ICICI Bank Fixed Deposit Rates: October 2024 Update
The ICICI Bank, one of India’s leading private sector banks, has made a significant revision to its fixed deposit (FD) interest rates as of October 1, 2024. This new structure applies to deposits up to ₹3 crore. For senior citizens, the bank is offering an attractive maximum interest rate of 7.80% on fixed deposits with tenures ranging from less than 15 months to 18 months. This revision reflects the bank’s commitment to providing competitive rates to its customers, catering to their savings needs while ensuring they get optimal returns on their investments.
Interest Rates Overview
Here’s a detailed breakdown of the interest rates offered by ICICI Bank for fixed deposits up to ₹3 crore, categorized by tenure:
| Tenure | General Public (%) | Senior Citizens (%) |
|---|---|---|
| 7 days to 29 days | 3.00 | 3.50 |
| 30 days to 45 days | 3.50 | 4.00 |
| 46 days to 60 days | 4.25 | 4.75 |
| 61 days to 90 days | 4.50 | 5.00 |
| 91 days to 184 days | 4.75 | 5.25 |
| 185 days to 270 days | 5.75 | 6.25 |
| 271 days to less than 1 year | 6.00 | 6.50 |
| One year to less than 15 months | 6.70 | 7.20 |
| 15 months to less than 18 months | 7.25 | 7.80 (Maximum interest rate offered) |
| 18 months to 2 years | 7.25 | 7.75 |
| 2 years 1 day to 5 years | 7.00 | 7.50 |
| 5 years 1 day to 10 years | 6.90 | 7.40 |
| 5-year tax saving FD | 7.00 | 7.50 |
Key Points to Consider
It is essential for investors to note that these interest rates are applicable only for fixed deposits up to ₹3 crore and are aligned with current market trends. Additionally, senior citizens benefit from higher rates, encouraging them to make informed investment decisions. The updates highlight ICICI Bank’s competitive edge in the banking sector, aiming to attract both individual and institutional investors looking to maximize their savings.
Note: The fixed deposit rates mentioned above are sourced from the official website of ICICI Bank and are subject to periodic revisions based on market conditions. Customers are encouraged to regularly check these rates for the best investment opportunities.
