ICICI Bank has increased interest rates by 10-20 basis points on deposits of various tenors. The bank has told that interest rates are being increased on FDs with maturity from 290 days to 10 years. The new rates have become effective from May 16, 2022.
New Delhi. ICICI Bank, the second largest private sector bank, has once again increased the interest rates on fixed deposits up to Rs 2 crore. The bank has told that interest rates are being increased on FDs with maturity from 290 days to 10 years. The new rates have become effective from May 16, 2022.
ICICI Bank has increased interest rates by 10-20 basis points on deposits of various tenors. Interest rate will be 2.5 percent on deposits from 7 days to 29 days and interest rate of 3.5 percent on deposits from 30 days to 90 days. The interest rate on FDs from 185 days to 289 days will remain 4.4 percent without any change.
These are the new rates
The interest rate on deposits from 290 days to one year has been increased from 4.4 percent to 4.5 percent. It has increased by 10 basis points. Whereas on deposits of 1 to 2 years tenor, the bank has increased the interest rate by 10 basis points to 5.1 percent. The interest rate on fixed deposits with tenures ranging from 2 years 1 day to 3 years has been increased by 20 basis points. It has increased from 5.2 per cent to 5.4 per cent.
Higher interest to senior citizens
Similarly, the bank is now offering 5.6% interest on deposits with tenures ranging from 3 years 1 day to 5 years. It has increased by 15 basis points. The bank will now give 5.75 percent interest on fixed deposits of 5 years 1 day to 10 years. This was increased by 15 basis points. At the same time, 5.6 percent interest will now be available on tax saving FDs up to Rs 1.5 lakh. Senior citizens will continue to get half percent more interest on deposits from 7 days to 5 years.
ICICI Bank is offering 6.35 percent interest on its Golden Years FD. The special FD scheme with a tenor of 5 years 1 day to 10 years is called Golden Years FD. This rate of special FD is till October 7, 2022.