ICICI Bank Cuts Interest Rates By 5 Bps On FDs (W.e.f. April 06, 2022)

ICICI Bank, a private sector lender, has revised the interest rate on fixed deposits of Rs 2 crore to less than Rs 5 crore. The bank made the announcement today following which interest rate adjustment is seen on a variety of tenors. Here are the interest rates that will be in effect from April 6, 2022 onwards for both normal and elderly people.

ICICI Bank FD Rates On Single Deposit of Rs 2 Cr To Less Than Rs 5 Cr

ICICI Bank is giving a 2.50 percent interest rate on fixed deposits of Rs 2 Cr to Rs 5 Cr maturing in 7 days to 29 days. The interest rate on term deposits maturing in 30 to 60 days will be 2.75 percent. ICICI Bank is giving a 3.00 percent interest rate on deposits maturing in 61 to 90 days, and a 3.35 percent interest rate on deposits maturing in 91 to 184 days. The bank is giving interest rates of 3.60 percent and 3.70 percent on deposits maturing in 185 days to 270 days and 271 days to less than one year.

Previously, the bank offered a 4.20 percent interest rate on deposits maturing in one year to less than 15 months; however, the interest rate will now be 4.15 percent, a 5 basis point decrease. Earlier, the bank offered a 4.25 percent interest rate on deposits maturing in 15 months to less than 18 months, but now the rate will be 4.20 percent, a 5 basis point drop. The bank formerly offered a 4.35 percent interest rate on deposits maturing in 18 months to two years, but the rate will now be 4.30 percent, a 5 bps fall.

The bank used to give a 4.55 percent interest rate on deposits maturing in 2 years 1 day to 3 years, but now it will be 4.50 percent, a 5 basis point cut. The interest rate on deposits maturing in 3 years, 1 day to 10 years was previously 4.65 percent, but it will now be 4.60 percent, a 5 basis point decline.

Tenors	General	Senior Citizen
7 days to 14 days	2.50%	2.50%
15 days to 29 days	2.50%	2.50%
30 days to 45 days	2.75%	2.75%
46 days to 60 days	2.75%	2.75%
61 days to 90 days	3.00%	3.00%
91 days to 120 days	3.35%	3.35%
121 days to 150 days	3.35%	3.35%
151 days to 184 days	3.35%	3.35%
185 days to 210 days	3.60%	3.60%
211 days to 270 days	3.60%	3.60%
271 days to 289 days	3.70%	3.70%
290 days to less than 1 year	3.70%	3.70%
1 year to 389 days	4.15%	4.15%
390 days to less than 15 months	4.15%	4.15%
15 months to less than 18 months	4.20%	4.20%
18 months to 2 years	4.30%	4.30%
2 years 1 day to 3 years	4.50%	4.50%
3 years 1 day to 5 years	4.60%	4.60%
5 years 1 day to 10 years	4.60%	4.60%
Source: Bank Website. W.e.f. April 06, 2022