There is good news for those investing their hard-earned money in FD. Actually, ICICI Bank has increased the interest rates on FDs of more than Rs 2 crore and less than Rs 5 crore.
New Delhi. There is good news for the customers of private sector ICICI Bank. The bank has announced an increase in interest rates on fixed deposits (FD). In a statement issued by ICICI Bank, it has been said that it has increased the interest rates on FDs of more than Rs 2 crore and less than Rs 5 crore.
This decision will benefit those who have deposited large amounts in ICICI Bank. The bank has stated on its website that the revised interest rates have come into effect from February 8, 2024.
7.40 percent interest on bulk deposits for a period of one year
ICICI Bank is currently offering 7.40 per cent interest rate on bulk deposits for a tenure of one year to general customers and senior citizens. Also, interest rates of 7.30 percent are being offered on FDs with tenure ranging from 390 days to 15 months. 7.05 percent interest is offered for 15 months to 2 years. General customers and senior citizens are being offered 7 percent interest on deposits maturing between 2 years to 10 years.
Bulk Deposit Rates
For general customers, 4.75 percent interest is being offered for a period of 7 days to 29 days. The bank has increased the interest rate to 5.75 percent for a period of 46 days to 60 days. The interest rate on deposits with a tenure of 61 days to 90 days is 6 percent. The interest rate on deposits of 91 days to 184 days is 6.50 percent, on deposits of 185 days to 270 days, the interest rate is 6.75 percent and on deposits with maturity period of 271 days to one year, the interest rate is 6.85 percent.