ICICI Bank Fixed Deposit Interest Rate Hike: Private lender ICICI Bank has yet again hiked their fixed deposit interest rates for some tenors. The bank has hiked its FD interest rates by 10 to 20 basis points, or 0.10 to 0.20 per cent across different tenures, it said in a notification. This comes days after the Reserve Bank of India hiked repo rates by 0.40 per cent or 40 basis points, to tackle rising inflation in the country amid factors such as geopolitical tensions and supply shortage. The new ICICI Bank FD rates have already come into effect.
The increased ICICI Bank FD interest rates are applicable to tenors between 290 days to up to 10 years. The new rates have come into effect from May 16, Monday. The ICICI Bank FD rate hike also comes within two weeks after the lender increased the same for deposits over Rs 2 crore and up to Rs 5 crore.
Here are the revised interest rates on fixed deposits (single deposit) below Rs 2 crore at ICICI Bank from May 16, 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 – 4.50 per cent; For Senior Citizens – 5.00 per cent
1 year to 389 days: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
390 days to less than 15 months: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
15 months to less than 18 months: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
18 months to 2 years: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
2 years 1 day to 3 years: For General Public – 5.40 per cent; For Senior Citizens – 5.90 per cent
3 years 1 day to 5 years: For General Public – 5.60 per cent; For Senior Citizens – 6.10 per cent
5 years 1 day to 10 years: For General Public – 5.75 per cent; For Senior Citizens – 6.35 per cent
ICICI Bank was one of the first lenders to hike its FD interest rates after the RBI announcement. This is the second time after May 4 ICICI Bank FD rates have been increased.
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Source: News18