ICICI Bank cuts fixed deposit interest rates by up to 25 basis points after the Reserve Bank of India's recent repo rate cut.
Senior citizens are offered higher returns. New dates are effective from June 10,2025. Deposits below ₹3 crore are privy to changes. they vary based on tenure and customer type.
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Senior citizens earn up to 7.10% for the same durations. The highest rate for general citizens is 6.60%, applicable for tenures from 2 years 1 day to 10 years.
The central bank's decision to ease interest rates to support economic growth is aligned to the revision. In the coming weeks, many other banks are also expected to follow with rate changes.
A fixed deposit is a financial instrument where customers invest a lump sum for a fixed tenure at a predetermined interest rate. For risk-averse individuals, it is considered as a safe investment.
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