From June 16, ICICI bank the private sector lender has modified fixed deposit rates. ICICI Bank has cut the interest rate on saving account deposits of less than Rs 50 lakh to 3 percent earlier on June 4. A fall of by 25 bps as against 3.25 earlier. for deposits of ₹50 lakh and above, the account holders will earn interest of 3.50 percent, down from 3.75 percent.
This is the second instance of a deposit rate cut by the bank this month, because it deals with the challenge of managing a huge pool of surplus funds, within the absence of robust credit demand. There is a constraint on deposit rates as right now because of lockdown there is sufficient liquidity and comparatively less demand for loans. The bank is offering 5.15 percent on deposit between 1 year to 389 days. With maturity between 18 months days and 2 years, 5.35 percent shot up to 5.50 percent on deposits over 3 years customers are getting 5.35 percent on fixed deposits.
ICICI Bank latest FD rates on deposits below ₹2 crore for senior citizens
7 days to 14 days – 3.25%
15 days to 29 days – 3.50%
30 days to 45 days – 3.75%
46 days to 60 days – 4%
61 days to 90 days – 4%
91 days to 120 days – 4.6%
121 days to 184 days – 4.6%
185 days to 210 days – 5%
211 days to 270 days – 5%
271 days to 289 days – 5%
290 days to less than 1 year – 5.25%
1 year to 389 days – 5.65%
390 days to < 18 months – 5.65%
18 months days to 2 years – 5.85%
2 years 1 day to 3 years – 5.85%
3 years 1 day to 5 years – 6%
5 years 1 day to 10 years – 6.3% (ICICI Bank Golden Years FD)
5 Years (80C FD) – Max to ₹1.50 lakh – 5.50%
ICICI Bank latest FD rates on deposits below ₹2 crore for general public
7 days to 14 days – 2.75%
15 days to 29 days – 3.00%
30 days to 45 days – 3.25%
46 days to 60 days – 3.50%
61 days to 90 days – 3.50%
91 days to 120 days – 4.10%
121 days to 184 days – 4.10%
185 days to 210 days – 4.50%
211 days to 270 days – 4.50%
271 days to 289 days – 4.50%
290 days to less than 1 year – 4.75%
1 year to 389 days – 5.15%
390 days to < 18 months – 5.15%
18 months days to 2 years – 5.35%
2 years 1 day to 3 years – 5.35%
3 years 1 day to 5 years – 5.50%
5 years 1 day to 10 years – 5.50%
5 Years (80C FD) – Max to ₹1.50 lakh – 5.50%
