ICICI Bank FD Interest Rates

1. Regular Fixed Deposit by ICICI Bank

• A simple investment policy offers liquidity, safety, assured returns, and flexibility.
• Generally, a regular FD offers a minimum tenure of 7 days and a maximum of 10 years which can be extended only if the bank allows it.
• Open FD account instantly through internet banking or iMobile.
• The facility of overdraft against the fixed deposit is up to 90% of the fixed deposit amount.
• The option of partial or premature withdrawal FD for urgent requirements of funds.
• The minimum deposit amount to open this scheme is Rs.10,000.
• Interest is to be paid at the time of scheme maturity.

Eligibility criteria:

• Individual residents
• Hindu Undivided Families (HUFs)
• Private and Public Companies
• Trusts
• Partnership
• Firms

2. Tax Saving Fixed Deposit

It is a unique fixed deposit product that provides the dual benefit of tax savings and returns. A tax saver fixed deposit provides a tax deduction of up to Rs.1,50,000 under Section 80C of the Income Tax Act. The features of this policy are:

• You can invest as small as Rs.10,000.
• Up to Rs.1,50,000 can be exempted annually under the tax saving FD as per Section 80C of the Income Tax Act.
• A fixed return is guaranteed after the completion of 5 years.
• Flexible payout options for interest are quarterly, monthly, and reinvestment in principal.
• The interest that you earn is taxable.
• The facility of auto-renewal and no premature withdrawal.
• A nomination facility is available under the scheme.

Eligibility criteria:

• Individual Residents
• Non-Resident Individuals
• Senior Citizens above 60 years

3. Money Multiplier Fixed Deposit

By linking your Fixed Deposit scheme to your savings account, the money multiplier FD scheme offers a combination of high earnings and savings account liquidity. The main highlights of this scheme are:

• The minimum deposit amount to open this scheme is Rs.5,000.
• A loan facility is available on the deposited amount of up to 90%.
• A nomination facility is available under the scheme.
• Interest is to be paid at the time of scheme maturity.
• Up to Rs.1,50,000 can be exempted annually under the tax saving FD as per Section 80C of the Income Tax Act.

Eligibility criteria:

• Individual residents
• Hindu Undivided Families (HUFs)
• Private and Public Companies
• Trusts
• Partnership
• Firms

4. FD Xtra Suite of Products

Along with free insurance cover, FD Xtra Suite of products offers their customers many other benefits and advantages. The main highlights of this scheme are:

It helps the scheme holder fulfill goals and future requirements like,

• Term insurance
• Savings for various payments like a house loan, car loan, etc.
• Retirement planning
• Child education
• Other goals and aspirations.

In case of any urgent requirements of your invested amount, you can opt for a premature or partial fund withdrawal option of ICICI FD. You can close your Fixed Deposit account with ICICI Bank completely or partially before maturity and get the funds credited to your account during an emergency.

3. Flexible Investment Tenure:

ICICI Bank's FDs offer flexible tenure options ranging from 7 days to 10 years. The tenure range provides flexibility, and customers can also plan their investment horizons according to their goals.

4. Additional Rate of Interest for Senior Citizens:

The senior citizens who invest in this plan get an additional rate of interest of 0.50% on the regular ICICI Bank fixed deposit rates. This helps the high esteemed depositors of ICICI banks earn higher interest rates on their money.

5. The Option of Automatic FD Renewal:

You can select auto-renewal mode for your ICICI Bank Fixed Deposits. With this, you can ensure that your fixed deposit is renewed for the same period on its maturity date without any intervention and result in no loss of interest.

6. The Facility of Overdraft:

ICICI Bank as well provides the facility of overdraft on its fixed deposits. This provides an option to get instant money against your FD without breaking it.

Eligibility Criteria

Below are the groups and individuals who are eligible to open a Regular ICICI Fixed Deposit Account-

• Hindu undivided families
• Residents
• Partnership firms
• Sole proprietorship firms
• Trust accounts
• Limited companies

Premature Withdrawal

• Premature withdrawals are allowed under the ICICI FD deposits.
• Monthly interest payouts can opt under the Fixed Deposit Monthly Income Option.

Document Required

• Current Photographs 
• KYC Documents 
• Aadhar Card 
• PAN Card 
• Passport 
• Voter ID card 
• Driving License 
• Proofs of Partnership: Partnership deed, ID Proofs, and Signatures of authorized signatories incorporating certificate. 
• Hindu Undivided Family: PAN Card – Self-attested, HUF declaration, and Statement of Bank

• Fill in the needful details like the policy's tenure and the amount willing to be invested
• Provide nominee details.
• Confirm all the details before proceeding further
• A receipt will be generated that can be downloaded instantly

2. ICICI Bank Mobile Application

The following steps need to be followed to open an FD account via the mobile application of ICICI:

• Download the ICICI bank application on your mobile (can be either ios or android).
• After creating credentials, one can sign in to the application.
• Head to the main menu and select the deposit option after signing in
• Under the "Deposits" option, choose the "Open Fixed Deposit" tab
• Fill in all the required details and upload the required documents
• A receipt will be generated after successfully providing all the details, which can be downloaded immediately

3. An ICICI FD Account Offline

In the offline method of opening an ICICI Fixed Deposit Account, the investor needs to visit the nearest ICICI branch and fill out forms to open their respective FD account. All the relevant documents must be submitted to the branch manager along with the deposit amount. After successfully verifying all the provided documents, the branch manager provides a receipt that is the account opening proof for the investor.