ICICI Bank reduces interest on FD for select maturity period

New Delhi: ICICI Bank has reduced the interest rates on its FD for select maturity period. Here we are talking about FD with premature withdrawal facility of less than Rs 2 crore. The new revised interest rates for these FDs came into effect from 7 September. The maturity period for which interest rates on FDs have come down are from ’91 to 184 days’ and ‘290 days to less than 1 year’. For both these periods, the interest rate has been reduced by 0.50 per cent and 0.10 per cent respectively. At the same time, the interest rate on FDs ranging from ‘2 years 1 day to 3 years’ has increased by 0.05 per cent. Interest rates have not been changed for the rest of the maturity period.

ICICI Bank is now offering an interest rate of 3.50 per cent on FDs ranging from 91 days to 184 days with a premature withdrawal facility of less than Rs 2 crore. This rate was 4 percent earlier. At the same time, 4.40 percent annual interest is being received on FDs of less than 290 days to 1 year, which was 4.5 percent earlier. On the other hand, the interest rate on FDs ranging from 2 years to 1 year to 3 years in the bank has become 5.15 percent annually. It was earlier 5.10 percent.

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