ICICI Bank hikes FD interest rates by up to 50 bps; senior citizens can earn up to 7.6%, others can get up to 7.1%

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After SBI and HDFC Bank, ICICI Bank raised fixed deposit (FD) interest rates on retail deposits of up to Rs 2 crore. The bank has hiked interest rates by up to 50 basis points (bps) on select tenures. ICICI Bank now offers interest rates ranging from 3.5% to 7.10% on fixed deposits maturing between 7 days and 10 years for general citizens. The new FD rates will come into effect on February 24, 2023, according to the ICICI Bank website.After the hike, ICICI Bank offers a 3% interest rate on fixed deposits maturing between 7 days and 29 days and a 3.50% interest on fixed deposits maturing between 30 days and 45 days. Deposits will now earn a 4.25% interest rate on tenure held between 46 days and 60 days. For fixed deposits maturing between 91 days and 184 days, the bank will offer an interest rate of 4.75%. Deposits maturing between 185 days and 270 days will now earn 5.75%, while deposits maturing between 271 days and less than 1 year days will now earn a 6% interest rate.

Also read: Latest Bank Fixed Deposit (FD) Interest Rates in India for 2023

The bank will now offer a 6.70% interest rate on deposits maturing between one year and less than 15 months. ICICI Bank now offers the highest interest rate of 7.10% on FDs maturing between 15 months and less than 2 years. For deposits maturing between two years and a day and 5 years, the bank offers a 7% interest rate.
FDs maturing between five years and one day and 10 years will earn an interest rate of 6.9%.

On tax-saving fixed deposits the bank offers an interest rate of 7% for general citizens.

ICICI Bank FD interest rates
TenureGeneralSenior Citizen
7 days to 14 days3.00%3.50%
15 days to 29 days3.00%3.50%
30 days to 45 days3.50%4.00%
46 days to 60 days4.25%4.75%
61 days to 90 days4.50%5.00%
91 days to 120 days4.75%5.25%
121 days to 150 days4.75%5.25%
151 days to 184 days4.75%5.25%
185 days to 210 days5.75%6.25%
211 days to 270 days5.75%6.25%
271 days to 289 days6.00%6.50%
290 days to less than 1 year6.00%6.50%
1 year to 389 days6.70%7.20%
390 days to < 15 months6.70%7.20%
15 months to < 18 months7.10%7.60%
18 months to 2 years7.10%7.60%
2 years 1 day to 3 years7.00%7.50%
3 years 1 day to 5 years7.00%7.50%
5 years 1 day to 10 years6.90%#7.50%
5 Years (80C FD) – Max to `1.50 lac7.00%7.50%

Senior Citizen FD rates
Post revision, ICICI Bank offers the highest interest rate of 7.6% on fixed deposits maturing between 15 months and less than 2 years.ICICI Bank Golden Years FD Interest Rates
Under ICICI Bank Golden Years FD, senior citizen customers will get an additional interest rate of 0.10% over the existing additional rate of 0.50% per annum for FDs maturing between five years and one day and 10 years. This scheme is valid till April 7, 2023.

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