ICICI Bank’s FD Interest Rate(Deposits up to Rs.2 crores)
| Rate of Interest (% p.a.) w.e.f June 17, 2019 |
| Tenure | Interest Rate |
|
7 days to 14
days
|
4
|
|
15 days to 29
days
|
4.25
|
|
30 days to 45
days
|
5.5
|
|
46 days to 60
days
|
6
|
|
61 days to 90
days
|
6
|
|
91 days to
120 days
|
6
|
|
121 days to
184 days
|
6
|
|
185 days to
289 days
|
6.5
|
|
290 days to
less than 1 year
|
6.75
|
|
1 year to 389
days
|
6.9
|
|
390 days to 2
years
|
7
|
|
2 years 1 day
upto 3 years
|
7.3
|
|
3 years 1 day
upto 5 years
|
7.25
|
|
5 years 1 day
upto 10 years
|
7
|
|
5 Years Tax
saver FD(Max upto Rs. 1.50 lac)
|
7.25
|
ICICI Bank offers the Fixed Deposit account to customers in order to enable them to invest their money without any risk and earn attractive returns for their investment.
Types of ICICI Bank FD
- ICICI Bank Simple Fixed
Deposit Account
- ICICI Bank Tax Saving
Fixed Deposit Account
- ICICI Bank Money
Multiplier Fixed Deposit Account
- ICICI Bank Security
Deposit Account
1. ICICI Bank Simple Fixed Deposit Account
- The
minimum deposit amount is ₹ 10,000.
- There
is no limit on the maximum deposit amount.
- Minors
can open the FD account with an investment of ₹ 2,000.
- Partial
withdrawal is allowed from the deposit account in multiples of ₹ 1000.
- A
loan or overdraft of up to 90% of the deposit account can be availed.
- The
customer can select from a choice of 2 investment plans:
- Traditional
Plan: The customer can choose to earn interest quarterly or monthly.
- Reinvestment
Plan: The interest is earned at a compounded rate quarterly and reinvested with
the principal amount to earn further interest.
- The
FD account can be automatically renewed in the absence of any instructions on
maturity.
- Nomination
facility is available under this scheme.
2. ICICI Bank Tax Saving Fixed Deposit Account
A tax saving FD scheme is specially designed for saving
tax under Section 80C. The features of the ICICI Tax Saving Fixed Deposit are
as follows:
- The
minimum deposit amount is ₹ 10,000.
- The
maximum deposit amount is ₹ 1.5 lakhs per year.
- The
duration of the deposit is fixed for a period of 5 years.
- Tax
is exempted on the savings under Section 80C of the Income Tax Act.
- The
customer can select from a choice of 2 investment plans
- Traditional
Plan: The customer can choose to earn interest quarterly or monthly.
- Reinvestment
Plan: The interest is earned at a compounded rate quarterly and reinvested with
the principal amount to earn further interest.
- The
deposit can also be made through the International Debit Card.
- Premature
withdrawal is not applicable to this scheme.
- Loans
taken against the deposit cannot be availed under this deposit scheme.
- There
will be no automatic renewal of the deposit on maturity.
- The
customer will have to withdraw the deposit on maturity or it will be credited
to his or her respective savings account.
3. ICICI Bank Money Multiplier Fixed Deposit Account
ICICI Bank Money Multiplier Fixed Deposit is a
combination of a FD and a savings account offering maximum flexibility to the
account holder. The features of the ICICI Bank Money Multiplier Fixed Deposit account
are as follows:
- The
FD account is linked to the savings account of the customer
- In
case the balance in the savings account crosses the minimum requirement of ₹ 10,000, the excess amount is
transferred to the FD account in minimum multiples of ₹ 5,000 that earns higher interest
than that in the savings account
- The
customer has to provide instructions for activating the service to the bank
through net banking, phone banking or by visiting the branch.
- The
deposit period is of a minimum of 1 year or above as chosen by the customer.
- The
customer can withdraw funds from the savings account.
- In
case the balance in the savings account falls below the minimum requirement of ₹ 10,000, the FD account will be
debited through the reverse auto-sweep in facility in multiples of ₹ 5,000 to maintain the minimum
balance requirement in the savings account.
- The
debiting of the FD account is on a Last in First Out basis (LIFO).
- The
amount debited from the savings account will earn the higher FD interest rates
for the period it was held in the deposit account while the remaining balance
in the FD account will continue to earn the higher rate of interest
- The
scheme has the feature of automatic renewal wherein the bank renews the deposit
account automatically. The principal and the accrued interest are reinvested as
per the original tenure which the customer has chosen.
4. ICICI Bank Security Deposit Account
ICICI Bank Security Deposit is an FD scheme for
employees of a corporate company that can be withdrawn only with the consent of
the company. The features of the ICICI Bank Security Deposit are as follows:
- It
is available under the single mode of operation
- The
minimum deposit tenure is 6 months.
- The
maximum deposit tenure is 10 years.
- The
minimum amount of deposit required for opening the account is ₹ 10,000.
- There
is no limit on the maximum deposit amount under this scheme.
- Interest
is calculated on a compounded basis and accrues quarterly.
- Interest
is reinvested with the principal amount whenever it accrues to earn further
interest.
- The
interest earned is subject to TDS as per applicable tax laws.
- The
FDs cannot be automatically renewed.
Tags:
fixed deposit,
icici bank FD,
icici bank fixed deposits
