ICICI Bank has revised interest rates on select fixed deposits (FDs) below ₹3 crore. The bank has increased rates by 10 basis points on select longer-term deposits. Following the revision, senior citizens can earn interest of up to 7.20% on eligible fixed deposits, while general depositors can get up to 6.60%, depending on the deposit tenure.
ICICI Bank FD rates for general depositors
ICICI Bank has increased rates on select long-term fixed deposits. For deposits with a tenure of two years and one day to three years, the interest rate has risen from 6.45% to 6.55%.
For deposits with a tenure of three years and one day to five years, the rate has increased from 6.50% to 6.60%. The rate on deposits with a tenure of five years and one day to 10 years has also been raised from 6.50% to 6.60%.
The interest rate on the five-year Tax Saver FD has increased from 6.50% to 6.60%.
For shorter tenures, the bank offers 2.75% on deposits of seven to 45 days, 4% for 46 to 90 days and 4.50% for 91 to 184 days. Deposits of 185 days to less than one year earn 5.50%.
For deposits with a tenure of one year to less than 18 months, the rate is 6.25%, while deposits of 18 months to two years earn 6.30%.
ICICI Bank FD rates for senior citizens
Senior citizens can earn up to 7.20% on eligible fixed deposits following the revision.
For deposits with a tenure of two years and one day to three years, the interest rate has increased from 6.95% to 7.05%. For deposits of three years and one day to five years, the rate has risen from 7.10% to 7.20%.
The rate on deposits with a tenure of five years and one day to 10 years has increased from 7% to 7.10%. The five-year Tax Saver FD rate has also been raised from 7.10% to 7.20%.
For shorter tenures, senior citizens earn 3.25% on deposits of seven to 45 days, 4.50% for 46 to 90 days and 5% for 91 to 184 days. Deposits of 185 days to less than one year earn 6%.
The rate is 6.75% for deposits of one year to less than 18 months and 6.80% for deposits of 18 months to two years.
What should you check before investing in an FD?
Before opening a fixed deposit, customers should compare interest rates across different tenures and check whether a quoted rate applies to a regular FD or a special-tenure scheme. They should also review premature withdrawal penalties, interest payout options and applicable tax rules.
FD rates vary by tenure and customer category. Depositors should check the latest rates and terms on the bank’s official website before investing.
Read More: Indian Bank hikes FD rates on 555-day, 777-day deposits; check revised rates from October 23