According to reports, ICICI Bank has decided to revise rates for deposits of over Rs 1 crore by 0.25 per cent. The new rates would come into an effect from coming Monday.
Banks have also revised the Fixed Deposits rate of 121-150 days’ maturity to 8% from 8.25% earlier.
Earlier this month, Axis Bank has also reduced the fixed deposit rates by up to 25 bps across various maturities. Similarly, the rates have been decreased to 8.50% for deposits up to 18 months.
Term deposit between 61-90 days for high value fixed deposit that is over Rs 5 crore has been lowered to 8 per cent which was 8.25 per cent earlier.