Private sector lender, ICICI Bank has raised its fixed deposits interest rates by 10 basis points on tenures above 1 year to 10 years. The FD rates are hiked on deposits above ₹2 crore but less than ₹5 crore.
With effect from April 14, ICICI Bank offers a 4.25% interest rate on 1 year to 389 days and 390 days to less than 15 months tenure compared to the previous 4.15%.
Further, the bank offers a 4.30% rate on 15 months to less than 18 months tenure from the previous 4.20%, while 4.40% is applicable on 18 months to 2 years tenure from the previous 4.30%. Meanwhile, a 4.6% rate is offered on 2 years 1 day to 3 years tenure compared to the previous 4.5%.
For 3 years to 10 years tenure, the bank is offering a 4.7% interest rate on FDs from the previous 4.60%.
These revised interest rates will be applicable for new deposits and renewal of existing term deposits.
However, not all rates were hiked as the bank kept interest rates on FDs from ₹2 crore to ₹5 crore unchanged on tenures below 1 year.
The bank continues to offer a 2.5% interest rate each on 7 days to 14 days and 15 days to 29 days tenure, while 2.75% each is given on 30 days to 45 days and 46 days to 60 days. A 3% rate applies on 61 days to 90 days tenure.
Also, a 3.35% interest rate each is applicable on tenures from 91 days to 184 days. Further, 3.60% is given from 185 days to 270 days. While a 3.70% interest rate each is offered from 271 days to less than 1-year tenure.