Fixed Deposit: Country’s second largest bank gave opportunity to earn more, increased interest rates
These rates are applicable from November 23 on FDs between ₹ 2 crore to ₹ 5 crore.
There is no difference in interest rates for general and senior citizens.
The minimum period is 7 days, while the maximum period for which money can be deposited is 10 years.
New Delhi. Private sector bank, ICICI Bank has increased interest rates on fixed deposits for general and senior citizens. Now both can get interest up to 6.80% on the deposited amount, that means additional interest rates are not offered for senior citizens. These rates are applicable from November 23 on FDs between ₹ 2 crore to ₹ 5 crore.
Please tell that ICICI Bank has announced to give rates ranging from 3.75 percent to 6.80 percent. The minimum period is 7 days, while the maximum period for which money can be deposited is 10 years.
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How much interest on how many tenures
According to the bank’s website, the bank is providing interest at the rate of 6.75 per cent for periods ranging from 1 year to less than 15 months. For a period ranging from 15 months to 3 years, 6.80 percent interest will be given to the bank for a tenure of 3 years, 1 day to 10 years and 6.50 percent. The bank offers a rate of 6.25% for a tenure of 271 days to less than 1 year, while the rate is fixed at 6% for a tenure of 185 days to 270 days.
An interest rate of 5.75% is offered for tenures ranging from 91 days to 184 days. An interest rate of 5.25% is offered for tenure of 61 days to 90 days, while the rate is 5% for 46 days to 60 days and 4.75% for tenure of 30 days to 45 days. For short tenures ranging from 7 days to 29 days, ICICI Bank is offering a rate of 3.75 per cent.
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on an amount exceeding 5 crores
On FDs of Rs 5 crore and above, the bank is offering interest rates ranging from 3.75% to a maximum of 7.15% with effect from November 23. Premature withdrawal facility is available in these FDs.
The bank has kept FD rates unchanged for deposits below Rs 2 crore. It offers FD rates ranging from 3% to 6.60% to the general public, while rates for senior citizens range from 3.50% to 7.10%. The 5 year tax saving FD scheme is also applicable for deposits below Rs 2 crore. On this a customer can avail a maximum tax deduction of ₹1.5.
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Tags: Bank FD, FD Rates, Fixed deposits, ICICI bank, interest rate, Money Making Tips
FIRST PUBLISHED : November 23, 2022, 19:03 IST