ICICI Home Finance FD Rate Hike: Banks and non-financial institutions have been offering their customers higher interest rates on Savings Account and Fixed Deposit Scheme for some time now. Now the name of the country’s largest non-banking financial company (NBFC) has also been added to this list. This NBFC is ICICI Home Finance. This financial institution has announced an increase in the interest rates of its FDs. This new interest rate has come into effect from 13 July 2022.
Reserve Bank of India has increased the repo rate twice in the month of May and June to check the rising inflation in the country. Since then, all banks and non-banking financial institutions are continuously offering higher interest rates on their FD and savings accounts. In ICICI Home Finance, customers can invest in FDs of 12 to 120 months. It offers the customers interest rates ranging from 5.25% to 6.95% on an annual basis in this tenure. So let’s know about the interest rate offered in ICICI Home Finance-
ICICI Home Finance is paying so much interest-
- 12 to 18 months – 5.25%
- 18 to 24 months – 6.00%
- 24 to 36 months – 6.50%
- 36 to 60 months – 6.70%
- 60 to 84 months – 6.90%
- 84 to 120 months – 6.95%
Getting so much interest on senior citizens
Let us tell you that this financial institution offers different interest rates to the people on the basis of month, three months and yearly. It offers 0.25% higher interest rate than the general public. Along with this, the customer can take a loan on this FD on 75 percent of the deposit amount.