Icici bank fd: People who want safe and fixed returns, invest money in FD. However, such investors are going to get a shock. One of the country’s big banks, ICICI Bank has cut its fixed deposit interest rates. The deposit of less than ₹ 3 crore has been cut by up to 20 basis points for certain periods. For ordinary citizens, the bank is now paying interest rates between 3% to 7.05% between 3% to 7.05%, while for senior citizens is giving interest rates between 3.5% to 7.55%. The bank’s new rates have come into force from May 26, 2025.
Which periods reduced rates?
The ICICI Bank has cut the interest rates on the FD to be made for various periods. Which is as follows-
Less from 1 year to 15 months: Interest rate 20 basis points have been reduced to 6.7% to 6.5%.
Less from 15 months to 18 months: Now you will get a rate of 6.8% to 6.6%.
18 months to 2 years: This period will now reduce from 7.05% to 6.85% interest for this period.
2 years 1 day to 5 years: The interest rate for this period has been cut by 15 basis points. Which has now been reduced from 6.90% to 6.75%.
5 years 1 day to 10 years: Now instead of 6.8%, you will get 6.7% interest.
Tax-seed FD: Its interest rate has also been reduced from 6.9% to 6.75%.
The rate of FD has also been cut for such senior citizens. By the way, if we talk about high FD returns, then the highest FD interest rate for senior citizens is 7.35% from 18 months to 2 years.
ICICI Bank also changed RD rates
After the new change, the ICICI bank is giving a recurring deposit (RD) interest rates between 4.75% to 6.85% for common people and 5.25% to 7.35% for senior citizens.
FD interest rates of some other banks
HDFC Bank: 3.00% to 7.05% for common citizens and 3.50% to 7.55% for senior citizens. Senior citizens can get up to 7.55% over a period of 15 to 18 months.
State Bank of India (SBI): Interest rates are available from 3.30% to 7.50% for common citizens and 3.80% to 7.75% for senior citizens. SBI’s Amrit Vrishti (444 days) scheme pays 7.35% interest to senior citizens.
Punjab National Bank (PNB): It provides interest rates from 3.50% to 7.25% for ordinary citizens and 4.00% to 7.75% for senior citizens. Senior citizens can get 7.50% interest on a period of 390 days.
Canara Bank: 4.00% to 7.25% for common citizens and 4.00% to 7.75% for senior citizens. Senior citizens can get interest up to 7.75% on a period of 444 days.
Let us tell you that these rates can vary depending on the bank and the selected period.