By Admin 
ICICI Bank Cuts FD and Savings Rates: ICICI has also joined the banks that reduce interest rates on bank deposits. After SBI, HDFC, now ICICI Bank has also reduced interest rates on both savings account and fixed deposits. These revised rates have become effective from 17 April 2027. After cutting the repo rate from RBI, the bank has now taken this step.
If you have a savings account with ICICI Bank, then you will get less interest on it now. The rates of interest per year on the amount of Rs 50 lakhs have now been increased to 2.75 percent, which was 3 percent earlier. Apart from this, if your savings account is Rs 50 lakh or more, then interest rates have been reduced from 3.5 percent to 3.25 percent.
Customers are getting interest from 3% to 7.05% on fixed deposits, while senior citizens are getting rates ranging from 3.5 percent to 7.55 percent. For example, on 30 to 45 days FD, now normal customers will get 3% interest, which was earlier 3.5%. Similarly, the interest rate on FD of 61 to 90 days has been reduced from 4.5% to 4.25%.
Now 6.8 percent interest will be available on fixed deposits of 15 to 18 months, whereas earlier this rate was 7.25 percent. The interest rate on FD of 18 months to 2 years has been reduced from 7.25 percent to 7.05 percent. However, senior citizens are getting a little more interest than normal customers on every period. For example, senior citizens get 3.5 percent interest on 7 to 29 days FD, while the interest rates on 46 to 60, 61 to 90, 91 to 184, and 185 to 270 days have been fixed at 4.75%, 4.75%, 5.25% and 6.25% respectively.
The special thing is that the interest rate for general customers on 2 years 1 day to 5 years fixed deposits has been increased from slightly to 6.9 percent, and this rate for senior citizens is 7.40 percent. At the same time, the interest rate on FD from 5 years to 10 years to 10 years has been reduced to 6.8 percent for normal customers and 7.30 percent for senior citizens. Now general customers will get 6.9 percent interest on 5-year tax-saving FD and 7.40 percent interest to senior citizens.
It is worth noting that this change is due to the policies of the Reserve Bank of India (RBI), which is currently moving towards reducing interest rates. Its effect is clearly visible on the deposit schemes of banks.
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