ICICI Bank FD Rates have increased ahead of Diwali, bringing higher interest earnings for customers investing in fixed deposits.
The private sector lender has raised interest rates by 10 basis points on select fixed deposit tenures below Rs 3 crore, benefiting both general citizens and senior citizens.
Following the revision, general customers can earn up to 6.60% interest on eligible fixed deposits, while senior citizens can receive up to 7.20%.
The revised rates make certain medium and long-term deposits more attractive for customers looking for predictable returns.
ICICI Bank FD Rates: What’s New?
ICICI Bank has revised interest rates on selected fixed deposit tenures by 0.10 percentage points.
The changes cover deposits ranging from two years and one day to longer investment periods, including the five-year tax-saving FD.
Here are the revised interest rates for general citizens:
7 to 45 days: 2.75%
46 to 90 days: 4.00%
91 to 184 days: 4.50%
185 days to less than one year: 5.50%
One year to less than 18 months: 6.25%
18 months to two years: 6.30%
Two years and one day to three years: 6.55%
Three years and one day to five years: 6.60%
Five years and one day to 10 years: 6.60%
The highest interest rate for general customers is now 6.60% on eligible deposit tenures.
The revised rates also apply to the five-year tax-saving fixed deposit.
Senior Citizens Can Earn Up to 7.20%
Senior citizens receive additional interest benefits on eligible ICICI Bank fixed deposits.
Following the latest revision, the bank has increased rates on selected tenures by 10 basis points.
The revised interest rates for senior citizens include:
Two years and one day to three years: 7.05%
Three years and one day to five years: 7.20%
Five years and one day to 10 years: 7.10%
Five-year tax-saving FD: 7.20%
With this revision, senior citizens can earn a maximum interest rate of 7.20% on eligible fixed deposits.
The additional interest offered to senior citizens can help them generate comparatively higher returns from their savings.
Fixed deposits are often considered by retirees and conservative investors who prefer predictable interest earnings over market-linked investments.
What Should Customers Check Before Investing?
The ICICI Bank FD rates increase is relevant for customers planning to invest their savings before Diwali.
However, investors should compare interest rates across different tenures rather than selecting a deposit only because it offers the highest advertised return.
The interest rate depends on the selected deposit period and the customer’s eligibility. Senior citizens should also check the additional interest benefits applicable to their chosen tenure.
Customers considering the five-year tax-saving FD should understand its lock-in period and tax-related conditions before making an investment decision.
It is also important to remember that fixed deposits have different interest payout options, including monthly, quarterly and cumulative arrangements, depending on the bank’s available terms.
The actual maturity amount will depend on the investment amount, tenure and selected payout option.
Before opening a new FD, customers should check the applicable interest rate and deposit conditions through ICICI Bank’s official channels.
