ICICI Bank FD Update: Fixed deposits (FDs) are a popular choice for people who want safe and steady returns.
But there’s bad news for such investors. ICICI Bank, one of India’s leading banks, has reduced its FD interest rates.
The new rates apply to deposits below ₹3 crore. Now, regular customers will get interest between 3% and 7.05%, while senior citizens will get between 3.5% and 7.55%. These new rates are effective from May 26, 2025.
Which FD tenures saw a rate cut?
ICICI Bank has reduced interest rates on fixed deposits of different durations. Here are the revised rates:
Less than 1 year to 15 months: Interest cut by 20 basis points, from 6.7% to 6.5%
15 months to less than 18 months: Interest reduced from 6.8% to 6.6%
18 months to 2 years: New rate is 6.85%, down from 7.05%
2 years 1 day to 5 years: Reduced by 15 basis points — now 6.75% instead of 6.9%
5 years 1 day to 10 years: Rate cut to 6.7% from 6.8%
Tax-saver FD: Interest also cut — now 6.75% instead of 6.9%
Senior citizen FD rates also revised
The bank has also cut FD rates for senior citizens. The highest return they can now get is 7.35% on deposits made for 18 months to 2 years.
ICICI Bank also changed RD interest rates
ICICI Bank has revised recurring deposit (RD) rates too. The new RD rates are:
For general public: Between 4.75% to 6.85%
For senior citizens: Between 5.25% to 7.35%
How do ICICI’s rates compare to other banks?
Here’s a quick look at FD interest rates from other major banks:
HDFC Bank: Offers 3.00% to 7.05% for regular customers and 3.50% to 7.55% for seniors. Highest rate for senior citizens is 7.55% for 15–18 months.
State Bank of India (SBI): Offers 3.30% to 7.50% for regular customers and 3.80% to 7.75% for seniors. Under the Amrit Vrishti (444 days) scheme, seniors get 7.35%.
Punjab National Bank (PNB): Offers 3.50% to 7.25% for regular customers and 4.00% to 7.75% for seniors. For a 390-day tenure, senior citizens earn 7.50%.
Canara Bank: Offers 4.00% to 7.25% for regular customers and 4.00% to 7.75% for seniors. On a 444-day tenure, seniors can get up to 7.75%.
