This private bank has reduced the interest on savings accounts as well as FD by 0.25 percent. ICICI Bank’s new interest rates have also come into effect from today i.e. April 17.

ICICI Bank cuts FD interest rates by up to 0.50%

The country’s largest public sector bank – SBI and the largest private bank – HDFC have recently implemented a reduction in deposit interest rates. ICICI Bank has cut rates on select tenure FD schemes by 25 to 50 basis points. After this latest cut, the private bank is now offering interest of 3% to 7.05% on FD to its general customers and senior citizens will now get interest of 3.5% to 7.55% on FD. Earlier, ICICI Bank’s FD scheme with a tenure of 15 months to 2 years was offering a maximum interest of 7.25% to general customers and 7.85% to senior citizens.

Now 3.00% interest on FD with a tenure of 30 to 45 days

ICICI Bank has reduced the maximum interest rate by 50 basis points i.e. 0.50 percent on FD scheme with a tenure of 30 to 45 days. The bank has now reduced the interest rate for this tenure from 3.50 percent to 3.00 percent. Apart from this, the interest rate for the tenure of 61 to 90 days has been reduced by 25 basis points to 4.5% to 4.25%. For FDs with a tenure of 18 months to 2 years, the interest rate has been reduced by 20 basis points to 7.25% to 7.05%.

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Keeping the interests of the people in mind, government and private banks also keep launching attractive FD schemes. Now Punjab National Bank has also launched two new fixed deposits. Up to Rs 3 crore can be invested in these 303-day and 506-day fixed deposits.

Investors depositing money in the new FD of Punjab National Bank with a tenure of 303 days will get 7 percent interest. Similarly, the interest rate for the tenure of 506 days is 6.7 percent. These new interest rates have come into effect from January 1, 2025. Senior citizens and super senior citizens will get more interest by investing money in both these FDs. Senior citizens will be given 7.5 percent interest on the FD with a tenure of 303 days and 7.2 percent interest on the FD with a tenure of 506 days. Punjab National Bank is giving 7.85 percent interest on the FD with a tenure of 300 days and 7.5 percent interest on the FD with a tenure of 506 days to super senior citizens.

Interest for general customers from 3.50% to 7.25%

Punjab National Bank FD for general citizens from 7 days to 10 years. The bank’s interest rate is from 3.50% to 7.25%. The highest interest rate is 7.25%, which is available on FD with a tenure of 400 days. For senior citizens, PNB is offering 4% to 7.75% interest on FD for 7 days to 10 years. The highest interest of 7.75% is available on FD with a tenure of 400 days.

For super senior citizens (80 years and above), Punjab National Bank is offering interest ranging from 4.30% to 8.05% on FDs for 7 days to 10 years. Currently, the bank is offering 8.05% interest on a tenure of 400 days.

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