ICICI Bank has slashed interest rates on fixed deposits on selected tenors with effect on October 21. The bank offers interest rates on deposits maturing in 7 days to 10 years. The new and revised interest rates for general category depositors are:
ICICI Bank latest FD interest rates (on deposits below Rs 2 crore) for senior citizens: The interest rates for senior citizens range from 3% for 7 days of maturity to 6.3% for 5-10 years.
As per the bank, the Fixed Deposit does not have premature withdrawal facility i.e. the FDs cannot be closed by the depositor before the expiry of the term of such deposit. However, the bank may allow premature withdrawal of these deposits in following exceptional circumstances: in the event of any direction from any statutory and/or regulatory authority or deceased claim settlement cases.
Under these circumstances, the bank will not pay any interest on the principal amount of the deposit. Any interest credited or paid up to the date of such premature closure will be recovered from the deposit amount.
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