Latest FD rates: ICICI Bank, HDFC Bank revise interest rates on these fixed deposits

Private sector lender, ICICI Bank, has revised the interest rates on fixed deposits of Rs 2 crore to up to Rs 5 crore with effect from December 5, 2023. The lowest rate of 4.75% is offered for a tenure between 7 days and 14 days, and the highest FD rate of 7.25% is offered for a tenure between 390 days and 15 months, according to ICICI Bank’s website.

HDFC Bank has also revised their fixed deposit (FD) rates on amounts above Rs 5 crore, effective December 5, 2023.

ICICI Bank Fixed Deposit ratesICICI Bank is offering an interest rate of 4.75% for FD between Rs 2 crore and Rs 5 crore for a tenure of 7 days to 14 days. For a tenure between 30 and 45 days, ICICI Bank offers an interest rate of 5.5%. For a tenure between 46 and 60 days ICICI Bank is offering 5.75%. For a tenure between 61 to 90 days ICICI Bank is offering 6% interest.

For a tenure between 91 days and 120 days, ICICI Bank is offering 6.5% interest. The bank is offering 6.5% for an FD of tenure between 121 days and 150 days. For a tenure between 271 days and 289 days ICICI Bank is offering an interest rate of 6.75%. For a tenure of 1 year to 389 days, ICICI Bank is offering 7.25%.

One point of distinction between FDs for an amount below Rs 2 crore and more than Rs 2 crore but less than Rs 5 crore is that ICICI Bank does not offer any extra interest rate for senior citizens.

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Maturity Period	Interest rates (per cent per annum) w.e.f. October 16, 2023		Interest rates (per cent per annum) w.e.f. December 05, 2023
	Single deposit of less than ₹2 Crores		Single deposit of ₹2 Crores & above but less than ₹5 Crores
	General Citizen Interest Rates	Senior Citizen Interest Rates	General Citizen Interest Rates	Senior Citizen Interest Rates
7 days to 14 days	3.00%	3.50%	4.75%	4.75%
15 days to 29 days	3.00%	3.50%	4.75%	4.75%
30 days to 45 days	3.50%	4.00%	5.50%	5.50%
46 days to 60 days	4.25%	4.75%	5.75%	5.75%
61 days to 90 days	4.50%	5.00%	6.00%	6.00%
91 days to 120 days	4.75%	5.25%	6.50%	6.50%
121 days to 150 days	4.75%	5.25%	6.50%	6.50%
151 days to 184 days	4.75%	5.25%	6.50%	6.50%
185 days to 210 days	5.75%	6.25%	6.65%	6.65%
211 days to 270 days	5.75%	6.25%	6.65%	6.65%
271 days to 289 days	6.00%	6.50%	6.75%	6.75%
290 days to less than 1 year	6.00%	6.50%	6.75%	6.75%
1 year to 389 days	6.70%	7.20%	7.25%	7.25%
390 days to	6.70%	7.20%	7.25%	7.25%
15 months to	7.10%	7.65%	7.05%	7.05%
18 months to 2 years	7.10%	7.65%	7.05%	7.05%
2 years 1 day to 3 years	7.00%	7.50%	7.00%	7.00%
3 years 1 day to 5 years	7.00%	7.50%	7.00%	7.00%
5 years 1 day to 10 years	6.90%	#7.50%	7.00%	7.00%
5 Years (80C FD) – Max to `1.50 lac	7.00%	7.50%	NA	NA

Source: ICICI Bank website

HDFC Bank Fixed Deposit rates

Here is a look at HDFC Bank’s domestic/NRE/NRO term deposit interest rates for amounts greater than or equal to Rs 5 crore, effective December 5, 2023, as per the bank’s official website.