ICICI Bank Revises FD Rates, New Rates Effective From 9 September; Details Inside

Following the Reserve Bank of India's increase in the repo rate the in August, banks - both public and private, including NBFCs have raised their fixed deposit rates. The repo rate as of now after the recent hike is 5.4 per cent. Continuing the trend, the ICICI bank, the country's one of the largest private sector banks has recently hiked the interest rates on fixed deposits with balances ranging from Rs 2 crore to Rs 5 crore. The new rates are effective from September 9, 2022, according to the Bank's official website.

According to the website, ICICI Bank would provide regular citizens with interest rates ranging from 2.75 per cent to 6.10 per cent for tenors ranging from seven days to ten years. Senior citizens are subject to a somewhat higher rate that runs from 3.25 to 6.60 per cent for a single deposit of less than 2 Cr.

Whereas, for a single deposit of Rs 2 Cr to 5 Cr, the bank would provide regular citizens and Senior citizens with interest rates ranging from 3.50 to 6.05 per cent for maturity period of seven days to ten years.

Revised FD rates for the Rs. 2 crores to Rs. 5 crore deposits

On FD schemes maturing in 7 days to 29 days, the bank will offer an interest rate of 3.50 per cent and on term deposits maturing in 30 days to 45 days, ICICI Bank will provide an interest rate of 3.60 per cent.

With maturities between 46 and 60 days, the Investors can now get an interest of 4 per cent, and with maturities between 61 and 90 per cent, the bank will offer 4.75 per cent. The bank will provide an interest rate of 5.25 per cent for 91 to 184 days.

Now, the bank will offer an interest rate of 5.50 per cent on fixed deposits with maturities between 185 days to 270 days and for an FD maturity period of 271 days to less than a year, the bank will provide an interest rate of 5.70%. The bank will provide an interest rate of 6.05% for fixed deposits maturing in a year to five years and for an FD period of 5 years 1 day to 10 years the investors can receive an interest rate of 5.90% on theirs.

FD Interest rates on Domestic & NRO deposits (2 Crore to Rs 5 Crore) w.e.f. 09-09-2022

Maturity Period	General	Senior Citizen
7 days to 14 days	3.50%	3.50%
15 days to 29 days	3.50%	3.50%
30 days to 45 days	3.60%	3.60%
46 days to 60 days	4.00%	4.00%
61 days to 90 days	4.75%	4.75%
91 days to 120 days	5.25%	5.25%
121 days to 150 days	5.25%	5.25%
151 days to 184 days	5.25%	5.25%
185 days to 210 days	5.50%	5.50%
211 days to 270 days	5.50%	5.50%
271 days to 289 days	5.70%	5.70%
290 days to less than 1 year	5.70%	5.70%
1 year to 389 days	6.05%	6.05%
390 days to	6.05%	6.05%
15 months to	6.05%	6.05%
18 months to 2 years	6.05%	6.05%
2 years 1 day to 3 years	6.05%	6.05%
3 years 1 day to 5 years	6.05%	6.05%
5 years 1 day to 10 years	5.90%	5.90%

source- icicibank.com