ICICI Bank hikes fixed deposit interest rates

Mumbai: ICICI Banks hikes fixed deposit (FD) interest rates for both general and senior citizens which is effective from today.

FD interest rates in ICICI Bank range from 4.00 per cent per annum to 6.50 per cent per annum for deposits with a tenure of 7 days to less than 365 days. Short term ICICI Bank FD rates for senior citizens range from 4.50 per cent to 7.00 per cent per annum.

ICICI Bank offers best FD rate of 7.75 per cent on term deposits for a tenure of 2 years 1 day to 5 years. The bank offers special interest rate on FD for senior citizens.

ICICI Bank FD interest rates for long term deposits with tenure of 5 years 1 day to 10 years offer good returns. ICICI Bank fixed deposit rates for deposits with a tenure of 10 years is 7.00 per cent. Senior citizen are offered deposit rates of 7.50 per cent per annum for long termed FDs.

ICICI Bank 5 years tax saver fixed deposit (FD) rates (Max upto Rs 1.50 lac) offers 7.25 for general and for senior citizens 7.75 per cent.

Fixed Deposits rates of ICICI Bank are a function of many factors such as monetary policies of RBI, economic growth rate, credit demand and liquidity position of the bank.