading private sector lenders ICICI Bank has revised its interest rates on bulk fixed deposits of 2 Cr to 5 Cr. According to the bank's official website, the new rates are in effect as of today, January 7, 2023. In accordance with the revised, ICICI Bank is now providing interest rates on deposit tenors ranging from 7 days to 10 years that range from 4.50% to 6.75%. The maximum interest rate for deposits that mature in 15 months to 2 years is now 7.15%.

ICICI Bank Bulk FD Rates

The bank is giving an interest rate of 4.50% on deposits that mature in the next 7 to 29 days, and ICICI Bank is paying an interest rate of 5.25% on deposits that mature in the next 30 to 45 days. On deposits maturing in 46 days to 60 days, ICICI Bank pays an interest rate of 5.50%, and on deposits maturing in 61 days to 90 days, the bank now pays an interest rate of 5.75%. Deposits maturing between 91 and 184 days will earn 6.25% interest, while deposits maturing between 185 and 270 days will earn 6.50% interest.

The bank is giving an interest rate of 6.65% on deposits maturing in 271 days to less than a year, and ICICI Bank is offering an interest rate of 7.10% on deposits maturing in a year and up to 15 months. On deposits maturing in 15 months to 2 years, ICICI Bank is giving an interest rate of 7.15%, while on deposits maturing in 2 years, 1 day to 3 years, the bank is paying an interest rate of 7.00%. A 6.75% interest rate will be charged on deposits that mature in 3 years, 1 day to 10 years.

ICICI Bank Bulk FD Rates
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ICICI Bank Bulk FD Rates (icicibank.com)

Interest rates offered by ICICI Bank on fixed deposits under 2 Cr are effective as of December 16, 2022. The general public will get a maximum interest rate of 7% on these deposits that mature in 15 months to 5 years, while senior citizens will receive a maximum return of 7.50% on deposits that mature in 15 months to 10 years. Considering that India's annual retail price inflation slowed to 5.88% in November 2022 from 6.77% in October, an ICICI Bank FD is one of the safest FDs, rated "AAA," and also outperforming inflation in terms of returns.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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