ICICI Bank has increased interest rates by up to 10 basis points (0.10%) on fixed deposits (FD) of less than Rs 3 crore
ICICI Bank hikes interest rates on FD, special offer for senior citizen: A major private sector bank, ICICI Bank has offered its customers pre Diwali gift. The bank has announced an increase in interest rates on selected fixed deposits. This will benefit the senior citizens as well as general depositors.
The ICICI Bank has increased interest rates by up to 10 basis points (0.10%) on fixed deposits (FD) of less than Rs 3 crore. Banks have increased interest rates, especially on longer selective tenures. After this change, the interest rate on fixed deposits for senior citizens has now reached 7.20%, while the maximum interest rate for general depositors has reached 6.60%.
The bank has increased the interest rate from 6.45% to 6.55% on deposits with tenures ranging from two years and one day to three years. If a depositor fixes their money for this period, they will earn approximately ₹100 more in interest per year on an investment of ₹1 lakh compared to the previous period. Similarly, an investment of ₹5 lakh will now generate a net profit of approximately ₹500 more per year.
What is special for common depositors?
The bank has increased its interest rates on selected long-term fixed deposits (FD) and tax saver schemes from 6.50% to 6.60%. That is, there has been an increase of 10 basis points (0.10%). Now the interest on deposits in the bank from 3 years to 10 years will be increased from 6.50% to 6.60%.
3 years 1 day to 5 years – Interest rate increased from 6.50% to 6.60%.
5 years 1 day to 10 years – Here also the interest rate has been increased from 6.50% to 6.60%.
Tax Saver FD of up to 5-years –The interest rate on this special tax saving FD has been increased from 6.50% to 6.60%.
For short term, the bank offers 2.75% interest on deposits of 7 to 45 days, 4% for 46 to 90 days and 4.50% for 91 to 184 days. 5.50% interest on deposits from 185 days to less than one year.
The interest rate on deposits of one year to less than 18 months is 6.25%, while on deposits of 18 months to two years, the interest rate is 6.30%.
FD Rates for Senior Citizens
Senior Citizens can earn up to 7.20% interest on eligible Fixed Deposits (FD) made by ICICI Bank at interest rates.
3 years 1 day to 5 years- Interest rate has increased from 7.10% to 7.20%.
5-Year Tax Saver FD- Interest rate has been increased from 7.10% to 7.20%.
2 years 1 day to 3 years- The interest rate for this period has been increased from 6.95% to 7.05%.
The rate on this deposit has increased from 7.00% to 7.10% for 5 years 1 day to 10 years- long term.
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For shorter tenure, senior citizens get 3.25% interest on deposits for 7 to 45 days, 4.50% for 46 to 90 days and 5% for 91 to 184 days. Deposits ranging from 185 days to less than 1 year earn 6% interest. The rate of interest is 6.75% on deposits of one year to less than 18 months and 6.80% on deposits of 18 months to two years.
