If you have a savings account with ICICI Bank, you’ll now earn slightly less. For balances below Rs 50 lakh, the new interest rate is 2.75% per annum, down from 3%. On the other hand, if your account holds Rs 50 lakh or more, the rate has dropped to 3.25% from 3.5%.

The bank has also reduced its FD interest rates across various tenures. It has cut FD interest rates by up to 25 basis points on select tenures. Now, general customers get 3% to 7.05%, while senior citizens earn between 3.5% and 7.55%.

For example, FDs of 30 to 45 days now fetch just 3% for general citizens, down from 3.5%, while the interest rate has been reduced from 4.5% to 4.25% for tenures ranging between 61 and 90-days.

Deposits of 15 to 18 months will now earn 6.8%, compared to the earlier 7.25%. For tenures between 18 months and 2 years, the rate has been cut to 7.05% from the earlier 7.25%.

However, senior citizens continue to receive slightly higher interest rates across all durations. For instance, senior citizens earn 3.5% for tenure between 7 to 29 days, while for 46 to 60 days, 61 to 90 days, 91 to 184 days, 185 to 270 days, the revised interest rate stands at 4.75%, 4.75%, 5.25%, and 6.25%, respectively.