At the same time, it said, a savings bank account with a deposit over Rs 50 lakh but less than Rs 2 crore will fetch 3.75 percent, from the current rate of 4 percent. The moderation in the interest rate on savings bank account follows the rate reduction on both lending and term deposit side by a host of banks recently. Apr 01, 2020 ICICI Bank NSE -3.20% on Wednesday cut interest rates on savings accounts by 25 basis points for deposits up to Rs 2 crore. The new rates will be effective from April 8, ICICI Bank said in a regulatory filing. Savings bank accounts with deposits up to Rs 50 lakh will earn 3.25 per cent interest as against existing 3.5 per cent, it said.
Icici Bank Savings Account Interest Rate Calculator
ICICI BANK UK PLC – We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268).
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank is unable to meet its financial obligations. Most depositors – including most individuals and businesses – are covered by the scheme.
In respect of deposits, from 30 January 2017, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with us including their share of any joint account, and not to each separate account.
For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website or call the FSCS on 0800 678 1100 or 020 7741 4100. Please note only compensation related queries should be directed to the FSCS.
ICICI Bank interest rate: ICICI Bank has cut the interest rate on saving deposits by 25 basis points (bps). The new rates will come into effect from June 4, i.e Thursday, ICICI Bank said.
The private sector lender has cut the interest rate on all deposits of less than Rs 50 lakh to 3 percent, a reduction of by 25 bps against the existing 3.25 percent. For deposits of Rs 50 lakh and above, the account holders will earn an interest of 3.50 percent, down from 3.75 percent currently.
In the meantime, the State Bank of India (SBI) has also reduced its savings deposit interest rate by 5 basis points (bps) to 2.7%. Flush with liquidity and comparatively less demand for loans due to the lockdown, most lenders have resorted to lowering deposit rates.
SBI Chairman Rajnish Kumar has already said that in the current scenario, interest rates are going to reduce. “The reduction in interest rates will be for both borrowers and depositors,” Kumar said recently.
SBI, on May 27, had slashed its retail term deposit rates by up to 40 bps across all tenors.
For deposits maturing in seven days to 45 days, SBI is offering an interest rate of 2.90 percent as against 3.30 percent earlier. It revised the rate for fixed deposits in 180 days to 210 days bracket to 4.40 percent from 4.80 percent earlier.
The interest rate for deposits maturing in 5 years to 10 years has been cut to 5.40 percent from 5.70 percent earlier. The bank has also cut interest rates for bulk deposits ( ₹2 crores and above) by up to 50 basis points.
ICICI Bank has also announced that it has extended the moratorium on its loans and credit card dues.
Icici Bank Fd Interest Rate
Customers need to apply to avail of the benefits of the moratorium. If they fail to apply, loan installments will continue to be debited every month as per the existing process, the bank said.
The moratorium facility will be granted for up to a period of three months, for all loans/facilities falling due for payments between June 1, 2020, and August 31, 2020.