INSUBCONTINENT EXCLUSIVE:
Private sector lender ICICI Bank has revised its fixed deposit (FD) interest rates on select maturities with effect from June 17, 2019
ICICI Bank has slashed the FD interest rates applicable on the maturity periods of 61 days to 90 days, 91 days to 120 days and 121 days to
184 days, among others according to the bank's website, icicibank.com
The lender is offering an interest rate of 6 per cent to general public and 6.5 per cent to senior citizens in the above mentioned maturity
and senior citizens respectively on FDs of the same amount in the given maturities respectively.Similarly, the lender is offering 7 per cent
and 7.5 per cent on maturity period of 390 days to 2 years to general public and senior citizens, respectively
It slashed interest rates by 10 basis points (0.10 per cent) for both the categories.In the maturity period category of 2 years 1 day up to
3 years, ICICI Bank has cut interest rates by 20 basis points
The maturity period now fetches 7.3 per cent and 7.8 per cent for general public and senior citizens, respectively.Fixed deposit interest
rates are subject to change from time to time
period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961.
