ICICI Bank Revises Bulk FD Rates For Senior Citizens, General Public; Check Latest Interest Rates Here

ICICI Bank is among the latest to revise its bulk fixed deposit interest rates for depositors with effect from September 2, 2023. These bulk deposits range from above Rs 2 crore but less than Rs 5 crore. Both senior citizens and general individuals are getting attractive interest rates on their bulk FDs.

The highest rate on bulk FDs is 7.25% offered on tenures from 1 year to less than 15 months to both senior citizens and the general category.

Further, the bank is offering a 7% interest rate on maturities from 15 months to 2 years.

An interest rate of 6.75% is offered on tenures ranging from 271 days to less than 1 year. Also, a similar rate is offered on tenures from 2 years 1 day to 10 years.

Additionally, an interest rate of 6.65% is offered on tenures from 185 days to 270 days; and a 6.50% interest rate is given on 91 days to 184 days tenures.

The bank is offering a 6% rate on 61 days to 90 days tenure, while 5.75% is given on 46 days to 60 days, and 5.50% is offered on 30 days to 45 days. Lastly, customers can earn up to 4.75% rate on tenures from 7 days to 29 days.

These revised Fixed Deposit interest rates will be applicable for new ICICI Bank Fixed Deposits and renewal of existing Fixed Deposit

On its website, the bank stated that as ICICI Bank FD interest rates are subject to change without prior notice, the depositor shall ascertain the rates on the value date of the FD. Also, the Fixed Deposit Interest rate will be subject to Tax Deducted at Source as per Income Tax Laws"(YEAR)". However, one customer can avail a maximum tax deduction of Rs 1,50,000 from taxable income through an ICICI Bank tax saver FD

Further, no FD Interest Rate would be payable if the depositor withdraws the entire FD amount within 7 days from the date of deposits. Subject to the minimum tenure of 7 days for Domestic and NRO Term Deposits.

The minimum tenure for NRE Term Deposits is 1 year and no interest is payable for deposits prematurely withdrawn within 1 year from the date of the deposit

Lastly, on change of residential status i.e. from non-resident to Resident deposits, a resident deposit rate of interest shall be applicable.