Many banks are now offering more interest on FD than before. Private sector giant ICICI Bank is also increasing FD interest rates continuously. Once again the bank has announced an increase in interest rates. The new rates of the bank have become effective from April 28, 2022.
New Delhi. The process of increasing the interest rates of fixed deposits continues continuously. Many banks are now offering more interest on FD than before. Private sector giant ICICI Bank is also increasing FD interest rates continuously. Once again the bank has announced an increase in interest rates.
According to the ICICI Bank website, the interest rates on FDs of various tenors ranging from Rs 2 crore to Rs 5 crore have been increased by 10 basis points i.e. 0.10 per cent. The new rates of the bank have become effective from April 28, 2022.
FDs with 5 basis point growth
This private sector bank will now give 4.35 percent interest on deposits from 1 year to 389 days. Earlier it was 4.3 per cent. Similarly, the rate of interest on FDs from 390 days to less than 15 months has also been increased to 4.35 percent. Whereas, FDs with maturity of more than 15 months and less than 18 months are now being offered 4.45 percent interest instead of 4.4 percent earlier.
FDs with 10 basis point increments
The bank is now giving 0.10 percent more interest on FDs with a tenor of 18 months to 2 years. Earlier it was 4.5 percent which has been increased to 4.6 percent. The interest rate on deposits with maturities ranging from 2 years 1 day to 3 years has gone up to 4.7 percent. Similarly, the interest rate on fixed deposits of 3 years 1 day to 5 years and 5 years 1 day to 10 years has been increased by 10 basis points to 4.8 per cent.
The interest rates for general and senior citizens have been kept the same. Since January this year, the bank has increased interest rates several times.