New Delhi: ICICI Bank has hiked the interest rate on fixed deposits of various tenures by 10 basis points or 0.10%. The private lender has increased the interest rates on FD schemes from 1 year to 10 years.
The latest interest rates are applicable on term deposits worth more than Rs 2 crore but less than Rs 5 crore, ICICI Bank pointed out on its official website. Further, the interest rates have come into effect starting April 14.
ICICI Bank FD Interest Rates
ICICI Bank is offering a 3% interest rate on fixed deposits maturing within 61 days to 90 days. Investors can get a 4.25% interest rate on FDs with a maturity period of 1 year to 389 days and 390 days to less than 15 months. The bank was offering an interest rate of 4.15% on such deposits.
Further, ICICI Bank has increased the fixed deposit interest rate on FDs maturing within 15 months to 18 months to 4.30%. Investors can get returns at a 4.40% interest rate on deposits with a term of 18 months to 2 years.
The private lender has hiked the interest rate on FDs with a tenure of 2 years 1 day to 3 years to 4.6% from 4.5%. The increased interest rates are applicable on new fixed deposits and renewals of existing term plans.
Senior citizens will continue receiving a higher interest rate on all fixed deposit schemes. The bank offers 50 basis points or 0.50% higher interest rate on FD investments made by senior citizens. Also Read: LIC IPO: Centre amends FEMA rules to allow 20% FDI in insurer
Besides the ICICI Bank, several other lenders have increased the interest rates on fixed deposit schemes. For instance, HDFC Bank and State Bank of India have hiked the interest rates on FD investments. Also Read: Aadhaar Card Update: Here’s how to change number, address, photo, name on Aadhaar
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