ICICI Bank, a private sector lender, has increased its interest rates on fixed deposits of more than ₹2 Cr to ₹5 Cr. The new rates are in effect as of August 26, 2022, according to the bank’s official website. Starting today, the bank will provide an interest rate on fixed deposits with maturities ranging from 7 days to 10 years ranging from 3.50% to 5.90%.
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ICICI Bank FD Rates
On fixed deposits maturing in 7 days to 29 days, the bank will now offer an interest rate of 3.50% and on term deposits maturing in 30 days to 45 days, ICICI Bank will now offer an interest rate of 3.60%. Fixed deposits maturing in 46 days to 60 days will now offer an interest rate of 4.00% and term deposits maturing in 61 days to 90 days will now offer an interest rate of 4.75%. ICICI Bank will now offer an interest rate of 5.25% on fixed deposits maturing from 91 days to 184 days and 5.40% on fixed deposits maturing from 185 days to 270 days. On fixed deposits maturing in 271 days to less than 1 year, ICICI Bank will now offer an interest rate of 5.60% and on term deposits maturing in 1 year to 5 years, the bank will now promise an interest rate of 6.05%. Fixed deposits maturing in 5 years 1 day to 10 years will now fetch an interest rate of 5.90%.
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 current uncertainty and highly volatile market, you can always rely on ICICI Bank’s Fixed Deposits for assured and guaranteed returns. An ICICI Bank FD is one of the safest FDs and rated as “AAA”, beating any competition with ease,” ICICI Bank has said on its website.
The interest rates on fixed deposits under ₹2 Cr were recently upped by ICICI Bank on August 19, 2022. As a result of the revision, the bank increased interest rates on fixed deposits with maturities ranging from one year to ten years. For fixed deposits maturing in 3 years, 1 day to 5 years, the highest interest rate offered by ICICI Bank is 6.10% for non-senior residents and 6.60% for senior citizens.