New Delhi: ICICI Bank has slashed the fixed deposit (FD) rates across various tenors by up to 50 basis points. The new rates will be effective May 11.
The customers will now get 5.25 per cent interest on deposits up to one year, while those above one year will earn 5.7 per cent to 5.75 per cent, ICICI Bank said on its website.
Following is the table on FD rates as per the bank's website:
|Tenure Period||Rate of Interest (% p.a.) w.e.f May 11, 2020|
|7 days to 14 days||3.25||3.75|
|15 days to 29 days||3.50||4.00|
|30 days to 45 days||3.75||4.25|
|46 days to 60 days||4.25||4.75|
|61 days to 90 days||4.25||4.75|
|91 days to 120 days||4.25||4.75|
|121 days to 184 days||4.25||4.75|
|185 days to 289 days||4.75||5.25|
|290 days to less than 1 year||5.25||5.75|
|1 year to 389 days||5.70||6.20|
|390 days to < 18 months||5.70||6.20|
|18 months to 2 years||5.75||6.25|
|2 years 1 day upto 3 years||5.75||6.25|
|3 years 1 day upto 5 years||5.75||6.25|
|5 years 1 day upto 10 years||5.75||6.25|
|5 Years Tax saver FD(Max upto Rs. 1.50 lac)||5.75||6.25|
|(Table Source: ICICI Website)|
The bank reported a 6.91 per cent growth in March quarter net profit at Rs 1,251 crore on a consolidated basis, after setting aside over Rs 2,000 crore in provisions for potential impact of the COVID-19 pandemic over and above RBI's requirements.
On a standalone basis, the second largest private sector bank's profit grew 26 per cent to Rs 1,221 crore as against Rs 969 crore in the year-ago period.
For the fiscal year 2019-20, it reported a 135 per cent jump in standalone profit to Rs 7,930.81 crore.