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ICICI Bank Hikes Interest Rates On Bulk Fixed Deposits
India's largest private sector bank, ICICI Bank introduced a hike in interest rates on bulk fixed deposits of over Rs 2 crore to less than Rs 5 crore. The new interest rates have already become effective from March 22, 2023. After the hike, the leading bank is offering interest rates in the range of 4.75% to 6.75% on fixed deposits from the tenure of 7 days to 10 years, according to ICICI Bank's official website.
It is worth noting that for fixed deposits for the tenure of 1 year to 389 days, regular residents and senior citizens can fetch a maximum interest rate of 7.25%. The minimum interest rate begins from the tenor of 7 days to 29 days wherein customers can get an interest rate of 4.75%.
FDs maturing in 91 days to 120 days, the bank is offering its customers an interest rate of 6.50%. The rate of interest offered to regular citizens and senior citizens remains the same.
The bank offers an interest rate of 7.15% for FDs maturing in 15 months to less than 18 months to customers.
Customers gets an interest rate of 6.75% for FDs for the tenure of 5 years 1 day to 10 years.
Check the table below for more details:
| Tenure | Interest rate for general citizens | Interest rate for senior citizens |
|---|---|---|
| 7 days to 14 days | 4.75% | 4.75% |
| 15 days to 29 days | 4.75% | 4.75% |
| 30 days to 45 days | 5.50% | 5.50% |
| 46 days to 60 days | 5.75% | 5.75% |
| 61 days to 90 days | 6.00% | 6.00% |
| 91 days to 120 days | 6.50% | 6.50% |
| 121 days to 150 days | 6.50% | 6.50% |
| 151 days to 184 days | 6.50% | 6.50% |
| 185 days to 210 days | 6.65% | 6.65% |
| 211 days to 270 days | 6.65% | 6.65% |
| 271 days to 289 days | 6.75% | 6.75% |
| 290 days to less than 1 year | 6.75% | 6.75% |
| 1 year to 389 days | 7.25% | 7.25% |
| 390 days to | 7.25% | 7.25% |
| 15 months to | 7.15% | 7.15% |
| 18 months to 2 years | 7.15% | 7.15% |
| 2 years 1 day to 3 years | 7.00% | 7.00% |
| 3 years 1 day to 5 years | 6.75% | 6.75% |
| 5 years 1 day to 10 years | 6.75% | 6.75% |
| 5 Years (80C FD) - Max to Rs 1.50 lakh | NA | NA |
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