ICICI Bank has cut interest rates on its FDs for select maturity periods. Here we are talking about FD with premature withdrawal facility of less than Rs 2 crore. The new revised interest rates for such FDs came into effect from October 21. The maturity period for which ICICI Bank FDs have reduced interest rates are ‘1 year to 389 days’, ‘390 days to less than 18 months’ and ’18 months to 2 years’. The interest rate for these periods has been reduced by 0.10 percent. Interest rates have not been changed for the rest of the maturity period.
ICICI Bank is now offering 4.90% per annum interest on FDs of ‘1 year to 389 days’ and ‘390 days to less than 18 months’ FD with a premature withdrawal facility of less than Rs 2 crore. is. Earlier this interest rate was 5 percent. At the same time, the interest on FDs of ’18 months to 2 years’ FD is now 5 percent per annum, which was 5.10 percent earlier.
