Know the rest rates
The interest rate on fixed deposits maturing in 18 months to 2 years was 4.50 percent earlier, but now it will be 4.60 percent. This represents an increase of 10 basis points. Whereas the interest rate on deposits maturing in 2 years 1 day to 3 years has been increased from 4.60 percent to 4.70 percent. The interest rate on fixed deposits maturing in 3 years 1 day to 5 years and 5 years 1 day to 10 years will increase from 4.7 per cent to 4.80 per cent. This would be an increase of 10 basis points. The interest rate for the rest of the period remains unchanged by the bank.
Maximum and Minimum FD Tenure
ICICI Bank offers FDs ranging from 7 to 14 days to 10 years to the general public as well as senior citizens for amounts ranging from Rs 2 crore to Rs 5 crore.
Maximum and Minimum FD interest rate
Explain that for the amount from Rs 2 crore to Rs 5 crore, 2.50 percent interest rate is being offered to ordinary citizens on the shortest period 7 to 14 days. The same interest rate on the maximum tenure of 5 years to 10 years is 4.80 percent. Senior citizens will also get the same interest on these tenors for this amount.
SBI rates
India’s largest public sector bank State Bank of India offers FDs with tenures ranging from 7 days to 10 years. The bank’s interest rates range from 2.9 per cent to 5.59 per cent for general customers, while for senior citizens, interest rates are 50 basis points (bps) higher. The latest rates are effective from February 15, 2022.
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