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ICICI Bank Fixed Deposit Rates: Extra interest for Senior Citizens, New rates for large FDs – Check details 

ICICI Bank Fixed Deposit Interest Rate 2022: ICICI Bank recently revised its FD interest rates.

ICICI Bank Fixed Deposit Rates: Extra interest for Senior Citizens, New rates for large FDs – Check details 
Check Latest Fixed Deposit Interest Rate of ICICI Bank. Representational image

ICICI Bank Fixed Deposit Interest Rate 2022: ICICI Bank recently revised its FD interest rates. With effect from today (September 1, 2022), the bank is offering up to 6.05% on deposits of Rs 2 crore and more but less than Rs 5 crore.

Last month, the bank also revised interest rates on some tenors for domestic term deposits below Rs 2 crore. For depositors in this category, ICICI Bank is offering up to 6.1% interest with an option of an additional 0.5% interest to senior citizens.

Check FD rates of SBI, HDFC Bank, Post Office

For senior citizens, the ICICI Bank is offering an additional 0.20% interest over and above the additional 0.5% interest on deposits of more than 5 years (Details below).

ICICI Fixed Deposit Interest Rate 2022 (For Rs 2 crore to Rs 5 crore Deposits) 

Following are the ICICI Bank Fixed Deposit Interest rates (per cent per annum) w.e.f. Sept 01, 2022, on a single deposit of Rs 2 crore and above but less than Rs 5 crore.

Maturity PeriodGeneral**Senior Citizen
7 days to 14 days3.50%3.50%
15 days to 29 days3.50%3.50%
30 days to 45 days3.60%3.60%
46 days to 60 days4.00%4.00%
61 days to 90 days4.75%4.75%
91 days to 120 days5.25%5.25%
121 days to 150 days5.25%5.25%
151 days to 184 days5.25%5.25%
185 days to 210 days5.50%5.50%
211 days to 270 days5.50%5.50%
271 days to 289 days5.70%5.70%
290 days to less than 1 year5.70%5.70%
1 year to 389 days6.05%6.05%
390 days to < 15 months6.05%6.05%
15 months to < 18 months6.05%6.05%
18 months to 2 years6.05%6.05%
2 years 1 day to 3 years6.05%6.05%
3 years 1 day to 5 years6.05%6.05%
5 years 1 day to 10 years5.90%5.90%
5 Years (80C FD) – Max to `1.50 lacNANA
Source: ICICI Bank (Interest Rates as of 01-09-2022). **Senior Citizen rates applicable only for domestic term deposits.

ICICI Fixed Deposit Interest Rate 2022 (For deposits below Rs 2) 

Following are the ICICI Bank Fixed Deposit Interest rates (per cent per annum) w.e.f. 19 August 2022, on a single deposit of less than Rs 2 crore:

Maturity PeriodGeneral**Senior Citizen
7 days to 14 days2.75%3.25%
15 days to 29 days2.75%3.25%
30 days to 45 days3.25%3.75%
46 days to 60 days3.25%3.75%
61 days to 90 days3.25%3.75%
91 days to 120 days3.75%4.25%
121 days to 150 days3.75%4.25%
151 days to 184 days3.75%4.25%
185 days to 210 days4.65%5.15%
211 days to 270 days4.65%5.15%
271 days to 289 days4.65%5.15%
290 days to less than 1 year4.65%5.15%
1 year to 389 days5.50%6.00%
390 days to < 15 months5.50%6.00%
15 months to < 18 months5.50%6.00%
18 months to 2 years5.50%6.00%
2 years 1 day to 3 years5.60%6.10%
3 years 1 day to 5 years6.10%6.60%
5 years 1 day to 10 years5.90%#6.60%
5 Years (80C FD) – Max to `1.50 lac6.10%6.60%
Source: ICICI Bank. (Interest Rates as of 01-09-2022).

Interest rates on Fixed Deposits are subject to TDS, according to Income tax rules. The bank allows a minimum tenure of 7 days. It doesn’t pay any interest if the deposits are prematurely withdrawn within the period of 7 days from the date of the deposit.

How to open an ICICI Bank FD account

You can open an ICICI Bank Fixed Deposit account by depositing a minimum of Rs 10,000.

Also Read: Latest DA/DR rate for Central Government Employees, Pensioners

Who will benefit from revised rates?

According to the bank’s website, the revised Fixed Deposit interest rates will be applicable for new ICICI Bank Fixed Deposits and renewal of existing Term Deposits. Through 5-year tax saver FDs, one can get a maximum tax deduction of Rs 15 lakh under Section 80C.

ICICI Bank Golden Year Fixed Deposit Offer

ICICI bank is offering an additional 0.20% per annum interest on Fixed Deposits to senior citizens. This is over the additional 0.5% interest rate provided to senior citizens.

According to the bank’s website, the extra 0.20% interest will be applicable for FDs of 5 years 1 day to 10 years tenures for deposits below Rs 2 crore. And the offer is available only till 7th October 2022. The bank says the additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.

Also Read: ICICI Bank Coral RuPay Credit Card launched. Check benefits

In case of premature withdrawal on or after 5 years and 1 day, the applicable penal rate under the scheme will be 1.2%. In case of premature withdrawal before 5 years and 1 day, the prevailing premature withdrawal policy is applicable.

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