ICICI Bank hikes rates on fixed deposits

Private lender ICICI Bank on Friday raised interest rates on fixed deposits by 0.25-0.75 percentage points, mainly on short-term deposits.

The deposit rate for the 46-60 days tenure has been hiked by 0.75 percentage points to 7 per cent, while deposits in the 61-289 days tenure the interest rate is up by 0.75 percentage points to 7.75 per cent. One year to 389 day deposit rate has been hiked by 0.50 percentage points to 8 per cent. Five-year deposit rate has been hiked by 0.25 percentage points to 8 per cent.

The bank, however, kept its benchmark lending rate or base rate unchanged at 9.75 per cent.