ICICI Bank hikes bulk FD rates now offer up to 7.15% effective from today

ICICI Bank has hiked its interest rates on bulk fixed deposits (FDs) of more than 2 Cr to less than 5 Cr. According to the bank’s official website, the new rates are effective as of today, January 25, 2023. The interest rates that ICICI Bank is now giving on bulk fixed deposit tenors of 7 days to 10 years range from 4.50% to 6.75%. ICICI Bank will now provide a maximum interest rate of 7.15% on bulk fixed deposits with a deposit duration of 15 months to two years.

ICICI Bank Bulk FD Rates

The bank currently offers a 4.50% interest rate on fixed deposits maturing in 7 to 29 days, and a 5.25% interest rate on those maturing in 30 to 45 days, according to ICICI Bank. ICICI Bank is now offering interest rates of 5.50% on deposits held for 46 to 60 days and 5.75% on deposits held for 61 to 90 days. Deposits maturing between 91 and 184 days from now on will earn interest at a rate of 6.25%, while deposits maturing between 185 and 270 days from now on will earn interest at a rate of 6.50%.

On bulk deposits maturing in 271 days to less than 1 year, ICICI Bank customers will get an interest rate of 6.65% and on those maturing in 1 year to 15 months, bulk fixed deposit customers will now get an interest rate of 7.10%. Deposits maturing in the next 15 months to 2 years will now earn 7.15% interest, and those maturing in the next 2 years, 1 day to 3 years, will now earn 7.00% interest. ICICI Bank is now giving an interest rate of 6.75% on deposits with tenors ranging from 3 years and 1 day to 10 years.

Both new ICICI Bank fixed deposits and existing fixed deposit renewals will be subject to these adjusted fixed deposit interest rates.

ICICI Bank Bulk FD Rates

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ICICI Bank Bulk FD Rates (icicibank.com)

ICICI Bank FD Rates For Deposits Below 2 Cr

On fixed deposits of less than 2 Cr, ICICI Bank last revised its interest rates on 16th December 2022. The bank is now offering interest rates on deposits with maturities ranging from 7 days to 10 years that range from 3.00% to 6.90% for the general public and from 3.50% to 7.50% for senior citizens. A maximum interest rate of 7% for non-senior citizens and 7.50% for elderly individuals will now apply to deposits maturing in 15 months to 5 years.

For elderly adults with a deposit tenure of 7 days to 5 years, ICICI Bank offers an additional rate of 50 bps, or 0.50%, higher than the standard card rates. However, elderly individuals will receive an additional 0.10% interest rate on an FD over and above the prevailing additional rate of 0.50% per year under the ICICI Bank Golden Years FD, which is valid until 7 April 2023, on a maturity bucket of 5 years, 1 day to 10 years.

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