Mumbai: Leading private sector bank in the country, ICICI Bank has hiked the interest rate on fixed deposits worth more than Rs 2 crore but less than Rs 5 crore of various tenures from 1 year to 10 years by 10 basis points or 0.10%.
Investors will get 3% interest rate on fixed deposits maturing within 61 days to 90 days and 4.25% interest rate on FDs with a maturity period of 1 year to 389 days and 390 days to less than 15 months.
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The lender has increased the interest rate on FDs maturing within 15 months to 18 months to 4.30%. Investors can get returns at a 4.40% interest rate on deposits with a term of 18 months to 2 years. Interest rate on FDs with a tenure of 2 years 1 day to 3 years is surged to 4.6%.
The increased interest rates are applicable on new fixed deposits and renewals of existing term plans. Senior citizens will continue receiving a higher interest rate on all fixed deposit schemes. The bank offers 50 basis points or 0.50% higher interest rate on FD investments made by senior citizens.
Earlier several other banks have revised interest rates. These banks include State Bank of India, HDFC Bank, Bank of Baroda, and IndusInd Bank, among others.
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