FD interest rates have been revised by private sector banks ICICI and HDFC. These changes have come into effect from 6 December 2023. Let us know what changes have been made in FD interest rates by ICICI Bank and HDFC Bank.
FD interest rates have been revised by private sector banks ICICI and HDFC. These changes have come into effect from 6 December 2023. ICICI Bank has changed the interest rates on FD ranging from Rs 2 crore to Rs 5 crore. Whereas HDFC Bank has revised the interest rates on FD above Rs 5 crore. Let us know what changes have been made in FD interest rates by ICICI Bank and HDFC Bank.
ICICI Bank Fixed Deposit Rates
According to the website of ICICI Bank, the lowest interest rate being given on FD of 7-14 days is 4.75 percent. If you make an FD for 30-45 days, you will get interest at the rate of 5.5 percent from the bank. Apart from this, ICICI Bank is offering 5.75 percent interest on FD of 46-60 days. The bank is offering 6 percent interest on FD of 61-90 days.
If you make an FD for 91-120 days, you will get 6.5 percent interest. The bank is also giving 6.5 percent interest on FDs of 121-150 days. If you make FD for 271-289 days, you will get 6.75 percent interest. Whereas, the highest interest of 7.25 percent is being given on FD of 390 days to 15 months.
HDFC Bank Fixed Deposit Rates
HDFC Bank has revised the interest rates for FDs above Rs 5 crore. Not only are these interest rates different for different periods, the interest rates are also being decided according to different amounts of FD above Rs 5 crore. The complete screen shot of the information received from the bank’s website is given below, from where you can see the interest rates according to different amounts and tenures.
FD rate for senior citizens
If you are a senior citizen and have made an FD of less than Rs 2 crore in ICICI Bank, then you will get 0.5 percent additional interest for all tenures. Whereas if your FD is between Rs 2 crore to Rs 5 crore, then no additional interest will be given to the senior citizen. The current change has been made for FDs of Rs 2-5 crore, so senior citizens will not get additional interest.
