How Much Have ICICI FD Interest Rates Changed Since 2023?

ICICI Bank is one of the most popular banks in India and is known for providing a diverse range of banking services and facilities. Among its premium offerings is the Fixed Deposit (FD) facility, which provides a secure way to grow savings. FD interest rates, however, are subject to periodic changes based on policy updates and revisions mandated by the Reserve Bank of India (RBI).

Read to know about the ICICI FD interest rate 2023 and 2025 comparison to know about how the rates have changed over the past 2 years.

Revised ICICI FD Interest Rate 2023 - 2025

According to the revised policy decisions from the Reserve Bank of India, ICICI Bank has incorporated changes in their interest rates for Fixed Deposits since the year 2023. Here is a comparison chart showcasing the changed interest rates for the year 2023 vs 2025:

The table provided above only lists the revised changes to the interest rates from 2023 till now (2025). However, there have also been a few revisions made to the tenure for the Fixed Deposit scheme at ICICI Bank in 2025. You can conduct a more thorough comparison of the changes made to FD tenures of 2025 from 2023.

Why Do Banks Make Changes to Interest Rates of Fixed Deposits?

Here are some of the factors that affect the ICICI FD interest rate 2023 changes:

• Demand of Credit: When the demand for loans rises, banks need more funds to lend. To attract more deposits, they increase FD interest rates. Conversely, when loan demand decreases, FD rates may be lowered.
• Drop in Cost of Fund: Banks' funding costs fluctuate based on multiple factors. If the cost of acquiring funds drops, banks reduce FD rates. However, if funding costs rise, banks increase FD rates to maintain profitability.
• Economic Conditions: Factors like employment rates, financial patterns and GDP growth play a major role in determining the interest rates of FDs. 
• Liquidity in the Banking System: The amount of available cash in the banking system directly affects FD rates. When there is liquidity in banks, they are less dependent on deposits made from customers and this increases the FD rates.
• Inflation Rates: When there is high inflation RBI increases the repo rate. This is the rate at which the banks borrow from the RBI. During high inflation, the RBI raises repo rates, leading banks to offer higher FD interest rates. When inflation is low, banks typically reduce FD rates.

Final Words

Interest rate fluctuations are common and have been consistent in the past. By knowing about the comparison of ICICI FD interest rate 2023 vs 2025, you will be able to make informed decisions regarding investing in FDs with their bank.

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