New Delhi: Bringing the much needed cheer to people reeling under high inflationary pressures, ICICI Bank has hiked interest rates on Bulk Fixed Deposits (FD). The new Fixed Deposit Interest Rates of ICICI Bank is effective from Wednesday (23 March 2023).

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ICICI Bank has hiked interest rates for Bulk Fixed Deposits of over Rs 2 crore to less than Rs 5 crore for tenors ranging from 7 days to 10 years. The effective rate hike for these tenors are between 4.75 percent and 6.75 percent, ICICI Bank's official website said. Check the latest ICICI Bank Fixed Deposit Interest Rates 2023. Here's the table


Maturity Period Interest rates (per cent per annum) w.e.f. February 24, 2023 Interest rates (per cent per annum) w.e.f. March 22, 2023
Single deposit of less than ₹20.0 million Single deposit of ₹20.0 mn & above but less than 50.0 mn
General **Senior Citizen General **Senior Citizen
7 days to 14 days 3.00% 3.50% 4.75% 4.75%
15 days to 29 days 3.00% 3.50% 4.75% 4.75%
30 days to 45 days 3.50% 4.00% 5.50% 5.50%
46 days to 60 days 4.25% 4.75% 5.75% 5.75%
61 days to 90 days 4.50% 5.00% 6.00% 6.00%
91 days to 120 days 4.75% 5.25% 6.50% 6.50%
121 days to 150 days 4.75% 5.25% 6.50% 6.50%
151 days to 184 days 4.75% 5.25% 6.50% 6.50%
185 days to 210 days 5.75% 6.25% 6.65% 6.65%
211 days to 270 days 5.75% 6.25% 6.65% 6.65%
271 days to 289 days 6.00% 6.50% 6.75% 6.75%
290 days to less than 1 year 6.00% 6.50% 6.75% 6.75%
1 year to 389 days 6.70% 7.20% 7.25% 7.25%
390 days to < 15 months 6.70% 7.20% 7.25% 7.25%
15 months to < 18 months 7.10% 7.60% 7.15% 7.15%
18 months to 2 years 7.10% 7.60% 7.15% 7.15%
2 years 1 day to 3 years 7.00% 7.50% 7.00% 7.00%
3 years 1 day to 5 years 7.00% 7.50% 6.75% 6.75%
5 years 1 day to 10 years 6.90% #7.50% 6.75% 6.75%
5 Years (80C FD) – Max to `1.50 lac 7.00% 7.50% NA NA

ICICI Bank FD RATE Previous rates


Maturity Period Interest rates (per cent per annum) w.e.f. December 16, 2022 Interest rates (per cent per annum) w.e.f. February 08, 2023
Single deposit of less than ₹20.0 million Single deposit of ₹20.0 mn & above but less than 50.0 mn
General **Senior Citizen General **Senior Citizen
7 days to 14 days 3.00% 3.50% 4.50% 4.50%
15 days to 29 days 3.00% 3.50% 4.50% 4.50%
30 days to 45 days 3.50% 4.00% 5.25% 5.25%
46 days to 60 days 4.00% 4.50% 5.50% 5.50%
61 days to 90 days 4.50% 5.00% 5.75% 5.75%
91 days to 120 days 4.75% 5.25% 6.25% 6.25%
121 days to 150 days 4.75% 5.25% 6.25% 6.25%
151 days to 184 days 4.75% 5.25% 6.25% 6.25%
185 days to 210 days 5.50% 6.00% 6.50% 6.50%
211 days to 270 days 5.50% 6.00% 6.50% 6.50%
271 days to 289 days 5.50% 6.00% 6.65% 6.65%
290 days to less than 1 year 5.75% 6.25% 6.65% 6.65%
1 year to 389 days 6.60% 7.10% 7.10% 7.10%
390 days to < 15 months 6.60% 7.10% 7.10% 7.10%
15 months to < 18 months 7.00% 7.50% 7.15% 7.15%
18 months to 2 years 7.00% 7.50% 7.15% 7.15%
2 years 1 day to 3 years 7.00% 7.50% 7.00% 7.00%
3 years 1 day to 5 years 7.00% 7.50% 6.75% 6.75%
5 years 1 day to 10 years 6.90% #7.50% 6.75% 6.75%
5 Years (80C FD) – Max to `1.50 lac 7.00% 7.50% NA NA

Fixed Deposit Interest rate will be subject to Tax Deducted at Source as per Income Tax Laws. Meanwhile, no FD Interest Rate would be payble if the depositor withdraws the entire FD amount within 7 days from the date of deposits --subject to the minimum tenure of 7 days for Domestic and NRO Term Deposits, says ICICI Bank.

One customer can avail a maximum tax deduction of Rs 1,50,000 from taxable income through an ICICI Bank tax saver FD. ICICI Bank staff (including retired staff) will get an additional 1% rate of interest on domestic deposits below Rs 2 crore, the bank says.