ICICI Bank, Yes Bank revise their Fixed Deposit (FD) rates: Check new rates here

Most banks are revising their fixed deposit rates for different tenures in a bid to beat the rising inflation. ICICI Bank and Yes Bank are the latest banks to tweak their fixed deposit rates. As per ICICI Bank’s website, the bank will now offer an interest rate ranging from 3.75 per cent to 6.25 per cent on FD schemes of 7 days to 10 years. The maximum interest rate that the bank is offering is 6.50 per cent. The rates have been updated for schemes for Rs 2 crore to Rs 5 crore

As per Yes Bank’s updates, the maximum interest rate the bank is offering is 6.75 per cent for general investors and 7.50 per cent for senior citizens on certain schemes below Rs 2 crore.

Term deposits or fixed deposits are one of the most popular investment tools. But the number of bank deposits in the overall financial assets has been going down since the pandemic as investors are looking to earn more from their investments.

ICICI Bank 

The bank has said it will offer an interest rate of 3.75 per cent for the first slab of 7 days to 29 days. For 30 days to 45 days, it will offer an interest rate of 4.75 per cent, while for 46 days to 60 days, it is offering 5.00 per cent rate of interest. For schemes of 61 days to 90 days, the interest rate has been fixed to 5.25 per cent.

For schemes of 91 days to 184 days, investors can get an interest rate of 5.50 per cent, while for 185 days to 270 days, the interest rate is 5.75 per cent.

For 271 days to less than 1-year schemes, ICICI Bank is offering an interest rate of 6.00 per cent, whereas for 1 year to 3 years, it is 6.50 per cent. For deposits maturing in 3 years 1 day to 10 years, investors can now get an attractive interest rate of 6.25 per cent.

YES Bank 

For fixed deposit schemes of 7 days to 14 days, YES bank is offering an interest rate of 3.25 per cent, for 15 days to 45 days, the interest rate is 3.70 per cent. For deposits of 46 days to 90 days, investors can now fetch a rate of 4.10 per cent, whereas for 91 days to 180 days, they can get a revised interest rate of 4.75 per cent.

For the next slab, 181 days to 271 days, YES bank is offering an interest rate of 5.50 per cent. An interest rate of 5.75 per cent is being offered on those schemes maturing in 272 days to 1 year.

On FD schemes of 1 year to 18 months, the bank is offering an interest rate of 6.50 per cent, whereas for 18 months to 120 months, it will pay an interest rate of 6.75 per cent.

Besides, the bank has also launched a special fixed deposit for retail investors last month (October), wherein general investors can get an interest rate of 7.25 per cent for a tenure of 20 to 22 months. Senior citizens can earn a little more and get an interest rate of 7.75 per cent for the same tenor.