ICICI Bank FD Rate: ICICI Bank pays a 6.85% interest to senior citizens on a fixed deposit of one yearICICI Bank pays interest rates to the tune of 4-7.10 per cent to customers on fixed deposits up to Rs 2 crore.
These fixed deposits, also known as retail term deposits, are available in a total 16 maturity options ranging from seven days to 10 years at the private sector lender.
ICICI Bank pays higher returns to senior citizen retail depositors compared to other customers.
For example, on a fixed deposit up to Rs 2 crore of one year, ICICI Bank pays interest at the rate of 6.85 per cent to senior citizen customers and 6.35 per cent to other customers, according to its website - icicibank.com.(: Compare Bank FD Rates Paid By Peers Here)ICICI Bank Fixed Deposit RatesMaturity PeriodInterest Rate (With Effect From November 20)PublicSenior CitizenSeven to 14 days4%4.50%15 to 29 days4.25%4.75%30 to 45 days5%5.50%46 to 60 days5.50%6%61 to 90 days5.50%6%91 to 120 days5.50%6%121 to 184 days5.50%6%185 to 289 days5.75%6.25%290 days to less than one year6%6.50%One year to 389 days6.35%6.85%390 days to less than 18 months6.35%6.85%18 months to two years6.60%7.10%Two years and one day up to three years6.60%7.10%Three years and one day up to five years6.60%7.10%Five years and one day up to 10 years6.60%7.10%Five years tax-saver FD6.60%7.10%(Source: icicibank.com)Investment in fixed deposits with a maturity period of five years offers income tax benefit up to Rs 1.5 lakh per financial year under Section 80C of the Income Tax Act.
Interest income, however, is subject to income tax.