Private sector lender, ICICI Bank has raised its mounted deposits rates of interest by 10 foundation factors on tenures above 1 yr to 10 years. The FD charges are hiked on deposits above ₹2 crore however lower than ₹5 crore.
With impact from April 14, ICICI Bank presents a 4.25% rate of interest on 1 yr to 389 days and 390 days to lower than 15 months tenure in comparison with the earlier 4.15%.
Further, the financial institution presents a 4.30% fee on 15 months to lower than 18 months tenure from the earlier 4.20%, whereas 4.40% is relevant on 18 months to 2 years tenure from the earlier 4.30%. Meanwhile, a 4.6% fee is obtainable on 2 years 1 day to three years tenure in comparison with the earlier 4.5%.
For 3 years to 10 years tenure, the financial institution is providing a 4.7% rate of interest on FDs from the earlier 4.60%.
These revised rates of interest shall be relevant for brand spanking new deposits and renewal of current time period deposits.
However, not all charges have been hiked because the financial institution stored rates of interest on FDs from ₹2 crore to ₹5 crore unchanged on tenures under 1 yr.
The financial institution continues to supply a 2.5% rate of interest every on 7 days to 14 days and 15 days to 29 days tenure, whereas 2.75% every is given on 30 days to 45 days and 46 days to 60 days. A 3% fee applies on 61 days to 90 days tenure.
Also, a 3.35% rate of interest every is relevant on tenures from 91 days to 184 days. Further, 3.60% is given from 185 days to 270 days. While a 3.70% rate of interest every is obtainable from 271 days to lower than 1-year tenure.
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