Private sector bank revises interest rates on Fixed Deposits

New Delhi: Private sector lender ICICI Bank has slashed interest rates on Fixed Deposits (FD) across various tenures by up to 20 basis points (bps) for amounts less than Rs 3 crore.

ICICI Bank FD Interest Rates will apply to new as well as renewed FDs. The bank has mentioned in its website that FD interest payouts will be subject to Tax Deducted at Source (TDS) as per Income Tax Laws. If you change your account from Non-Resident to Resident, the Resident Deposit interest rates will be applicable. NRE rates are only for tenure of 1 year or more.

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Tenure    With Premature Withdrawal

       General Citizen       Senior Citizen

7 to 45 Days   3.00%     3.50%

46 to 90 Days 4.25%     4.75%

91 to 184 Days      4.75%     5.25%

185 to 270 Days     5.75%     6.25%

271 Days to < 1 Year     6.00%     6.50%

1 Year to < 15 Months   6.50%     7.00%

15 Months to < 18 Months    6.60%     7.10%

18 Months to 2 Years     6.85%     7.35%

2 Years 1 Day to 5 Years       6.75%     7.25%

5 Years 1 Day to 10 Years     6.70%     7.20%

5Y (Tax Saver FD)  6.75%     7.25%