FD Rates: Compared to government banks, private banks are offering higher interest to their customers. ICICI Bank is also one of the private banks. Which has made changes in FD rates ranging from Rs 2 crore to Rs 5 crore for general public and senior citizens.
Fixed deposits i.e. FD schemes have always been a popular means of investment in the country. Actually, FD schemes guarantee security with fixed returns. At present, different banks are offering attractive interest rates on their FD schemes.
In this case, private banks are offering more interest to their customers as compared to government banks. ICICI Bank is also one of these private banks. Which has made changes in FD rates ranging from Rs 2 crore to Rs 5 crore for general public and senior citizens.
According to the bank’s website, the new FD rates of ICICI Bank are applicable from December 6. ICICI Bank offers 4.75 percent to 7.25 percent interest to both general and senior citizens on FDs maturing in seven days to ten years.
Apart from this, HDFC Bank has also increased the rates of FD with amount more than Rs 5 crore. These new FD rates of the bank are also applicable from December 6. Whereas the bank had recently revised its interest rates on non-withdrawal fixed deposits also.
Earlier, Federal Bank has increased the rates on FD schemes for 500 days, both withdrawal and non-withdrawal, by 7.50 percent. These new FD rates of the bank are applicable from December 5.
Not only private banks but also government banks have revised the rates of their FD schemes. In this, Bank of India has increased the rates of short term FD schemes to 5.25 percent. The bank offers interest rates ranging from 6.00 percent to 7.25 percent on FD schemes ranging from three months to one year.
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