FD Rates: This bank has reduced the interest on FD, if you are thinking of investing money then first check the latest rate..

Recently, the Reserve Bank of India (RBI) has cut the repo rate by 50 basis points. After this, private sector ICICI Bank has taken a big step and announced a cut in FD rates. With this, it has become the first major private bank to cut interest rates on fixed deposits (FD). The new interest rates have come into effect from 9 June 2025. Let us tell you that this cut is only for a select period on deposits less than Rs 3 crore.

ICICI Bank is now giving interest ranging from 3% to 6.6% to common citizens. On the other hand, this rate for senior citizens is between 3.5% to 7.1%. Let us tell you that till now the bank was offering the highest interest of 6.85% to general customers and 7.3% to senior citizens for a period of 18 months to 2 years.

What are the rates for which period?
After this reduction, the interest rate for the period of 46 to 90 days has been reduced from 4.25% to 4%. On the other hand, the bank is giving 4.5% interest on FDs of 91 to 184 days, which was 4.75% earlier. Apart from this, the interest rate on FDs of 185 to 270 days has been reduced from 5.75% to 5.5%. For 271 days to less than 1 year, the interest rate has been reduced from 6% to 5.75%.

For 1 year to less than 15 months, the bank is offering an interest rate reduced from 6.5% to 6.25%. On the other hand, FDs of 15 to 18 months will now get 6.5 percent interest, which was earlier 6.6%-6.85%. Apart from this, the bank has reduced the interest on FDs from 2 years 1 day to 5 years from 6.75% to 6.6%. If you make a tax-saving FD of 5 years 1 day to 10 years or 5 years, then now you will get 6.6% interest on it.

Total 1% cut in repo rate
RBI reduced the repo rate by 0.5% more than expected to 5.5%. With this cut, RBI has cut the repo rate by a total of 1% since February this year. In the monetary policy review of February and April this year, the repo rate was cut by 0.25-0.25%. RBI made the first cut after May 2020 in February.

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