New Delhi: ICICI Bank has increased its fixed deposits from over Rs 2 crore to Rs 5 crore. According to the bank’s official website, the new rates will be effective on August 26. It will come into effect from 2022. Therefore, the bank will now offer interest rates between 3.50% and 5.90% on fixed deposits with tenors of 7 days to 10 years. ICICI Bank on August 19 increased interest rates on fixed deposits below Rs 2 crore.
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ICICI Bank FD Rates
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Bank FD interest rate for 7 to 14 days is now 3.50%. The same rate is 15 to 29 days maturity FD. For FD with a tenure of 30 to 45 days, the interest rate increases to 3.60%. A fixed deposit with a maturity of 46 to 60 days offers a rate of 4.00% and an FD with a maturity of 61 to 90 days offers 4.75%. Three types of maturity FD – 91 to 120; 121 to 150; & 151 to 184 days will now earn 5.25% interest. 5.40% on fixed deposits with tenure of 185 to 270 days. ICICI offers interest rate of 5.60% on FDs of 271 days to less than 1 year. FD will earn 6.05% interest over 1 to 5 years. Fixed deposits with tenors of 1 to 10 years in 5 years will now earn 5.90% interest.
It is important to note that senior citizens will not get additional interest rates over the regular rates on FDs above Rs 2 crore and Rs 5 crore. Rates are similar to regular rates.