Private moneylender ICICI Bank has increased its interest rates on the fixed deposits of less than ₹2 crore. According to the official website, the new rates are now effective from today, i.e September 26, 2022.
The ICICI Bank will continue to offer an interest rate of 2.75 per cent interest rate on fixed deposits maturing in seven days to 29 days. On deposits which mature in 30 days to 90 days, the interest rate will continue to be 3.25 per cent, Hindustan Times business publication Livemint reported. On the other hand, the fixed deposits which mature in 91 days to 184 days will be offering a revised interest rate of four per cent as against the earlier rate of 3.75 per cent.
Read More: SBI, PNB Bank, ICICI Bank: Latest FD rates for senior citizens compared
The private moneylender will continue to offer a 4.65 per cent interest rate on deposits maturing in 185 days to less than a year, while a 5.50 per cent interest rate will be for deposits maturing in one year to two years. Further, the ficed deposits maturing in 2 years and 1 day to three years will have an interest rate of 5.60 per cent.
According to the ICICI website, on the fixed deposits of amount of ₹2 crore to ₹5 crore, the bank has revised the interest rates. On deposits maturing in seven to 29 days, the interest rate stands at 3.75 per cent while those maturing in 30 days to 45 days will have an interest rate of 3.90 per cent. The fixed deposits maturing in 46 days to 60 days will have an interest rate of 4.25 per cent while those maturing in 61 days to 90 days will have an interest rate of 5 per cent. The fixed deposits maturing in 91 days to 120 days and 121 days to 150 days will have the same interest rate of 5.50 per cent.
Here are the fixed deposit interest rates of other prominent banks.
State Bank of India: The moneylender revised its fixed deposit rates for term deposits less than ₹2 crore for general public and the senior citizens on August 13. According to the bank’s official website, the fixed deposits maturing in seven days to 45 days continue to offer interest rate of 2.90 per cent for general public and 3.40 per cent for senior citizen customers. The fixed deposits maturing in 46 days to 179 days continue to offer 3.90 per cent and 4.40 per cent for general customers and senior citizens respectively. However, the interest rates for fixed deposits maturing in 180 days to 210 days have been increased to 4.55 per cent for general customers and 5.05 per cent for senior citizens.
HDFC Bank: The private moneylender also revised its interest rates for term deposits less than ₹2 crore on August 18. According to the official website, the interest rate for deposits maturing in seven to 14 days has been fixed at 2.75 per cent while it is 3.25 per cent for senior citizens. The deposits maturing in 15 to 29 days have an interest rate of 2.75 per cent and 3.25 per cent for senior citizens. For deposits maturing in 30 to 45 days, the interest rate has been set at 3.25 per cent and 3.75 per cent for senior citizens.
