ICICI Senior Citizen FD Rates 2025

ICICI Bank senior citizen FD rates are 0.50% higher than the normal rates, providing higher interest for senior citizens. Senior citizens can choose from a wide range of tenures, from 7 days to 10 years. The interest rates range from 3.50% to 7.35%, based on the deposit amount and tenure selected.

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6.5%**

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(5-10 Years)

7.1%***

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(15 Years)

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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 FD for senior citizens, which comes with a 5-year lock-in period and allows tax deduction benefits under Section 80C of the Income Tax Act.

ICICI Bank offers flexible payout options for senior citizens, monthly, quarterly, semi-annual, or cumulatively. Those who prefer regular earnings can choose periodic payouts, while others can go for the cumulative option to receive the total interest at maturity. To see the latest returns on these deposits, you can check the current ICICI Bank FD interest rates.

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Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
7.1% (TAX-FREE)
Returns After Tax
7.1%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
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*For annual premium upto ₹5 Lacs

Key Benefits of ICICI Bank Senior Citizen FD

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.
  • 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 (Reinvestment), where interest is added to the deposit every quarter and paid in full at maturity. This flexibility helps senior citizens choose a payout method that suits their income needs.
  • 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). This helps senior citizens earn better returns while keeping their money accessible.
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ICICI Bank FD Rates for Senior Citizens

Below are the ICICI Bank Fixed Deposit interest rates across different tenures for senior citizens:

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

Tenure Senior Citizen Rate (% p.a.)
7 to 45 Days 3.50
46 to 90 Days 4.75
91 to 184 Days 5.25
185 to 270 Days 6.25
271 Days to less than 1 Year 6.50
1 Year to less than 15 Months 7.00
15 Months to less than 18 Months 7.10
18 Months to 2 Years 7.35
2 Years 1 Day to 5 Years 7.25
5 Years 1 Day to 10 Years 7.20
5Y (Tax Saver FD) 7.25

*ICICI Bank FD interest rates w.e.f. June 4, 2025

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

Tenure Senior Citizen Rate (% p.a.)
7 to 29 Days 4.50
30 to 45 Days 5.50
46 to 60 Days 5.50
61 to 90 Days 5.50
91 to 120 Days 6.00
121 to 184 Days 6.25
185 to 270 Days 6.25
271 Days to less than 1 Year 6.50
1 Year to 389 Days 6.60
390 Days to less than 15 Months 6.60
15 Months to less than 18 Months 6.70
18 Months to 2 Years 7.35
2 Years 1 Day to 5 Years 7.25
5 Years 1 Day to 10 Years 7.20

*ICICI Bank FD interest rates w.e.f. June 4, 2025

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

Tenure Senior Citizen Rate (% p.a.)
7 to 29 Days 4.50
30 to 45 Days 5.50
46 to 60 Days 5.50
61 to 90 Days 5.50
91 to 120 Days 6.00
121 to 184 Days 6.25
185 to 270 Days 6.40
271 Days to less than 1 Year 6.50
1 Year to 389 Days 7.00
390 Days to less than 15 Months 7.00
15 Months to less than 18 Months 7.10
18 Months to 2 Years 7.35
2 Years 1 Day to 5 Years 6.75
5 Years 1 Day to 10 Years 6.70

*ICICI Bank FD interest rates w.e.f. June 4, 2025

FD interest rates India have fallen consistently over the last 12 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years

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:

    • Log in to your ICICI Bank account through Internet Banking or the iMobile Pay app.
    • Go to the “Accounts & Deposits” section and select “Open Fixed Deposit.”
    • Enter the deposit amount and select the desired tenure.
    • Choose “Senior Citizen FD” and select your interest payout mode – cumulative or regular.
    • Provide nominee details, review the information, and confirm.
    • 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:

    • Visit the nearest ICICI Bank branch.
    • Request and fill out the Fixed Deposit application form.
    • Submit valid age proof (like Aadhaar, PAN, or Voter ID), one passport-size photo, and your ICICI account details.
    • Make the deposit via cash or cheque.
    • Once processed, the bank will provide a receipt confirming FD creation.
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Taxation on ICICI Bank Senior Citizen FD Interest

Interest earned on ICICI Bank Senior Citizen Fixed Deposits is fully taxable and added to your total income under the Income Tax Act. It is taxed according to your applicable income slab. From April 1, 2025, TDS is deducted only if the total interest earned in a financial year exceeds ₹1 lakh. If your income is below the taxable limit, you can submit Form 15H to avoid TDS. Senior citizens are also eligible for a deduction of up to ₹50,000 under Section 80TTB on interest income from bank and post office deposits. ICICI Bank's Tax-Saver FD qualifies for deduction under Section 80C, but the interest earned on it remains taxable.

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*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Key Takeaways

The ICICI Senior Citizen FD provides higher interest rates compared to regular fixed deposits, with rates varying based on tenure, deposit amount, and type, callable or non-callable. It offers flexible interest payout 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. 

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FAQs

  •  Can I get a loan against my ICICI Bank Senior Citizen FD?

    Yes, ICICI Bank allows you to take a loan up to 90% of your FD amount. In case of default, a penal charge of 5% per annum is applied on the overdue or overdrawn amount from the due date until full repayment, along with applicable taxes.
  •  What is the minimum age to open a Senior Citizen FD with ICICI Bank?

    To open a Senior Citizen FD with ICICI Bank, the depositor must be at least 60 years old at the time of account opening.
  • How much additional interest do senior citizens get on ICICI Bank FDs?

    Senior citizens earn 0.50% higher interest than regular FD rates, depending on the tenure and deposit amount.
  •  Can senior citizens submit Form 15H to avoid TDS on ICICI Bank FD interest?

    Yes, senior citizens can submit Form 15H to ICICI Bank to avoid TDS (Tax Deducted at Source) if their total income is below the taxable limit for the financial year. This helps ensure that no tax is deducted from the FD interest earned.

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* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)
** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens).
*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
## The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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