ICICI Bank revises FD rates, now offers up to 6.75% on tenors of 1 to 3 years
2 min read . Updated: 19 Nov 2022, 02:31 PM IST
Premium- The leading private sector lender ICICI Bank has revised its interest rates on fixed deposits of more than ₹2 Cr to less than ₹5 Cr.
The leading private sector lender ICICI Bank has revised its interest rates on fixed deposits of more than ₹2 Cr to less than ₹5 Cr. As per the official website of the bank, the new rates are effective as of today November 19, 2022. Following the modification, the bank is now providing FDs with maturities ranging from 7 days to 10 years with interest rates between 3.75% and 6.50%. A maximum interest rate of 6.75% will now be paid on deposits that mature in 1 to 3 years.
ICICI Bank FD Rates
The bank is giving an interest rate of 3.75% on FDs that mature in 7 days to 29 days, and ICICI Bank is offering an interest rate of 4.75% on FDs that mature in 30 days to 45 days. On FDs maturing in 46 days to 60 days, ICICI Bank promises an interest rate of 5.00%, and on those maturing in 61 days to 90 days, 5.25%. Deposits with maturities between 91 and 184 days will now earn interest at a rate of 5.75%, while deposits with maturities between 185 and 270 days will now earn interest at a rate of 6.00%. On FDs maturing in 271 days to less than 1 year, the bank is offering an interest rate of 6.25% and on those maturing in 1 year to 3 years, ICICI Bank is now offering an interest rate of 6.75%. ICICI Bank is currently promising an interest rate of 6.50% on deposits maturing in 3 years 1 day to 10 years.
Both new ICICI Bank fixed deposits and existing fixed deposit renewals will be subject to these adjusted fixed deposit interest rates. Only domestic term deposits are eligible for senior citizen rate benefits. On November 16, 2022, ICICI Bank increased the interest rates on fixed deposits under ₹2 Cr. After making the necessary adjustments, the bank raised interest rates on a range of tenors by up to 30 bps. As a result, the bank currently offers interest rates on FDs with maturities ranging from 7 days to 10 years that range from 3.00% to 6.50% for the general public and 3.75% to 6.50% for elderly individuals. And meanwhile, HDFC Bank raised interest rates on fixed deposits for amounts between Rs. 2 crore to ₹5 Cr. According to the bank's official website, the new rates take effect on November 18, 2022. In accordance with the revised, the HDFC Bank is now providing interest rates on deposits maturing in 7 days to 10 years that range from 3.75% to 6.25% for the general public and 4.25% to 7.00% for senior citizens.
