ICICI Bank cuts bulk deposit rates by up to 0.55%

New Delhi: Private sector ICICI Bank has cut interest rate on fixed deposit rates by up to 0.55 percent on bulk deposit rates of over Rs 1 crore.

The downward rate revision is between 0.10 percent and 0.55 percent 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 percent interest rate while 46-60 days fixed deposit will earn 6.50 percent.

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