ICICI Bank Fixed Deposit Rates: The country’s largest private sector bank ICICI Bank has once again increased the interest rates available on its fixed deposits. The bank has decided to increase the interest rates on FDs from 2 crores to 5 crores. In fact, after the announcement of the Reserve Bank of India to increase the repo rate, many private and public sector banks have decided to increase the interest rates on fixed deposits (FD). has done.
ICICI Bank has implemented the new interest rate on FDs of Rs 2 to 5 crore from May 13 itself. The customers of the bank will get 0.25 percent more interest on FDs from 7 days to 29 days. Now customers will get 3 percent interest rate instead of 2.75 percent interest rate. On the other hand, FD rates of 30 to 60 will get 3.25 percent interest rate instead of 3 percent. FD of 61 days to 90 days will get 3.40 percent interest rate instead of 3.25 percent.
3.6 percent interest will be available on FDs of 91 days to 184 days. Earlier it used to be 3.5 percent. There has been no change in the FD of 185 to 270 days. At the same time, the bank has not made any changes on the FD from 271 days to 1 year. It is still only 4 percent. Apart from this, ICICI Bank has decided to give 4.5 percent interest rate on FDs from 1 year to 15 months. The bank is offering 4.65 percent interest rate on 15 to 18 months FD, 4.7 percent interest rate on 18 months to 2 years FD.
Many banks decided to increase FD rates
After increasing the repo rate of the central bank i.e. Reserve Bank of India, many banks like Bank of Maharashtra, Punjab National Bank, SBI etc. have increased their FD rates. Along with this, banks have also increased the interest rates of their loans.