ICICI Bank Hikes FD Rates W.E.F June 7, 2022: Check New Rates Here

Second largest private lender, ICICI Bank has decided to hike the interest on fixed deposit yet again On June 7, 2022. The new rates have already become effective and you will be able to view the latest interest rates on the official website of the bank. The announcement of the rate hike in FDs have come at a time when the Reserve Bank of India is holding its bi-monthly Monetary Policy Committee meeting.

According to experts, RBI is likely to raise key rates in a effort to check the soaring inflation. The policy decision is expected to come out on June 8, 2022. The rate setting panel of RBI had started its bi-monthly deliberation on June 6. Earlier, RBI had announced a repo rate hike of 40 bps in its unscheduled meet that took place on
May 4.

Soon after this many banks increased FD interest rates thus making them more
Meanwhile, ICICI Bank have revised interest rates for deposits more than 2 crore and up to 5 crore. The bank has revised the interest rates for Domestic, NRO, and NRE deposits, according to its official website. According to ICICI Bank, "Senior Citizen rates applicable only for domestic term deposits."

The new FD interest rates on Domestic, NRO and NRE deposit are as below effective from today:

FD for 7-29 days: The rates have been hiked from 2.50% to 3% for both general and senior citizens.

30 -60 days: The interest rates for general citizens has been hiked from 3% to 3.25% while for senior citizens the interest rates have come down from 3.50% to 3.25%.

61 days - 90 days: The interest rates for general citizen has been hiked from 3% to 3.40% while for senior citizens the interest rates have come down from 3.50% to 3.40%.

91-184 days: The interest rates have been hiked from 3.50% to 4.25% and for senior citizens the rates have been increased from 4% to 4.25%

185 days- 210 days: The interest rates are increased from present 4.40% to 4.50% for general citizens while for senior citizens the rate is slashed from 4.90% to 4.50%

2 years 1 day to 3 years: General citizens and senior citizen will be eligible to receive 5.25% interest rates

3 years 1 day-5 years: The interest rate has been slashed from 5.60% to 5.25% and for senior citizens too the interest rate has been reduced from 6.10% to 5.25%.

5 years 1 day-10 years: The interest rate is reduced from 5.75% to 5.25% while for senior citizens the rate has been reduced from 6.50% to 5.25%. Check the table below for latest interest rates effective June 7, 2022:

Single Deposit	₹5.00 crore to	₹5.10 crore to	₹24.90 crore to	₹25.00 crore to	₹100.00 crore to	₹250.00 crore to	> = ₹500.00 crore
Tenure Period	3	3	3	3	3	3	3
15 days to 29 days	3	3	3	3	3	3	3
30 days to 45 days	3	3.25	3	3.25	3.25	3.25	3.25
46 days to 60 days	3	3.25	3	3.25	3.25	3.25	3.25
61 days to 90 days	3	3.4	3	3.4	3.4	3.4	3.4
91 days to 120 days	3	4.25	3	4.25	4.25	4.25	4.25
121 days to 150 days	3	4.25	3	4.25	4.25	4.25	4.25
151 days to 184 days	3	4.25	3	4.25	4.25	4.25	4.25
185 days to 210 days	3	4.5	3	4.5	4.5	4.5	4.5
211 days to 240 days	3	4.5	3	4.5	4.5	4.5	4.5
241 days to 270 days	3	4.5	3	4.5	4.5	4.5	4.5
271 days to 300 days	3	4.7	3	4.7	4.7	4.7	4.7
301 days to 330 days	3	4.7	3	4.7	4.7	4.7	4.7
331 days to	3	4.7	3	4.7	4.7	4.7	4.7
1 year to 389 days	3.4	4.95	3.4	4.95	4.95	4.95	4.95
390 days to	3.4	4.95	3.4	4.95	4.95	4.95	4.95
15 months to	3.4	5	3.4	5	5	5	5
18 months to 2 years	3.5	5	3.5	5	5	5	5
2 years 1 day to 3 years	3.5	5.25	3.5	5.25	5.25	5.25	5.25
3 years 1 day to 5 years	3.5	5.25	3.5	5.25	5.25	5.25	5.25
5 years 1 day to 10 years	3.5	5.25	3.5	5.25	5.25	5.25	5.25