ICICI Bank hikes fastened deposit rates of interest on tenures of 1 to 10 years

The personal sector lender ICICI Bank has hiked fastened deposit rates of interest on fastened deposits of lower than ₹2 Cr. The new fastened deposit rates of interest are efficient as of August 19, 2022, in response to the financial institution’s official web site. Following the modification made at present, the financial institution elevated rates of interest on fastened deposits with maturities starting from one yr to 10 years. The financial institution is now providing rates of interest on fastened deposits with maturities starting from 7 days to 10 years that vary from 2.75% to five.90% for most of the people and three.25% to six.60% for senior residents. ICICI Bank will now give a most rate of interest of 6.10% for non-senior residents and 6.60% for senior residents on fastened deposits maturing in 3 years, 1 day to five years.

ICICI Bank Latest FD Rates

The financial institution will proceed to offer an rate of interest of two.75% on fastened deposits maturing in 7 days to 29 days, and ICICI Bank will proceed to supply an rate of interest of three.25% on fastened deposits maturing in 30 days to 90 days. Fixed deposits with maturities between 91 days and 184 days will proceed to pay 3.75% curiosity, and time period deposits with maturities between 185 days and fewer than a yr will proceed to pay 4.65% curiosity. The rate of interest on fastened deposits maturing in a single to 2 years has elevated by 15 foundation factors (bps) from 5.35% to five.50% at ICICI Bank.

The financial institution elevated rates of interest on fastened deposits maturing in 2 years, 1 day to three years by 10 foundation factors, from 5.50% to five.60%. ICICI Bank elevated rates of interest on fastened deposits maturing in 3 years, 1 day to five years by 40 foundation factors, from 5.70% to six.10%. Fixed deposits maturing in 5 years, 1 day to 10 years will now earn curiosity at a fee of 5.90%, up from 5.75% beforehand, a 15 foundation level enhance. ICICI Bank elevated rates of interest on 5-year tax-saving fastened deposits by 40 foundation factors (bps), from 5.70% to six.10%.

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ICICI Bank Latest FD Rates (icicibank.com)

“These revised Fixed Deposit rates of interest will probably be relevant for brand new ICICI Bank Fixed Deposits and renewal of current Term Deposits,” said ICICI Bank on its website.

Senior citizens will continue to get an additional rate of 0.50% over and above the regular rate on fixed deposits maturing in 7 days to 5 years. And on ICICI Bank Golden Years FD which comes with a tenure of 5 years 1 day, up to 10 years, senior citizens will get an additional interest rate of 0.20% over and above the existing additional benefit of 50 bps. For older adults, this special interest rate is available for a short time only. According to the lender’s website, the ICICI Bank Golden Years FD is valid until October 7, 2022.

ICICI Bank has mentioned on its website that “Now you can invest in ICICI Bank’s Fixed Deposits through the digital and branch channel for a fixed tenure, as per your convenience. You can multiply your savings with high FD interest rates through an ICICI Bank FD.”

“With the present uncertainty and extremely unstable market, you’ll be able to at all times depend on ICICI Bank’s Fixed Deposits for assured and assured returns. An ICICI Bank FD is among the most secure FDs and rated as “AAA”, beating any competition with ease,” ICICI Bank has additional stated on its web site.

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