Tuesday, March 19, 2024
HomeBusinessFinanceICICI Bank revises bulk FD rates from today, interest rate as high...

ICICI Bank revises bulk FD rates from today, interest rate as high as 6.80%

[ad_1]

Private sector banker, ICICI Bank revised bulk fixed deposit interest rates for both general category and senior citizens with effect from November 23, 2022. A depositor can earn as high as 6.80% on FDs between 2 crore to 5 crore. The rates are some for both elderlies and the general public, while ranging from 3.75% to 6.80%. ICICI Bank has also revised rates on FDs from 5 crore and above with a premature withdrawal facility. The minimum tenure is 7 days while it can be at a maximum of 10 years.

As per the bank’s website, with effect from November 23, the interest rate is highest at 6.80% for both general category and senior citizens on FDs between 2 crore to 5 crore for tenures ranging from 15 months to 3 years. The rate is 6.50% for 3 years 1 day to 10 years tenure. The bank also offers a 6.75% rate on tenures from 1 year to less than 15 months.

The bank offers a 6.25% rate on tenures from 271 days to less than 1 year, while the rate is set at 6% on tenures from 185 days to 270 days.

An interest rate of 5.75% is offered on tenures from 91 days to 184 days. There is an interest rate of 5.25% provided on 61 days to 90 days tenure, while the rate is 5% on 46 days to 60 days, and 4.75% on 30 days to 45 days tenures.

On the shorter period from 7 days to 29 days tenure, ICICI Bank is offering a 3.75% rate to both categories.

On FDs from 5 crore and above, the bank is offering interest rates from 3.75% to a maximum of 7.15% with effect from November 23. These FDs have premature withdrawal facilities.

The bank has kept FD rates on deposits below 2 crore unchanged. It offers from 3% to 6.60% rate to the general public on these FDs, while senior citizens enjoy much higher rates from 3.50% to 7.10%. The 5-year tax saving FD scheme is also applicable on deposits below 2 crore. One customer can avail of a maximum tax deduction of 1. 5 lakh from taxable income through an ICICI Bank FD.

Notably, ICICI Bank also has a Golden Years FD Interest Rates scheme which has been revised from November 16, 2022. Here, resident senior citizen customers will get an additional interest rate on an FD of 0.10% for a limited time over and above the existing additional rate of 0.50% per annum. The eligible tenure for this scheme is 5 years 1 day to 10 years, while the deposit amount should be less than 2 crore. The scheme is scheduled to end on April 7, 2023.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

[ad_2]

Source link

RELATED ARTICLES

most popular

Recent Comments