ICICI Bank cuts bulk deposit rates by up to 0.55 pc

Private sector ICICI Bank has cut interest rate on fixed deposit rates by up to 0.55 per cent on bulk deposit rates of over Rs 1 crore.

The downward rate revision is between 0.10 per cent and 0.55 per cent on various maturities, as per the revised rate posted on the bank website.

As per the new rate, 7-14 days term deposit will now earn 6 per cent interest rate while 46-60 days fixed deposit will earn 6.50 per cent.

For longer term, the interest rate on 390 days to less than 15 months and 18 months 2 years will be 7.60 per cent and term deposit between 2 years 1 day and 10 years will earn 7.35 per cent.