ICICI Bank Cuts Its FD Interest Rates By Up To 20 bps

ICICI Bank has announced its decision to cut the interest rates for its fixed deposits (FDs) by up to 20 bps (basis points). The reduction in interest rates is for certain FD products with select tenures for overall amounts less than ₹3 crore. As per the announcement, the new interest rates are applicable from May 26, 2025.

After the new interest rate revision, ICICI Bank now offers interest rates between 3% and 6.85% for its FD products for general citizens. On the other hand, for senior citizens, the FD interest rates range between 3.5% and 7.35%.

Prior to the cut, the bank offered 3% to 7.05% as FD interest rates for general citizens, while it was 3.5% to 7.55% for senior citizens.

Rate Cuts And Tenure 

• Tenure of 1 year but less than 15 months – Rate cut by 20 bps to 6.5% from the previous 6.7%.
• Tenure of 15 months but less than 18 months – Rate cut to 6.6% from the previous 6.8%.
• Tenure of 18 months to 2 years – Rate cut to 6.85% from the previous 7.05%.
• Tenure of 2 years 1 day to 5 years – Rate cut by 15 bps to 6.75% from the previous 6.90%.
• Tenure of 5 years 1 day to 10 years – Rate cut to 6.7% from the previous 6.8%.
• Tax saving FDs – Rate cut to 6.75% from the previous 6.9%.

Revised FD Interest Rate For Senior Citizens 

ICICI Bank has revised its FD interest rate for senior citizens. After revision, they will get an FD interest rate between 3.5% to 7.35% for FDs with amounts lower than ₹3 crore. An FD tenure of 18 months to 2 years will fetch the highest FD interest rate of 7.35%.