The Live Ahmedabad
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured

The Live Ahmedabad

  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
Ahmedabad Business

ICICI Bank hike Fixed Deposit rates

by TLAteam August 20, 2022August 20, 2022
written by TLAteam August 20, 2022August 20, 2022
ICICI Bank hike Fixed Deposit rates

ICICI Bank raised interest rates on some fixed deposits on Friday effective August 19. The move is consistent with the industry trend of banks are increasing rates in order to attract more deposits to support credit growth.

Business News

ICICI Bank has set the rates on retail fixed deposits ranging from one year to five years between 5.50% and 6.10%, with rates on one-year deposit being 5.50%. The bank will offer an interest rate of 6.05% on bulk deposits of one-year tenure.

While banks’ credit growth stood at 12-15% in June and July, deposit growth is lagging the credit growth. As of fortnight ended July 29, deposits increased by 9.1% YoY to Rs 169.7 trillion, according to RBI data.

Banks are increasing issuances of certificate of deposits (CD) to support credit offtake, with outstanding CD issuances amounting to Rs 2.5 trillion in the fortnight ended July 29, the RBI said in the August bulletin.

The transmission of policy rate hikes is higher for lending rates compared to retail term deposit rates, the RBI observed, adding that since the liquidity in the system has started normalising, banks have started aggressively raising their bulk deposit rates.

AhmedabadAhmedabad cityAhmedabad newsGujaratGujarat governmentGujarat newslatest news
0 comment
previous post
17-year-old wrestler becomes first India win gold medal at Junior World Championships
next post
Sonam Kapoor and Anand Ahuja have been blessed with a baby boy

You may also like

Honda Motorcycle & Scooter India Launches All-New CB750...

May 23, 2025

After Mother Dairy Amul Announces Rs 2 Per...

May 1, 2025

Gold Prices in Ahmedabad Hit One Lakh, Experts...

April 23, 2025

Sensex & Nifty Hit New Peaks, But Global...

January 12, 2024

Ahmedabad set for R‘ERA’ in real estate market;...

December 30, 2023

Ahmedabad traffic police Collects Rs 4.34cr Fine For...

December 10, 2023

WordCamp Ahmedabad 2023: A Celebration of Growth, Learning,...

December 4, 2023

Wakefit Store in Ahmedabad offers free accommodation on...

November 18, 2023

Investment MoUs of Rs 20,000 Cr Signed with...

November 2, 2023

GI Outsourcing Announces its Business Expansion Plans in...

October 31, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Business News

Recent Posts

  • Miss Thailand Suchata Chuangsri Crowned Miss World 2025

    May 31, 2025
  • Indian Tourist Attacked by Tiger in Thailand While Taking Selfie | Watch Video

    May 31, 2025
  • Modi Government Launches ‘1600’ Number Series to Stop Fraud Calls

    May 31, 2025
  • Vibes and Values: Shalmali’s “all good?” Hits the Right Notes

    May 31, 2025
  • Two Youths Killed in Road Accident in Naranpura, Ahmedabad

    May 31, 2025
August 2022
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
293031 
« Jul Sep »
The Live Ahmedabad
Footer Logo
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms of use
  • Advertise with Us
  • Work With Us
  • Contact Us

© 2021 - The Live Ahmedabad. All Rights Reserved.