ICICI Bank hikes Fixed Deposit interest rates
Private sector ICICI Bank has increased interest rates on fixed deposits (FDs) of more than Rs 2 crore but less than Rs 5 crore. Announcing this, the bank has informed that the new rates will be applicable from May 13. After this change, the bank is now giving 3 percent interest instead of 2.75 on deposits maturing in 7 to 29 days. Earlier the interest rate on deposits maturing in 30 to 60 days was 3 percent, but now the interest rate is 3.25 percent.
ICICI Bank will now pay 3.40 percent interest on deposits maturing in 61 to 90 days instead of 3.25 percent. Similarly, the interest rate on deposits maturing in 91 to 184 days was earlier 3.5 per cent, which the bank has increased to 3.6 per cent. However, there has been no change in the interest rate of 3.75 per cent on deposits maturing in 185 to 270 days.
ICICI Bank will maintain an interest rate of 4 per cent for deposits maturing in 271 days to less than 1 year. Also, the interest rate on deposits maturing in less than 1 year to less than 15 months has been retained at 4.5 per cent. At the same time, the interest rate on deposits maturing from 15 months to less than 18 months will be 4.65 percent. The interest rate on deposits maturing in 18 months to 2 years will be 4.7 percent.
The interest rate on deposits maturing in 2 years 1 day to 3 years remains stable at 4.8 percent. At the same time, 4.85 percent interest rate has not been changed on deposits maturing in 3 years 1 day to 10 years.
