Private sector bank increases interest rates on fixed deposits

Mumbai: Leading private sector bank in the country, ICICI Bank has hiked the interest rates on fixed deposits worth more than Rs 2 crore to Rs 5 crore. The lender has increased the rates by 5 to 10 basis points for deposits with a of tenure of more than 1 year . The new deposit rates are effective from Thursday, April 28, 2022. ICICI Bank has kept the interest rates unchanged on fixed deposits with a maturity period of less than one year.

ICICI Bank  hiked the interest rates of fixed deposit investments with a maturity period of 1 year to 389 days to   4.35% from 4.30%. Investors will now get returns at a 4.35% rate for FD investments maturing in 390 days to less than 15 months. It  has also increased the interest rate on term deposits maturing within 15 months to less than 18 months to 4.45% from 4.40%.

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ICICI Bank has increased the interest rate on FD investments with a maturity period of 18 months to 2 years to 4.60%. The interest rate on term deposits with a maturity period of 2 years 1 day to 3 years is 4.70%.

Maturity Period  and  Interest Rates :

7 days to 14 days: 2.5%

15 days to 29 days: 2.5%

30 days to 45 days: 2.75%

46 days to 60 days: 2.75%

61 days to 90 days: 3%

91 days to 184 days: 3.35%

3 years 1 day to 5 years and 5 years 1 day to 10 years: 4.80%