ICICI Bank offer individuals the opportunity of opening an fixed deposit account. The bank provides different type of tenures and the rate of return offered on the deposits is in the range of 2.75% p.a. to 5.50% p.a. for general citizens.
ICICI FD Interest Rates for deposits below Rs.2 crore (with premature withdrawal facility)
Listed in the table below are the interest rates offered by the bank on term deposits before Rs.2 crore. The interest rates mentioned here are for deposits which have the premature withdrawal facility:
|Tenure||Interest rate for General Citizens (p.a.)||Interest rate for Senior Citizens (p.a.)|
|7 days to 14 days||2.75%||3.25%|
|15 days to 29 days||3.00%||3.50%|
|30 days to 45 days||3.25%||3.75%|
|46 days to 60 days||3.50%||4.00%|
|61 days to 90 days||3.50%||4.00%|
|91 days to 184 days||4.10%||4.60%|
|185 days to 289 days||4.50%||5.00%|
|290 days to less than 12 months||4.75%||5.25%|
|12 months to 389 days||5.15%||5.65%|
|390 days to less than 18 months||5.15%||5.65%|
|18 months to 36 months||5.35%||5.85%|
|36 months 1 day to 60 months||5.50%||6.00%|
|5 years 1 day up to 10 years||5.50%||6.30%|
|60 months (Tax Saver FD)||5.50%||6.00%|
Note: The interest rates mentioned here are effective from 16 June 2020.
ICICI FD Interest Rates for deposits above Rs.2 crore (with premature withdrawal facility)
|Tenure||Interest Rate (p.a.)|
|Rs.2 crore to less than Rs.5.00 crore||Rs.5 crore to less than Rs.5.10 crore||Rs.5.10 crore to less than Rs.24.90 crore||Rs.24.90 crore to less than Rs.25 crore||Rs.25 crore and above|
|7 days to 14 days||2.50%||2.50%||2.50%||2.50%||2.50%|
|15 days to 29 days||2.50%||2.50%||2.50%||2.50%||2.50%|
|30 days to 45 days||3.00%||2.50%||3.00%||2.50%||3.00%|
|46 days to 60 days||3.00%||2.75%||3.00%||2.75%||3.00%|
|61 days to 90 days||3.00%||2.75%||3.00%||2.75%||3.00%|
|91 days to 184 days||3.50%||3.00%||3.50%||3.00%||3.50%|
|185 days to 270 days||4.00%||3.25%||4.20%||3.25%||4.00%|
|271 days to less than 12 months||4.25%||3.25%||4.25%||3.25%||4.25%|
|1 year to less than 18 months||4.75%||3.25%||4.75%||3.25%||4.75%|
|18 months to 2 years||5.00%||3.25%||4.75%||3.25%||4.75%|
|2 years 1 day to 3 years||5.00%||3.25%||4.75%||3.25%||4.75%|
|3 years 1 day to 5 years||5.00%||3.25%||4.85%||3.25%||4.85%|
|5 years 1 day to 10 years||5.00%||3.25%||4.75%||3.25%||4.75%|
Note: The interest rates mentioned here are effective 3 June 2020.
ICICI FD Interest Rates for deposits less than Rs.2 crore (without premature withdrawal facility)
|Tenure||Rs.2 crore to Rs.25 crore|
|7 days to 14 days||2.50% p.a.|
|15 days to 29 days||2.50% p.a.|
|30 days to 45 days||3.00% p.a.|
|46 days to 60 days||3.00% p.a.|
|61 days to 90 days||3.00% p.a.|
|91 days to 150 days||3.60% p.a.|
|151 days to 184 days||3.60% p.a.|
|185 days to 270 days||4.10% p.a.|
|271 days to less than 1 year||4.35% p.a.|
|1 year to less than 18 months||4.85% p.a.|
|18 months to 10 years||5.10% p.a.|
Note: The interest rates mentioned here are effective 3 June 2020.
ICICI NRO and NRE Fixed Deposits Rates
The interest rates offered by the bank on NRO and NRE fixed deposits are the same as the interest rates offered on domestic term deposits.
Term wise ICICI Bank FD Interest Rates
ICICI Bank Short-term Fixed Deposit Interest Rates (Below Rs.2 crore)
ICICI Bank offers interest in the range of 2.75% p.a. to 4.75% p.a. for opening a short-term fixed deposit account. Short-term fixed deposit tenures are those which are between 7 days and less than 12 months.
ICICI Bank Medium-term Fixed Deposit Interest Rates (Below Rs.2 crore)
Medium-term fixed deposit are those which have a tenure between 12 months and 60 months. The rate of return offered by ICICI Bank on such deposits range between 5.15% p.a. to 5.50% p.a.
ICICI Bank Long-term Fixed Deposit Interest Rates (Below Rs.2 crore)
Any FD account that is opened for a period of 5 years and above are termed as long-term fixed deposits. The lender offers interest of 5.50% p.a. on such deposits.
ICICI Bank Senior Citizen Fixed Deposit Interest Rates (Below Rs.2 crore)
Citizens above the age of 60 years fall in the category of senior citizens. ICICI Bank offer them additional interest of 0.50% p.a. on all fixed deposit tenures. The payable interest range between 3.25% p.a. to 6.30% p.a.
ICICI Bank 5-year Tax Saver FD rate
The interest rate on 5-year Tax-saver Fixed Deposit account offered by the bank is 5.50% p.a. for regular citizens and 6.00% p.a. for senior citizens.
The maximum amount for this deposit is Rs.1.5 lakh, as per the requirements of Section 80C of the Income Tax Act. Please note that you cannot withdraw a tax-saver FD before the maturity period ends.
How to Calculate ICICI FD Interest Rates
The interest earned on your FD depends on factors such as the principal amount, tenure, declared rate of interest, and how often interest is paid out. Instead of manually calculating, find FD maturity amount and interest earned using our ICICI FD Calculator and get the information you need instantly.
To use the tool, enter your initial investment (deposit amount), interest rate, and duration of investment. Here’s an illustration to make it clear. Suppose you have put Rs.3.5 lakh in your ICICI FD account for a period of 3 years. Your maturity amount at a rate of 5.75% p.a. would be Rs.4.1 lakh. This means that the interest earned is Rs.60,000.
Features of ICICI Fixed Deposits
- Six types of FD schemes: 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 suite of products.
- Minimum deposit amount: Rs.1 lakh for FD Monthly Income Option; Rs.1 crore for FD without premature withdrawal; Rs.10,000 for Tax-saver FD and regular FD; and Rs.5,000 for Money
- Pledge as loan collateral: Up to 90% of the FD amount (principal + interest accumulated) can be taken as loan.
- Nomination: Nominate someone to get the maturity amount in case of your demise. Also available for corporate clients.
- Minimum deposit of Rs.2,000 for minors
- Single and joint account-holding available
- Quarterly, monthly, annual or lumpsum payouts
- Payouts/maturity amount credited to the linked savings account
- Premature withdrawals in multiples of Rs.1,000
FAQs on ICICI Bank FD schemes
- What is the deposit limit for Tax Saving FD?
One can make a deposit within Rs.10,000 and Rs.1.50 lakh for ICICI Bank Tax Saving FD.
- What is the tenure for Tax Saving FD?
The Tax Saving FD comes within a lock-in period of 5 years.
- What is tenure for regular FD?
The tenure period for a regular FD lasts between 7 days and 10 years.
- Do senior citizens get an additional interest rate on FDs?
Yes, senior citizens can enjoy an additional interest rate of 0.50% on select FD schemes.
- Is the interest income on FD taxed?
Yes, the interest income is taxed as per Tax Deducted at the Source (TDS) according to the Income Tax 1961.
- Does ICICI bank provide the option of auto renewal on FDs?
Yes, the facility of auto-renewals on FDs. You can opt for it at the time of opening the FD account or any time before it matures.
- How can I approach the bank of opening a ICICI FD account?
An FD account with ICICI Bank can be opened in the following ways:
- Visit the nearest bank branch
- Call the customer care executives
- Logging into iMobile or the bank’s website.
- Visiting the nearest ICICI ATM
- Is TDS deducted on the interest earned?
TDS is applicable only if the interest earned on the FD account is more than Rs.10,000. If the interest earned is less than Rs.10,000, TDS is not applicable under Section 194A.
- Can I redeem my term deposit before the end of the tenure?
In order to redeem the term deposit before the end of the tenure, you can either use the internet banking facility or iMobile facility or call the customer care executives. While the internet banking and iMobile facility can be used at any time, you can call the customer care executives between 7 a.m. and 9.00 p.m. from the registered mobile number.
- What is the process of changing the status of auto renewal facility?
To change the status of auto-renewal facility of the fixed deposit, you need to follow the steps mentioned below:
- Login to internet banking
- Click on ‘customer service’
- Select ‘Service Request’
- Click on ‘Deposits’
- Select ‘Closure/Renewal of Existing Fixed/Recurring Deposit’
- Next click on ‘Request for Closure of FD on maturity date’ and press continue
- Finally enter the FD account number, FD number and Submit