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ICICI Bank Hikes Interest Rates By 10 Bps On FDs (W.e.f 14th April 2022)
ICICI Bank, a private sector lender, has increased interest rates on fixed deposits of more than Rs 2 crore but less than Rs 5 crore by 10 basis points. The announcement took effect today (April 14, 2022), and the bank increased interest rates on deposits maturing in one year to ten years as a result. The bank earlier provided a 4.15 percent interest rate on deposits maturing in one year to less than 15 months, but the rate will now be 4.25 percent, an increase of 10 basis points.
The interest rate on deposits maturing in 15 to 18 months was earlier 4.20 percent, but it will now be 4.30 percent. The interest rate on 18-month to 2-year deposits was previously 4.30 percent, but it will now be 4.40 percent. The interest rate on deposits maturing in two years and one day to three years used to be 4.50 percent, but it is now 4.60 percent. Interest will now be paid 4.7% on deposits maturing in three years, one day to ten years, up from 4.6 percent earlier.
ICICI Bank Interest Rates On Deposits of Rs 2 Cr & Above But Less Than Rs 5 Cr
The bank is now giving a 2.5 percent interest rate on deposits of Rs 2 crore and above but less than Rs 5 crore maturing in 7 to 29 days. Fixed deposits maturing in 61 days to 90 days will now enjoy a 3.0% interest rate, while deposits maturing in 30 days to 60 days will now pay a 2.75 percent interest rate. ICICI Bank is currently offering a 3.35 percent interest rate on term deposits due in 91 to 184 days.
On deposits maturing from 185 days to 270 days, ICICI Bank is now giving a 3.60 percent interest rate, and on deposits maturing from 271 days to less than a year, the bank is also offering a 3.70 percent interest rate. Previously, the bank offered a 4.15 percent interest rate on deposits maturing in one year to less than 15 months, but now the rate will be 4.25 percent, a 10 basis point increase. Previously, the interest rate on deposits maturing from 15 months to less than 18 months was 4.20 percent, but now it will be 4.30 percent.
The interest rate on deposits maturing in 18 months to 2 years was 4.30 percent before, but it will now be 4.40 percent. The interest rate for deposits maturing in 2 years 1 day to 3 years earlier was 4.50 percent, but it will now be 4.60 percent. Deposits maturing in 3 years, 1 day to 10 years will now generate 4.7 percent interest, up from 4.6 percent previously.
| Tenors | Regular interest rate p.a. in % | Senior citizens interest rate p.a. in % |
|---|---|---|
| 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 | 4.25% | 4.25% |
| 390 days to less than 15 months | 4.25% | 4.25% |
| 15 months to less than 18 months | 4.30% | 4.30% |
| 18 months to 2 years | 4.40% | 4.40% |
| 2 years 1 day to 3 years | 4.60% | 4.60% |
| 3 years 1 day to 5 years | 4.70% | 4.70% |
| 5 years 1 day to 10 years | 4.70% | 4.70% |
| Source: Bank Website |
