One of India’s top private sector banks, ICICI Bank, offers a wide range of fixed deposits. They are safe and secure long-term investment options that help investors earn attractive interest and grow their savings. Currently, ICICI Bank offers FD interest rates between 3.00% to 7.10% p.a. for general citizens and 3.50% to 7.65% p.a. for senior citizens. Their FD tenure ranges from 3 months to 10 years with quarterly compounding of interests.
ICICI Bank FD Rates (Below 2 Crores)
For Domestic, NRE, and NRO fixed deposits under ₹ 2 crores, the interest rates that apply to different domestic ICICI FD tenures are shown in the following table.
| Maturity Period | Interest Rates for General Public (p.a.) |
Interest Rates for Senior Citizen (p.a.) |
|---|---|---|
| 7 days to 14 days | 3.00% | 3.50% |
| 15 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.50% | 4.00% |
| 46 days to 60 days | 4.25% | 4.75% |
| 61 days to 90 days | 4.50% | 5.00% |
| 91 days to 120 days | 4.75% | 5.25% |
| 121 days to 150 days | 4.75% | 5.25% |
| 151 days to 184 days | 4.75% | 5.25% |
| 185 days to 210 days | 5.75% | 6.25% |
| 211 days to 270 days | 5.75% | 6.25% |
| 271 days 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% | 7.65% |
| 18 months to 2 years | 7.10% | 7.65% |
| 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% |
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*Note: Interest rates may change. Please visit the official ICICI Bank website for the most recent updates.ICICI Bank FD Rates (Above 2 Crores)
The following table shows the interest rates and corresponding tenures for ICICI Bank's Domestic, NRE, and NRO FD accounts for deposits exceeding ₹ 2 crores:
| Maturity Period | Interest Rates for General Public (p.a.) |
Interest Rates for Senior Citizens (p.a.) |
|---|---|---|
| 7 days to 14 days | 4.75% | 4.75% |
| 15 days to 29 days | 4.75% | 4.75% |
| 30 days to 45 days | 5.50% | 5.50% |
| 46 days to 60 days | 5.75% | 5.75% |
| 61 days to 90 days | 6.00% | 6.00% |
| 91 days to 120 days | 6.50% | 6.50% |
| 121 days to 150 days | 6.50% | 6.50% |
| 151 days to 184 days | 6.50% | 6.50% |
| 185 days to 210 days | 6.65% | 6.65% |
| 211 days to 270 days | 6.65% | 6.65% |
| 271 days 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 | 7.05% | 7.05% |
| 18 months to 2 years | 7.05% | 7.05% |
| 2 years 1 day to 3 years | 7.00% | 7.00% |
| 3 years 1 day to 5 years | 7.00% | 7.00% |
| 5 years 1 day to 10 years | 7.00% | 7.00% |
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*Note: Interest rates are susceptible to change. To know the most recent updates, please visit the official ICICI Bank website.ICICI Bank Tax Saver Deposit
HDFC Bank offers business loans at low-interest rates depending on the specific needs of the business. This allows you to save a significant amount on the cost of borrowing thus helping you expand your business.
Here is the overview of the interest rate and charges on HDFC business loans:
| ICICI Bank Tax Saver FD | Interest Rate for General Public |
Interest Rate for Senior Citizens |
|---|---|---|
| 5 Years (80C FD) – Maximum up to 1.50 lac | 7.00% | 7.50% |
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ICICI Bank FNCR Deposit Interest Rates
The below table demonstrates the interest rates and tenures for ICICI Bank FNCR Deposit.
ICICI Bank FCNR Fixed Deposit Interest Rates (%p.a.)
| Currency | USD | SGD | GBP | AUD | CAD |
|---|---|---|---|---|---|
| 12 months to less than 24 months | 5.50 | 3.50 | 4.90 | 4.40 | 4.65 |
| 24 months to less than 36 months | 3.95 | 2.75 | 4.00 | 3.75 | 3.30 |
| 36 months to less than 48 months | 3.65 | - | - | - | - |
| 48 months to less than 60 months | 3.30 | - | - | - | - |
| 60 months | 3.30 | - | - | - | - |
Would you like to know your ICICI Bank FD returns?
It is advisable to calculate your possible gains before investing. To make the task simpler, use the ICICI Bank FD Calculator to quickly calculate your returns.
Features & Benefits of ICICI Bank Fixed Deposit
ICICI Bank FDs help you save and grow your money smartly. Below are the major features and benefits of ICICI Bank Fixed Deposit.
- Special Senior Citizen Benefit: Senior citizens enjoy an extra interest rate of 0.50% p.a. above the regular rates, increasing the returns on their investments.
- Flexible Minimum Deposit: The minimum deposit to open an FD account with ICICI Bank is ₹10,000. Minors can open an account with just ₹2000.
- Nomination Facility: The bank provides a nomination facility, allowing you to choose a nominee for your FD account.
- Loan Against FD: Investors can avail a loan against ICICI Bank FD. The bank offers loans of up to 90% of your fixed deposit amount, providing financial flexibility and liquidity.
- Interest on Maturity: Interest on your deposit is paid only upon maturity, ensuring the maximum benefit from your investment.
- Diverse FD Schemes: Customers can choose from six distinct FD schemes offered by ICICI Bank, including 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, which provides an additional suite of products.
ICICI Bank FD Account Eligibility
To open an ICICI fixed deposit, you should meet the following eligibility criteria:
- Indian Citizen: Any individual holding Indian citizenship is eligible to open an ICICI fixed deposit.
- Hindu Undivided Families (HUF): HUF can jointly invest in an ICICI Bank FD and grow their saving at a steady rate.
- Trusts: Trusts, whether public or private, are eligible to open ICICI fixed deposits.
- Societies: Registered societies, including nonprofit organizations, or community groups, can open ICICI FD.
- Associations: Any registered association, be it for charitable purposes or other objectives, is eligible.
- Clubs: Social or recreational clubs are eligible to open ICICI fixed deposits.
Documents Required to Open ICICI FD
These documents are required if you wish to open a savings account (FD) with ICICI Bank.
- Forms and Photographs: ICICI Bank Fixed Deposit Form, two passport-size photographs.
- Identification Proof: Aadhaar card, PAN Card, Driver’s License, Voter ID card.
- Address Proof: Aadhaar card, Passport, Utility Bills, etc.
Premature Closure of ICICI Bank Fixed Deposit
Premature closure refers to the withdrawal of funds from your fixed deposit account before the agreed-upon tenure expires.
In case of pre-mature withdrawal of the DOMESTIC, NRO & NRE deposits, interest will be paid for the period the deposit has remained with the Bank.
Also, the there the bank levies a penalty on premature FD withdrawal. However, For premature closure of NRE deposits within 1 year, there is no penalty and no payable interest. For other fixed, deposits, refer to the table below to check the penal rates applicable.
| Original FD Tenure | Penalty (%) for less than ₹5 Crores | Penalty (%) for ₹5 Crores and above |
|---|---|---|
| Less than 1 year | 0.50% | 0.50% |
| Above 1 year < 5 years | 1.00% | 1.00% |
| 5 years and above | 1.00% | 1.50% |
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Types of ICICI Bank Fixed Deposits
ICICI Bank has different fixed deposit schemes, each with special features to meet various financial needs. These options provide benefits that cater to different types of investors.
ICICI Bank Regular Fixed Deposit
This ICICI Bank FD scheme can be opened instantly through iMobile or internet banking, It offers a tenure ranging from 7 days to 10 years and a minimum deposit of ₹10,000. Enjoy an overdraft facility up to 90% of the principal plus accrued interest, and the flexibility of premature or partial withdrawals.
ICICI Bank Golden Years FD
This FD scheme is exclusively for senior citizens living in India. It applies to single deposits below ₹2 crore. Eligible depositors receive an extra interest rate of 0.10% per year, added to the existing 0.50% per year. This additional interest is valid for FDs with a tenure between 5 years, 1 day, and 10 years. If you withdraw or close the deposit after 5 years and 1 day, a penalty of 1% applies; otherwise, the standard premature withdrawal policy comes into effect.
ICICI Bank Money Multiplier FD
This FD scheme combines the flexibility of a Savings Account with the high returns of a Fixed Deposit. Linked to your Savings Bank Account, it automatically sweeps funds when the balance drops below ₹10,000. Linked FDs share your Customer ID, have a minimum one-year tenure, and operate on a Last-In-First-Out (LIFO) basis. Set in auto-renewal mode, the FD renews for the original tenure at the prevailing interest rate on the auto-renewal date.
ICICI Bank Flexi FD for Current Account Customers
Similar to the Money Multiplier FD, the Flexi FD is linked to your current account, combining the flexibility of a Current Account with the high returns of a Fixed Deposit. A minimum Current Account balance of ₹1.05 lakh is needed to start a linked FD.
Linked FDs, under the same Customer ID, automatically sweep funds when the Current Account balance falls below ₹1 lakh for individual customers.
Following a Last-In-First-Out (LIFO) basis for reverse sweeps, the FD operates in auto-renewal mode, renewing for the original tenure at the prevailing interest rate on the auto-renewal date.
ICICI Bank Tax Saver FD
In this scheme, investors can avail of a tax deduction of up to ₹1.5 lakh under Section 80C of the Income Tax Act. To start ICICI Bank Tax Saver FD a minimum deposit of ₹10,000 is needed. The tenure is fixed at 5 years.
Also, investors can choose how to receive their interest – monthly, quarterly, or reinvested in the principal. There's no option for premature withdrawal, but the FD comes with an auto-renewal feature. It's essential to note that the interest earned is taxable.
ICICI Bank FD Xtra
FD Xtra is a special set of offerings designed for customers seeking extra benefits. It includes four variants: FD Life, FD Invest, FD Income, and FD Card.
- FD Life combines the returns and security of a Fixed Deposit with the added protection of a Life Cover.
- FD Invest provides the safety of an FD alongside the growth opportunity of a Mutual Fund Systematic Investment Plan (SIP), allowing depositors to earn monthly interest on the principal invested and invest the same interest in a Mutual Fund SIP for an extra opportunity.
- FD Income offers depositors regular income for a duration of their choice. Finally,
- FD Card offers an instant FD-backed Credit Card with a credit limit of 90% of your FD amount.
ICICI Bank Fixed Deposit Schemes for NRIs
ICICI Bank has unique fixed deposit schemes for NRIs, catering to their specific financial preferences and offering various choices for savings and returns.
NRE FD Account
NRE Fixed Deposits offer a high-return option to invest your foreign income. Both the principal amount and the interest earned are fully repatriable, allowing you to transfer them back as needed. You can also avail loans of up to 90% of your deposit. The minimum deposit required is Rs 25,000, with flexible tenures ranging from 1 to 10 years. Your principal and interest are automatically renewed on maturity for added convenience.
NRO FD Account
NRO Fixed Deposits are a great option for earning high returns on funds generated in India. You can hold them jointly with Indian residents and non-residents, with a minimum deposit of Rs 25,000 and flexible tenures from 7 days to 10 years. The interest earned is fully refundable after deducting tax.
Funds in the NRO account can be repatriated up to USD 1 million per financial year. You can also get loans up to 90% of your deposit (up to Rs 5 crores) and enjoy automatic renewal on maturity. Keep in mind that the interest earned is subject to applicable tax deduction at source, but depositors can reduce this by utilizing the Double Taxation Avoidance Agreement (DTAA) facility.
NRO Tax Saver
NRO Tax Saver FD offers a tax deduction of up to Rs 1.5 lakh under Section 80C in the year of investment. The minimum deposit is Rs 25,000, and you can deposit a maximum of Rs 1.5 lakh. This ICICI FD scheme has a 5-year lock-in period, with interest payout options of Monthly, Quarterly, or Reinvestment in principal.
Investors can have a joint holder, either an Indian Resident or a Non-Resident Indian. The interest earned in the current financial year is fully repatriable after deducting tax, and funds in the NRO Account can be repatriated up to USD 1 million annually for genuine purposes. However, remember that the interest earned on NRO deposits is subject to applicable tax deductions at source, which can be reduced by utilizing the Double Taxation Avoidance Agreement (DTAA).
This FD does not allow premature withdrawal or auto-renewal and permits only a one-time lump sum deposit.
Rupee Plus Plan
The ICICI Rupee Plan allows deposits in six convertible foreign currencies: USD, GBP, EUR, JPY, CAD, and AUD with a fixed tenure of 1 year and 1 day, and premature closure is not permitted.
Once the deal is booked, future currency market movements won't affect your returns. The interest earned is tax-free in India, and your funds are fully repatriable, offering you a hassle-free investment experience.
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Frequently Asked Questions
ICICI Bank offers FD rates of up to 7.10% p.a. for general citizens and up to 7.65% p.a. for senior citizens.
To start ICICI Bank Tax Saver FD a minimum deposit of ₹10,000 is needed.
To open an FD account in ICICI Bank, you generally need KYC documents like ID proof, address proof, and a passport-sized photograph.
The FD calculator provides a close estimate. However, the actual maturity amount may vary due to factors like changes in interest rates.
ICICI Fixed Deposit rates can change periodically based on market conditions; check with the bank for the latest updates.
FD rates are usually higher than savings account interest rates in ICICI Bank.
You can calculate the maturity amount using the online FD Calculator.
Yes, redeeming your ICICI FD before maturity through premature withdrawal is possible. However, it may attract a penalty.
You can typically withdraw in multiples of Rs. 1,000 or other specified amounts from your ICICI Bank FD account, subject to the terms and conditions.
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