ICICI Bank Updates Fixed Deposit (FD) Interest Rate, Effective From July 14, 2022

Fixed Deposit or FD is a popular investment tool that is a traditionally preferred option by senior citizens in the country. However, many general people also like to invest in FDs because these will offer assured income options after a certain period. Here, the new interest rates on FD by ICICI Bank on different tenures have been discussed for investment, which came into effect today, on July 14.

The interest rate on FDs

For ICICI Bank account holders, for 151 days to 184 days FD rate is 4.75%, for 211 days to 270 days FD rate is 5.25%, for 290 days to less than 1 year FD rate is 5.35%, for 1 year to 389 days FD rate is 5.60%, for 15 months to

Tenure	Interest rate
290 days to less than 1 year	5.35%
1 year to 389 days	5.60%
3 years 1 day to 5 years	5.75%

ICICI Bank has updated these interest rates on single deposits of Rs. 20.0 mn and above but less than 50.0 mn FDs. The interest rates are the same for public and senior citizens for the said amount range.

Through ICICI Bank FDs, a customer can avail of a maximum tax deduction of Rs. 1,50,000 from taxable income, the bank informs.