ICICI Bank might be providing an unique further rate of interest to senior residents on fastened deposits beneath ₹2 crore until tomorrow. The further rate of interest is on FDs above 5 years tenure.
Under its Golden Years FD Rates scheme that got here into impact on January 20, 2022, ICICI Bank says, “Resident Senior citizen customers, will get an additional interest rate of 0.25% for a limited time over and above the existing additional rate of 0.50% per annum.”
The further price might be out there on contemporary deposits opened in addition to deposits renewed throughout the scheme interval.
The FDs are relevant period is from May 20, 2020, to April 8, 2022.
The FD is relevant on 5 years 1 day as much as 10 years tenure and on deposits beneath ₹2 crore. In common, the financial institution presents a 6.35% rate of interest on the talked about tenure to senior residents which is already larger than in comparison with 5.60% provided to the overall class.
However, for the reason that launch of the Golden Years FD, the financial institution is providing a further 0.25% price on the traditional rate of interest provided to senior residents.
As per the financial institution, in case the deposit opened within the above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the relevant penal price might be 1.25%. In case the deposit opened within the scheme is prematurely withdrawn/closed earlier than 5 years and 1 day, the prevailing untimely withdrawal coverage might be relevant.
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