ICICI Bank, one of the country's top lenders, has increased the interest rates for FDs under 2 cr. According to the bank's official website, the new rates have taken effect from November 16, 2022. 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 general public and 3.75% to 6.50% for seniors.
Revised FD Interest Rates Of ICICI Bank
Let's take a closer look at the revised FD interest rates on deposits less than Rs. 2 crores:
For FDs maturing in 7 – 14 days, the bank will give a 3% interest rate per annum to the general public. For senior citizens, the interest rate is calculated at 3.50% per annum.
For FDs maturing in 15 – 29 days, the bank will once again provide the general public a 3% interest rate per annum. For senior citizens, the interest rate will remain at 3.50% per annum.
For FDs maturing in 30 – 45 days, the bank will provide a 3.50% interest rate per annum to the general public. The senior citizens will receive an interest rate of 4% per annum for the same tenure.
For FDs maturing in 46 – 60 days, the bank will provide a 3.75% interest rate per annum to the general public. The senior citizens will receive an interest rate of 4.25% per annum for the same tenure.
For FDs maturing in 61 – 90 days, the bank will provide a 4.25% interest rate per annum to the general public. As for the senior citizens, the interest rate is calculated at 4.75% per annum for the same tenure.
For FDs maturing in 91 – 120 days, the bank will provide a 4.50% interest rate per annum to the general public. For senior citizens, the interest rate is calculated at 5% per annum.
For FDs maturing in 121 – 150 days, the bank will continue to provide a 4.50% interest rate per annum to the general public. And an interest rate of 5% per annum is provided to the senior citizens.
For FDs maturing in 151 – 184 days, the interest rate will remain at 4.50% per annum for the general public. For senior citizens, the interest rate is calculated at 5% per annum.
For FDs maturing in 185 – 210 days, the bank will provide a 5.25% interest rate per annum to the general public. As for senior citizens, the interest rate is calculated at 5.75% per annum.
For FDs maturing in 211 – 270 days, the bank will give a 5.25% interest rate per annum to the general public. The interest rate for senior citizens remains at 5.75% per annum for the same duration.
For FDs maturing in 271 – 289 days, the interest rate continues to remain at 5.25% per annum for the general public. As for senior citizens, the interest rate is calculated at 5.75% per annum for the same term.
For FDs maturing in 290 days to less than a year, the bank will provide a 5.50% interest rate per annum to the general public. The senior citizens will receive an interest rate of 6% per annum.
For FDs maturing in a year to 389 days, the bank will provide a 6.10% interest rate per annum to the general public. For senior citizens, the interest rate is calculated at 6.60% per annum.
For FDs maturing in 390 days to less than 15 months, the bank will again provide a 6.10% interest rate per annum to the general public. For senior citizens, the interest rate will remain at 6.60% per annum.
For FDs maturing in 15 months to less than 18 months, the bank will provide a 6.40% interest rate per annum to the general public. As for the senior citizens, the interest rate is calculated at 6.90% per annum.
For FDs maturing in 2 years 1 day to 3 years, the bank will provide a 6.50% interest rate per annum to the general public. For senior citizens, the interest rate is calculated at 7% per annum.
For FDs maturing in 3 years 1 day to 5 years, the bank will provide a 6.60% interest rate per annum to the general public. For senior citizens, the interest rate is calculated at 7.10% per annum.
For FDs maturing in 5 years 1 day to 10 years, the bank will provide a 6.50% interest rate per annum to the general public. As for the senior citizens, the interest rate is calculated at 7.10% per annum.
For FDs maturing in 5 years (80C FD) maximum to 1.50 lakhs, the bank will provide a 6.60% interest rate per annum to the general public. For senior citizens, the interest rate is calculated at 7.10% per annum.
Notes:
NRE prices are only valid for tenures of one year or longer.
FD interest rates for senior citizens are only available for domestic term deposits.
On domestic deposits under Rs 2 crore, ICICI Bank employees (including retired employees) would receive an additional 1% rate of return.
If the depositor retracts the entire FD amount within 7 days of the deposit date, no FD Interest Rate will be paid. This is in accordance with the 7-day minimum tenure requirement for domestic and NRO FD deposits.
The depositor must ascertain the rates on the FD value date because ICICI Bank FD interest rates are subject to change without prior notice.
Also read: HDFC Bank Hikes Fixed Deposit (FD) Interest Rates By Up To 35 Bps
Disclaimer: The interest rates mentioned in this article are recorded at the time of writing and are subject to change. BQ Prime does not endorse any of the fixed deposits mentioned above. Please invest at your own discretion.
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