This Bank Revises Fixed Deposit Rates For THESE Deposits--Check Latest FD Rates Here
For Bulk Fixed Deposits with tenors ranging from seven days to ten years, ICICI Bank has increased interest rates from less than Rs 5 crore to more than Rs 2 crore.
New Delhi: ICICI Bank has increased interest rates on Bulk Fixed Deposits (FD) to cheer people up who are feeling the effects of high inflation. ICICI Bank's new Fixed Deposit Interest Rates go into effect on Wednesday, March 23, 2023.
For Bulk Fixed Deposits with tenors ranging from seven days to ten years, ICICI Bank has increased interest rates from less than Rs 5 crore to more than Rs 2 crore. According to the official website of ICICI Bank, the effective rate increase for these tenors is between 4.75% and 6.75%.
| aturity Period | Interest rates (per cent per annum) w.e.f. February 24, 2023 | Interest rates (per cent per annum) w.e.f. March 22, 2023 | ||
|---|---|---|---|---|
| Single deposit of less than ₹20.0 million | Single deposit of ₹20.0 mn & above but less than 50.0 mn | |||
| General | **Senior Citizen | General | **Senior Citizen | |
| 7 days to 14 days | 3.00% | 3.50% | 4.75% | 4.75% |
| 15 days to 29 days | 3.00% | 3.50% | 4.75% | 4.75% |
| 30 days to 45 days | 3.50% | 4.00% | 5.50% | 5.50% |
| 46 days to 60 days | 4.25% | 4.75% | 5.75% | 5.75% |
| 61 days to 90 days | 4.50% | 5.00% | 6.00% | 6.00% |
| 91 days to 120 days | 4.75% | 5.25% | 6.50% | 6.50% |
| 121 days to 150 days | 4.75% | 5.25% | 6.50% | 6.50% |
| 151 days to 184 days | 4.75% | 5.25% | 6.50% | 6.50% |
| 185 days to 210 days | 5.75% | 6.25% | 6.65% | 6.65% |
| 211 days to 270 days | 5.75% | 6.25% | 6.65% | 6.65% |
| 271 days to 289 days | 6.00% | 6.50% | 6.75% | 6.75% |
| 290 days to less than 1 year | 6.00% | 6.50% | 6.75% | 6.75% |
| 1 year to 389 days | 6.70% | 7.20% | 7.25% | 7.25% |
| 390 days to < 15 months | 6.70% | 7.20% | 7.25% | 7.25% |
| 15 months to < 18 months | 7.10% | 7.60% | 7.15% | 7.15% |
| 18 months to 2 years | 7.10% | 7.60% | 7.15% | 7.15% |
| 2 years 1 day to 3 years | 7.00% | 7.50% | 7.00% | 7.00% |
| 3 years 1 day to 5 years | 7.00% | 7.50% | 6.75% | 6.75% |
| 5 years 1 day to 10 years | 6.90% | #7.50% | 6.75% | 6.75% |
| 5 Years (80C FD) – Max to `1.50 lac | 7.00% | 7.50% | NA | NA |
ICICI Bank FD RATE Previous rates
| Maturity Period | Interest rates (per cent per annum) w.e.f. December 16, 2022 | Interest rates (per cent per annum) w.e.f. February 08, 2023 | ||
|---|---|---|---|---|
| Single deposit of less than ₹20.0 million | Single deposit of ₹20.0 mn & above but less than 50.0 mn | |||
| General | **Senior Citizen | General | **Senior Citizen | |
| 7 days to 14 days | 3.00% | 3.50% | 4.50% | 4.50% |
| 15 days to 29 days | 3.00% | 3.50% | 4.50% | 4.50% |
| 30 days to 45 days | 3.50% | 4.00% | 5.25% | 5.25% |
| 46 days to 60 days | 4.00% | 4.50% | 5.50% | 5.50% |
| 61 days to 90 days | 4.50% | 5.00% | 5.75% | 5.75% |
| 91 days to 120 days | 4.75% | 5.25% | 6.25% | 6.25% |
| 121 days to 150 days | 4.75% | 5.25% | 6.25% | 6.25% |
| 151 days to 184 days | 4.75% | 5.25% | 6.25% | 6.25% |
| 185 days to 210 days | 5.50% | 6.00% | 6.50% | 6.50% |
| 211 days to 270 days | 5.50% | 6.00% | 6.50% | 6.50% |
| 271 days to 289 days | 5.50% | 6.00% | 6.65% | 6.65% |
| 290 days to less than 1 year | 5.75% | 6.25% | 6.65% | 6.65% |
| 1 year to 389 days | 6.60% | 7.10% | 7.10% | 7.10% |
| 390 days to < 15 months | 6.60% | 7.10% | 7.10% | 7.10% |
| 15 months to < 18 months | 7.00% | 7.50% | 7.15% | 7.15% |
| 18 months to 2 years | 7.00% | 7.50% | 7.15% | 7.15% |
| 2 years 1 day to 3 years | 7.00% | 7.50% | 7.00% | 7.00% |
| 3 years 1 day to 5 years | 7.00% | 7.50% | 6.75% | 6.75% |
| 5 years 1 day to 10 years | 6.90% | #7.50% | 6.75% | 6.75% |
| 5 Years (80C FD) – Max to `1.50 lac | 7.00% | 7.50% | NA | NA |
Examine the most recent ICICI Bank Fixed Deposit Interest Rates for the year 2023. According to the laws governing income taxes, the interest rate on a fixed deposit will be subject to tax deduction at source.
In the meantime, according to ICICI Bank, no FD Interest Rate will be paid if the depositor withdraws the entire amount within seven days of depositing it—subject to the minimum tenure of seven days for Domestic and NRO Term Deposits.
Through an ICICI Bank tax saver FD, a single customer can deduct up to Rs 1,50,000 from their taxable income as a tax deduction. According to the bank, domestic deposits under Rs 2 crore will receive an additional 1% interest rate for ICICI Bank employees—including retired employees.
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