ICICI Bank NRE FD Rates

ICICI NRE FD is a higher-return rupee deposit means for making an investment of the foreign income of the NRIs. ICICI Bank Ltd has the facility to provide fixed deposits for Non-Residential Indians using their NRE or NRO accounts.

Read more
Best Investment Options
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
+91
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans", you agree to our Privacy Policy and Terms of Use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

What is an FD?

A Fixed Deposit is a banking service that has an option to invest money into the scheme and earn interest from the funds deposited. The deposit will remain with the Bank for a period of time called maturity. Until the completion of this maturity period, the sum deposited can’t be withdrawn. If the money needs to be withdrawn in an emergency, then the account holder will be subjected to a penalty. A fixed deposit is a better option than a savings account as they provide higher interest rates. There is a piece of information that a consumer must know the ICICI Bank NRE FD rates before investing in them.

Types of FD for NRI

The fixed deposits concerned with Non-Residential Indians have several categories. The list of classes along with their ICICI Bank NRI FD rates is as follows:

Non-Resident External Fixed Deposit

  • The amount can be deposited in the Bank from a minimum period of one year to a maximum period of ten years.
  • According to ICICI Bank NRE FD rates, the payouts will be done each month, and the interest depends on the discounted rate. 
  • The customer is also given a choice to withdraw the amount before the maturity is completed.
  • The additional interest payments for senior citizens will not be provided for the NRE account according to the ICICI Bank NRE Fixed Deposit rates.
  • The minimum deposit amount that is associated with the NRE fixed deposit account is Rs. 25,000, contemplating the ICICI Bank NRI Fixed Deposit rates.

Non-Resident Ordinary Fixed Deposit

  • The amount can be deposited in the Bank from a minimum period of seven days to a maximum period of ten years.
  • The additional interest payments for senior citizens will not be provided for the NRO account according to the ICICI Bank NRI Fixed Deposit rates.
  • The customer is also given a choice to withdraw the amount before the maturity is completed, as stated by the ICICI Bank NRE Fixed Deposit rates.
  • The period of maturity can be renewed automatically according to the needs of the customer in agreement with the ICICI Bank NRE Fixed Deposit rates.

Foreign Currency Non-Residential Fixed Deposit

  • According to the ICICI NRE FD rates, you can invest in FCNR with seven currencies.
  • The tenure period ranges from one year to five years for the currencies USD, SGD, CAD, HKD, GBP, and AUD.
  • The tenure period for EUR is of one year, and that of JPY is of two years.
  • The period of maturity can be renewed automatically according to the needs of the customer in accordance with the ICICI Bank NRE FD rates.
  • With the FCNR FD account and ICICI Bank NRI Fixed Deposit rates, you can avail of a loan at the Bank.

Resident Foreign Currency Fixed Deposit

  • According to the ICICI NRE Fixed Deposit rates, you can invest in RFC with three currencies.
  • The cash can be withdrawn in Indian currency.
  • You can also have an option to hold a joint account with a returning NRI by the ICICI Bank NRI FD rates.
  • There is no risk associated with foreign exchange i.e., conversion into rupees. 
  • You also hold an option to transfer your funds back to the Non-Resident External account when you re-gain your NRI status. 

Rates Associated with FD Types

The following are the rates associated with the types of FD for NRIs:

Non-Resident External Fixed Deposit

The ICICI Bank NRI FD rates for a sum less than INR 20.0 million:

  • One year to 389 days – 4.9%
  • From 390 days to until 18 months – 4.9%
  • From 18 months to until two years – 5.0%
  • From two years to until three years – 5.15%
  • From three years to until five years – 5.35%
  • From five years to until ten years – 5.5%

Withdrawal before Maturity

  • According to the ICICI NRI FD rates, the customer accounts for no interest when the deposit amount is withdrawn within the completion of one year.
  • For one year and higher, but within five years, the penalty rate is 1.00 for both the deposit less than INR 50 million and above INR 50 million in accordance with the ICICI Bank NRE Fixed Deposit rates.
  • For over five years, the penalty rate is 1.00 and 1.50 for the deposit less than INR 50 million and above INR 50 million, respectively, considering the ICICI Bank NRI Fixed Deposit rates.

Non-Resident Ordinary Fixed Deposit

The ICICI Bank NRE FD rates for a sum less than INR 20.0 million:

  • Seven days to 14 days– 2.5%
  • 15 days to under 30 days – 2.5%
  • 30 days to under 46 days – 3.0%
  • 46 days to under 61 days – 3.0%
  • 61 days to under 91 days – 3.0%
  • 91 days to under 121 days – 3.5%
  • 121 days to under 185 days – 3.5%
  • 185 days to under 290 days – 4.4%
  • 290 days to under one year – 4.4%
  • One year to under 390 days – 4.9%
  • 390 days to under 18 months– 4.9%
  • 18 months to below two years – 5.0%
  • Two years to below three years– 5.15%
  • Three years to below five years – 5.5%
  • Five years to below ten years – 5.5%

The ICICI Bank NRI FD rates for a sum higher than INR 20.0 million and lower than 50.0 million are:

  • Seven days to 14 days – 2.5%
  • 15 days to under 30 days – 2.5%
  • 30 days to under 46 days – 2.75%
  • 46 days to under 61 days – 2.75%
  • 61 days to under 91 days – 3.0%
  • 91 days to under 121 days – 3.0%
  • 121 days to under 185 days – 3.0%
  • 185 days to under 290 days – 3.5%
  • 290 days to under one year – 3.65%
  • One year to under 390 days – 3.75%
  • 390 days to under 18 months – 3.75%
  • 18 months to under two years – 3.9%
  • Two years to under three years – 4.3%
  • Three years to below five years – 4.3%
  • Five years to below ten years – 4.3%

Withdrawal before Maturity

  • For lesser than years, the penalty rate is 0.50 for both the deposit less than INR 50 million and above INR 50 million by the ICICI Bank NRI Fixed Deposit rates.
  • According to the ICICI Bank NRE Fixed Deposit rates for one year and higher, but within five years, the penalty rate is 1.00 for both the deposit less than INR 50 million and above INR 50 million.
  • For over five years, the penalty rate is 1.00 and 1.50 for the deposit less than INR 50 million and above INR 50 million, respectively, with respect to the ICICI Bank NRI Fixed Deposit rates.

Foreign Currency Non-Residential Fixed Deposit

The ICICI Bank NRI FD rates for the USD currency are:

  • One year to under two years – 0.23
  • Two years to under three years – 0.30
  • Three years to under four years – 0.52
  • Four years to under five years – 0.78
  • Five years – 1.03

The ICICI Bank NRE FD rates for the GBP currency are:

  • One year to under two years – 0.01
  • Two years to under three years – 0.14

The ICICI Bank NRI Fixed Deposits rates for the JPY currency are:

  • One year to under two years – 0.01
  • Two years to under three years – 0.01

The ICICI Bank NRE Fixed Deposit Rates for the CAD currency are:

  • One year to under two years – 0.22
  • Two years to under three years – 0.23

The ICICI Bank NRI FD rates for the AUD currency are:

  • One year to under two years – 0.01
  • Two years to under three years – 0.04

The ICICI Bank NRE FD rates for the SGD currency are:

  • One year to under two years – 0.25
  • Two years to under three years – 0.37

The ICICI Bank NRE Fixed Deposit Rates for the HKD currency are:

  • One year to under two years – 0.10
  • Two years to under three years – 0.18

Resident Foreign Currency Fixed Deposit

The ICICI Bank NRI Fixed Deposit Rates for the USD currency are:

  • 31 days to under six months – 0.20
  • Six months to under one year – 0.21
  • One year to under two years – 0.23
  • Two years to under three years – 0.30
  • Three years – 0.52

The ICICI Bank NRI FD rates for the GBP currency are:

  • 31 days to under six months – 0.01
  • Six months to under one year – 0.01
  • One year to under two years – 0.01
  • Two years to under three years – 0.14

The ICICI Bank NRE FD rates for the JPY currency are:

  • 31 days to under six months – 0.01
  • Six months to under one year – 0.01
  • One year to under two years – 0.01
  • Two years to under three years – 0.01

Conclusion

The ICICI Bank gives the NRIs a chance to invest in the fixed deposit banking in India. The ICICI Bank NRI FD rates are determined only by the concerned Bank, and the rates can switch between particular intervals.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

“Tax benefit is subject to changes in tax laws”

Written By: PolicyBazaar - Updated: 02 July 2021
Search
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Newsletter
Sign up for newsletter
Sign up our newsletter and get email about Investment Plans.
You May Also Want to Know About
Best LIC Policies For Investment in 2021
Best LIC Policies for Investment in 2021 When it comes to purchasing a life insurance plan, LIC plans are the most popular choice of customers. LIC is one of the most trusted and leading insurance provider companies in India. The company has a st...
What is Investment and What is Its Purpose?
What is Investment and What is Its Purpose? Different people possess different notions and understanding of “investment”. To start with, first of all, let’s try to get a clear understanding of what is investment and how it can be useful for...
Post Office Monthly Income Scheme (POMIS)
Post Office Monthly Income Scheme (POMIS) Are you looking for an investment avenue which is safe and secure, earns substantial returns with a short locking period, which says no to equities and is absolutely risk free? Well then, think about inves...
SBI Life Insurance Plans in India
SBI Life Insurance Plans SBI Life Insurance, a joint venture between State Bank of India (SBI) and BNP Paribas Assurance, provides comprehensive life insurance cover at competitive prices. SBI Life Insurance provides Unit Linked Plans, Child Educ...
Short Term Investments Options
Short Term Investments Options Short-term investments can be described as temporary investments or marketable securities, which can be easily converted into cash, generally within 5 years. Short-term investments are highly liquid assets that are s...
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL