ICICI Senior Citizen FD Rates 2025

What is the ICICI Bank Senior Citizen FD?

An ICICI Senior Citizen FD is a special fixed deposit scheme for individuals aged 60 and above, offering higher interest rates than regular FDs. ICICI Bank also offers a Tax Saver Fixed Deposit for Section 80C Deductions for its senior citizens, which comes with a 5-year lock-in period.

ICICI Bank offers attractive FD interest rates with flexible payout options for senior citizens. You can choose to receive regular earnings through monthly, quarterly, or semi-annual payouts. Alternatively, you can opt for a cumulative payout.

ICICI Bank offers a range of benefits to senior citizens. The following are some of the important benefits provided to senior citizens:

• Flexible Tenure Options: Senior citizens can choose deposit periods with ICICI Bank ranging from 7 days to 10 years, depending on their financial needs. 
• Autorenewal Facility: Senior citizens who may find it difficult to visit the branch can opt for automatic FD renewal. The deposit will be renewed at the prevailing interest rate, and they can also give clear instructions about the renewal amount or duration as per their preference.
• Tax Saving Option: This investment allows you to save on your taxes under Section 80C of the Income Tax Act. You can claim a deduction on the amount invested, up to a maximum of ₹1.5 lakh per financial year.
• Interest Payout Options: ICICI Bank offers senior citizens three ways to receive interest: Monthly Payout, where interest is credited every month at a slightly lower rate; Quarterly Payout, where interest is credited every three months; and Cumulative where interest is added to the deposit every quarter and paid in full at maturity.
• Sweep-in and Sweep-out (Money Multiplier): ICICI Bank’s Money Multiplier allows senior citizens to link their ICICI savings account to a fixed deposit. Extra money above ₹10,000 is moved to an FD (sweep-in) to earn higher interest, and if the balance drops, funds are pulled back (sweep-out). 

ICICI Bank FD Rates for Senior Citizens

Below are the tables showing different ICICI Bank senior citizen FD rates across different tenures:

Senior Citizen FD Rates ICICI Bank (Less Than ₹3 Crores)

The table has the ICICI senior citizen FD rates for less than ₹3 Crores :

*ICICI Bank FD interest rates w.e.f. Sept 09, 2025

Senior Citizen FD Rates ICICI Bank For ₹3 Crores to ₹5 Crores (Callable)

The table has the ICICI senior citizen FD rates for ₹3 Crores to ₹5 Crores :

*ICICI Bank FD interest rates w.e.f. Sept 09, 2025

How to Open an ICICI Senior Citizen FD?

Opening an ICICI Senior Citizen Fixed Deposit is simple and convenient. You can open it online or by visiting your nearest ICICI Bank branch.

1. Online Method

   If you have Internet Banking or iMobile Pay access with ICICI Bank:

   • Net Banking and iMobile Application: Log in to your ICICI Bank account using your credentials
   • Search for FD Options: Go to the “Accounts & Deposits” section and select “Open Fixed Deposit.”
   • Enter the Amount: Enter the deposit amount and select the desired tenure.
   • Select Interest Payment Option: Choose “Senior Citizen FD” and select your interest payout mode 
   • Add Nominee: Provide nominee details, review the information, and confirm.
   • Confirmation: Your FD will be opened instantly, and confirmation will be sent via SMS and email.

2. Offline Method

   If you prefer to open it at a branch:

   • Go to the nearest branch: Visit the nearest ICICI Bank branch.
   • Fill Application Form: Request and fill out the Fixed Deposit application form.
   • Submit Documents: Submit valid age proof, one passport-size photo, and your ICICI account details.
   • Make Payment: Deposit cash or a cheque.
   • Collect Receipt: Once processed, the bank will provide a receipt confirming FD creation.

Taxation on ICICI Bank Senior Citizen FD Interest

TDS (Tax Deduction at Source): As of April 1, 2025, banks will only deduct TDS if the total interest you earn in a financial year from all your deposits exceeds ₹1 lakh. The standard rate is 10%.

Tax-Saver FDs: If you invest in a tax-saving FD, you get a tax deduction on the amount you invest under Section 80C, but the interest you earn on it is still taxable.

Key Takeaways

The ICICI Fixed Deposit Interest rates for senior citizens are 0.50% higher compared to regular fixed deposits. It offers flexible interest payout options, an auto-renewal facility, flexible tenure options, and clear terms for premature withdrawal. In callable FDs, premature withdrawal is allowed, while non-callable FDs offer slightly higher interest but cannot be withdrawn before maturity. These features make it a structured and reliable savings choice for senior citizens.