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ICICI FD Interest Rates

2.50% - 5.50%
Interest rates
3 months - 10 years
Time Period
₹10,000 - no limit
Min. - Max amount
QUARTERLY
Compounding

About ICICI Bank

ICICI Bank Limited is one of India's leading financial services headquartered (registered office) in Vadodara, Gujarat, and has its corporate office in Mumbai, Maharashtra. The bank offers a wide range of banking products and services for retail and corporate customers. The bank was called Industrial Credit and Investment Corporation of India when it was founded and later it changed its name to its abbreviation 'ICICI'.

ICICI Bank provides a number of fixed deposit options to the customers where they can secure their money for a fixed tenure. ICICI FD interest rates are one of the best, the market has to offer. The depositor has to deposit the money one time at the time of opening the account. Any additional amount cannot be deposited into the account once it is opened. Compared to their saving deposits, ICICI Bank offers higher interest rates on fixed deposit schemes.

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Started On1993
Head QuartersVadodara
CRISIL RatingNA
CEOSandeep Bakhshi
Listed on exchange asICICI Bank Ltd.
ICRA RatingNA

ICICI Bank FD Rates 2022

TenureRegular customersSenior citizens
1
2

Features and Benefits of ICICI Fixed Deposit

  • Senior citizens get an additional interest rate of 0.50% p.a. over regular rates
  • The minimum deposit to open an FD account in ICICI bank is Rs. 10,000. However, minors can open an account with Rs. 2000
  • Nomination facility is offered by the bank
  • Loan facility of up to 90% of the deposit is available
  • Interest on deposit will be paid only on maturity
  • ICICI provides 6 types of FD schemes, viz. Fixed Deposit (regular plan), Fixed Deposit (without premature withdrawal facility), Tax-Saver FD, Fixed Deposit with Monthly Income option, Money Multiplier Plan, and FD Xtra with an extra suite of products

Types of ICICI Bank FD Schemes

Regular Fixed Deposit

  • This is the basic deposit scheme in which the depositor is allowed to choose their preferred tenure and deposit amount and the amount is deposited at the time of opening the account.
  • The minimum amount needed to open this account is Rs. 10,000
  • It offers an attractive rate of interest
  • Loan facility up to 90% of the deposit is available
  • Interest is paid only at the time of maturity
  • Resident individuals, HUFS, public or private limited companies, partnership firm,s and trusts are eligible

Tax Saving Fixed Deposit

  • As the name suggests, this scheme has been designed to facilitate tax savings on the money by resident individuals and make the most out of their fixed deposits in the form of effective yields and returns.
  • The minimum amount needed to open this account is Rs. 10,000
  • One can choose between the traditional plan and reinvestment plan
  • Nomination facility is available
  • Auto-renewal facility is available
  • Tax benefits on deposit under section 80C of Income Tax Act, 1961
  • Resident/Non-Resident Indians and senior citizens above 60 years of age are eligible

Security Deposits

  • This deposit scheme allows corporate employees to make contributions to their savings account in the form of fixed deposit. The amount deposited under these schemes can be withdrawn with the consent of the company.
  • Interest is compounded on a quarterly basis
  • Customers have a flexible time period to invest
  • Corporate employees are eligible for this scheme

Money Multiplier Fixed Deposit

  • This is a special kind of scheme that offers a blend of savings account liquidity clubbed with high earnings of a fixed deposit by creating a fixed deposit linked to a savings account.
  • The minimum amount to open this account is Rs. 5000
  • Loan facility is available up to 90% of the deposit amount
  • Nomination facility is available
  • Interest is paid only at the time of maturity
  • Tax benefits available under section 80C of Income Tax Act, 1961
  • Resident Indians, HUFs, public or private limited companies, trust, and partnership firms are eligible

Fixed Deposit with Monthly Income Option

  • A scheme with features of a cumulative fixed deposit in the investment phase and monthly income in the payout phase.
  • The scheme is divided into the investment phase and the payout phase.
  • The investment phase is where the depositor opens a cumulative Fixed Deposit (FD) account. Once this phase is completed, the entire maturity amount (FD Amount + Interest) will be invested in the Annuity Fixed Deposit for the payout period
  • The payout phase is where you will receive the benefits of the amount you have invested along with the interest on a monthly basis
  • Next is Annuity FD where the accumulated corpus will be reinvested and the payout will be given to the depositor on a monthly basis along with the interest
  • The duration of the deposit will be for the investment phase will be for a minimum period of 24 months and in multiples of 1 month. The maximum will be 8 years
  • The payout phase will be for a minimum period of 24 months and in multiples of 12 months
  • The minimum amount of deposit will be Rs. 1 lakh and thereafter in multiples of Rs 25,000

FD Xtra suite of products

  • This scheme offers a free insurance cover and a plethora of other benefits to the customers. 
  • The scheme is specially designed to meet the life-stage needs and goals of customers including term insurance, saving for the down payment of home and car, child education, retirement planning, and fulfilling travel goals among others.

Term wise ICICI Fixed Deposit Rates

Short-term Deposits

For an ICICI FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 2.50% p.a. to 4.40% p.a. These deposits are known as short term deposits as they have a tenure of less than 1 year.

Medium-term Deposits

Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits ranges from 4.40% p.a.- 5.35% p.a.

Long-term Deposits

These deposits’ tenure ranges from 5 years to 10 years and offers an interest rate of 5.50%. Senior citizens can avail of 6.30% p.a.a for such FDs.

ICICI vs Other Banks' FD Rates

NameTenureInterest rate
1
2
3
4
5

How to invest in ICICI FD?

An ICICI Bank FD account can be opened via different modes such as Mobile App, Internet Banking, and offline.

1) Internet Banking

Follow the steps listed below to open an ICICI Bank FD account via internet banking-

  • Sign in to the Internet Banking account with the User id and password.
  • Select the ‘Open Fixed Deposit’ option.
  • Fill out all the required personal details and nominee information.
  • Lastly, submit the details and the FD account will get opened immediately.

2) Mobile App - ICICI Bank App

Follow the below-mentioned steps to open an FD account via ICICI Bank Mobile App-

  • Download the ICICI Bank App and sign in.
  • Choose the ‘Open Fixed Deposit’ option.
  • Fill out all the required personal details and nominee information.
  • Submit and the FD account will get opened immediately.

3) Offline ICICI Bank FD Opening

For opening an ICICI Bank FD account offline, one has to visit the nearest ICICI Bank branch. An ICICI Bank FD application form will be required to be filled. Along with this, submit all the essential documents with the deposit amount. On successful processing of the application,  an FD receipt will be provided by the ICICI bank.

Eligibility to Open an ICICI FD Account

The primary eligibility criterion that individuals need to fulfil to open an ICICI fixed deposit is – 

  • Indian citizen
  • Hindu undivided families (HUF)
  • Trusts 
  • Associations 
  • Societies 
  • Clubs

Documents Required to Open State Bank of India FD

The documents necessary to open a fixed deposit account with ICICI are listed below – 

Proof of Identity

  1. PAN card
  2. Voter ID card
  3. Passport
  4. Driving license (if any)
  5. Photo ration card
  6. Government ID card
  7. Senior citizen ID card (if applicable)

Residential Proof

  1. Electricity bill
  2. Telephone bill
  3. Bank statement along with a cheque
  4. An ID card or certificate issued by Post Office 

Individuals should provide the original copies for verification and photocopy of the necessary documents when opening an ICICI fixed deposit account. 

It is also imperative to note that the bank might ask for additional documents at its discretion if the concerned authority finds it necessary. 

FAQs

What is the minimum deposit amount needed to open the ICICI Regular FD account?

One can open a Regular ICICI FD account with Rs. 10,000.

What are the minimum and maximum deposits for Tax Saving FD?

To open a Tax Saving FD in ICICI Bank, one needs a minimum of Rs 10,000 and a maximum is Rs. 1.50 lakh.

What are the documents needed to open an FD account in ICICI Bank?

One can open an FD account in ICICI Bank with valid identity proof and address proof, such as PAN Card, driving license, voter ID card, passport.

What is the interest rate ICICI Bank is giving currently?

The current interest rate offered by ICICI bank ranges between 2.50%-5.50%. For senior citizens, the ICICI FD interest rates range between 3.00%-6.30%.

Calculate ICICI Bank FD Interest
Investment Amount
₹25,000.00
Time Period
9 Months
1 Year
2 Years
3 Years
Maturity Amount
ICICI Bank
@4% p.a
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