Private Lender ICICI Bank Increases Interest Rates

New Delhi: India's second largest private lender, ICICI Bank has increased the interest rate on Domestic, Non-Residential External (NRE) and Non- Resident Ordinary (NRO) fixed deposits of Rs 2 Cr & above but less than 5 Cr. According to the bank's official website, the bank states the new interest rate is applicable from 7 April 2023.

However the bank will now be offering interest of 7.25 % (maximum) and a 4.75 percent (minimum) to senior citizens. There will be boost point for the Investors who make FDs of more than Rs. 2 crore but less than Rs. 5 crore.
 

According to the Bank, "Minimum tenure for NRE Term Deposits is 1 year and no interest is payable for deposits prematurely withdrawn within the period of 1 year from the date of the deposit. Minimum amount to open domestic FD is Rs 10000 and NRO / NRE term deposits is Rs 25000."