ICICI Bank Slashes Fixed Deposit Rates by up to 25 Basis Points
ICICI Bank has announced a reduction in fixed deposit interest rates by up to 25 basis points, effective June 10, 2025. The highest interest rate for general citizens is now 6.60% for tenures of 2-10 years, while senior citizens can earn up to 7.10%. This change follows the Reserve Bank of India's recent repo rate cut and will affect both new deposits and renewals. The move aligns with broader market trends, and other financial institutions may follow suit.

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ICICI Bank , one of India's leading private sector banks, has announced a reduction in its fixed deposit interest rates by up to 25 basis points. The new rates will come into effect from June 10, 2025, following the Reserve Bank of India's (RBI) recent decision to cut the repo rate.
Key Changes in Fixed Deposit Rates
- General Citizens: The highest interest rate for general citizens has been revised to 6.60% for tenures ranging from 2 to 10 years.
- Senior Citizens: Senior citizens can now earn a maximum interest rate of 7.10% on their fixed deposits.
Impact on Depositors
This downward revision in fixed deposit rates will affect both new deposits and renewals of existing deposits. Customers looking for safe investment options may need to reassess their portfolio strategies in light of these changes.
Market Context
The reduction in ICICI Bank's fixed deposit rates aligns with the broader market trend following the RBI's monetary policy decision. As banks adjust their deposit rates in response to changes in the repo rate, it's likely that other financial institutions may follow suit.
Advice for Depositors
- Compare Rates: Customers are advised to compare fixed deposit rates across different banks before making investment decisions.
- Consider Tenure: With the new rate structure, carefully consider the deposit tenure that best suits your financial goals.
- Senior Citizen Benefits: Senior citizens should take advantage of the preferential rates offered to maximize their returns.
ICICI Bank's decision to reduce fixed deposit rates reflects the changing dynamics in the Indian banking sector. As interest rates continue to evolve, investors and depositors are encouraged to stay informed and adapt their financial strategies accordingly.
Historical Stock Returns for ICICI Bank
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-0.94% | +0.57% | -1.26% | +11.57% | +18.18% | +293.41% |