FD is one of the most popular investment options.
At this time FD interest is increasing again.
Also one of the safer options.
New Delhi. ICICI Bank has revised interest rates on bulk fixed deposits (FDs) above ₹2 crore. After the change, the bank is now offering interest rates ranging from 4.75% to 6.75% on FDs from 7 days to 10 years. Deposits maturing between one year and 15 months now offer a maximum return of 7.25%. According to the bank’s official website, the new bulk FD rates will be effective from today, May 20, 2023.
Even today FD is one of the most popular investment options. At this time FD interest is increasing again. Due to this, the repo rate of the Reserve Bank continues to increase. Also, investing in FDs right from the start is one of the safest investment options.
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ICICI Bank FD Rate
For deposits maturing between 7 days to 29 days, the bank is offering an interest rate of 4.75% and for deposits maturing between 30 days to 45 days, ICICI Bank is offering an interest rate of 5.50%. ICICI Bank is offering an interest rate of 5.75% on deposits of 46 days to 60 days and 6.00% on deposits of 61 days to 90 days.
Deposits maturing between 91 days to 184 days will now fetch an interest rate of 6.50%. And those maturing in 185 days to 270 days will get interest rate of 6.65%. For bulk deposits between 271 days and less than 1 year, the bank is offering an interest rate of 6.75% and for maturities between 1 year and 15 months, ICICI Bank is now offering an interest rate of 7.25%. ICICI Bank is now offering an interest rate of 7% on deposits maturing between 15 months to 2 years and 6.75% on deposits maturing 2 years 1 day to 10 years.
The bank’s consolidated net income in Q4 FY23 was Rs 53,922.75 crore, up 25.88% year-on-year from Rs 42,834.06 crore in Q4FY22. ICICI Bank posted net expenses of Rs 38,716.56 crore in the quarter ended March 2023, as against Rs 31,306.02 crore in the corresponding period of the previous fiscal.
First Published: May 21, 2023, 06:32 PM