ICICI Bank to reduce FD Interest Rates from August 17, 2009
I am writing this post to inform you about the Interest Rates reduction by ICICI Bank in this month. ICICI Bank announced that it offers 8.65% interest rates to the new customesr if they are opening till August 16, 2009. The rates will be reduced with effect from August 17, 2009. If you have plan to open up the fixed deposit in ICICI Bank, please do it before August 16, 2009. The following are the special interest rates till that date.
|
Limited Period Offer (w.e.f. August 11, 2009)
|
| Tenure |
Ticket Slab |
Annual/Cumulative |
| 30 months |
> = Rs. 1 Lakh |
< = Rs. 1 cr |
8.65% |
| 45 months |
> = Rs. 1 Lakh |
< = Rs. 1 cr |
8.40% |
|
0.35% additional for Senior Citizens
|
|
|
Special Scheme Rates (w.e.f. July 7, 2009)
|
| Tenure |
Ticket Slab |
Annual/Cumulative |
Quarterly |
Monthly |
| 15 months |
< = Rs. 1 cr |
7.75% |
7.55%
|
7.50% |
| 30 months |
< = Rs. 1 cr |
8.50% |
8.25% |
8.20% |
| 45 months |
< = Rs. 1 cr |
8.25%
|
8.00% |
7.95% |
|
0.35% additional for Senior Citizens
|
|
|
|
|
|
|
Base Scheme Rates (w.e.f. July 7, 2009)
|
| Tenure |
Ticket Slab |
Annual/Cumulative |
Quarterly |
Monthly |
| 12 – 23 months |
< = Rs. 1 cr |
7.60% |
7.40% |
7.35% |
| 24 – 35 months |
< = Rs. 1 cr |
7.85% |
7.65%
|
7.60% |
| 36 – 59 months |
< = Rs. 1 cr |
8.15% |
7.90%
|
7.85% |
| 60 – 84 months |
< = Rs. 1 cr |
8.65% |
8.40% |
8.35% |
|
0.25% additional for Senior Citizens
|
|
If you have any doubts please reply in the comments section.
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August 16, 2009 at 4:02 am
I am planning to invest 50 000 in fixed deposit. Suggest me in which bank should i invest. Also can I avail any tax exemption for FD?
August 16, 2009 at 4:09 am
Hello Sundar,
1)You can deposit in any of the banks or companies who are offering the high interest rates.
2)There is tax exemption for the fixed deposit. I have written a detailed article about the Tax Savings Fixed Deposit here:
http://www.thinkplaninvest.com/2009/01/tax-savings-on-term-depsoit-under-section-80c/
I think above article will be useful. If you have more doubts please post it in the comments section.
Thanks,
Krishna