ICICI Bank Hikes Interest Rates By 5 - 10 Bps On FDs (W.e.f. April 20, 2022)

ICICI Bank, a private sector lender, has raised interest rates on fixed deposits of Rs 2 Cr to Rs 5 Cr. The bank upped interest rates on these deposits by 10 basis points on April 14th, but after a 6-day break, the bank hiked interest rates by 5 to 10 basis points again on deposits maturing in 271 days to 2 years. The interest rate revision becomes effective today, April 20th, 2022.

ICICI Bank will offer a 2.50 percent interest rate on deposits maturing in 7 to 29 days and a 2.75 percent interest rate on term deposits maturing in 30 to 60 days. Deposits maturing in 61 days to 90 days will pay a 3.00 percent interest rate, while deposits maturing in 91 days to 184 days will fetch a 3.35 percent interest rate. The interest rate on term deposits maturing in 185 to 270 days will be 3.60 percent. The interest rate for fixed deposits maturing in 271 days to less than a year previously was 3.7 percent, but it will now be 3.80 percent, a 10 basis point increase.

Also read: HDFC Bank Makes Interest Rate Revision On FDs of Less Than Rs. 2 Cr (W.e.f. 20th April 2022)

Previously, ICICI Bank offered an interest rate of 4.25 percent on deposits maturing in 1 year to less than 15 months, but the rate will now be 4.30 percent, a 5 basis point increase. Previously, the bank offered an interest rate of 4.30 percent on deposits maturing in 15 months to less than 18 months, but that rate has been raised to 4.40 percent, a 10 basis point increase, while the interest rate on deposits maturing in 18 months to 2 years has been raised by 10 basis points, from 4.40 percent to 4.50 percent. And the bank has maintained constant interest rates of 4.60 percent and 4.70 percent on deposits maturing in two years, one day to three years, and three years, one day to ten years.

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

Period	General	Senior Citizens
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	3.80%	3.80%
290 days to less than 1 year	3.80%	3.80%
1 year to 389 days	4.30%	4.30%
390 days to less than 15 months	4.30%	4.30%
15 months to less than 18 months	4.40%	4.40%
18 months to 2 years	4.50%	4.50%
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: icicibank.com. W.e.f. April 20, 2022