ICICI Bank, a leading private sector lender, has revised its interest rates on the fixed deposits between Rs 2 crore and Rs 5 crore. The new rates have become effective from Friday (August 26). The latest interest rates will be in the range of 3.50-5.90 per cent, depending upon the maturities between 7 days and 10 years.
The bank has increased the interest rates as the Monetary Policy Committee is following the tight monetary policy regime. The RBI’s rate-setting panel hiked the key repo rate by 50 basis points to 5.4 per cent in early August. It was the third straight hike after a 50 per cent raise in June and a 40 per cent hike in May.
The country’s inflation in April had stood at 7.79 per cent, which eased to 7.04 per cent in May and fell further to 7.01 per cent in June. The consumer inflation further declined to 6.71 per cent in July. However, it’s still above the RBI’s target of 2-6 per cent.
Here are the revised interest rates on fixed deposits between Rs 2 crore to Rs 5 crore at ICICI Bank effective from August 26, 2022:
7 days to 14 days: For General Public – 3.50 per cent; For Senior Citizens – 3.50 per cent
15 days to 29 days: For General Public – 3.50 per cent; For Senior Citizens – 3.50 per cent
30 days to 45 days: For General Public – 3.60 per cent; For Senior Citizens – 3.60 per cent
46 days to 60 days: For General Public – 4.00 per cent; For Senior Citizens – 4.00 per cent
61 days to 90 days: For General Public – 4.75 per cent; For Senior Citizens – 4.75 per cent
91 days to 120 days: For General Public – 5.25 per cent; For Senior Citizens – 5.25 per cent
121 days to 150 days: For General Public – 5.25 per cent; For Senior Citizens – 5.25 per cent
151 days to 184 days: For General Public – 5.25 per cent; For Senior Citizens – 5.25 per cent
185 days to 210 days: For General Public – 5.40 per cent; For Senior Citizens – 5.40 per cent
211 days to 270 days: For General Public – 5.40 per cent; For Senior Citizens – 5.40 per cent
271 days to 289 days: For General Public – 5.60 per cent; For Senior Citizens – 5.60 per cent
290 days to less than 1 year: For General Public – 5.60 per cent; For Senior Citizens – 5.60 per cent
1 year to 389 days: For General Public – 6.05 per cent; For Senior Citizens – 6.05 per cent
390 days to less than 15 months: For General Public – 6.05 per cent; For Senior Citizens – 6.05 per cent
15 months to less than 18 months: For General Public – 6.05 per cent; For Senior Citizens – 6.05 per cent
18 months to 2 years: For General Public – 6.05 per cent; For Senior Citizens – 6.05 per cent
2 years 1 day to 3 years: For General Public – 6.05 per cent; For Senior Citizens – 6.05 per cent
3 years 1 day to 5 years: For General Public – 6.05 per cent; For Senior Citizens – 6.05 per cent
5 years 1 day to 10 years: For General Public – 5.90 per cent; For Senior Citizens – 5.90 per cent.
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