ICICI Bank has revised its fixed deposit (FD) interest rates with effect from February 17, 2024, according to the bank’s website. The revised FD rates are applicable for FDs of up to Rs 2 crore. The highest interest rate for senior citizens is 7.75%. For individuals, the highest interest rate on FDs can go up to 7.2%.
ICICI Bank revises FD interest rates from February 17, 2024
According to the ICICI Bank website on February 17, 2024, “The minimum amount to open a domestic FD is Rs 10,000.”
ICICI Bank offers a 3% interest rate for FDs maturing between 7 days and 29 days. FDs maturing between 30 days and 45 days will fetch you an interest rate of 3.5%. For FDs maturing between 46 days and 60 days, the bank offers an interest rate of 4.25%.
FDs maturing between 61 days and 90 days will get an interest rate of 4.5%. FDs maturing between 91 days and 184 days will fetch you an interest rate of 4.75%. FDs maturing between 185 days and 270 days will get you an interest rate of 5.75%. FDs maturing between 271 days and less than one year will get an interest rate of 6%. FDs maturing between one year and less than fifteen months will get an interest rate of 6.7%. FDs maturing between 15 months and two years will get an interest rate of 7.2%. FDs maturing between two years one day and five years will fetch you an interest rate of 7%. FDs maturing between five years one day and ten years will get an interest rate of 6.9%.
The interest rate on ICICI Bank tax-savings FD which has a tenure of 5 years will be 7%.Table showing ICICI Bank FD interest rates, effective from February 17, 2024:
Maturity period | Interest rate |
7 days to 14 days | 3% |
15 days to 29 days | 3% |
30 days to 45 days | 3.50% |
46 days to 60 days | 4.25% |
61 days to 90 days | 4.50% |
91 days to 120 days | 4.75% |
121 days to 150 days | 4.75% |
151 days to 184 days | 4.75% |
185 days to 210 days | 5.75% |
211 days to 270 days | 5.75% |
271 days to 289 days | 6% |
290 days to less than 1 year | 6% |
1 year to 389 days | 6.70% |
390 days to less than 15 months | 6.70% |
15 months to less than 18 months | 7.20% |
18 months to 2 years | 7.20% |
2 years 1 day to 3 years | 7% |
3 years 1 day to 5 years | 7% |
5 years 1 day to 10 years | 6.90% |
5 years | 7% |
Source: ICICI Bank website as of February 17, 2024
ICICI Bank revises senior citizen FD rates
Senior citizens get an additional 50 basis points (0.5%) interest rate on all FD tenures in ICICI Bank. The bank further offers an extra interest rate of 5 bps or 10 bps over and above the 50-bps extra interest rate offered to senior citizens on select FD tenures.
According to the ICICI Bank website as of February 17, 2024, “An additional interest rate of 5 basis points (bps) over & above the existing 50 bps, will be paid to Senior Citizens on FDs (less than Rs 2 crore) for tenures of 15 months to less than 18 months and 18 months to less than 2 years. An additional interest rate of 10 bps over & above the existing 50 bps will be paid to Senior Citizens on FDs (less than Rs 2 crore) for tenures of 5 years and above.”
ICICI Bank offers a 3.5% interest rate for FDs maturing between 7 days and 29 days. FDs maturing between 30 days and 45 days will fetch you an interest rate of 4%. For FDs maturing between 46 days and 60 days, the bank offers an interest rate of 4.75%.
FDs maturing between 61 days and 90 days will get an interest rate of 5%. FDs maturing between 91 days and 184 days will fetch you an interest rate of 5.25%. FDs maturing between 185 days and 270 days will get you an interest rate of 6.25%. FDs maturing between 271 days and less than one year will get an interest rate of 6.5%.
FDs maturing between one year and less than fifteen months will get an interest rate of 7.2%. FDs maturing between 15 months and two years will get an interest rate of 7.75%. FDs maturing between two years one day and five years will fetch you an interest rate of 7%. FDs maturing between five years one day and ten years will get an interest rate of 7.5%.
Interest rate tax-savings FD which has a tenure of five years is 7.5%.