Private lender ICICI Bank has increased interest rates on fixed deposits (FD) by five basis points (bps). The Mumbai-headquartered bank's new interest rate applies on FDs of up to Rs 3 crore. 

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The ICICI Bank offers the highest FD interest rate of up to 7.25 per cent while 7.80 per cent on senior citizen FDs.

ICICI Bank's updated interest rate on FDs

The bank raised its FD interest rate by five basis points for a duration of 15 months to two years, earning the maximum rate of 7.25 per cent, up from 7.20 per cent. The bank has also increased the 18-month to 2-year tenure rate from 7.20 per cent to 7.25 per cent.

FDs maturing in two years and up to five years will provide a 7 per cent interest rate. FDs maturing in five years and one day to 10 years will earn 6.9 per cent interest.

ICICI Bank pays 3 per cent interest on FDs maturing between seven and 29 days. FDs due between 30 and 45 days will provide an interest rate of 3.5 per cent. The bank offers a 4.25 per cent interest rate on FDs due in 46 to 60 days.

FDs maturing between 61 and 90 days will earn an interest rate of 4.5 per cent. FDs maturing between 91 days and 184 days will earn you 4.75 per cent. Fixed deposits maturing between 185 and 270 days will provide an interest rate of 5.75 per cent. Fixed deposits maturing between 271 days and less than a year will earn 6 per cent interest. Fixed-term deposits expiring in one year or less than fifteen months will earn 6.7 per cent interest.