ICICI Bank revises interest rates on time deposits: check the latest rates here
Interest rates on bulk term deposits above ₹2 crore at ICICI Bank was revised on various mandates. The highest FD rate is 4.6% given on deposits from above ₹2 crore less than ₹5 crore on terms between 3 years and 10 years.
An interest rate of 4.50% applies to periods of occupation of more than 2 years to less than 3 years. While a rate of 4.2% is granted for an occupation period of 15 months to less than 18 months, while a rate of 4.3% is implicit for an occupation period of more than 18 months less than 2 years old.
A rate of 4.15% is granted on DFs carried out for mandates ranging from 1 year to 15 months. Below 1 year, interest rates on FD vary from 2.5% to 3.7%.
The rates mentioned above are similar in the general and senior categories. The latest rates came into effect on March 10, 2022.
Apart from this, ICICI Bank has also revised interest rates on FD above the value of ₹5 crore. These tariffs apply to domestic, NRO and NRE customers. However, the lower deposit rates of ₹2 crores remain unchanged.
Notably, ICICI Bank revised rates while rival SBI raised interest rates on bulk time deposits above ₹2 crore per 20-40 basis points.
Never miss a story! Stay connected and informed with Mint. Download our app now!!