ICICI Bank Revises Fixed Deposit (FD) Rates Effective 16th July 2024

The country's second-largest private lender by market capitalization Interest rates on fixed deposits of less than Rs 3 Cr have been revised by ICICI Bank. Both newly issued and renewed FDs will be subject to the revised interest rates. According to ICICI Bank's official website, the new FD rates take effect on July 16, 2024. Customers can receive a minimum interest of up to 3.00% annually and a maximum interest of up to 7.20% annually on their ICICI Bank fixed deposit after the adjustment.

ICICI Bank Latest FD Rates

The bank is now giving an interest rate of 3.00% on fixed deposit tenures of 7 to 29 days, and 3.50% on those that last between 30 to 45 days at ICICI Bank. With a fixed deposit period of 46 to 60 days, ICICI Bank is now giving an interest rate of 4.25%; with a tenure of 61 to 90 days, the rate is 4.50%. Fixed deposits with ICICI Bank that mature in 91-184 days will now yield an interest rate of 4.75%, while those that mature in 185-270 days will provide an interest rate of 5.75%.

ICICI Bank is now giving an interest rate of 6.70% on fixed deposits that mature between 1 year to 15 months, while the bank will also pay an interest rate of 6.00% on those maturing in 271 days to 1 year. The maximum interest rate of 7.20% is now being offered by ICICI Bank on fixed deposit terms ranging from 15 months to 2 years. The bank also pays a return of 7.00% on terms ranging from 2 years and 1 day to 5 years. The interest rate on fixed deposits that mature in five years, one day to ten years will now be 7.00%.

ICICI Bank Upcoming Dividend

"We are pleased to inform you that the Board of Directors of ICICI Bank Limited ("the Bank") at their Meeting held on April 27, 2024 have considered and recommended payment of final dividend of Rs 10 per equity share (500%) of face value of Rs 2 each for the financial year ended March 31, 2024. The dividend, as recommended by the Board, if approved at the Thirtieth Annual General Meeting scheduled to be held on August 29, 2024, will be paid to those shareholders, holding equity shares in physical form, whose names appear in the Register of Members of the Bank and in respect of equity shares held in dematerialised form to all beneficial owners as per the details furnished by the Depositories as on the Record date i.e. as on the close of August 12, 2024," said ICICI Bank in a regulatory filing.