New Delhi: Banks are on fixed deposit rate hike spree. The latest one joining the bandwagon is the private sector lender, ICICI Bank. The lender has revised interest rates on term deposits of various tenures. As per the ICICI Bank website, general citizens can get FD rates as high as 7.20 per cent for 15 months to less than 18 months tenure.
ICICI Bank FD rates for Senior Citizens
ICICI Bank gives 0.50 per cent additional interest over and above applicable rates on FDs on all tenures to the senior citizens baring on tenure of 15 months to less than 18 months. On this particular time deposit, the private lender currently gives additional of 0.55 per cent to the elderly. Significantly, ICICI Bank FD rate for senior citizens on this tenure will be 7.75 per cent.
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ICICI Bank FD interest rate for 1 year
On one-year deposits, ICICI Bank account holders will get 6.70 per cent interest rate, while senior citizens will get 7.20 per cent rate of interest. For this, they will have to open the deposit for a tenure of 1 year to 389 days. While, on less than one year tenure, the lender gives 6 per cent rate of interest.
ICICI Bank FD interest rates on 5 year tax saving FD
On 5 years tax-saving FDs, account holders can get 7.00 per cent rate of interest. Senior citizens will get 7.50 per cent interest. Fixed deposits of five years tenure provide income tax benefits of up to Rs 1.50 lakh under Section 80c. The account holder’s taxable income will be reduced by an amount equivalent to that invested in 5 year FDs.
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ICICI Bank FD interest rate for 10 years
This is the lengthiest tenure for which account holders can deposit money with the private lender. On 10 year FDs, the second largest private sector bank in the country is giving interest rate of 6.90 per cent. While, elderly will get 7.40 per cent rate on this time deposit.
The private lender allows depositors to open term deposits for minimum tenure of 7-14 days. General citizens get three per cent rate of interest on this FD. While, senior citizens will get 3.50 per cent interest on the same FD.
ICICI Bank revises fixed deposit interest rates
Tenure
With Premature Withdrawal
Interest Rate General Citizen
Interest Rate Senior Citizen
7 to 14 Days
3.00%
3.50%
15 to 29 Days
3.00%
3.50%
30 to 45 Days
3.50%
4.00%
46 to 60 Days
4.25%
4.75%
61 to 90 Days
4.50%
5.00%
91 to 120 Days
4.75%
5.25%
121 to 150 Days
4.75%
5.25%
151 to 184 Days
4.75%
5.25%
185 to 210 Days
5.75%
6.25%
211 to 240 Days
5.75%
6.25%
241 to 270 Days
5.75%
6.25%
271 Days to 300 Days
6.00%
6.50%
301 Days to 330 Days
6.00%
6.50%
331 Days to < 1 Year
6.00%
6.50%
1 Year to 389 Days
6.70%
7.20%
390 Days to < 15 Months
6.70%
7.20%
15 Months to < 18 Months
7.20%
7.75%
18 Months to 2 Years
7.20%
7.70%
2 Years 1 Day to 3 Years
7.00%
7.50%
3 Years 1 Day to 5 Years
7.00%
7.50%
5 Years 1 Day to 7 Years
6.90%
7.40%
7 Years 1 Day to 10 Years
6.90%
7.40%
5Y (Tax Saver FD)
7.00%
7.50%
Source: ICICI Bank
ICICI Bank FD rates for Senior Citizens have touched 7.75 per cent for select Fixed Deposit tenure. ICICI Bank FD interest rates for 5 year term deposit has been hiked to 7.50 per cent. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
