The ICICI FD Xtra is a range of five different fixed deposit options offered by ICICI Bank. These FD schemes offer attractive interest rates that ensure good returns along with growth and security as well. Interest rates range from 5.15% p.a. to which is based on the tenure for each scheme . Each of these schemes has a set of features and benefits that cater to the unique requirements of different demographic groups.
Features and Benefits of ICICI FD Xtra Schemes
The five different schemes under the ICICI FD Xtra umbrella are as given below:
FD Life:
This is a fixed deposit along with a life insurance cover with the following features:
For deposits of Rs.3 lakh and above for a minimum tenure of 2 years, complimentary life insurance policy of Rs.3 lakh of one-year duration.
Mode of holding can be joint or single.
For joint FD, the life cover will be for the primary holder only.
For NRI customers in India, life cover with NRI FD is provided.
Resident Individuals between the age of 18 and 50 are eligible.
Partial or premature withdrawal is permitted according to terms and conditions.
Interest earned is subject to TDS (Tax Deducted at Source).
Interest rate effective 21 October 2020 for tenures above 3 years to 10 years is 5.35% p.a. to 5.50% p.a.
Can be opened through ICICI Bank internet banking or by visiting the nearest branch.
FD Invest:
The interest earned in this FD scheme is invested into a Systematic Investment Plan (SIP) of a mutual fund. This scheme has the following features:
Minimum investment of Rs.2 lakh.
Tenure ranges from 1 year to 10 years.
Interest rate ranges from 4.90% p.a. to 5.50% p.a. effective 21 October 2020.
Auto renewal and auto-closure facility is available.
Additional interest rate of 0.50% p.a. for senior citizens.
SIP minimum amount is Rs.1,000 with SIP minimum tenure of 1 year.
Wide range of ICICI Prudential Mutual Funds to choose from.
Only single holding mode is available.
Resident individuals with an active ICICI Bank savings account and a valid PAN.
Can be opened at the bank's branch.
FD Income:
This FD scheme offers a regular monthly income through the interest accumulated on a one-time lumpsum deposit amount. The features of this scheme are:
Can be held singly or jointly.
Can be opened by Resident individuals.
Minimum Rs.1 lakh deposit and multiples of Rs.25,000 thereafter.
Deposit tenure is a combination of the Investment phase and the Benefit or Payout phase.
Minimum tenure is 24 months for both with multiples of one month for the Investment phase and multiples of 12 months for the Benefit phase.
Interest rate from 5.15% p.a. to 5.50% p.a. effective 21 October 2020.
Monthly payout credited to savings account.
FD Card:
This scheme offers 3 credit card variants along with the FD. The features are:
Credit limit is 90% of FD amount.
Minimum deposit amount of Rs.10,000 with tenure exceeding 6 months.
Can only be opened in auto-renewal mode.
Cumulative FD with interest reinvestment and Traditional FD with interest payout options.
Resident individuals can open the account.
Single and joint holding available.
Can be opened through ICICI's internet banking and mobile application (iMobile).
Interest rate from 4.40% p.a. to 5.50% p.a. effective 21 October 2020.
Interest earnings are subject to TDS.
FD Health:
This scheme offers complimentary illness cover with the FD scheme. The features of the scheme are:
Deposit amount ranges from Rs.2 lakh to Rs.3 lakh.
Minimum tenure of 2 years.
Critical illness cover is valid for one year from opening the FD.
Single and joint holding is available.
For joint accounts, insurance coverage is only for the primary holder.
Resident individuals between the age of 18 and 50 can open the account.
Partial or premature withdrawal is allowed subject to terms and conditions.
Interest rate from 5.00% p.a. to 5.50% p.a. effective 21 October 2020.
Interest earned is subject to TDS.
Documents Required to Open ICICI FD Xtra Schemes
The following documents are required to open any of the schemes listed above:
The ICICI FD Xtra schemes are only open to resident Indians.
What are the different credit cards offered under the ICICI FD Xtra FD card scheme?
The credit card variants offered under this scheme are the Platinum card, Coral Card, and Rubyx card.
Do senior citizens get additional interest rates under the ICICI FD Xtra FD schemes?
The interest rates for the ICICI FD Xtra schemes are the same as for the standard FD schemes for which senior citizens get an additional 0.50% interest rate per annum.
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I am doing Fixed Deposit with ICICI BANK and its been around 5years. They haven't been paying good interest and its more or less same like other banks as I used to hold my salary account with ICICI, I have decided to be with one bank. There is no locking period and its flexible. They do give good support and the app is user friendly. Even deposit account can be opened through i-mobile or net banking itself.
I just opened a Fixed Deposit with ICICI BANK and have not done any survey on this. I am account holder with them so it was easy to do FD account even they are providing 7% interest rate. The process is very user friendly and never faced any hassle. I could access this account via online.
I have invested my FD with ICICI BANK and also have a 3in1 account with them. The interest rate is pretty good. Recently started before 6months, I can do premature withdrawal and also have selected a locking period of 3 years. The customer service is good and overall am satisfied with this bank.
I opened fixed deposit with ICICI it gives tax benefits upto 80 c section, I invest Rs. 50,000 as a one time investment it has the term of five years. The online banking is good to deposit the money to take the liquidity, I have option to track the FD details also netbanking.
I have been taken my fixed deposit ICICI bank from long time, Their service is good, i have deposit certain amount which will get mature after five years once it will get mature again i will deposit , their interest rate is less comparing to other bank.
I did a Fixed deposit in ICICI BANK for my kids because I got my salary account and also have opened separate account for my kids and wife on the same bank so its easy to do the payment and linked together. The interest rate is 6.75% moreover the options are very flexible, the locking period is like 1month , 3 months, one year,etc and even the online services are enabled. Whenever I have good amount on the account so go for FD on the selected month, the interest amount will be credited into account.
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5
DURGA PRASAD VADLAMUDI
, hyderabad
Reviewed on Jun 11, 2019
I have Fixed Deposit with ICICI also which was matured earlier even it was a tax free accounts they are charging some amount. Before the financial year completion, i need to submit the document to income department to get my fund but the procedure is too long and I did not get the money. I had done investment of 1L and 0.50L which am unhappy. I would suggest them to provide the bills on time after this experience have stopped investing with them.
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6
HARITHA NARRA
, hyderabad
Reviewed on May 12, 2019
My fixed deposit with ICICI, I have opened the account through online just from the I mobile. I invested around Rs. 1 lakh its for long duration. The interest is good, I can withdraw the money through online banking without any charges. I am very fine with them.
My fixed deposit is with ICICI Bank. I can open and close this account online. The interest I earn is satisfactory. The customer services and response is good and in all it is a smooth process and there are no unwanted charges taken for the same.
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7
RAMANATHAN RAMALINGAM
, chennai
Reviewed on Mar 10, 2019
As per the current financial year they are providing 7.2% of interest on the fixed deposit, I can deposit minimum of Rs. 5000 to upto 5 crores. I have activated ICICI Fixed deposit through online, the account got activated on the same day. There is no charges for prematurity .
I do have a fixed deposit account with ICICI and it was taken recently. I have chosen ICICI because my salary and saving account was maintained with them. I am getting good response from the customer service. They are giving average interest rate. I do monthly deposit of less than 50K.
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6
PARESH THAKOR RANA
, mumbai
Reviewed on Feb 09, 2019
In ICICI fixed deposit interest rate is around 6.75% per annum, I opened the FD through online. I have invested Rs. 1 lakh they wont take any charges for the pre matured fixed interest. I believe the interest rate is good compared to the government bank.
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5
AMIT KUMAR
, yamuna nagar
Reviewed on Jan 10, 2019
I have invested a fixed deposit with ICICI. There is no reason for selected this bank. They have offered me a interest rate of 6.5% and there is no processing fee. I have invested the money 8 months before. This is a one year plan. I'm happy about the services provided by the ICICI for this account
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3
ARUMBAKKAM NANDAKUMAR PRASANNA
, thane
Reviewed on Jan 04, 2019
My fixed deposit is with ICICI Bank. I had to go to the bank and meet the executive and open the account. I can close the account online. There is a lock in period for 12 to 13 months. The interest I earn is satisfactory. I have a deposit of 70K. Overall good.
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4
VIVEK KUMAR CHAUHAN
, new delhi
Reviewed on Dec 07, 2018
In 2010, i have done a fixed deposit with ICICI. Every year its been renewing automatically. Since my working in ICICI bank, he has recommended me about the fixed deposit plan. The amount was Rs. 2 lakhs. They have given me a interest rate 7.8% and they have increased the interest rate last year. The ICICI services are upto the mark.
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5
PADMINI GANGADHARAN JITHESH
, chennai
Reviewed on Nov 30, 2018
I don't get any attractive offers but they are providing standard interest for the Fixed deposit being an existing customer of ICICI bank. Right now the government is providing around 6% of interest for FD account for per annum. I can access FD bank through online banking.
ICICI bank fixed deposit interest rate is good as per the RBI guidelines, I have selected the period of five years on FD account. So far I have deposited some good amount, as per my experience its good. I could make the payment through online as well.
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7
BHASKAR BHASKAR ARIYAPADI NAGASUNDARAM
, chennai
Reviewed on Nov 12, 2018
I have all my products with ICICI, even I do have fixed deposit with them. I used to deposit the money on yearly basis around Rs. 50,000. I opened this account before one year, the bank will provide the interest rate upto 7.25% of yearly basis.
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4
BISWANATH SAMANTARAY
, bhubaneshwar
Reviewed on Nov 02, 2018
I have taken Fixed deposit account from Icici bank where am getting income tax benefits from them . There is no charges for the account . Where they are giving good rate of interest i have chosen 5 years of tenure plan for the deposit . Overall am satisfied with the service and response .
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7
DAVIES JOSEPH
, hyderabad
Reviewed on Oct 26, 2018
I have taken fixed deposit account in ICICI Bank . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
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5
SANTOSH KUMAR NAMALA
, hyderabad
Reviewed on Oct 06, 2018
