ICICI Bank Revises Interest Rates For Fixed Deposits Under 2 Crore

The interest rates on fixed deposits under Rs. 2 crore have been raised by private lender ICICI Bank. The bank announced the new rates on its official website after raising the rates on term deposits with maturities ranging from seven days to ten years by 50 basis points. For the mentioned time, ICICI Bank is providing fixed deposit interest rates to the general public ranging from 3 to 6.25 percent.

For fixed deposits maturing in seven days to 29 days and in 30 days to 45 days, the bank will continue to offer interest rates of 3% and 3.50, respectively.

The interest rates have been raised by the private lender from 3.50 percent to 3.75 percent on deposits that mature in 46 days to 60 days, and from 3.75 percent to four percent on fixed deposits that mature in 61 days to 90 days.

The interest rate for deposits that mature between 91 and 184 days from now will be 4.50 percent as opposed to the previous rate of 4.25 percent. Depots that mature between 185 and 289 days from now will have an interest rate of 5.25 percent instead of the prior 5%.

The bank raised the interest rate on deposits maturing in 290 days or less than a year by 50 basis points, from 5% to 5.50%, and on deposits maturing in one year or more than a year by 30 basis points, from 5.80% to 6.10%. The bank raised the interest rate on deposits maturing in 18 months to 2 years from 5.80 percent to 6.15 percent.