If you are planning to open a FD account then there is good news for you. ICICI Bank, the second largest private sector bank in the country, has updated its fixed deposit (FD) interest rates. These new rates will kick in on February 5, 2025, and they apply to FDs of up to 3 crore rupees. Senior citizens can enjoy an interest rate of 7.80 percent.
Here’s a breakdown of the interest rates at ICICI Bank:
For the general public, the base rate is 3%, while senior citizens get 3.50%.
For FDs lasting 30 to 45 days, the rate is 3.50% for everyone, and senior citizens get 4%.
If you’re looking at 46 to 60 days, the general public earns 4.25%, while senior citizens earn 4.75%.
For 61 to 90 days, the rates are 4.50% for the general public and 5% for senior citizens.
For terms between 91 days and 184 days, the rate is 4.75% for the general public and 5.25% for senior citizens.
For FDs from 185 days to 270 days, the rate is 5.75% for the general public and 6.25% for senior citizens.
From 271 days to 1 year, the rates are 6% for the general public and 6.50% for senior citizens.
For terms of 1 year to 15 months, the rate is 6.70% for everyone, while senior citizens get 7.20%.
For 15 to 18 months, the general public earns 7.25%, and senior citizens earn 7.80%.
For 18 months to 2 years, the rates are 7.25% for the general public and 7.75% for senior citizens.
Finally, for terms between 2 to 5 years, the rate is 7% for the general public and 7.50% for senior citizens.
The 5-year tax-saving FD offers a rate of 7% for the general public and 7.50% for senior citizens.