- 1 year FD will get 5% interest
- New interest rates come into effect from August 10
ICICI Bank has cut interest on fixed deposits (FD). Now you will get 5% interest on one year FD. The bank is now paying a maximum of 5.50 percent interest. This interest is available on FD of 5 to 10 years. The new interest rates come into effect from August 10. Earlier, Canara Bank also cut FD interest rates.
Interest rate on FD
| Period | New Interest Rate (%) | Old Interest Rate (%) |
| 7 to 14 days | 2.50 | 2.50 |
| 15 to 29 days | 2.50 | 2.50 |
| 30 to 90 days | 3.00 | 3.00 |
| 91 to 184 days | 4.00 | 4.10 |
| 185 to 289 days | 4.40 | 4.50 |
| 290 days to less than 1 year | 4.50 | 4.75 |
| 1 year to 18 months | 5.00 | 5.15 |
| 18 months to 3 years | 5.10 | 5.35 |
| Over 3 and under 5 years | 5.35 | 5.50 |
| Over 5 and up to 10 years | 5.50 | 5.50 |
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How much loss will you lose due to lower interest rate
First: Investing the first 1 lakh rupees for 1 year gives you about Rs 105,150 after one year at an interest rate of 5.15%.
Now: Now if you invest 1 lakh rupees for 1 year, now you will get around 105,000 rupees after one year with an interest rate of 5%.
CICI Bank is giving more interest to senior citizens ICICI Bank’s special FD scheme for senior citizens has been named ‘ICICI Bank Golden Years’. Under ‘ICICI Bank Golden Years’, 0.80% interest is being received from ordinary FD. Under this, investments can be made from 5 years to 1 day to 10 years. You can invest up to 2 crore rupees in it.
