Icici bank fd rates: ICICI Bank has recently cut its interest rates. Now customers will get less interest on both savings account and fixed deposit (FD). This step has been taken after two other big banks of the country – SBI and HDFC Bank. This indicates that the Indian banking system is gradually moving towards a low interest rate environment, which is happening according to the monetary policy of the Reserve Bank of India (RBI).
New rates of savings account
ICICI Bank has reduced the interest rate at 25 basis points (BPS) on savings account. Now customers who have a balance of less than ₹ 50 lakh at the end of the day at the end of the day, will get 2.75% annual interest, which was 3% earlier. At the same time, there will now be 3.25% interest on the balance of ₹ 50 lakh or more, which was 3.50% earlier. These interest rates will be calculated based on daily closing balance.
FD’s new interest rates
ICICI Bank has cut interest rates up to 50 basis points on select FD periods. Revise rates have come into force from 17 April 2025. General citizens will now get interest from 3% to 7.05% on FD, while senior citizens will get interest from 3.5% to 7.55%.
Interest will be available on FD
The rate on FD of 30 to 45 days has come down from 3.50% to 3%.
The rate on FD of 61 to 90 days has been reduced from 4.5% to 4.25%.
The rate on FD of 15 to 18 months has come down from 7.25% to 6.8%.
The rate on FD from 18 months to 2 years has come down from 7.25% to 7.05%.
The interest rate on FD of 2 years 1 day to 5 years has increased from 6.9%, which was 7% earlier.
The rate on FD of 5 years 1 day to 10 years has been increased to 6.8%, which was 6.9 percent earlier.
The rate on 5 -year tax saving FD is now 6.9%, earlier it was 7%.
What is the effect?
This decision will directly affect those who deposit money in the bank in savings account or fixed deposits. This is an important change for investors who expect guaranteed returns. Experts believe that there is a possibility of change in interest rates even further. Therefore, it is necessary to make the right plan keeping in mind the current interest rates and the target of your investment before investment.
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