ICICI Bank hikes interest rates on FDs by up to 0.20%

ICICI Bank has increased the interest rates on fixed deposits i.e. FDs of less than Rs 2 crore.

Private sector lender ICICI Bank has increased interest rates on fixed deposits i.e. FDs of less than Rs 2 crore. The bank announced on Monday that interest rates are being increased on FDs maturing in 290 days to 10 years.

Private Sector Lender ICICI Bank (ICICI Bank) made less than Rs 2 crore fixed deposit (Fixed Deposit) That is, the interest rates on FD have increased. The bank announced on Monday that the interest rates on FDs maturing in 290 days to 10 years. (FD Interest Rates) is being increased. Interest rate on deposits maturing in 7 days to 29 days (Interest Rate Hike) 2.50 per cent. Whereas, deposits maturing in 30 days to 90 days will continue to attract interest at the rate of 3.5 percent. At the same time, the interest rate on FDs with maturity from 185 days to 289 days will remain at 4.40 percent without any change.

Earlier, the bank used to charge an interest rate of 4.40 per cent on deposits from 290 days to less than one year. Now this rate has been reduced to 4.50 percent. It has been increased by 10 basis points.

Here are the new rates on FD

Interest at the rate of 5 per cent was charged on FDs of one to two years tenor in ICICI Bank. It has now been increased to 5.10 per cent. That is, it has also increased by 10 basis points. At the same time, the interest rate on fixed deposits with tenure of 2 years 1 day to 3 years has been increased from 5.20 percent to 5.40 percent. There has been a total increase of 20 basis points in this.

The interest rate on FDs with tenures of three years, 1 day to 5 years has been increased by 15 basis points. It has been increased from 5.45 per cent to 5.60 per cent now. ICICI Bank has increased the interest rate on long term fixed deposits of 5 years 1 day to 10 years from 5.60 per cent to 5.75 per cent. There has been a big increase of 15 basis points in this. Whereas, tax saving fixed deposits up to Rs 1.5 lakh will now attract interest at the rate of 5.60 percent instead of 5.45 percent earlier. It has been increased by 15 basis points.

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On the other hand, senior citizens will continue to get an additional benefit of 0.50 per cent on FDs with tenures ranging from seven days to five years. Whereas, FDs with a tenor of 5 years 1 day to 10 years, which is a special fixed deposit scheme, and called ICICI Bank Golden Years FD. Interest will be available on this special FD scheme at the rate of 6.35 percent. This is an additional rate of 0.10 per cent over and above the existing 0.50 per cent additional rate. This rate is for a limited time till 7 October 2022.