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Interest Rates & Service Charges - ICICI Bank

Savings Account

How are interest rates calculated?

Savings Bank Account interest is calculated on a daily basis on the daily closing balance in the Account, at the rate specified by ICICI Bank in accordance with Reserve Bank of India directives. The interest amount calculated is rounded off to the nearest rupee. With effect from March 30, 2016, interest will be paid quarterly in March, June, September and December.

With effect from 4th June 2020, the savings account interest rate applicable would be:

For end of day balance below ₹ 50 Lakhs For end of day balance of ₹ 50 lakhs and above
3.00% 3.50%

Marginal Cost of funds based Lending Rate (MCLR)

MCLR effective June 22, 2024
Tenures I-MCLR
Overnight 8.60%
One Months 8.60%
Three Months 8.65%
Six Months 9.00%
One Year 9.10%

RBI Policy Repo Rate and ICICI Bank External Benchmark Lending Rate

RBI Policy Repo Rate effective February 8, 2023 is 6.50%.

"ICICI Bank External Benchmark Lending Rate" (I-EBLR) is referenced to RBI Policy Repo Rate with a mark-up over Repo Rate. I-EBLR is 9.25% p.a.p.m. effective September 30, 2022.

Fee Based Services