Sunday, August 14, 2022

ICICI Bank hikes FD interest rates know how much return you will get on…

Private sector lender ICICI Bank on Monday increased interest rates on fixed deposits of less than Rs 2 crore. As per the increased new rates, interest rates on deposits with maturities of 290 days to 10 years have been hiked. The bank has increased the interest rate on deposits maturing in 290 days to less than 1 year by 10 basis points from 4.40% to 4.50%. The increased rates will be applicable from May 16.

On deposits maturing in one to two years, the interest rate has been again increased by 10 basis points to 5.10% from 5%. Apart from this, the bank has increased the interest rate on deposits maturing in 2 years 1 day to 3 years by 20 basis points to 5.40% from 5.20% earlier.

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The interest rate on deposits maturing in 3 years, 1 day to 5 years has been increased by 15 basis points from 5.45% to 5.60%, while on long term fixed deposits maturing in 5 years from 1 day to 10 years, the interest rate has been increased by 15 basis points to 5.60 % has been increased from 5.75%.

Increased rates on investment up to Rs 1.5 lakh
The interest rate on tax saving fixed deposits up to Rs 1.5 lakh has been increased by 15-basis points to 5.60% from 5.45%. Meanwhile, the interest rate on n deposits maturing in 7 days to 29 days will remain at 2.50%, while the interest rate on deposits maturing in 30 days to 90 days will also continue at 3%.

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No change in these rates
The interest rate on deposits maturing from 91 days to 184 days and maturing 185 days to 289 days, as before, remains at 3.5% and 4.40%, respectively. Whereas senior citizens will also continue to get 0.50% additional benefit on the deposit period of seven days to five years.

Rates were increased on more than 2 crore deposits even on May 13
On May 13, ICICI Bank raised interest rates on fixed deposits of more than Rs 2 crore but less than Rs 5 crore. After the change, the bank is now offering 3% interest rate on deposits maturing in 7 to 29 days from 2.75 per cent earlier.

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Earlier, the interest rate on deposits maturing in 30 days to 60 days was 3%, but now the interest rate is 3.25 percent. The interest rate on deposits maturing in 61 to 90 days was earlier 3.25 percent, but now it has been increased to 3.40 percent. The interest rate on deposits maturing in 91 to 184 days was 3.5 per cent until the bank increased it to 3.60 per cent.

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