ICICI Bank FD Interest Rates: ICICI Bank hikes FD interest rates for various tenors

Joining the list of banks that have hiked fixed deposit (FD) interest rates this week is ICICI Bank. According to the ICICI Bank website, FD interest rates on amounts below Rs 2 crore have been increased effective from June 16, 2022. now offers an interest rate between 2.75 percent to 5.75 percent for tenors from 7 days to 10 years.

Term deposits with a maturity of 185 to less than one year now pay 4.60 percent, while those with a maturity of one year to two years will fetch 5.30 percent interest. ICICI Bank will now offer a 5.50 percent interest rate on two-year and one-day to three-year fixed deposits, and a 5.70 percent interest rate on three-year, one-day to five-year fixed deposits. For tenor five years one day to ten years, the interest rate offered is 5.75 percent.

ICICI Bank Golden Years FD interest rates

The Golden Years FD is an ICICI Bank term deposit scheme for senior citizens. Over and above the existing additional rate of 0.50 percent per year, resident senior citizen clients will receive an additional interest rate of 0.25 percent for a limited period.

FD tenure: 5 years 1 day up to 10 years

Scheme Period: Valid up to October 7th , 2022

Applicable on single FD of amount

SBI vs HDFC Bank Vs ICICI Bank: Which bank is offering highest FD interest rate

Banks hike FD interest rates

Lenders in the private and public sectors have been fast to raise interest rates on a variety of loan terms, and fixed deposits after the Reserve Bank of India (RBI) hiked repo rates twice in the last one month.

While increasing loan EMIs would put a dent in the borrowers’ pockets, those who have invested in bank fixed deposits will see their interest rates rise.

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