Interest rates on fixed deposits under 2 crore rupees have been raised by ICICI Bank, a private sector institution. Interest rates for deposits maturing in 290 days to 10 years have been raised as a result of the adjustment, which was announced today, May 16, 2022.
The interest rate on deposits maturing in 7 to 29 days will remain at 2.50 percent, while the rate on deposits maturing in 30 to 90 days will remain at 3%. The interest rate on deposits maturing between 91 and 184 days will remain at 3.5 percent, while the rate on deposits maturing between 185 and 289 days will remain at 4.40 percent.
The bank previously gave a 4.40 percent interest rate on deposits maturing in 290 days to less than one year, but now the rate will be 4.50 percent , a 10 basis point increase. On deposits maturing in one to two years, the interest rate used to be 5%, but now it will be 5.10 percent, a 10 basis point rise.
The interest rate on deposits maturing in two years and one day to three years used to be 5.20 percent, but it is now 5.40 percent, a 20 basis point rise.
The interest rate for three-year, one-day to five-year deposits has been raised by 15 basis points, from 5.45 percent to 5.60 percent. The interest rate on long-term fixed deposits at ICICI Bank has been raised from 5.60 percent to 10.60 percent. to 5.75 percent, a 15-basis-point hike, while tax-saving fixed deposits of up to 1.5 lakh would now return 5.60 percent, up from 5.45 percent previously.
Senior citizens will continue to get a 0.50 percent bonus on deposits with terms ranging from seven days to five years.
The interest rate will be 6.35 percent on a deposit duration of 5 years 1 day to 10 years, which is nothing more than a unique fixed deposit scheme known as ICICI Bank Golden Years FD, which is an additional 0.10 percent. for a limited time, up to October 7, 2022, over and above the present additional rate of 0.50 percent every year ICICI Bank, a private sector lender, has increased its fixed deposit rates by 5 to 10 basis points, effective Thursday. Interest rates on bulk of more than 2 crore to 5 crore and on terms longer than one year have been hiked.