ICICI Bank has recently revised its FD rates and the new rates will be effective for the FDs that have been opened after August 6, 2024. Here you will find an overview of the new rates and what they are going to mean for the investors.
New FD Rates Overview
ICICI Bank has revised its FD interest rates across different maturities. The best rate is 7 as compared to previous performances and changes made in the fixed rate table. 25% for fixed deposits whose term is between fifteen months and two years. For senior citizens the rate is even less at least 7.
The Web-Based Information Search Assistance for Disabled and Elderly People Actively USED BY Disabled and Elderly. 80%. These rates are standard for the deposits up to ₹3 crore.
Deposits and Loan Rates Based on Tenor
Short-Term Deposits: For fixed deposits that have a maturity period of between 7 and 29 days, the interest rate is 3 % as well. Deposits that are for the period of 30-45 days the interest rate is 3.5% while for all maturities between 46 and 60 days, interest is charged at 4.25%.
Medium-Term Deposits: Deposits with the term of 61 to 90 days will provide an interest of 4.5%. Those maturing in 91 to 184 days attracts an interest rate of 4% for those maturing between 91 to 184 days. 75%. If a deposit term ranges from 190 to 270 days then it will earn a rate 5.75%.
Long-Term Deposits: Other positions of fixed deposits which range from 271 days to upto one year will attract the rate of 6%. Deposits with terms ranging from one year to less than 15 months attract interest charges of 6 percent. 7%.
High charges and bonuses
Currently, ICICI Bank has hiked its rates by 5 basis points for the specific maturity period of 15 months to 2 years of fixed deposits. That is, even this small but real increase means that now the earnings can be 7 times the rate. As for the interest rates, a 25 per cent interest will apply to these periods. For longer tenures:
- 2 to 5 Years: Deposits between 2 years and one day and 5 years will attract an interest of 7%.
- 5 to 10 Years: Deposits between 5 years and one day and 10 years will attract 6 percent interest rate. 9% interest.
Additional Benefits for Senior Citizens
Senior citizens can benefit from an additional interest rate of 0.55% on FDs with tenures of 15 months to 18 months. This offer provides a higher return for those who have invested less than ₹3 crore.
These updated FD rates reflect ICICI Bank’s commitment to providing competitive returns to its customers. Whether you’re looking to invest for the short term or long term, these rates offer a range of options to suit different financial goals.
