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ICICI Bank FD rates revised: Senior citizens can earn up to 7.1% interest on fixed deposits
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4 min read | Updated on April 16, 2026, 14:48 IST
SUMMARY
The new rates come, after a slew of lenders across public and private sector, made a revision post the first bi-monthly monetary policy meeting for fiscal year 2026-27.
The private sector lender ICICI Bank revised its FD rates on Thursday, April 16, 2026. Image: Shutterstock
The private sector lender ICICI Bank revised its FD rates on Thursday, April 16, 2026. The new rates come, after a slew of lenders across public and private sector, including the likes of Axis Bank and Bank of Baroda, among others, made a revision post the Reserve Bank of India (RBI) first bi-monthly monetary policy meeting for fiscal year 2026-27.
ICICI Bank announced the new rates for fixed deposits less than ₹3 crore, as well as deposits of ₹3 crore and above.
For FD amounts less than ₹ 3 crore, general category investors will be able to secure the highest interest rate of 6.5% on tenures of 3 years and above. Senior citizens, on the other hand, will be able to lock in a higher rate of interest at the rate of 7.1% per annum on FDs maturing between 3 years 1 day to 5 years.
| Tenure | General Citizen | Senior Citizen |
|---|---|---|
| 7 to 45 Days | 2.75% | 3.25% |
| 46 to 90 Days | 4% | 4.5% |
| 91 to 184 Days | 4.5% | 5% |
| 185 to < 1 Year | 5.5% | 6% |
| 1 Year to < 18 Months | 6.25% | 6.75% |
| 18 Months to 2 Years | 6.3% | 6.8% |
| 2 Years 1 Day to 3 Years | 6.45% | 6.95% |
| 3 Years 1 Day to 5 Years | 6.5% | 7.1% |
| 5 Years 1 Day to 10 Years | 6.5% | 7% |
| 5Y (Tax Saver FD) | 6.5% | 7.1% |
For deposits below ₹5 crore, the highest interest rates available (with premature withdrawal facility) are 6.1% for general citizens and 7% for senior citizens.
| Tenure | With Premature Withdrawal (General Citizen) | With Premature Withdrawal (Senior Citizen) | Without Premature Withdrawal (General Citizen) | Without Premature Withdrawal (Senior Citizen) |
|---|---|---|---|---|
| 7 to 29 Days | 3.5% | 3.5% | 3.5% | 3.5% |
| 30 to 45 Days | 4.25% | 4.25% | 4.25% | 4.25% |
| 46 to 60 Days | 4.5% | 4.5% | 4.5% | 4.5% |
| 61 to 90 Days | 4.75% | 4.75% | 5.4% | 5.4% |
| 91 to 184 Days | 5.25% | 5.25% | 5.9% | 5.9% |
| 185 to 270 Days | 5.5% | 6% | 6.15% | 6.15% |
| 271 Days to < 1 Year | 5.75% | 6% | 6.25% | 6.25% |
| 1 Year to 389 Days | 6.25% | 6.75% | 6.6% | 6.6% |
| 390 Days to < 18 Months | 6.25% | 6.75% | 6.6% | 6.6% |
| 18 Months to 2 Years | 6.3% | 6.8% | 6.6% | 6.6% |
| 2 Years 1 Day to 3 Years | 6.45% | 6.95% | 6.6% | 6.6% |
| 3 Years 1 Day to 5 Years | 6.5% | 7.1% | 6.6% | 6.6% |
| 5 Years 1 Day to 10 Years | 6.5% | 7% | 6.6% | 6.6% |
Should investors lock their funds in FDs in the current scenario?
Given the current rate cycle and the low likelihood of rate cut anytime soon given the current inflationary pressure, CA Yogesh Birla, Director – Birla WP Management Co. pointed out that the time shall be right to lock in FD at the current rate.
He said, “At this point of time locking in a high rate can secure good returns before potential future cuts.”
He added that breaking of old FDs may be recommended only if the new FD rate difference significantly covers the premature withdrawal penalty. Segregation of FDs between nationalised banks and private or small finance banks (which probably offer higher interest rates) may also be part of your decision matrix.
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