Private sector lender ICICI Bank today revised interest rate on fixed deposit or FD rates. This comes days after the Reserve Bank of India (RBI) cut interest rate for the fourth time this year. ICICI Bank offers fixed deposits from maturities ranging from 7 days to 10 years. Senior citizens continue to get 50 bps higher interest rates than the general public. According to the latest ICICI Bank FD rates, the bank is offering 4% interest rate on short-term deposits between 7 days and 14 days.

The interest rate on FDs go up as the duration increases. For 15 days to 29 days maturity FDs, ICICI Bank is offering 4.25%, 30 days to 45 days 5.25%, 46 days to 60 days 5.75%, 61 days to 90 days 5.75%, 91 days to 120 days 5.75%, 185 days to 289 days 6.25% and 290 days to less than 1 year 6.50%.

For FDs between 1 year to 389 days, ICICI Bank is offering 6.70%, 390 days to less than 18 months 6.80%, 18 months to 2 years 7.10%, 2 years 1 day up to 3 years 7.10%, 3 years 1 day up to 5 years 7.00%, and 5 years 1 day up to 10 years 7.00%.

ICICI Bank’s latest FD interest rates for general public (effective August 14)

7 days to 14 days 4.00%

15 days to 29 days 4.25%

30 days to 45 days 5.25%

46 days to 60 days 5.75%

61 days to 90 days 5.75%

91 days to 120 days 5.75%

121 days to 184 days 5.75%

185 days to 289 days 6.25%

290 days to less than 1 year 6.50%

1 year to 389 days 6.70%

390 days to less than 18 months 6.80%

18 months to 2 years 7.10%

2 years 1 day upto 3 years 7.10%

3 years 1 day upto 5 years 7%

5 years 1 day upto 10 years 7%

5 Years Tax saver FD (Max upto ₹ 1.50 lakh) 7%

According to the latest revision, ICICI Bank’s 5-year tax saver fixed deposits(max up to Rs. 1.50 lakh) will fetch 7.00%.

Many banks including SBI, HDFC Bank, Canara Bank and PNB have revised interest rates on their FDs this month.