ICICI Bank Fixed Deposit Update 2026: ICICI Bank has revised interest rates on selected long-term fixed deposits, offering higher returns to customers planning to invest their savings for several years. According to the latest reported changes, the private sector lender has increased interest rates by 10 basis points on certain fixed deposits below ₹3 crore.

Following the revision, regular customers can earn up to 6.60% annual interest on eligible deposits, while senior citizens can receive rates as high as 7.20%, depending on the investment tenure.

The increase applies to selected deposits with maturities exceeding two years, including the bank's five-year tax-saving fixed deposit scheme.

Although the rate increase is relatively small, its impact becomes more noticeable when customers invest larger amounts for longer periods. Here is a detailed look at the revised interest rates and the potential maturity value of a ₹5 lakh fixed deposit.

ICICI Bank Raises Interest Rates on Long-Term FDs

The bank has increased interest rates by 0.10 percentage points on several longer-duration fixed deposits.

For regular customers, deposits maturing between two years and one day and three years now offer 6.55% annually, compared with the earlier rate of 6.45%.

Similarly, deposits with tenures exceeding three years and extending up to ten years now provide 6.60% interest, against the previous 6.50%.

The five-year tax-saving FD has also received a similar increase.

Here is a comparison of the reported changes.

These rates apply to eligible domestic fixed deposits below ₹3 crore, subject to the bank's terms.

ICICI Bank FD Interest Rates for Regular Customers

Customers interested in shorter-duration deposits can also compare the bank's reported rates across different maturity periods.

Investors should select a deposit tenure according to their financial requirements rather than focusing only on the highest interest rate.

Senior Citizens Can Earn Up to 7.20% Interest

ICICI Bank offers additional interest benefits to eligible senior citizen depositors.

Following the reported revision, senior citizens can earn 7.05% on deposits maturing between two years and one day and three years.

For deposits exceeding three years and extending up to five years, the rate has increased to 7.20%.

The five-year tax-saving FD also offers 7.20% for eligible senior citizens.

Meanwhile, deposits with maturities exceeding five years and extending up to ten years carry an annual interest rate of 7.10%.

These higher rates can help eligible retired individuals generate additional interest income from their savings.

₹5 Lakh FD Calculator: How Much Will Regular Customers Receive?

The impact of the revised interest rates can be understood by examining the maturity value of a ₹5 lakh investment.

The following figures are based on the illustrative calculations provided in the source report, assuming quarterly compounding and returns before tax.

A customer investing ₹5 lakh for three years at the revised rate of 6.55% could receive approximately ₹6.08 lakh at maturity under the reported illustration.

For a five-year deposit, the maturity amount could increase to around ₹6.94 lakh.

The difference becomes more substantial over ten years, where the reported maturity value reaches approximately ₹9.62 lakh.

The actual amount payable will depend on the bank's deposit calculation method, applicable rate, maturity date and product terms.

Senior Citizen FD Calculator: Returns on ₹5 Lakh

Senior citizens can benefit from higher interest rates on eligible deposits.

Here is how the reported maturity amounts compare before and after the revision.

Under the source report's illustration, a senior citizen investing ₹5 lakh for five years at 7.20% could receive approximately ₹7.14 lakh at maturity.

For a ten-year deposit carrying 7.10% interest, the reported maturity value exceeds ₹10 lakh.

This means the original ₹5 lakh investment could approximately double over the ten-year period under the assumed compounding method.

How Much Extra Interest Does the Rate Increase Provide?

A 10-basis-point increase means the annual interest rate rises by 0.10 percentage points.

For example, an interest rate moving from 6.50% to 6.60% represents a 10-basis-point increase.

While the change may appear small, compounding allows additional interest to accumulate over time.

The longer the investment remains deposited, the greater the potential impact of the higher rate.

However, customers should remember that a revised FD rate generally applies to newly booked deposits and eligible renewals. Existing fixed deposits normally continue earning the contracted rate until maturity unless specific product terms provide otherwise.

What Are the Benefits of a Five-Year Tax-Saving FD?

ICICI Bank's five-year tax-saving fixed deposit has also received a reported interest rate increase.

Such deposits are designed for individuals seeking eligible deductions under Section 80C of the Income-tax Act, subject to applicable tax rules.

However, Section 80C deductions are generally relevant to taxpayers using the old tax regime, and eligibility depends on the rules applicable for the relevant tax year.

Tax-saving FDs have a mandatory five-year lock-in period, and premature withdrawal is generally not permitted.

The maximum eligible deduction under Section 80C is subject to the statutory overall limit.

Investors should also remember that interest earned on tax-saving FDs is generally taxable according to applicable income-tax provisions.

Important Things to Check Before Opening an ICICI Bank FD

Before investing, customers should compare interest rates across different deposit durations.

A longer tenure does not necessarily guarantee a better rate, as banks may offer different returns for specific maturity periods.

Investors should also review premature withdrawal penalties, interest payout options, automatic renewal instructions and tax implications.

For deposits intended to meet regular household expenses, monthly or quarterly interest payout options may be more appropriate than cumulative deposits, depending on the investor's needs.

Bank deposits are also subject to deposit insurance limits. In India, eligible deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh per depositor per insured bank, including principal and interest, subject to applicable rules.

Where to Check the Latest ICICI Bank FD Rates

Customers can verify current interest rates, eligibility requirements and deposit terms through the official ICICI Bank website or their nearest bank branch.

Since banks can revise fixed deposit rates periodically, checking the applicable rate on the actual booking date is important.

The latest reported increase offers a modest improvement for customers planning long-term deposits.

For regular depositors, eligible long-term rates now reach 6.60%, while senior citizens can earn up to 7.20% on selected tenures.

The increase may provide additional interest income, particularly for investors who prefer holding deposits for several years.

Source Credit: Moneycontrol Hindi, report by Sushmit Sinha, updated October 30, 2026. Fixed deposit rate revisions and illustrative maturity calculations attributed to ICICI Bank information reported in the original article.

Official Website: ICICI Bank

Disclaimer: Interest rates and calculations are based on the supplied news report and have not been independently confirmed against a current bank rate sheet. Illustrative maturity values may differ from actual bank calculations. FD interest is subject to applicable taxes, and investors should verify the latest rates and terms directly with ICICI Bank before opening a deposit.