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

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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 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 PeriodInterest 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 days2.50%3.00%
15 days to 29 days2.50%3.00%
30 days to 45 days3.00%3.50%
46 days to 60 days3.00%3.50%
61 days to 90 days3.00%3.50%
91 days to 120 days3.50%4.00%
121 days to 150 days3.50%4.00%
151 days to 184 days3.50%4.00%
185 days to 210 days4.40%4.90%
211 days to 270 days4.40%4.90%
271 days to 289 days4.40%4.90%
290 days to less than 1 year4.50%5.00%
1 year to 389 days5.10%5.60%
390 days to 5.10%5.60%
15 months to 5.10%5.60%
18 months to 2 years5.10%5.60%
2 years 1 day to 3 years5.40%5.90%
3 years 1 day to 5 years5.60%6.10%
5 years 1 day to 10 years5.75%6.35%
5 Years (80C FD) - Max to 1.50 lac5.60%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-Premature withdrawal: In case deposit opened in above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the applicable penal rate will be 1.10%. In case the deposit opened in above scheme is prematurely withdrawn/closed before 5 years 1 day, the prevailing premature withdrawal policy will be applicable.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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