A non-public sector lender, ICICI Financial institution, raised its rates of interest on mounted deposits price greater than $2 million to $5 million. On August 26, 2022, the brand new charges will take impact, in accordance with the financial institution’s official web site. Beginning right now, the financial institution will present mounted deposit rates of interest starting from 3.50% to five.90% for maturities of seven days to 10 years.
Rates of interest for Mounted Deposits
The financial institution will now give an rate of interest of three.50% on mounted deposits maturing in 7 days to 29 days, whereas ICICI Financial institution can even provide an rate of interest of three.60% on time period deposits maturing in 30 days to 45 days. Mounted deposits with maturities between 46 and 60 days now provide an rate of interest of 4.00%, whereas time period deposits with maturities between 61 and 90 days now provide a charge of 4.75%. On mounted deposits maturing between 91 and 184 days, ICICI Financial institution will now pay an rate of interest of 5.25%, and on deposits maturing between 185 and 270 days, 5.40%.
ICICI Financial institution will now provide an rate of interest of 5.60% on mounted deposits maturing in 271 days to lower than a 12 months, and a charge of 6.05% on time period deposits maturing in a 12 months to 5 years. The rate of interest for mounted deposits maturing in 5 years, 1 day to 10 years is now 5.90%.
ICICI Financial institution has cited on its web site that “Now you possibly can spend money on ICICI Financial institution’s Mounted Deposits by the digital and department channel for a hard and fast tenure, as per your comfort. You’ll be able to multiply your financial savings with excessive FD rates of interest by an ICICI Financial institution FD.”
“With the present uncertainty and extremely unstable market, you possibly can all the time depend on ICICI Financial institution’s Mounted Deposits for assured and assured returns. An ICICI Financial institution FD is among the most secure FDs and rated as “AAA”, beating any competitors with ease,” ICICI Financial institution has mentioned on its web site.
ICICI Financial institution just lately elevated the rates of interest on mounted deposits beneath 2 Cr on August 19, 2022. The financial institution raised rates of interest on mounted deposits with maturities starting from one 12 months to 10 years on account of the modification. The best rate of interest provided by ICICI Financial institution for mounted deposits maturing in 3 years, 1 day to five years is 6.10% for non-senior residents and 6.60% for senior individuals.