ICICI FD Interest Rates: as the Reserve Bank India (RBI) hiked its key repo rate by 50 basis points last week to control inflation in the country, banks are following suit by increasing their interest rates on deposits and loans. ICICI Bank Punjab has also joined the list of banks including National Bank and State Bank of India, which have increased their interest rates. ICICI Bank has increased its rates Fixed deposit (FD) Prasad. Here are ICICI Bank’s latest FD interest rates applicable on deposits below Rs 2 crore, effective Thursday (June 16):
ICICI Bank FD interest rate (on deposits less than Rs 2 crore):
7 days to 14 days: for general public – 2.75 percent; For senior citizens – 3.25 percent
15 days to 29 days: for general public – 2.75 percent; For senior citizens – 3.25 percent
30 days to 45 days: for general public – 3.25 percent; For senior citizens – 3.75 percent
46 days to 60 days: for general public – 3.25 percent; For senior citizens – 3.75 percent
61 days to 90 days: for general public – 3.25 percent; For senior citizens – 3.75 percent
91 days to 120 days: for general public – 3.75 percent; For senior citizens – 4.25 percent
121 days to 150 days: for general public – 3.75 percent; For senior citizens – 4.25 percent
151 days to 184 days: For general public – 3.75 percent; For senior citizens – 4.25 percent
185 days to 210 days: for general public – 4.60 percent; For senior citizens – 5.10 percent
211 days to 270 days: for general public – 4.60 percent; For senior citizens – 5.10 percent
271 days to 289 days: for general public – 4.60 percent; For senior citizens – 5.10 percent
290 days to less than 1 year: for general public – 4.60 percent; For senior citizens – 5.10 percent
1 year to 389 days: for general public – 5.30 percent; For senior citizens – 5.80 percent
390 days to less than 15 months: for general public – 5.30 percent; For senior citizens – 5.80 percent
15 months to less than 18 months: for general public – 5.30 percent; For senior citizens – 5.80 percent
18 months to 2 years: for general public – 5.30 percent; For senior citizens – 5.80 percent
2 years 1 day to 3 years: for general public – 5.50 percent; For senior citizens – 5.80 percent
3 years 1 day to 5 years: for general public – 5.70 percent; For senior citizens – 6.20 percent
5 years 1 day to 10 years: for general public – 5.75 percent; For senior citizens – 6.50 percent.
Many banks are increasing their fixed deposit interest rates after the RBI’s announcement on June 8. Recently, several other banks have increased their interest rates on fixed deposits in multiple tenor baskets for retail customers.
RBI’s Monetary Policy Committee last week unanimously decided to raise the repo rate by 50 basis points to 4.90 per cent with a focus on the return of housing. This has prompted lenders to increase interest rates on loans.
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