ICICI Bank is a renowned multinational bank that offers various banking related products to its customers. Its product ranges from ICICI Bank FD, Loans and Advances, Cards to Investment and Insurance options. In this article, we will discuss about ICICI Bank Fixed Deposit, ICICI FD Schemes, ICICI FD Calculator and others.
ICICI Bank FD Benefits
With ICICI Bank FD, achieve your short-term as well as long-term goals as you get assured returns on savings. Providing flexible investment tenures and attractive interest rates, ICICI Bank fixed deposit is one of the safest ways to grow your financial wealth. Some more benefits of ICICI Bank FD are as follows:
· Investment product that offers liquidity, safety and flexibility
· Flexible tenure: 7 days to 10 years
· Option of premature/partial withdrawal of funds during emergency
· Additional 0.50% interest rate to senior citizens
· Automatic renewal facility
· FD overdraft: 90% on principal plus accrued interest
ICICI Bank FD Schemes
There are many types of ICICI Bank FD schemes available for customers. Features of some of these are:
Monthly Income Option
· Two phases- payout phase & investment phase
· Individual maintenance
· Maturity period= Investment + payout phases
· Once a depositor decides on the tenure, it cannot be altered
· Invest 1 lakh to hold the account
· Interest income earned to be taxed under Tax Deducted at Source (TDS)
Tax Saving Fixed Deposit Scheme
· Tenure is 5 years
· Tax exemptions under Section 80C of Income Tax Act, 1961
· Nomination facility
· Investment range Rs. 10,000 to Rs. 1.50 lakhs
· No premature withdrawal or loan against deposit
· Interest rate is 5.45% for general public and 5.95% for senior citizen
Multiplier Fixed Deposit
· FD account needs to be linked with savings account
· Maintenance of FD account in multiples of Rs. 500 for 12 months
· Created from funds in savings account which needs to exceed Rs. 10,000
· When the balance in the savings account is below Rs. 10,000, funds to be automatically swept-in from FD account
Golden Years FD (ICICI Bank Senior Citizens FD Rates)
- Resident senior citizens only
- Scheme applicable on single deposit amount less than Rs. 2 crore
- Eligible depositors to get an additional interest rate of 0.10% per annum over and above the existing additional 0.50% rate per annum
- The interest rate of 0.10% per annum applicable on FD tenure of 5 years and 1 day 10 years
ICICI Bank FD Rates 2023: Rs.2 crores to less than Rs.5 crores
Provided below is the table stating the ICICI Bank FD interest rates on domestic, NRE and NRO single deposits below Rs. 20 million (with effect from 24th February 2023)
Maturity Period | General | Senior Citizens |
7 to 14 days | 3.00% | 3.50% |
15 to 29 days | 3.00% | 3.50% |
30 to 45 days | 3.50% | 4.00% |
46 to 60 days | 4.25% | 4.75% |
61 to 90 days | 4.50% | 5.00% |
91 to 120 days | 4.75% | 5.25% |
121 to 150 days | 4.75% | 5.25% |
151 to 184 days | 4.75% | 5.25% |
185 to 210 days | 5.75% | 6.25% |
211 to 270 days | 5.75% | 6.25% |
271 to 289 days | 6.00% | 6.50% |
290 days to less than 1 year | 6.00% | 6.50% |
1 year to 389 days | 6.70% | 7.20% |
390 days to <15 months | 6.70% | 7.20% |
15 months to <18 months | 7.10% | 7.60% |
18 months to 2 years | 7.10% | 7.60% |
2 years 1 day to 3 years | 7.00% | 7.50% |
3 years 1 day to 5 years | 7.00% | 7.50% |
5 years 1 day to 10 years | 6.90% | 7.50% |
5 years (80C FD)- Max to 1.50 lakh | 7.00% | 7.50% |
Provided below is the table stating the ICICI Bank FD interest rates on domestic, NRE and NRO single deposits above Rs. 20 million but less than 50.0 mn (with effect from 19th July 2023)
Maturity Period | General | Senior Citizen |
7 to 14 days | 4.75% | 4.75% |
15 to 29 days | 4.75% | 4.75% |
30 to 45 days | 5.50% | 5.50% |
46 to 60 days | 5.75% | 5.75% |
61 to 90 days | 6.00% | 6.00% |
91 to 120 days | 6.50% | 6.50% |
121 to 150 days | 6.50% | 6.50% |
151 to 184 days | 6.50% | 6.50% |
185 to 210 days | 6.65% | 6.65% |
211 to 270 days | 6.65% | 6.65% |
271 to 289 days | 6.75% | 6.75% |
290 days to less than 1 year | 6.75% | 6.75% |
1 year to 389 days | 7.25% | 7.25% |
390 days to <15 months | 7.25% | 7.25% |
15 months to <18 months | 7.00% | 7.00% |
18 months to 2 years | 7.00% | 7.00% |
2 years 1 day to 3 years | 6.75% | 6.75% |
3 years 1 day to 5 years | 6.75% | 6.75% |
5 years 1 day to 10 years | 6.75% | 6.75% |
5 years (80C FD)-Max to 1.50 lakhs | N/A | N/A |
ICICI Bank FD interest rates for FCNR account with effect from 13th July 2023
Currency | USD | CAD | GBP | SGD | AUD |
12 months | 5.55 | 4,75 | 5.50 | 3.50 | 4.25 |
12 months to less than 15 months | 5.00 | 4.50 | 5.00 | 3.50 | 4.00 |
15 months to less than 24 months | 4.75 | 4.25 | 5.00 | 3.25 | 4.00 |
24 months to less than 36 months | 4.25 | 3.75 | 4.75 | 3.00 | 3.75 |
36 months to less than 48 months | 3.75 | NA | NA | NA | NA |
48 months to less than 60 months | 3.50 | NA | NA | NA | NA |
60 months | 3.50 | NA | NA | NA | NA |
ICICI Bank FD Rates for RFC Account with effect from 13th July 2023
Interest Rates (% per annum) | ||
Currency | GBP | USD |
30 days to less than 6 months | 0.25 | 0.75 |
6 months to less than 1 year | 0.50 | 1.00 |
12 months | 5.50 | 5.55 |
More than 12 months to less than 15 months | 5.00 | 5.00 |
15 months to less than 24 months | 5.00 | 4.75 |
24 months to less than 36 months | 4.75 | 4.25 |
36 months | NA | 3.75 |
The ICICI bank FD calculator is an effective online tool that helps to calculate annualized interest rate on the fixed deposit. It is a much more effective option as compared to manual calculation which has risk of errors.
To open an ICICI Bank FD account, you will need documents such as address and identity proof.
Fixed deposit holders are required to fill the form 15G which is a declaration. It ensures tax is deducted at source from interest income for a fiscal year.
ICICI Bank FD is a safe investment option with guaranteed results. It provides periodical income for investors.
To get the ICICI Bank FD certificate you can either visit the bank physically or download it from the bank’s official website or the mobile app.