ICICI Bank has revised its interest rates on bulk fixed deposits (FDs) of more than ₹2 Cr to less than ₹2 Cr. Following the change, the bank now offers interest rates ranging from 4.75% to 6.75% on terms ranging from 7 days to 10 years. Deposits maturing in one year to fifteen months now have a maximum return of 7.25%. According to the bank’s official website, the new bulk FD rates are effective today, May 20, 2023.
ICICI Bank has revised its interest rates on bulk fixed deposits (FDs) of more than ₹2 Cr to less than ₹2 Cr. Following the change, the bank now offers interest rates ranging from 4.75% to 6.75% on terms ranging from 7 days to 10 years. Deposits maturing in one year to fifteen months now have a maximum return of 7.25%. According to the bank’s official website, the new bulk FD rates are effective today, May 20, 2023.
ICICI Bank Bulk FD Rates
On deposits maturing in 7 days to 29 days, the bank is offering an interest rate of 4.75% and on those maturing in 30 days to 45 days, ICICI Bank is offering an interest rate of 5.50%. ICICI Bank is offering an interest rate of 5.75% on a deposit tenor of 46 days to 60 days and an interest rate of 6.00% on a deposit tenor of 61 days to 90 days. Deposits maturing in 91 days to 184 days will now fetch an interest rate of 6.50% and those maturing in 185 days to 270 days will fetch an interest rate of 6.65%.
ICICI Bank Bulk FD Rates
On deposits maturing in 7 days to 29 days, the bank is offering an interest rate of 4.75% and on those maturing in 30 days to 45 days, ICICI Bank is offering an interest rate of 5.50%. ICICI Bank is offering an interest rate of 5.75% on a deposit tenor of 46 days to 60 days and an interest rate of 6.00% on a deposit tenor of 61 days to 90 days. Deposits maturing in 91 days to 184 days will now fetch an interest rate of 6.50% and those maturing in 185 days to 270 days will fetch an interest rate of 6.65%.
On bulk deposits maturing in 271 days to less than 1 year, the bank is offering an interest rate of 6.75% and on those maturing in 1 year to 15 months, ICICI Bank is now offering an interest rate of 7.25%. ICICI Bank is now offering an interest rate of 7% on a deposit tenor of 15 months to 2 years and an interest rate of 6.75% on those maturing in 2 years 1 day to 10 years.
On bulk deposits maturing in 271 days to less than 1 year, the bank is offering an interest rate of 6.75% and on those maturing in 1 year to 15 months, ICICI Bank is now offering an interest rate of 7.25%. ICICI Bank is now offering an interest rate of 7% on a deposit tenor of 15 months to 2 years and an interest rate of 6.75% on those maturing in 2 years 1 day to 10 years.
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The bank’s consolidated net income was ₹53,922.75 Cr in Q4FY23, up 25.88% year on year from ₹42,834.06 Cr in Q4FY22. ICICI Bank reported net expenses of ₹38,716.56 Cr for the quarter ending March 2023, compared to ₹31,306.02 Cr in the same period of the previous fiscal year.
The bank’s consolidated net income was ₹53,922.75 Cr in Q4FY23, up 25.88% year on year from ₹42,834.06 Cr in Q4FY22. ICICI Bank reported net expenses of ₹38,716.56 Cr for the quarter ending March 2023, compared to ₹31,306.02 Cr in the same period of the previous fiscal year.
During the quarter under review, the bank’s operating profit (profit before provisions and contingencies) was ₹15,206.19 Cr, up 31.90% year on year from ₹31,306.02 Cr in the same quarter of FY22. ICICI Bank’s consolidated net profit was ₹9,122 Cr in Q4FY23, up 30% from ₹7018.71 Cr in Q4FY22. In Q4FY23, ICICI Bank’s EPS was ₹13.84, up from ₹10.88 in Q4FY22.
During the quarter under review, the bank’s operating profit (profit before provisions and contingencies) was ₹15,206.19 Cr, up 31.90% year on year from ₹31,306.02 Cr in the same quarter of FY22. ICICI Bank’s consolidated net profit was ₹9,122 Cr in Q4FY23, up 30% from ₹7018.71 Cr in Q4FY22. In Q4FY23, ICICI Bank’s EPS was ₹13.84, up from ₹10.88 in Q4FY22.
ICICI Bank said that total deposits increased 10.9% year on year to ₹1,180,841 crore for the March 31, 2023 quarter, with an average CASA ratio of 43.6%. The domestic loan portfolio increased by 20.5% year on year, while the net NPA ratio fell to 0.48% in Q4FY23, down from 0.55% in Q3FY23.
ICICI Bank said that total deposits increased 10.9% year on year to ₹1,180,841 crore for the March 31, 2023 quarter, with an average CASA ratio of 43.6%. The domestic loan portfolio increased by 20.5% year on year, while the net NPA ratio fell to 0.48% in Q4FY23, down from 0.55% in Q3FY23.
ICICI Bank said that its gross NPA ratio fell to 2.81% in Q4FY23, down from 3.07% in Q3FY23, and that net non-performing assets fell by 25.9% year on year and 8.8% sequentially to ₹5,155 crore. Net interest income (NII) increased by 40.2% year on year in Q4-2023 to ₹17,667 crore from ₹12,605 crore in Q4-2022.
ICICI Bank said that its gross NPA ratio fell to 2.81% in Q4FY23, down from 3.07% in Q3FY23, and that net non-performing assets fell by 25.9% year on year and 8.8% sequentially to ₹5,155 crore. Net interest income (NII) increased by 40.2% year on year in Q4-2023 to ₹17,667 crore from ₹12,605 crore in Q4-2022.
