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ICICI HFC FD Interest Rates

5.70% - 6.65%
Interest rates
1 year - 10 years
Time Period
10000 - 50 million
Min. - Max amount
QUARTERLY
Compounding

About ICICI HFC FD

ICICI HFC is an ICICI Bank subsidiary that specializes in housing loans. ICICI HFC offers fixed deposit (FD) products with terms ranging from one to five years. The products use cumulative interest (compounding yearly) to provide clients with higher returns. There are also monthly and quarterly compounding FDs available.

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Started On1999
Head QuartersMumbai
CRISIL RatingFAAA
CEOAnirudh Kamani
Listed on exchange asICICI Bank Ltd.
ICRA RatingMAAA

ICICI HFC FD Rates 2022

TenureRegular customersSenior citizens

Features and Benefits of ICICI HFC FD

Fixed deposit FD plans from ICICI Home Finance Bank provide higher yields than savings bank accounts. The following are the major characteristics of ICICI HFC fixed deposits:

  • For resident people, the ICICI Bank fixed deposit duration extends from one year to ten years. Non-residents have a one-year minimum and a three-year maximum tenure. Once invested, the ICICI HFC fixed deposit investment cannot be changed. However, one has the option of withdrawing prematurely. They can also close their existing ICICI Home Finance Bank fixed deposit and open a new one for the specified term.
  • ICICI Bank FDs require a minimum deposit of INR 10,000. One can, however, choose between an annual income plan, a quarterly income plan, and a monthly income plan. The minimum amount varies depending on the plan. The deposit for an annual income plan is INR 10,000. The minimum deposit for the quarterly and monthly plans is INR 20,000 and INR 40,000, respectively. The maximum investment amount for ICICI Home Finance Bank FDs is unlimited.
  • For ordinary residents, ICICI Home Finance Company fixed deposit rates range between 4.3% and 6.45%. The term period ranges from one year to ten years.
  • Senior citizen depositors receive preferential interest rates from ICICI HFC. The fixed deposit rates of ICICI Bank for senior citizens range from 4.55% to 6.70%.
  • Depending on the plan chosen, ICICI Home Finance Bank FD can be invested monthly, quarterly, or yearly.
  • Beneficiaries for ICICI Home Finance FDs can be designated by depositors.
  • Deposits can be auto-renewed through ICICI Home Finance.

Types of ICICI HFC FD Schemes

Regular FD

  • Aside from money multiplication, investing in a fixed deposit with ICICI Bank provides clients with a variety of other perks. 
  • The bank's regular FD programme offers two alternatives to select from
  • Traditional plan: Interest is paid on a monthly or quarterly basis, depending on the depositor's preference.
  • Plan for reinvestment: Quarterly interest is generated and reinvested with the principle amount for greater returns.

Monthly Income FD

  • This is a term deposit that has two phases: the investment phase (where deposits are made) and the payout phase (where payments are paid) (where benefits are received).
  • When the investment phase is completed, the whole account profits will be invested in Annuity FDs and the monthly dividend will be deposited to the investor's savings account.

FD without Premature Withdrawal

  • This is a form of ICICI Bank FD plan in which the investor does not have the option to cancel the account before the end of the term, i.e. the money deposited is locked for the duration of the term. 
  • The plan has higher FD rates than those for FDs with a premature withdrawal facility.

Tax Saving FD

  • Under Section 80C of the Income Tax Act of 1961, the ICICI Tax Saver FD provides investors with a tax deduction of up to Rs. 1.5 lakh. 
  • Money is locked in for a five-year term.

Term wise ICICI HFC FD Rates

Short-Term Deposits

The Period that begins from 12 Months to 35 Months are known as short term fixed deposits, and their interest rates start from 4.30% to 5.55% depending on the number of days of the deposit for general customers, and it is from 4.55% to 5.80% for the senior citizens.

Medium-Term Deposits

A Medium-term fixed deposit, that is, from 36 months to 72 months, they withhold interest rates is 5.95% to 6.25% for general customers and is 6.20% to 6.50% for senior citizens according to the period of lock-in.

ICICI HFC vs Other Banks' FD Rates

NameTenureInterest rate
1
2
3
4
5

How to invest in ICICI HFC FD?

An ICICI HFC FD account can be opened through online and offline modes-

1) Online Method

  • Click on the 'Apply FD' link to the ICICI HFC website and enter the site as a “Customer”
  • Choose the FD plan.
  • Update the bank details for interest and maturity payments.
  • Enter basic details family details in the form and upload the KYC documents.
  • Complete the payment and get an Application Form.
  • Submit the application form & KYC documents to the nearest branch.
  • On receiving the physical Application Form, a Fixed Deposit receipt will be sent to the registered mobile number within 3 working days.
  • Also, a physical copy of the receipt will be sent to the communication address.

2) Offline Method

For opening an ICICI HFC FD account via offline mode, one has to visit the nearest ICICI HFC branch. Fill out the ICICI HFC FD application form and present all the necessary documents with the deposit amount. On successful verification of the application, an FD will be opened.

Eligibility to Open an ICICI HFC FD Account

Individuals or entities satisfying the following criteria can opt for a fixed deposit in ICICI HFC bank –

  • Resident Indians
  • NRIs and Person of Indian Origin
  • Firms
  • Hindu Undivided Family (HUFs)
  • Co-operative Societies
  • Association of Persons (AOPs)
  • Public or private firm, company, and foundation
  • Societies, Trusts, and Foundations

Documents Required to Open ICICI HFC FD

The following documents have to be furnished for opening an ICICI HFC FD –

  1. Individuals
  • Individual Application Form
  • PAN
  • Address Proof
  1. Public or Private Limited Companies
  • Corporate FD Application Form
  • Certificate of Incorporation
  • Memorandum and Articles of Association
  • Board Resolution of managing body
  • PAN Card and Address Proof
  • KYC Form of authorized signatories
  1. Partnership Firms
  • Non-Individual FD Application Form
  • Partnership Deed, Resolution, and Registration Certificate
  • Trust Deed/Bye-Law
  • KYC Form of authorized signatories
  • Tax Exemption Certificate if applicable
  1. Trusts & Foundations
  • Non-Individual FD Application Form
  • PAN Card and address proof of the Trust and the authorized signatories
  • Certificate of Registration
  • Trust Deed/Bye-law
  • KYC Form of the authorized signatories
  • Tax Exemption Certificate if applicable
  1. Co-operative Societies
  • Non-Individual FD Application Form
  • PAN Card and address proof of the Society and the authorized signatories
  • Certificate of Registration
  • Societies Deeds/Bye-Laws
  • Board Resolution of the managing body to invest in FD along with a list of authorized signatories
  • KYC Form of the authorized signatories
  • Tax Exemption Certificate if applicable
  1. HUF
  • Individual Application Form
  • PAN Card and Address proof of Karta
  • PAN Card of HUF
  • HUF Deed/Declaration from the Karta
  • KYC form of Karta
  1. Cooperative Bank
  • Corporate FD Application Form
  • PAN Card and address proof of the Bank and the authorized signatories
  • Certificate of Registration/ license issued from RBI
  • Bye-law/MOA/AOA
  • Board Resolution of the managing body to invest in FD along with a list of authorized signatories
  • KYC Form of authorized signatories
  • Tax Exemption Certificate if applicable
  1. Nagar Palika
  • Corporate FD Application Form
  • PAN Card and address proof of the entity and the authorized signatories
  • Certificate of Incorporation
  • Bye-law/Formation Document
  • Board Resolution of the managing body to invest in FD along with a list of authorized signatories
  • KYC Form of authorized signatories
  • Tax Exemption Certificate if applicable
  1. Association of Persons
  • Non-Individual FD Application Form
  • Certificate of Registration
  • PAN Card and address proof of the entity and the authorized signatories
  • Board Resolution of the managing body to invest in FD along with a list of authorized signatories
  • MOA and AOA of the Association.
  • KYC Form of authorized signatory
  • Tax Exemption Certificate if applicable

FAQs

 How frequently do ICICI HFC fixed deposit rates change?

The ICICI HFC rates for FD fluctuate in response to RBI policies and economic factors. There is no defined length of time during which fixed deposit rates will fluctuate.

 Is it possible to set up recurring deposits with ICICI Home Finance?

No, ICICI Home Finance does not provide a recurring deposit plan.

Is the ICICI Home Finance FD secure?

ICICI Home Finance Company FDs provide interest-bearing returns. The interest is paid either on a regular basis or at maturity, according to the investor's preference. Furthermore, these FDs are accredited by the most reputable credit organizations, including CRISIL, ICRA, and CARE. ICICI Home Finance Company FDs received the highest credit rating from these agencies.

Are ICICI Bank's fixed deposit rates greater than the bank's savings account interest rates?

When you invest in a fixed deposit rather than a savings account, you will receive better returns as an investor.

Can I book an ICICI Bank fixed deposit with a card from another bank?

Yes, you may book an ICICI Bank fixed deposit using a VISA debit card from another bank. When applying for a fixed deposit online, choose ‘Other bank VISA Debit Card.' You must next enter your ICICI Bank ATM/debit card number and PIN.

Who is eligible for the scheme?

One must be qualified to open a fixed deposit account with ICICI Bank. The persons listed below are eligible to invest in ICICI HFC FDs.

  • Indian Citizen
  • NRI and Person of Indian Origin
  • HUFs
  • Private Companies
  • Public Companies 
  • Foundations
  • Firms
  • Trusts
  • Associations

What are the documents needed for the scheme?

The following papers are required to open a fixed deposit account with ICICI HFC.

  • Application Forms
  • Identity Proof 
  • Residence or Address Proof
  • Date of Birth Proof

Can I withdraw the money before the tenure is over?

Premature withdrawals of FDs are permitted by ICICI Home Finance Bank, subject to specific circumstances.

  • There is no early withdrawal in the first three months.
  • The maximum interest rate paid for withdrawals between 3-6 months is 4%.
  • The interest paid on withdrawals between 6 and 12 months will be 2% less than the contractual rate of interest.
  • Withdrawals after 12 months will incur a penalty of 1% of the contractual rate.
Calculate ICICI Home Finance FD Interest
Investment Amount
₹25,000.00
Time Period
9 Months
1 Year
2 Years
3 Years
Maturity Amount
ICICI Home Finance
@5.7% p.a
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online upto 0%
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