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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