If you are a customer of ICICI Bank of the private sector, then this news can be of use to you. Actually, ICICI Bank has increased the interest rate of fixed deposits. This increase is up to 0.10 percent. This interest rate will be applicable on fixed deposits of different tenors ranging from Rs 2 crore to Rs 5 crore.
what is the interest for which period
-ICICI Bank will now pay 4.35 percent interest on deposits from 1 year to 389 days apart from 15 months instead of 4.30 percent.
FDs with maturity of more than 15 months and less than 18 months are now being offered 4.45 per cent interest instead of the earlier 4.4 per cent.
The bank has increased by 0.10 percent to 4.60 percent on FDs from 18 months to 2 years.
The rate on deposits maturing in 2 years 1 day to 3 years has been increased by 0.10 per cent to 4.70 per cent.
In addition, the interest rate on deposits of 3 years 1 day to 5 years and 5 years 1 day to 10 years has been increased by 0.10 per cent to 4.80 per cent. Earlier, the interest rate on these tenors was 4.70 per cent.
At the same time, there has been no change in the interest rates on FDs of less than 1 year.