New Delhi. The effect of cutting repo rate by the Reserve Bank of India (RBI) is now visible on the deposit schemes of banks. ICICI Bank, the second major private sector bank of the country, has given a shock to its customers. The bank has cut its fixed deposit (FD) interest rates. The bank has reduced the interest rates on FDs of some select tenure by 25 basis points (0.25 per cent). These new rates have come into force from June 9, 2025.
ICICI Bank’s new FD rates (up to Rs 3 crore)
46 days to 90 days: for common customer – 4 percent; For senior citizen – 4.50 percent
91 days to 184 days: for common customer – 4.50 percent; For senior citizen – 5.00 percent
185 days to 270 days: for common customer – 5.50 percent; For senior citizen – 6.00 percent
271 days to less than 1 year: for common customer – 6.75 percent; For senior citizen – 6.25 percent
Less than one year to 15 months: 6.25 percent for common customer; For senior citizen – 6.75 percent
15 months to 18 months less: for common customer – 6.35 percent; For senior citizen – 6.85 percent
18 months to 2 years: for common customer – 6.50 percent; For senior citizen – 7 percent
2 years 1 day to 5 years: for common customer – 6.60 percent; For senior citizen – 7.10 percent
5 years 1 day to 10 years: for common customer – 6.60 percent; For senior citizen – 7.10 percent
5 years Tax Saving FD: 6.6 percent for common customer; For senior citizen – 7.10 percent
Why reduced interest?
Let us know that the Reserve Bank of India had recently cut the repo rate by 50 basis points in monetary policy review. The repo rate is the rate on which RBI gives loans to banks. When the repo rate decreases, banks also start reducing interest rates on their debt and deposit schemes.
