ICICI Bank hikes interest rates on fixed deposits under Rs 2 crore; details here

ICICI Bank raised the interest rates on fixed deposits for the second time in October. This time, the private sector lender has raised the interest rates on certain fixed deposit (FD) tenures by as much as 50 basis points. Fixed deposits under Rs 2 crore will be eligible for a higher interest rate. On the bank’s website, it states that the new FD interest rates came into effect from 29 October. Previously on 18 October, ICICI Bank increased the interest rates on a few different FD tenures by up to 25 basis points. Here are ICICI Bank’s increased interest rates for FDs: For fixed deposits that mature in 7 days to 29 days, the bank will continue to give 3 per cent interest, and for deposits that mature in 30 days to 45 days, it will offer a 3.50 per cent interest rate. In order to compete with other banks, ICICI Bank has raised interest rates on deposits maturing in 46 to 60 days by 25 basis points, from 3.50 per cent to 3.75 per cent, and on fixed deposits maturing in 61 to 90 days by the same amount, from 3.75 per cent to 4.00 per cent. The private bank has raised the interest rate on deposits maturing between 91 and 184 days from 4.25 per cent to 4.5 per cent. It has also increased the interest rate on FDs maturing in 185 to 289 days from 5 per cent to 5.25 per cent. The interest rate on fixed deposits that mature in 290 days to less than a year has increased by 50 basis points, from 5 per cent to 5.5 per cent. The interest rates on ICICI Bank fixed deposits with maturities ranging from one year to 18 months have climbed from 5.8 per cent to 6.10 per cent. The interest rate on FDs with tenure between 18 months and two years has been boosted from 5.8 per cent to 6.10 per cent. The interest rate for deposits maturing in 2 years and 1 day to 3 years is now 6.20 per cent. Previously, the interest rate for this period was 6 per cent. The interest rate for FDs maturing between 5 years and 1 day and 10 years has been hiked by ICICI Bank from 6.10 per cent to 6.25 per cent. For 5-year tax-saving FDs, the lender is now offering 6.35 per per cent interest. Prior to this, the rate on tax-saving FDs was 6.2 per cent. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.