ICICI Bank Hikes Fixed Deposit (FD) Interest Rates
Private sector lender ICICI Bank hiked its fixed deposit or FD interest rates across select maturities and amounts with effect from today. ICICI Bank revised FD interest rates for both general and senior citizens. ICICI Bank joined peers State Bank of India, HDFC Bank, Punjab National Bank and Canara Bank, which revised their FD interest rates recently. The latest round of hikes from major banks have come after the Reserve Bank of India hiked its key lending rate this month. SBI was an exception as it raised its fixed deposit interest rates ahead of the repo rate hike.
ICICI Bank fixed deposit or FD Interest rates on domestic, NRO & NRE deposits (less than Rs 1 crore) from icicibank.com
| Tenure Period | Rate of Interest (% p.a.) w.e.f August 14, 2018 | |
|---|---|---|
| General | Senior Citizen* | |
| 7 days to 14 days | 4 | 4.5 |
| 15 days to 29 days | 4.25 | 4.75 |
| 30 days to 45 days | 5.5 | 6 |
| 46 days to 60 days | 5.75 | 6.25 |
| 61 days to 90 days | 6 | 6.5 |
| 91 days to 120 days | 6 | 6.5 |
| 121 days to 184 days | 6 | 6.5 |
| 185 days to 289 days | 6.5 | 7 |
| 290 days to less than 1 year | 6.75 | 7.25 |
| 1 year to 389 days | 6.75 | 7.25 |
| 390 days to 2 years | 7 | 7.5 |
| 2 years 1 day upto 5 years | 7.25 | 7.75 |
| 5 years 1 day upto 10 years | 7 | 7.5 |
| 5 Years Tax saver FD(Max upto Rs. 1.50 lac) | 7.25 | 7.75 |
ICICI Bank raised FD interest rates between 15 basis points and 25 basis points across select maturities. This means that ICICI Bank hiked FD interest rates between 0.15 per cent and 0.25 per cent. One basis point is equal to 0.01 per cent. (Also Read: Previous ICICI Bank FD Interest Rates)
ICICI Bank staff (including retired staff) will get additional 1 per cent interest rate on domestic fixed deposit below Rs 1 crore, the bank said.