ICICI Bank has given a gift to its customers in the new year. The bank has increased the interest rates of fixed deposits. Now the customers will get more interest on the deposit amount. Many banks are continuously increasing the interest rates of fixed deposits.
Private sector bank ICICI Bank has increased the interest rates on Fixed Deposits (FD). The bank has increased the interest rates on FDs ranging from Rs 2 crore to Rs 5 crore. According to the official website of the bank, the new rates have come into effect from January 2, 2023. After the change in interest rates, the bank is now providing interest ranging from 4.50 per cent to 6.75 per cent on FDs maturing in 7 days to 10 years.
New interest rates
ICICI Bank will now pay a maximum interest of 7.15 per cent on deposits between 15 months and two years. The bank is now offering 4.50 per cent interest on deposits maturing in 7 days to 29 days and 5.25 per cent interest on deposits maturing in 30 days to 45 days.
The bank has fixed an interest rate of 5.50 per cent for FDs maturing in 46 to 60 days. At the same time, interest will be given at the rate of 5.75 percent on FDs maturing in 61 to 90 days. Deposits maturing in 91 to 184 days will now get 6.25% interest. FDs maturing in 185 to 270 days will now get interest at the rate of 6.50 per cent.
Highest interest
ICICI Bank will get 6.65 percent interest on deposits of 271 days to less than one year and 7.10 percent interest on deposits of 1 year to 15 months. ICICI Bank is offering interest at the rate of 7.15 per cent on deposits ranging from 15 months to two years. At the same time, the bank is promising to pay interest at the rate of 7 percent on deposits ranging from two years one day to 3 years. Deposits maturing between three years and ten years will now get interest at the rate of 6.75 per cent.
Interest Rates for Senior Citizens
From December 16, 2022, the new interest rates of ICICI Bank are effective on deposits of less than Rs 2 crore. The bank offers interest at the rate of 7.5 per cent on FD to senior citizens above 60 years of age. Apart from ICICI Bank, many banks including Indian Overseas Bank, Punjab National Bank, Karnataka Bank and Fincare Small Finance Bank have increased the interest rates of fixed deposits.
