ICICI Bank Increases Interest Rates on FD; Know How Much Return Will You Get Now

ICICI FD interest rates: As the Reserve Bank of India (RBI) has raised its key repo rate by 50 basis points last week to control inflation in the country, banks are following the suit by increasing their interest rates on deposits and loans. ICICI Bank has also joined the list of banks, including Punjab National Bank and State Bank of India, that have pushed up their interest rates. ICICI Bank has increased the rates on its fixed deposit (FD) offerings. Here’re the latest FD interest rates of ICICI Bank applicable to deposits below Rs 2 crore, effective Thursday (June 16):
ICICI Bank’s FD Interest Rate (On Deposits Below Rs 2 Crore):

7 days to 14 days: For General Public – 2.75 per cent; For Senior Citizens – 3.25 per cent

15 days to 29 days: For General Public – 2.75 per cent; For Senior Citizens – 3.25 per cent

30 days to 45 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent

46 days to 60 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent

61 days to 90 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent

91 days to 120 days: For General Public – 3.75 per cent; For Senior Citizens – 4.25 per cent

121 days to 150 days: For General Public – 3.75 per cent; For Senior Citizens – 4.25 per cent

151 days to 184 days: For General Public – 3.75 per cent; For Senior Citizens – 4.25 per cent

185 days to 210 days: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent

211 days to 270 days: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent

271 days to 289 days: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent

290 days to less than 1 year: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent

1 year to 389 days: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent

390 days to less than 15 months: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent

15 months to less than 18 months: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent

18 months to 2 years: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent

2 years 1 day to 3 years: For General Public – 5.50 per cent; For Senior Citizens – 5.80 per cent

3 years 1 day to 5 years: For General Public – 5.70 per cent; For Senior Citizens – 6.20 per cent

5 years 1 day to 10 years: For General Public – 5.75 per cent; For Senior Citizens – 6.50 per cent.

Several banks have been increasing their fixed deposit interest rates following the RBI’s announcement on June 8. Recently, a host of other banks have raised their interest rates on fixed deposits across multiple tenor baskets for retail customers.

The RBI’s Monetary Policy Committee last week unanimously decided to raise the repo rate by 50 basis points to 4.90 per cent with the focus on withdrawal of accommodation. It has prompted the lenders to hike interest rates on loans.

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