ICICI Bank FD: People looking for safe and fixed returns invest money in FD. However, such investors are going to get a shock. ICICI Bank, one of the big banks in the country, has cut its fixed deposit interest rates.
The interest rate has been cut by up to 20 basis points for certain periods on deposits less than ₹ 3 crore. For general citizens, the bank is now offering FD interest rates between 3% to 7.05%, while for senior citizens, interest rates are between 3.5% to 7.55%. The new rates of the bank have come into effect from May 26, 2025.
For which periods the rates were reduced?
ICICI Bank has reduced the interest rates on FDs made for different tenures. Which is as follows-
Less than 1 year to 15 months: Interest rate reduced by 20 basis points from 6.7% to 6.5%.
15 months to less than 18 months: Now the rate will be 6.6%, down from 6.8%.
18 months to 2 years: For this period the bank will now pay interest rate down from 7.05% to 6.85%.
2 years 1 day to 5 years: The interest rate for this period has been reduced by 15 basis points. Which has now been reduced from 6.90% to 6.75%.
5 years 1 day to 10 years: Now 6.7% interest will be available instead of 6.8%.
Tax-saver FD: Its interest rate has also been reduced from 6.9% to 6.75%.
Similarly, FD rates have been reduced for senior citizens as well. If we talk about high FD returns, the highest FD interest rate for senior citizens is 7.35% for a period of 18 months to 2 years.
ICICI Bank also changed the rates of RD
After the new change, ICICI Bank is offering recurring deposit (RD) interest rates between 4.75% to 6.85% for general public and 5.25% to 7.35% for senior citizens.
FD interest rates of some other banks
HDFC Bank: Offers interest rates ranging from 3.00% to 7.05% for general citizens and 3.50% to 7.55% for senior citizens. Senior citizens can get up to 7.55% on tenures of 15 to 18 months.
State Bank of India (SBI): Interest rates available range from 3.30% to 7.50% for general citizens and 3.80% to 7.75% for senior citizens. SBI’s Amrit Vrishti (444 days) scheme offers 7.35% interest to senior citizens.
Punjab National Bank (PNB): Offers interest rates ranging from 3.50% to 7.25% for general citizens and 4.00% to 7.75% for senior citizens. Senior citizens can get 7.50% interest on a tenure of 390 days.
Canara Bank: Offers interest rates ranging from 4.00% to 7.25% for general citizens and 4.00% to 7.75% for senior citizens. Senior citizens can get up to 7.75% interest on a tenure of 444 days.
Let us tell you that these rates may vary depending on the bank and the period chosen.
