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ICICI Bank Raises Interest Rates on Fixed Deposits By Up To 25 Basis Points; Details

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Private sector lender ICICI Bank has revised upwards its interest rates by up to 25 basis points (bps) on fixed deposits. The revised interest rates have come into effect from Friday (September 30) and will be applicable on deposits below Rs 2 crore. ICICI Bank will now offer interest rates in the range of 3 per cent-6.10 per cent for tenure depending upon the tenure, between 7 days and 10 years.

The move comes at a time when the country is witnessing the tight monetary policy regime. Banks have been raising their interest rates on both loans and deposits as part of the policy transmission. The RBI on Friday raised the repo rate further by 50 basis points to 5.9 per cent.

Here are the revised interest rates on fixed deposits below Rs 2 crore at ICICI Bank effective from September 30, 2022:

7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

15 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

46 days to 60 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

61 days to 90 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

91 days to 120 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent

121 days to 150 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent

151 days to 184 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent

185 days to 210 days: For General Public – 4.90 per cent; For Senior Citizens – 5.40 per cent

211 days to 270 days: For General Public – 4.90 per cent; For Senior Citizens – 5.40 per cent

271 days to 289 days: For General Public – 4.90 per cent; For Senior Citizens – 5.40 per cent

290 days to less than 1 year: For General Public – 4.90 per cent; For Senior Citizens – 5.40 per cent

1 year to 389 days: For General Public – 5.70 per cent; For Senior Citizens – 6.20 per cent

390 days to less than 15 months: For General Public – 5.70 per cent; For Senior Citizens – 6.20 per cent

15 months to less than 18 months: For General Public – 5.70 per cent; For Senior Citizens – 6.20 per cent

18 months to 2 years: For General Public – 5.70 per cent; For Senior Citizens – 6.20 per cent

2 years 1 day to 3 years: For General Public – 5.80 per cent; For Senior Citizens – 6.30 per cent

3 years 1 day to 5 years: For General Public – 6.10 per cent; For Senior Citizens – 6.60 per cent

5 years 1 day to 10 years: For General Public – 6.00 per cent; For Senior Citizens – 6.60 per cent.

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