ICICI Bank Fixed Deposit Interest Rate 2022: ICICI Bank recently revised its FD interest rates. With effect from today (September 1, 2022), the bank is offering up to 6.05% on deposits of Rs 2 crore and more but less than Rs 5 crore.
Last month, the bank also revised interest rates on some tenors for domestic term deposits below Rs 2 crore. For depositors in this category, ICICI Bank is offering up to 6.1% interest with an option of an additional 0.5% interest to senior citizens.
For senior citizens, the ICICI Bank is offering an additional 0.20% interest over and above the additional 0.5% interest on deposits of more than 5 years (Details below).
ICICI Fixed Deposit Interest Rate 2022 (For Rs 2 crore to Rs 5 crore Deposits)
Following are the ICICI Bank Fixed Deposit Interest rates (per cent per annum) w.e.f. Sept 01, 2022, on a single deposit of Rs 2 crore and above but less than Rs 5 crore.
ICICI Fixed Deposit Interest Rate 2022 (For deposits below Rs 2)
Following are the ICICI Bank Fixed Deposit Interest rates (per cent per annum) w.e.f. 19 August 2022, on a single deposit of less than Rs 2 crore:
Interest rates on Fixed Deposits are subject to TDS, according to Income tax rules. The bank allows a minimum tenure of 7 days. It doesn’t pay any interest if the deposits are prematurely withdrawn within the period of 7 days from the date of the deposit.
How to open an ICICI Bank FD account
You can open an ICICI Bank Fixed Deposit account by depositing a minimum of Rs 10,000.
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Who will benefit from revised rates?
According to the bank’s website, the revised Fixed Deposit interest rates will be applicable for new ICICI Bank Fixed Deposits and renewal of existing Term Deposits. Through 5-year tax saver FDs, one can get a maximum tax deduction of Rs 15 lakh under Section 80C.
ICICI Bank Golden Year Fixed Deposit Offer
ICICI bank is offering an additional 0.20% per annum interest on Fixed Deposits to senior citizens. This is over the additional 0.5% interest rate provided to senior citizens.
According to the bank’s website, the extra 0.20% interest will be applicable for FDs of 5 years 1 day to 10 years tenures for deposits below Rs 2 crore. And the offer is available only till 7th October 2022. The bank says the additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.
In case of premature withdrawal on or after 5 years and 1 day, the applicable penal rate under the scheme will be 1.2%. In case of premature withdrawal before 5 years and 1 day, the prevailing premature withdrawal policy is applicable.
