ICICI Bank has updated its Fixed Deposit (FD) interest rates, effective from August 6, 2024.
These new rates apply to FDs up to Rs 3 crore.
The bank now offers a maximum interest rate of 7.25% for general customers and 7.80% for senior citizens.
The highest interest rate offered to customers is 7.25%, while senior citizens can enjoy a higher rate of 7.80%.
Interest Rates for Different Tenures
The lowest interest rate is 3%, which is offered on FDs of 7-29 days. For FDs of 30-45 days, the interest rate is 3.5%. FDs maturing in 46-60 days will earn 4.25% interest.
If you invest in FDs of 61-90 days, you will get 4.5% interest. FDs of 91-184 days offer 4.75% interest, while those of 185-270 days offer 5.75% interest.
For FDs with tenures ranging from 271 days to less than one year, the interest rate is 6%.
FDs with tenures from one year to less than 15 months offer 6.7% interest.
Higher Interest for Longer Tenures
For FDs of 15 months to 2 years, the maximum interest rate is 7.25%. This rate also applies to FDs of 18 months to 2 years.
The bank has increased the rates by 5 basis points for these periods.
For FDs of 2 years 1 day to 5 years, the interest rate is 7%.
For FDs of 5 years 1 day to 10 years, the interest rate is 6.9%.
Special Rates for Senior Citizens
Senior citizens get an additional 0.55% interest on FDs made for a period of 15 months to 18 months.
This special rate is applicable to FDs less than Rs 3 crore.
