ICICI Bank has increased interest rates by 5 basis points (bps) on fixed deposits of more than Rs 2 crore but less than Rs 5 crore. The bank has increased the interest rates on deposits with maturities ranging from one year to ten years. The new rates will be applicable from March 30, 2022.
As per the increased FD rates, now the tenure of 1 year to 389 days and 390 days to less than 15 months will get the rate of 4.20%. Whereas earlier the rate of FD was being given here at 4.15%. For tenures from 15 months to less than 18 months, a rate of 4.25% will be available. Whereas the rate of 4.35% is offered from 18 months to 2 years.
On the other hand, depositors will be able to take interest at the rate of 4.55% on investment of 2 years 1 day to 3 years. Along with this, the rate of 4.65% will be given on the tenure of 3 years to 10 years from the previous 4.6%.
Please note that the interest rates on FDs have been kept unchanged for the rest of the tenure. ICICI Bank will offer 3.70% rate for tenures ranging from 271 days to less than 1 year. Additionally ICICI Bank offers a rate of 2.75% between 30 days to 60 days and 2.5% between a tenure of 7 days to 29 days by the bank.