ICICI BANK INCREASE INTEREST RATES ON FIXED DEPOSITS

 

New Delhi: ICICI Bank has increased the fixed deposit rates in a bid to provide better returns to FD investors. The private sector lender has increased the deposit rates by 5 to 10 basis points. The new deposit rates are effective from Thursday, April 28, 2022. 

ICICI Bank has increased the interest rates for fixed deposit investments worth more than Rs 2 crore to Rs 5 crore. The FD investments should be of tenures of more than 1 year to receive better returns on investments. ICICI Bank has kept the interest rates unchanged on FDs with a maturity period of less than one year.  

ICICI Bank Increased FD Rates 

ICICI Bank is now offering an increased interest rate of 4.35% on fixed deposit investments with a maturity period of 1 year to 389 days. The lender was offering an interest rate of 4.30% on such investments. Also, investors will now get returns at a 4.35% rate for FD investments maturing in 390 days to less than 15 months. 

Meanwhile, ICICI Bank has increased the interest rate on term deposits maturing within 15 months to less than 18 months to 4.45%. The previous FD interest rate on such policies was 4.40%. 

Investors, however, will receive better returns on FDs with a longer maturity period. For instance, ICICI has increased the interest rate on FD investments with a maturity period of 18 months to 2 years by 10 basis points to 4.60%.  Also, investors will now receive returns at a 4.70% interest rate on term deposits with a maturity period of 2 years 1 day to 3 years, up by 10 basis points or 0.10% from 4.60% earlier.

Maturity Period And Interest Rates :

7 days to 14 days: 2.5%  

15 days to 29 days: 2.5%  

30 days to 45 days: 2.75% 

46 days to 60 days: 2.75% 

61 days to 90 days: 3%

91 days to 184 days: 3.35% 

3 years 1 day to 5 years and 5 years 1 day to 10 years: 4.80%