Key Highlights
- ICICI Bank reduces FD interest rates by up to 25 bps following RBI's repo rate cut.
- Senior citizens can now earn up to 7.10% p.a. on select FD tenures.
Private sector lender ICICI Bank has reduced interest rates on Fixed Deposits (FDs) of various tenures by up to 25 basis points (bps) for amounts under Rs 3 crore.
The most recent FD rates will take effect on June 10, 2025, according to the ICICI Bank website.
Rates for deposits with early withdrawal options range from 3.50% to 7.10% for seniors and from 3.00% to 6.60% for general citizens. General citizens receive 3.0% and seniors receive 3.5% for short-term tenures, such as 7 to 45 days. 5.50% and 6.00% are the yields for mid-range tenures of 185 to 270 days, respectively. Senior citizens receive 6.75% to 7.00% and general citizens receive 6.25% to 6.50% from long-term FDs of one to two years. The highest rates, which apply to tenures ranging from two years and one day to ten years, including the five-year Tax Saver FD, are 6.60% for general citizens and 7.10% for senior citizens.
ICICI Bank FD Interest Rates will apply to both new and renewed FDs. The bank stated on its website that FD interest payouts will be subject to Tax Deducted at Source (TDS) in accordance with Income Tax Laws. If you change your account type from Non-Resident to Resident, the Resident Deposit interest rates will apply. According to ICICI, NRE rates are only available for a one-year or longer tenure.
Senior Citizens Fixed Deposit (FD) interest rates apply only to Domestic Fixed Deposits.
