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ICICI bank move to augment  their rate of interest on Fixed deposits

The ICICI Bank has increased its interest rates on fixed deposits from January 20 (2022) on Thursday, unlike other banks.


This may work as two-edged for customers and employees and even lead to a great motivation for new customers who are willing to open their accounts in ICICI Bank.


According to the bank’s website, ICICI Bank is now offering a 2.50 percent interest rate on deposits with a maturity of 7 to 29 days


3 percent interest rate on FDs with a maturity of 30 to 90 days


3.5 percent for FDs with a maturity of 91 days to 184 days


4.40 percent for FDs with 185 days to less than one year tenor


On one-year to 389 days FDs, the bank is offering 5 percent.


ICICI Bank is offering a 5.60 percent interest rate on FDs maturing in 5 years 1 day up to 10 years. It is also offering 5.45 percent for a five-year FD, on which tax benefit is available under Section 80C of the Income-Tax Act, 1961.


ICICI Bank offers 0.50 percent higher interest rates to its senior citizen customers compared to non-seniors. It is now offering a 3 percent interest rate on deposits with a maturity of 7 to 29 days and a 3.50 percent interest rate on FDs with a maturity of 30 to 90 days. It has a 4 percent for FDs with a maturity of 91 days to 184 days, and 4.90 percent for FDs with 185 days to less than one year tenure. On one-year FDs, the bank is offering 5.50 percent.


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