ICICI Bank Hikes Fixed Deposit Rate By 10-20 bps Across Tenures (w.e.f. May 16, 2022)

ICICI Bank, the country's second largest private lender, has increased bank fixed deposit rate by 10-20 bps across tenure. The revision has been made for single deposits of less than Rs. 20 million or Rs. 2 crore. The new and hiked interest rate come into effect from today i.e. May 16, 2022. The interest rate revision has been made for bank FDs of 290 days to 10 year tenure.

ICICI Bank Hikes Fixed Deposit Rate By 10-20 bps Across Tenures (w.e.f. May 16, 2022)

So, while the interest rate for deposits maturing under 290 days remains the same, here below are given the newly revised hiked rates across tenure:

Maturity Period	Interest rates (per cent per annum) w.e.f. May 16, 2022
	Single deposit of less than ₹20.0 million
	General	**Senior Citizen
7 days to 14 days	2.50%	3.00%
15 days to 29 days	2.50%	3.00%
30 days to 45 days	3.00%	3.50%
46 days to 60 days	3.00%	3.50%
61 days to 90 days	3.00%	3.50%
91 days to 120 days	3.50%	4.00%
121 days to 150 days	3.50%	4.00%
151 days to 184 days	3.50%	4.00%
185 days to 210 days	4.40%	4.90%
211 days to 270 days	4.40%	4.90%
271 days to 289 days	4.40%	4.90%
290 days to less than 1 year	4.50%	5.00%
1 year to 389 days	5.10%	5.60%
390 days to	5.10%	5.60%
15 months to	5.10%	5.60%
18 months to 2 years	5.10%	5.60%
2 years 1 day to 3 years	5.40%	5.90%
3 years 1 day to 5 years	5.60%	6.10%
5 years 1 day to 10 years	5.75%	6.35%
5 Years (80C FD) - Max to 1.50 lac	5.60%	6.10%

Simultaneously with effect from today i.e. May 16, 2022, the bank has put forth the interest rate on ICICI Bank Golden Years FD Rates. This scheme offers an exclusive additional interest rate of 0.10% per annum on your Fixed Deposits above 5 years tenure.

-Resident Senior citizen customers, will get an additional interest rate of 0.10% for limited time over and above existing additional rate of 0.50% per annum
- The additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.
-Eligible FD tenure: 5 years 1 day up to 10 years
-Applicable duration: 20th May, 2020 to 7th October 2022
- Applicable on single FD of amount less than Rs. 2 crores.
-Premature withdrawal: In case deposit opened in above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the applicable penal rate will be 1.10%. In case the deposit opened in above scheme is prematurely withdrawn/closed before 5 years 1 day, the prevailing premature withdrawal policy will be applicable.
- All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.

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