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ICICI Bank Hikes Interest Rates of Fixed Deposits; Check Latest FD Rates Here

ICICI Bank Fixed Deposit Interest Rates: Private lender ICICI bank has become the latest bank to join the growing list of its contemporaries who have increased interest rates on fixed deposits. The ICICI Bank has announced crucial revisions of its Fixed Deposits (FD) rates for those who open such accounts in the bank, or already have an account there. The new ICICI Bank FD rates have become applicable two days back, according to the lender’s website. ICICI Bank has made the announcement in a notification on its official website, via a chart which displays all the plans for fixed deposits.

ICICI Bank FD Interest Rate Hike — Key Details

The ICICI Bank’s move to increase its rate of interest on fixed deposits comes close in heels with similar decisions of the Axis Bank, State Bank of India, Canara Bank and HDFC Bank. The new rates have come into effect from Thursday, January 20.

As per the bank’s official website, the account holders will now get a 2.50 per cent interest for general public and 3 per cent interest for senior citizens on fixed deposits with a maturity of seven to 29 days, on deposits of less than Rs 2 crore. For a tenure of 30 to 90 days, the bank will offer an interest rate of 3 per cent and 3.5 per cent to general public and senior citizens. For a five-year fixed deposit, the bank is offering an interest rate of 5.45 per cent. This plan is eligible for tax benefits under the Section 80C of the Income Tax Act. Compared to the general public, the ICICI Bank offers 0.50 per cent more interest to senior citizens.

Here are the revised interest rates on fixed deposits below Rs 2 crore at the ICICI Bank from January 20, 2022:

7 days to 14 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent

15 days to 29 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent

30 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens –  3.50 per cent

46 days to 60 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

61 days to 90 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

91 days to 120 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

121 days to 150 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

151 days to 184 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

185 days to 210 days: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

211 days to 270 days: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

271 days to 289 days: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

290 days to less than 1 year: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

1 year to 389 days: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

390 days to less than 15 months: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

15 months to less than 18 months: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

18 months to 2 years: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

2 years 1 day to 3 years: For General Public – 5.20 per cent; For Senior Citizens – 5.70 per cent

3 years 1 day to 5 years: For General Public – 5.45 per cent; For Senior Citizens – 5.95 per cent

5 years 1 day to 10 years: For General Public – 5.60 per cent; For Senior Citizens – 6.35 per cent

5 Years (80C FD) – Max to `1.50 lac: For General Public – 5.45 per cent; For Senior Citizens – 5.95 per cent

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Source: News18