ICICI Bank announced on Tuesday a cut in interest rates on retail domestic deposits by 0.25 to 1 per cent for various maturities effective from Thursday.

The move is in line with the prevailing easy liquidity position and declining interest rate trends in the market, a bank spokesperson said.

For deposits up to Rs 15 lakh (Rs 1.5 million), the new rates for maturity between 15 and 45 days would be 3 per cent against 3.5 per cent, up to 60 days it will 3.5 per cent (4.5 per cent), up to 3 months it will be 4 per cent (4.5 per cent).

The interest rate for deposits up to six months would be 5.25 per cent (5.5 per cent), up to one year 5.5 per cent (5.75 per cent), up to two years 5.75 per cent and two-10 year period six per cent (6.25 per cent), the bank said in Mumbai.

The new rates would be applicable to renewals and fresh deposits on or after that date.

The bank had last cut the interest rates by 0.25 to 0.5 per cent in January last.