ICICI Bank cuts fixed deposit rates by up to 0.50%: Check new FD rates here

New Delhi: ICICI Bank has slashed the fixed deposit (FD) rates across various tenors by up to 50 basis points. The new rates will be effective May 11.

The customers will now get 5.25 per cent interest on deposits up to one year, while those above one year will earn 5.7 per cent to 5.75 per cent, ICICI Bank said on its website.

Following is the table on FD rates as per the bank’s website:

The bank reported a 6.91 per cent growth in March quarter net profit at Rs 1,251 crore on a consolidated basis, after setting aside over Rs 2,000 crore in provisions for potential impact of the COVID-19 pandemic over and above RBI’s requirements.

On a standalone basis, the second largest private sector bank’s profit grew 26 per cent to Rs 1,221 crore as against Rs 969 crore in the year-ago period.
For the fiscal year 2019-20, it reported a 135 per cent jump in standalone profit to Rs 7,930.81 crore.