ICICI Bank revises FD rates; offers up to 7.75% interest to senior citizens; check new FD rates These revised FD rates are applicable for deposits up to Rs 2 crore and the highest rate that is being offered to senior citizens is 7.75%
ICICI Bank has revised its fixed deposit (FD) interest rates with effect from February 17, 2024, according to the bank's website. The revised FD rates are applicable for FDs of up to Rs 2 crore. The highest interest rate for senior citizens is 7.75%. For individuals, the highest interest rate on FDs can go up to 7.2%.ICICI Bank revises FD interest rates from February 17, 2024
According to the ICICI Bank website on February 17, 2024, "The minimum amount to open a domestic FD is Rs 10,000."ICICI Bank offers a 3% interest rate for FDs maturing between 7 days and 29 days. FDs maturing between 30 days and 45 days will fetch you an interest rate of 3.5%. For FDs maturing between 46 days and 60 days, the bank offers an interest rate of 4.25%.
FDs maturing between 61 days and 90 days will get an interest rate of 4.5%. FDs maturing between 91 days and 184 days will fetch you an interest rate of 4.75%. FDs maturing between 185 days and 270 days will get you an interest rate of 5.75%. FDs maturing between 271 days and less than one year will get an interest rate of 6%. FDs maturing between one year and less than fifteen months will get an interest rate of 6.7%. FDs maturing between 15 months and two years will get an interest rate of 7.2%. FDs maturing between two years one day and five years will fetch you an interest rate of 7%. FDs maturing between five years one day and ten years will get an interest rate of 6.9%. .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:10px;font-weight:500;line-height:18px;} #sr_widget .sr_desc{margin:0 auto 0;} #sr_widget .sr_desc{color: #024d99;}
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The interest rate on ICICI Bank tax-savings FD which has a tenure of 5 years will be 7%.
Table showing ICICI Bank FD interest rates, effective from February 17, 2024:
Maturity periodInterest rate7 days to 14 days3%15 days to 29 days3%30 days to 45 days3.50%46 days to 60 days4.25%61 days to 90 days4.50%91 days to 120 days4.75%121 days to 150 days4.75%151 days to 184 days4.75%185 days to 210 days5.75%211 days to 270 days5.75%271 days to 289 days6%290 days to less than 1 year6%1 year to 389 days6.70%390 days to less than 15 months6.70%15 months to less than 18 months7.20%18 months to 2 years7.20%2 years 1 day to 3 years7%3 years 1 day to 5 years7%5 years 1 day to 10 years6.90%5 years7%Source: ICICI Bank website as of February 17, 2024
ICICI Bank revises senior citizen FD rates
Senior citizens get an additional 50 basis points (0.5%) interest rate on all FD tenures in ICICI Bank. The bank further offers an extra interest rate of 5 bps or 10 bps over and above the 50-bps extra interest rate offered to senior citizens on select FD tenures.According to the ICICI Bank website as of February 17, 2024, "An additional interest rate of 5 basis points (bps) over & above the existing 50 bps, will be paid to Senior Citizens on FDs (less than Rs 2 crore) for tenures of 15 months to less than 18 months and 18 months to less than 2 years. An additional interest rate of 10 bps over & above the existing 50 bps will be paid to Senior Citizens on FDs (less than Rs 2 crore) for tenures of 5 years and above."
ICICI Bank offers a 3.5% interest rate for FDs maturing between 7 days and 29 days. FDs maturing between 30 days and 45 days will fetch you an interest rate of 4%. For FDs maturing between 46 days and 60 days, the bank offers an interest rate of 4.75%.
FDs maturing between 61 days and 90 days will get an interest rate of 5%. FDs maturing between 91 days and 184 days will fetch you an interest rate of 5.25%. FDs maturing between 185 days and 270 days will get you an interest rate of 6.25%. FDs maturing between 271 days and less than one year will get an interest rate of 6.5%.
FDs maturing between one year and less than fifteen months will get an interest rate of 7.2%. FDs maturing between 15 months and two years will get an interest rate of 7.75%. FDs maturing between two years one day and five years will fetch you an interest rate of 7%. FDs maturing between five years one day and ten years will get an interest rate of 7.5%.
Interest rate tax-savings FD which has a tenure of five years is 7.5%.
This story originally appeared on: India Times - Author:Faqs of Insurances
