ICICI Bank FD Interest Rates

However, you are not allowed to withdraw or deposit extra money during the tenure of your ICICI FD account.

ICICI fixed deposits offer a higher ICICI Bank FD rates in comparison to their other saving deposit options.

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ICICI Bank FD Rates - Features & Benefits

The features and benefits of these fixed deposits are:

• A Simple Investment Tool that Provides Flexibility, Liquidity, and Safety: The fixed deposits of ICICI Bank offer a safe option for investment that provides fixed returns. The ICICI Bank FD rates do not change by any of the external factors.
• Option for Premature or Partial Withdrawal: 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 the maturity and get the funds credited to your account at the time of emergency.
• Flexible Investment Tenure: The FDs of ICICI Bank offers flexible tenure options that range from 7 days to 10 years. This not only provides flexibility but the customer can as well plan their investment horizons according to their goals.
• 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.
• The Option of Automatic FD Renewal: You can select auto-renewal mode for your ICICI Bank Fixed Deposits. With this, you can make sure that your fixed deposit is renewed for the same period on its maturity date without any intervention and it results in no loss of interest.
• 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.

ICICI Fixed Deposti Interest Rates

For Domestic, NRO & NRE Deposits (Less than ₹ 5 Crore)

*Rates are subject to change from time to time

*NRE rates applicable for tenure of 1 year and above only.

*Senior Citizen rates applicable only for domestic term deposits.

For Domestic, NRO & NRE Deposits with Premature Withdrawal Facility (₹ 5 Crore and Above)

*Rates are subject to change from time to time

Pre-Mature Withdrawal of the Domestic, NRO & NRE Fixed Deposits:

*Subject to revision without further notice.

Types of ICICI Bank Fixed Deposits

• Regular Fixed Deposit
• Money Multiplier Fixed Deposit
• ICICI Bank Golden Years FD
• Tax Saver FD

Regular Fixed Deposit by ICICI Bank

• A simple investment policy that offers the liquidity, safety, assured returns, and flexibility.
• A flexible tenure ranges from seven days to 10 years.
• Open FD account instantly through internet banking or iMobile.
• The facility of overdraft against the fixed deposit up to 90% of the fixed deposit amount.
• The option of partial or premature withdrawal for urgent requirements of funds.

Money Multiplier Fixed Deposit by ICICI Bank

The feature of Money Multiplier offers you the liquidity of a Savings Account that is coupled with higher earnings of FD. This unique facility can be achieved by linking a fixed deposit account with a savings account:

• The minimum balance in your savings or current account has to be Rs.15, 000 for generating a request for linked FD.
• The linked fixed deposits will be for a minimum of one year and in the same Customer ID of the Savings Account.
• All the fixed deposits linked to the savings account will also be enabled for the automatic reverse sweep when Savings Account balance falls below Rs.10, 000.
• You can break your fixed deposit in LIFO (Last-In-First-Out) basis for the process reverse sweep.
• The ICICI Bank FD rates on such deposits will be the rate that is applicable for the specific period, prevailing as on the date of auto-renewal.

ICICI Bank Golden Years Fixed Deposit

The ICICI Bank FD rates for fixed deposits more than 5 years is 0.30% extra per annum.

• The senior citizen residents of India will get additional ICICI Bank FD rates of 0.30% for a specific period above than the existing additional interest rate of 0.50% / year.
• The additional ICICI Bank FD rates will be available for fresh fixed deposits opened and the FDs that are renewed during the period of the scheme.
• Applicable duration is 20^thMay 2020 to 30^th September 2020.
• The eligible tenure of FD is five years one day to 10 years.
• The plan applies to a single fixed deposit amount that is less than Rs.2 Crore.
• In case of premature withdrawal on or after five years one day, then the applied penal rate will be around 1.30%. If the deposit is closed or withdrawn before completion of five years one day, then the prevailing policy of premature will be applied.
• The features and terms & conditions of other fixed deposit plans will be applied in this scheme as well.

Tax Saver Fixed Deposit by ICICI Bank

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 u/s 80C of the IT Act. The features of this policy are:

• You can invest as small as Rs.10, 000.
• Offers tax deduction of up to Rs.1, 50, 000 u/s 80C.
• Provides fixed returns for five years.
• Flexible pay-out options for interest, which are – quarterly, monthly, and reinvestment in principal.
• The interest that you earn is taxable.
• The facility of auto-renewal and no premature withdrawal.

ICICI Bank FD Term Wise Interest Rates

ICICI Bank Short-Term FD Interest Rates

ICICI Bank allows you to invest your money in a short-term FD with a tenure of as short as 7 days to up to 1 year. The ICICI Bank FD rates for short-term deposits are listed in the table below-

The ICICI Bank FD rates vary for senior citizens. For an FD duration of 7 days to 14 days, the interest rate is 3.25 percent whereas, for a duration of 15 days to 29 days, the rate of interest is 3.50 percent. While the interest rate for an FD duration of 30 days to 45 days is 3.75 percent, the rate of interest earned for an FD of 46 days to 90 days is 4.00 percent. Moreover, for an FD period of 91 days to less than 184 days is 4.60%, whereas for 185 days to 289 days it is 5.00%. The rate of interest for 290 days to 364 days is 5.25 percent.

ICICI Bank Interest Rates for Medium & Long-Term FDs

Multiple tenure options are ranging between 1 year to 10 years, to deposit your money. The ICICI Bank FD rates earned for each duration also varies-

• For one-year deposits, the interest rate is 4.75 percent for general people. And for senior citizens, the rate of interest applicable is 5.25 percent.
• The interest payable for senior citizen FDs ranging between 18 months and 2 years is 5.85 percent per annum.
• If you choose a period of more than 3 years to 5 years, then the rate of interest applicable is 5.50 percent and for an FD of more than 5 years but less than 10 years, the interest rate is 5.50% per annum for regular FD holders. For senior citizens, the rate of interest applicable is 6.00 percent and 6.00 percent respectively for the same time frame.

Charges for Premature Withdrawal

For withdrawing your deposits before the maturity date, the interest will be calculated for the duration the deposits were kept with the ICICI Bank. A penalty will be levied as per the ICICI Bank FD interest rates applicable.

Penalty Rates for Premature Withdrawal of FD

Original FD TermPenalty Rates (Subject to Change Without Prior Notice)

How is ICICI Bank FD Interest Rates Calculated?

There are several FD schemes offered by ICICI Bank. It is quite simple to calculate your ICICI Bank FD interest rates and you can easily do that using an online FD interest rates calculator.

You can calculate the total interest earned on your FD by using an ICICI FD calculator online.

To know the maturity amount, you will have to provide the following details in the tool-

• The invested amount or the principal amount
• FD term
• The ICICI Bank FD rates
• Tax deduction
• The frequency of the compound interest

An FD calculator is a simple tool that aids in the calculation of interest when all parameters are provided.

* ICICI Bank FD Interest rates are subjected to change as per the discretion of the bank

Loans on ICICI Bank Fixed Deposits

You can get up to a maximum of 90 percent loan against your FD deposits.

You can only get a loan for ICICI FDs and not for fixed deposits in some other bank. You can avail of the loan with a tenure similar to the duration of the fixed deposits.

The rate of interest that is charged on loans against ICICI Bank FDs ranges from 3.5% to 6.5%.

ICICI Bank FD Interest Rates for NRI

ICICI Bank offers a myriad of lucrative investment options for all the NRIs or Non-Resident Indians. Some of the FD options that are available are NRE, NRO, and FCNR accounts.

NRI fixed deposits provide competitive ICICI Bank FD rates along with the tax exemption benefits.*

NRE or a Non-Resident External Account is a great option for foreigners who want to deposit their funds in Indian rupees. The ICICI Bank FD rates for NRE ranges from 2.50 percent to 3.15 percent.

You can also park your funds in Non-Resident Ordinary (NRO) deposits to earn an interest ranging between 2.50 percent to 3.15 percent. These are low maintenance funds with higher tax benefits*.

Furthermore, the interest earned on FCNR deposits is non-taxable in India.

*Tax benefit is subject to changes in tax laws

ICICI Fixed Deposit Rates – FAQs

ICICI Fixed Deposit Rates – News