ICICI Bank revises bulk FD rates, promising up to 7.25% on these tenors effective from today
2 min read 20 Apr 2023, 03:43 PM IST- The private sector lender ICICI Bank has revised its interest rates on bulk fixed deposits (FDs) of more than ₹2 Cr to less than ₹5 Cr.
PremiumThe private sector lender ICICI Bank has revised its interest rates on bulk fixed deposits (FDs) of more than ₹2 Cr to less than ₹5 Cr. Following the revision, the bank is now promising interest rates ranging from 4.75% to 6.75% on bulk deposits maturing in 7 days to 10 years. On a deposit tenor of 1 year to 15 months, ICICI Bank is now promising a maximum interest rate of 7.25%. ICICI Bank's bulk FD rates are valid as of today, April 20, 2023, according to the bank's official website.
ICICI Bank Bulk FD Rates
The bank now promises an interest rate of 4.75% on bulk deposits that mature in 7 days to 29 days, and ICICI Bank now offers an interest rate of 5.50% on bulk deposits that mature in 30 days to 45 days. ICICI Bank is now offering interest rates of 5.75% for deposits held for 46 to 60 days and 6.00% for deposits held for 61 to 90 days. Deposits that mature within the next 91 to 184 days will now earn 6.50% interest, while those maturing in the next 185 to 270 days will now earn 6.65% interest.
The bank currently promises an interest rate of 6.75% for bulk deposits that mature between 271 days to less than a year, and a maximum interest rate of 7.25% for bulk deposits maturing in a year to 15 months. ICICI Bank is now giving interest rates of 7.15 percent on deposits with tenors of 15 months to two years and 7% on deposits with tenors of two years and one day to three years. Deposits with maturities between three and ten years will now earn interest at a rate of 6.75%.
“Pursuant to the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the meeting of the Board of Directors of the Bank is scheduled to be held on Saturday, April 22, 2023 to, inter alia, consider and approve the audited financial results (standalone and consolidated) for the quarter and year ending March 31, 2023 and recommendation of dividend, if any, for the year ending March 31, 2023," said ICICI Bank in a stock exchange filing.
“We wish to inform you that the Board of the Bank at its meeting scheduled on April 22, 2023 will also consider, inter-alia, the following: “fund raising by way of issuance of debt securities including non-convertible debentures/bonds/notes/offshore certificate of deposits in single/multiple tranches in any currency through public/private placement and buyback of securities within the limits that the Board is authorised to approve under applicable law," said the Board of Directors of ICICI Bank in a separate exchange filing.