Delhi, New: The fixed deposit (FD) rates for the general public and senior people who make single deposits of Rs 2 crores and above but less than Rs 5 crores have been changed by private sector lender ICICI Bank. The bank website said that as of December 5, 2023, the ICICI Bank FD Rates are in effect.
With effect from December 5, 2023, the following interest rates (in percentage terms) will apply to single deposits of Rs. 2 crore and higher but less than Rs. 5 crore:
Time of MaturityInterest rates (annual percentage) starting on October 16, 2023Interest rates (annual percentage) starting on December 5, 2023
A single payment of less ₹2 crores single deposit of at least ₹2 crore but not more than ₹5 crore
Interest Rates for Common Citizens**Prices for Senior Citizens** **General Interest Rates for Senior Citizens**
seven to fourteen daysThree Percent3.50 percent4.75%4.75%
fifteen to twenty-nine days three Percent3.50 percent4.75%4.75% between 30 and 45 days3.50 percent4.00%5.50%5.50 percent 46 to 60 days4.25%4.75%5.75 percent5.75 percent
From 61 to 90 days4.50%Five Percent6.00%6.00% between 91 and 120 days4.75% 5.25%6.50%6.50% between 121 and 150 days4.75% 5.25%6.50%6.50% between 151 and 184 days4.75% 5.25%6.50%6.50%
between 185 and 210 days5.75 percent6.25 percent6.65%6.65% between 211 and 270 days5.75 percent6.25 percent6.65%6.65% from 271 to 289 days.6.00%6.50%6.75 percent6.75 percent
From 290 days to under a year6.00%6.50%6.75 percent6.75% 389 days to 1 year6.70% 7.20%7 % 7. 25% 390 days to less than 15 months6.70 percent7.20% 7.25%7.25 percent
fifteen to eighteen months7.65% 7.10%7.05% 7.05% From one year to two years7.65% 7.10%7.05% 7.05%
two years From one day to three years7.00%7.50%7.00%7.00% from one day to five years7.00% – 7.50%7.00% 7.00%
five years, one day, to ten years6.90% #7.50%7.00%7.00%
5 Years (FD at 80C) – Maximum of ~1.50 lac7.00% – 7.50%Not at all
The interest rates on non-withdrawable fixed deposits have been updated by HDFC Bank. HDFC Bank is now providing a maximum yield of 7.45 percent for one- to two-year terms and 7.2 percent for two- to ten-year terms on non-withdrawable fixed deposits.
The Reserve Bank of India’s (RBI) six-member Monetary Policy Committee (MPC) is set to meet from December 6–8, which is when the FD rate changes will take place.