ICICI Bank Increases Fixed Deposit Interest Rates after RBI Rate Hike; Check FD Rates

ICICI Bank Fixed Deposit Interest Rates: Days after hiking the fixed deposit interest rates for some tenures, private lender ICICI Bank has yet again revised its FD rates. This comes a day after the Reserve Bank of India, or RBI increased repo rates by 0.40 per cent or 40 basis points, to tackle rising inflation in the country amid factors such as geopolitical tensions and supply shortage. The ICICI Bank FD interest rates have been hiked by up to 25 basis points, or 0.25 per cent, the bank said in a notification.

The new FD rates will come into effect from May 5, Thursday. It is applicable on deposits above Rs 2 crore and up to Rs 5 crore at the ICICI bank. The ICICI Bank FD interest rate hike comes as a direct result of the RBI increasing its repo rates. As per the new ICICI Bank FD interest rates, tenures of up to 90 days will undergo a hike of 25 basis points; for tenures of 271 days to less than a year, there is a 20 bps FD rate hike; for other tenures of up to two years, there is a 15 bps increase in ICICI Bank FD rates.

Here are the revised interest rates on fixed deposits above Rs 2 crore up to Rs 5 crore at ICICI Bank from May 5, 2022:

7 days to 14 days: For General Public – 2.75 per cent; For Senior Citizens – 2.75 per cent

15 days to 29 days: For General Public – 2.75 per cent; For Senior Citizens – 2.75 per cent

30 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens –  3.00 per cent

46 days to 60 days: For General Public – 3.00 per cent; For Senior Citizens – 3.00 per cent

61 days to 90 days: For General Public – 3.25 per cent; For Senior Citizens – 3.25 per cent

91 days to 120 days: For General Public – 3.50 per cent; For Senior Citizens – 3.50 per cent

121 days to 150 days: For General Public – 3.50 per cent; For Senior Citizens – 3.50 per cent

151 days to 184 days: For General Public – 3.50 per cent; For Senior Citizens – 3.50 per cent

185 days to 210 days: For General Public – 3.75 per cent; For Senior Citizens – 3.75 per cent

211 days to 270 days: For General Public – 3.75 per cent; For Senior Citizens – 3.75 per cent

271 days to 289 days: For General Public – 4.00 per cent; For Senior Citizens – 4.00 per cent

290 days to less than 1 year: For General Public – 4.00 per cent; For Senior Citizens – 4.00 per cent

1 year to 389 days: For General Public – 4.50 per cent; For Senior Citizens – 4.50 per cent

390 days to less than 15 months: For General Public – 4.50 per cent; For Senior Citizens – 4.50 per cent

15 months to less than 18 months: For General Public – 4.60 per cent; For Senior Citizens – 4.60 per cent

18 months to 2 years: For General Public – 4.65 per cent; For Senior Citizens – 4.65 per cent

2 years 1 day to 3 years: For General Public – 4.75 per cent; For Senior Citizens – 4.75 per cent

3 years 1 day to 5 years: For General Public – 4.80 per cent; For Senior Citizens – 4.80 per cent

5 years 1 day to 10 years: For General Public – 4.80 per cent; For Senior Citizens – 4.80 per cent

It is expected that more banks will follow suit after the ICICI Bank FD interest rate hike.

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