ICICI Bank Increases Interest On Fixed Deposits: Get Upto 6.5% Interest | Check Your Returns (Full List)

Latest reports indicate that the Reserve Bank of India (RBI) has raised its key repo rate by 50 basis points last week.

The move is to control the inflation in the country.

Now, all the banks are following suit by increasing their interest rates on deposits and loans. 

Many banks including ICICI Bank, Punjab National Bank and State Bank of India, have also joined the list of banks that have pushed up their interest rates. 

Among others, one of the leading banks, ICICI Bank has also raised the rates on its fixed deposit (FD) offerings. 

ICICI Bank Fixed Deposit Interest Rate 

Let’s go through the latest FD interest rates of ICICI Bank which are applicable to deposits below Rs 2 crore and effective from June 16.

Period	Interest Rate For General Public	Interest Rate For Senior Citizens
7 days to 14 days	2.75%	3.25%
15 days to 29 days	2.75%	3.25%
30 days to 45 days	3.25%	3.75%
46 days to 60 days	3.25%	3.75%
61 days to 90 days	3.25%	3.75%
91 days to 120 days	3.75%	4.25%
121 days to 150 days	3.75%	4.25%
151 days to 184 days	3.75%	4.25%
185 days to 210 days	4.60%	5.10%
211 days to 270 days	4.60%	5.10%
71 days to 289 days	4.60%	5.10%
290 days to less than 1 year	4.60%	5.10%
1 year to 389 days	5.30%	5.80%
390 days to less than 15 months	5.30%	5.80%
15 months to less than 18 months	5.30%	5.80%
18 months to 2 years	5.30%	5.80%
2 years 1 day to 3 years	5.50%	5.80%
3 years 1 day to 5 years	5.70%	6.20%
5 years 1 day to 10 years	5.75%	6.50%

How Did This Happen?

Following the RBI’s announcement on Jun 8, 2022 Several banks have been increasing their fixed deposit interest rates.

Last week, the RBI’s Monetary Policy Committee unanimously decided to raise the repo rate by 50 basis points to 4.90 per cent.

Behind this, the central bank’s focus was on withdrawal of accommodation. 

The move has prompted the lenders to hike interest rates on loans.