ICICI Bank has increased the interest rates on fixed deposits i.e. FDs of less than Rs 2 crore.
The interest rate on FDs with tenor from one year to two years has gone up to 5.35 percent. Till June 21, interest on fixed deposits of this period was available at the rate of 5.30 percent. The interest rates on FDs for the rest of the tenure have been kept constant as before.
Private Bank ICICI Bank (ICICI Bank) fixed deposit rates (FD Rates) is then extended. This is the second increase in the last six days. Ever since the Reserve Bank has increased the repo rate, the rates of term deposits are seeing an increase. Almost all banks have increased the interest rates of FD and RD. This cycle continues continuously. However, the interest rates of the loan have increased and the EMI has become expensive already. But people are getting better returns on FD and RD. ICICI Bank on Wednesday increased the interest rates of FDs below Rs 2 crore. The bank has announced to increase interest rates by up to 5 basis points on FDs of select tenors. The new FD rates have come into effect from June 22, 2022.
According to ICICI Bank, now the FD rate has reached from 2.75 percent to 5.75. The bank has increased the rate of FDs from 185 days to less than one year and from one year to two years. On FDs ranging from 185 days to less than 1 year, the new interest rate will be 4.65 percent, which used to be 4.60 percent earlier. Similarly, the interest rate of FDs with tenor from one year to two years has gone up to 5.35 percent. Till June 21, interest on fixed deposits of this period was available at the rate of 5.30 percent. The interest rates on FDs for the rest of the tenure have been kept constant as before.
What happened in the FD rate
ICICI Bank offers 4 types of schemes for tenures ranging from 185 days to less than one year. This includes FDs ranging from 185 to 210 days, 211 days to 270 days, 271 days to 289 days and 290 days to one year. ICICI Bank has increased the interest rates on all these FDs by up to 5 basis points. Now the new rate has become 4.65 percent.
Similarly, ICICI Bank offers four different FD schemes with tenures ranging from one year to two years. FDs ranging from 1 year to 389 days, 390 days to 15 months, 15 months to less than 18 months and FDs of 18 months to 2 years. Now 5.35 percent interest will be available on all these fixed deposits. Earlier its rate was 5.30 percent.
How much return are senior citizens getting
There is no change in the FDs with the rest tenure. 5.50 interest is being given to common citizens and 6% to senior citizens on FDs of two years one day to three years. Ordinary depositors are getting 5.70 percent interest and senior citizens are getting 6.20 percent interest on FDs of three years one day to five years. 5.75 interest is being given to the general public and 6.50 percent to senior citizens on FDs of five years one day to 10 years. On a 5-year FD or tax saver FD, 5.7 percent interest is being given to general account holders and 6.2% to senior citizens.
Source: www.tv9hindi.com
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