ICICI Bank cuts fixed deposit rates by up to 0.50%: Check new FD rates here

New Delhi: ICICI Bank has slashed the fixed deposit (FD) rates throughout numerous tenors by up to 50 foundation factors. The new rates shall be efficient May 11.

The prospects will now get 5.25 per cent curiosity on deposits up to one yr, whereas these above one yr will earn 5.7 per cent to 5.75 per cent, ICICI Bank mentioned on its web site.

Following is the desk on FD rates as per the financial institution’s web site:


Tenure PeriodRate of Interest (% p.a.) w.e.f May 11, 2020
GeneralSenior Citizen*
7 days to 14 days3.253.75
15 days to 29 days3.504.00
30 days to 45 days3.754.25
46 days to 60 days4.254.75
61 days to 90 days4.254.75
91 days to 120 days4.254.75
121 days to 184 days4.254.75
185 days to 289 days4.755.25
290 days to lower than 1 yr5.255.75
1 yr to 389 days5.706.20
390 days to < 18 months5.706.20
18 months to 2 years5.756.25
2 years 1 day upto Three years5.756.25
Three years 1 day upto 5 years5.756.25
5 years 1 day upto 10 years5.756.25
5 Years Tax saver FD(Max upto Rs. 1.50 lac)5.756.25
(Table Source: ICICI Website)  

The financial institution reported a 6.91 per cent progress in March quarter internet revenue at Rs 1,251 crore on a consolidated foundation, after setting apart over Rs 2,00Zero crore in provisions for potential influence of the COVID-19 pandemic over and above RBI’s necessities.

On a standalone foundation, the second largest non-public sector financial institution’s revenue grew 26 per cent to Rs 1,221 crore as in opposition to Rs 969 crore within the year-ago interval.
For the fiscal yr 2019-20, it reported a 135 per cent soar in standalone revenue to Rs 7,930.81 crore.

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