New Delhi: Interest rates on fixed deposits under Rs 2 crore have been raised by ICICI Bank, a private sector lender. Interest rates for deposits maturing in 290 days to 10 years have been raised as a result of the adjustment, which was announced today, May 16, 2022.
The interest rate on deposits maturing in 7 to 29 days will remain at 2.50 percent, while the rate on deposits maturing in 30 to 90 days will remain at 3%. The interest rate on deposits maturing between 91 and 184 days will remain at 3.5 percent, while the rate on deposits maturing between 185 and 289 days will remain at 4.40 percent.
The bank earlier offered a 4.40 percent interest rate on deposits maturing in 290 days to less than a year, but the rate will now be 4.50 percent, an increase of 10 basis points.
ICICI Bank used to offer a 5% interest rate on one- to two-year deposits, but it will now be 5.10 percent, a 10 basis point rise. The interest rate on deposits maturing in two years and one day to three years used to be 5.20 percent, but it is now 5.40 percent, a 20 basis point rise.
The interest rate for three-year, one-day to five-year deposits has been raised by 15 basis points, from 5.45 percent to 5.60 percent. ICICI Bank has raised the interest rate on long-term fixed deposits from 5 years 1 day to 10 years from 5.60 percent to 5.75 percent, a 15-basis-point increase, while tax savings fixed deposits of up to Rs 1.5 lakh would now return 5.60 percent rather than 5.45 percent, a 15-basis-point increase.
Senior citizens will continue to get a 0.50 percent bonus on deposits with terms ranging from seven days to five years. While the interest rate on a deposit tenor of 5 years 1 day to 10 years, which is nothing more than a special fixed deposit scheme known as ICICI Bank Golden Years FD, will be 6.35 percent, which is an additional 0.10 percent over and above the existing additional rate of 0.50 percent per annum for a limited time period up to October 7, 2022.
ICICI Bank interest rates on fixed deposits (FDs):
As of May 16, 2022, the following interest rates on domestic term deposits are in effect:
7 days to 14 days—2.50%
15 days to 29 days—2.50%
30 days to 45 days—3.00%
46 days to 60 days—3.00%
61 days to 90 days—3.00%
91 days to 120 days—3.50%
121 days to 150 days—3.50%
151 days to 184 days—3.50%
185 days to 210 days—4.40%
211 days to 270 days—4.40%
271 days to 289 days—4.40%
290 days to less than 1 year—4.50%
1 year to 389 days—5.10%
390 days to less than 15 months—5.10%
15 months to less than 18 months—5.10%
18 months to 2 years—5.10%
2 years 1 day to 3 years—5.40%
3 years 1 day to 5 years—5.60%
5 years 1 day to 10 years—5.75%
5 Years (80C FD) –Max to Rs 1.50 lac—5.60%