The interest rate on FDs of 2 years 1 day to 3 years has been increased from 5.80 percent to 6 percent. This FD has been increased by up to 20 basis points. ICICI Bank is giving 5.80 percent interest on FDs maturing in 2 years one day to 3 years.
ICICI Bank has increased FD rates. The new rates are applicable from 18 October
ICICI Bank has fixed deposit (FD) interest rates have increased. According to the bank, interest rates have been increased for FD schemes with deposits less than Rs 2 crore. The FD rate has been increased by 20 basis points. The new rates of ICICI Bank have come into effect from October 18, 2022. In this way, the FD rates of ICICI Bank have gone up from 3 per cent to 6.20 per cent. This bank runs FD scheme for 7 days to 10 years.
The interest rate on FDs maturing in 185 days to 1 year has been increased from 4.90 per cent to 5 per cent. Similarly, FDs with a tenure of 1 year to 2 years are getting 5.80 percent interest. Earlier this rate was 5.70 percent, which has been increased by 10 basis points. On FDs of 91 days to 814 days, customers are getting 4.25 percent interest, which used to be 4 percent earlier.
how much interest has already increased
The interest rate on FDs of 2 years 1 day to 3 years has been increased from 5.80 percent to 6 percent. This FD has been increased by up to 20 basis points. ICICI Bank is giving 5.80 percent interest on FDs maturing in 2 years one day to 3 years. Earlier this rate was 5.60 percent, in which it has been increased by 20 basis points. 6.20 percent interest is being given on FDs of 3 years 1 day to 5 years. FD of 5 years, also known as 80C FD, is also getting 6.20 percent interest. The maximum amount that can be deposited in this FD is Rs 1.5 lakh. FDs of 5 years to 10 years are getting 6.10 percent interest, earlier its rate was 6 percent.
ICICI Bank is giving some extra interest to the senior citizens as compared to the common people. The rate of interest for senior citizens is fixed at 3.50 percent to 6.75 percent. This rate is for a period of 7 days to 10 years.
RD rate of ICICI Bank
ICICI Bank will now pay interest in the range of 4.25 percent to 6.20 percent for recurring deposits. The maturity of RD will be from 6 months to 10 years. According to the bank, 4.25 percent interest is being given on RD of 6 months, while the highest interest of 6.20 percent is being given on RD of 3 years to 5 years. 5 percent for 9 months, 5.80 percent for RDs of 12 months to 24 months, 6 percent on FDs of 27 months to 36 months and 6.10 percent on RD maturing in 5 years to 10 years.
How much tax on FD
According to ICICI Bank, interest earned on fixed deposits will be taxed as per the income slab. There is a provision to deduct TDS on FD income. If you want to save tax up to Rs 46,800 on FD, then you can invest in Tax Saver FD.