Fixed deposit interest rates are subject to change from time to time.ICICI Bank has revised its fixed deposit (FD) interest rates with effect from October 23, 2019.
ICICI Bank has lowered the interest rates by up to 0.15 percentage point (15 basis points) on select maturities, according to the privatesector lender's website -- icicibank.com.
On fixed deposits up to Rs 2 crore of a maturity period of between 1 year and 389 days, ICICI Bank now offers an interest rate of 6.45 per cent to the general public and 6.95 per cent to senior citizens.
Previously, the bank paid interest rates of 6.60 per cent and 7.10 per cent to the general public and senior citizens respectively on FDs of this term.After the revision, ICICI Bank now pays interest to the tune of 6.85 per cent to the general public and 7.35 per cent to senior citizens on fixed deposits of 18 months to 1 year term, according to its website.PeriodGeneral public (% p.a.)Senior citizens (% p.a.)7 days to 14 days4%4.50%15 days to 29 days4.25%4.75%30 days to 45 days5%5.50%46 days to 60 days5.50%6%61 days to 90 days5.50%6%91 days to 120 days5.50%6%121 days to 184 days5.50%6%185 days to 289 days6%6.50%290 days to less than 1 year6.25%6.75%1 year to 389 days6.45%6.95%390 days to < 18 months6.45%6.95%18 months to 2 years6.85%7.35%2 years 1 day upto 3 years6.75%7.25%3 years 1 day upto 5 years6.75%7.25%5 years 1 day upto 10 years6.75%7.25%5 Years Tax saver FD(Max upto Rs.1.50 lakh)6.75%7.25%(Source: ICICI Bank)Fixed deposit interest rates are subject to change from time to time.
Earlier this month, State Bank of India (SBI) and Punjab National Bank (PNB) cut their FD rates.The Reserve Bank of India has so far this year reduced the repo rate by a total 135basis points in fiveconsecutive bi-monthly reviews.
The central bank will release its fifthbi-monthly policy statement of the current financial year on December 5.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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