ICICI Bank Hikes FD Rates Up To 25 bps, Check New Rates Here

The interest rate on fixed deposits under Rs 2 crore rupees has increased, according to the ICICI Bank website. Fixed deposit (FD) interest rates are increased by up to 25 basis points by the lender. On September 30, 2022, the new rates will take effect, according to the bank's official website. The bank raised interest rates following the review for all tenors.

on 30 September, the Reserve Bank of India's (RBI) announcement an increase in the repo rate by 50 basis points. The 50 bps hike this week is the fourth in a row since May, and the current repo rate is 5.9%.

According to the bank's website, the rate was raised by 25 basis points from 2.75% to 3% for the FD tenure of 7 days to 29 days. ICICI Bank will now offer an interest rate of 3.50% for terms ranging from 30 days to 90 days, a 25 bps increase from 3.25%. The bank will now offer 4.25% interest rates for terms ranging from 91 days to 184 days, up from 4% previously. The bank will now provide 4.90% instead of 4.65% for terms ranging from 185 days to less than one year.

FD Interest rates on Domestic & NRO deposits on Less than Rs 2 Cr

Maturity Period	General	**Senior Citizen
7 days to 14 days	3.00%	3.50%
15 days to 29 days	3.00%	3.50%
30 days to 45 days	3.50%	4.00%
46 days to 60 days	3.50%	4.00%
61 days to 90 days	3.50%	4.00%
91 days to 120 days	4.25%	4.75%
121 days to 150 days	4.25%	4.75%
151 days to 184 days	4.25%	4.75%
185 days to 210 days	4.90%	5.40%
211 days to 270 days	4.90%	5.40%
271 days to 289 days	4.90%	5.40%
290 days to less than 1 year	4.90%	5.40%
1 year to 389 days	5.70%	6.20%
390 days to	5.70%	6.20%
15 months to	5.70%	6.20%
18 months to 2 years	5.70%	6.20%
2 years 1 day to 3 years	5.80%	6.30%
3 years 1 day to 5 years	6.10%	6.60%
5 years 1 day to 10 years	6.00%	#6.60%
5 Years (80C FD) - Max to 1.50 lac	6.10%	6.60%

Source- icicibank.com