ICICI Bank revises interest rates on these fixed deposits: Key takeaways to note

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Interest rates on fixed deposits of more than 2 Cr to 5 Cr have been revised by the private sector lender ICICI Bank. According to the bank’s official website, the new rates are in effect as of today, September 8, 2022. In accordance with the revised, the bank is now providing an interest rate on fixed deposits maturing in 7 days to 10 years that range from 3.50% to 5.90%. Fixed deposit rates will now reach a maximum of 6.05% for deposits maturing in 1 to 5 years.

ICICI Bank FD Rates

On fixed deposits maturing in 7 days to 29 days, the bank will now promise an interest rate of 3.50% and on term deposits maturing in 30 days to 45 days, ICICI Bank will now promise an interest rate of 3.60%. Fixed deposits maturing in 46 days to 60 days will now fetch an interest rate of 4.00% and term deposits maturing in 61 days to 90 days will now fetch an interest rate of 4.75%. ICICI Bank is now promising an interest rate of 5.25% on fixed deposits maturing in 91 days to 184 days and the bank will now promise an interest rate of 5.50% on fixed deposits maturing in 185 days to 270 days. On fixed deposits maturing in 271 days to less than 1 year, the bank will now promise an interest rate of 5.70% and on fixed deposits maturing in 1 year to 5 years, ICICI Bank will now promise an interest rate of 6.05%. Fixed deposits maturing in 5 years 1 day to 10 years will now fetch an interest rate of 5.90%.

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ICICI Bank FD Rates (icicibank.com)

ICICI Bank has mentioned on its website that “These revised Fixed Deposit interest rates will be applicable for new ICICI Bank Fixed Deposits and renewal of existing Term Deposits. Minimum tenure for Domestic and NRO Term Deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of the deposit.”

“You can maximise your FD interest rates by opting for the highest tenure (more than 5 years). ICICI Bank gives you the highest FD interest rates of up to 6.10 % p.a. for Senior Citizens and up to 6.60% p.a. for citizens below the age of 60 years, mentioned the lender on its website.

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