ICICI Bank FD Rates Archives

ICICI Bank increased interest rates on fixed deposits, this is the maximum interest rate

Bank interest rates have begun to rise as a result of the RBI’s hike in the repo rate. Along with an increase in loan interest rates, interest rates on bank savings have also begun to rise.

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The second-largest private sector bank in the nation, ICICI Bank, followed SBI and HDFC Bank in raising interest rates on fixed deposits, or FDs, from 0.25 percent to 0.50 percent.

The interest rates on Fixed Deposits under Rs 2 crore have risen at ICICI Bank. The bank raised the rate of interest on FDs that are older than 46 days.

In addition, the interest rate on FDs with terms longer than one year has been raised by 0.50 percent. The bank offers older people a maximum interest rate of 7.50%. The bank’s new rates went into effect on December 16th.

The repo has been raised by the RBI five times so far this year. In the bi-monthly monetary policy review on December 7, the central bank raised the repo rate by an additional 0.35 percent to 6.25 percent with the goal of lowering inflation.

New Update for ICICI Bank Account holder! Interest rate hike, know how much has increased

The Reserve Bank raised the repo rate three times in recent days in an effort to rein in inflation. It had increased by 1.40 percent throughout this time. Following that, the interest rate on the loan was raised by both commercial and public banks. Following this, some banks raised their deposit interest rates. Banks are also raising the Fixed Deposit Rate along with this (FD Rates). Axis Bank, UBI, and Indian Overseas Bank raised the FD rate recently.

This rule came into effect today

The interest rate has now also increased at the ICICI Bank, a commercial institution. If you have an ICICI Bank account, you would be relieved to hear this news. You should be aware of how much the bank has raised the interest rate on FDs. For FDs under Rs 2 crore, the bank has raised the interest rate by 25 basis points. The bank began applying these rates on September 26. Beginning on September 27, the interest rate on loans totaling more than 2 crores but less than 5 crores has also been raised.

Check here ICICI Bank’s new interest rates

Union Bank also increased interest rate

Union Bank of India had previously altered the interest rate as well. The bank’s website states that from 7 to 45 days, FDs are eligible for 3 percent interest, and from 46 to 90 days, FDs are eligible for 4.05 percent interest. You will receive interest at a rate of 4.10 percent if you make an FD between 91 and 180 days.

ICICI Bank cuts FD interest rate, know the new rate and its effect

A rate cut on ICICI Bank‘s fixed deposits was announced on Wednesday. The bank has cut 5 basis points for various time periods. The interest rate on fixed deposits above Rs 2 crore but less than Rs 5 crore has been revised.

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SBI, Axis Bank, HDFC Bank, IndusInd Bank, and Bank of Baroda are among the major private banks that have revised FD rates this year. ICICI Bank’s FD rates will be cut for the first time for the financial year FY23. Effective April 6, 2022, the new rates will be in place.

New rates

There has been a deduction of 5 basis points on FDs with a tenure of more than 1 year. On tenures from 1 year to 389 days and 390 days to less than 15 months, ICICI Bank will offer a 4.15% interest rate. Earlier the rates here were 4.20%.

The bank is offering 4.20 per cent interest on tenures of more than 15 months and less than 18 months, which was 4.25 per cent earlier. On the tenure of 18 months to 2 years, instead of 4.35 percent, 4.30 percent interest will be given. On the tenure of 2 years to 3 years, 4.50 percent interest will be available instead of 4.55 percent. The revision rate from 3 years to the maximum 10 years is 4.60 percent, which was 4.65 percent earlier. Both the general and senior citizen categories will be affected by this new rate.

No change here

On FDs for less than one year, the interest rate remains unchanged. Each tenure is offered at 2.50% interest rate every 7 to 14 days, 15 to 29 days, while 30 to 45 days and 46 to 60 days are offered at 2.75% interest. Between 61 and 90 days, the rate is 3%.

Furthermore, the interest rate for terms ranging from 91 to 184 days is 3.35%. Between 185 and 270 days, the remaining 3.60% is given. For terms less than a year, an interest rate of 3.70% is offered every 271 days. New fixed deposits and renewals of existing fixed deposits will be subject to the revised rates.