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Another bank hikes fixed deposit interest rates

Mumbai: Indian multinational bank and financial services company, ICICI Bank has hiked interest rates on fixed deposits of less than Rs 2 crore. ICICI Bank  increased the interest rate on fixed deposits maturing in 7 days to 29 days by 25 basis points (bps), from 2.75% to 3.00%. it also  increased the interest rate on term deposits maturing in 30 days to 90 days by 25 bps, from 3.25% to 3.50%.

Fixed deposits with maturities between 91 and 184 days will get  an interest rate of 4.25% and term deposits with maturities between 185 and less than a year will get an interest rate of 4.90% .

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Fixed deposits maturing in 1 year to 2 will attract an interest rates  of 5.70% and term deposits maturing in 2 years 1 day to 3 years will fetch  5.80%. Fixed deposits maturing in 3 years, 1 day to 5 years will continue to pay 6.10% interest, while term deposits maturing in 5 years, 1 day to 10 years will now pay 6.00% interest.


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