• Overview of ICICI Bank Fixed Deposit

    ICICI Bank offers Fixed Deposits (FDs) or Term Deposits at attractive interest rates and high returns. FDs allow one to park funds within a bank for a fixed tenure and fixed interest rate.

    Types of ICICI Bank Term Deposit schemes

    • FD with Monthly Income option
    • FD (without premature withdrawal)
    • Tax Saving Fixed Deposit
    • Money Multiplier FD

    Features of ICICI Bank FD scheme

    • One can pick a tenure for an FD within 7 days and 10 years.
    • Premature withdrawals can be made in multiples of Rs.1,000.
    • One needs to make a minimum deposit of Rs.10,000.
    • The FD scheme comes with a facility for automatic renewal upon maturity.
    • One can apply for a loan against the deposit for up to 90% of the deposit value.
    • The interest rates for the FD scheme fall between 4.00% p.a. and 7.50% p.a.
    • The Term Deposit scheme is available in two variants:
      • Traditional Plan
      • Reinvestment Plan
    • In case of a Traditional Plan, one can choose to get the interest income on a monthly or quarterly basis.
    • For a Reinvestment Plan, the interest is compounded and renewed along with the principal.

    Features of ICICI Bank FD with a Monthly Income option

    • ICICI Bank Fixed Deposits with a Monthly Income option comes with two phases:
      • Investment phase
      • Payout phase (Benefits phase)
    • Investment phase:
      • One can enjoy the investment benefits of a Cumulative FD scheme during this phase.
      • It lasts for at least 2 years and then in multiples of 1 month.
      • After the completion of this phase, the interest and returns will be invested in the Annuity FD.
    • Payout phase
      • One receives interest on a monthly basis during this phase.
      • This phase is for a minimum of 2 years and then in multiples of 12 months.
      • The monthly payouts will be transferred to the depositor’s Savings Account.
    • The FD account can only be maintained by individuals.
    • One can open the account as a joint account as well.
    • The maturity period of the FD would be the sum of Investment and Payout phases.
    • Once the depositor decides on a tenure, they cannot alter it again.
    • One must invest at least Rs.1 lakh to hold the account.
    • The interest income earned by the depositor will be taxed under Tax Deducted at Source (TDS).
    • One can prematurely close the FD account during either of the phases.
    • ICICI Bank does not allow premature withdrawals on FD with Monthly Income.

    Features of ICICI Bank Tax Saving Fixed Deposit scheme

    • The tenure of a Tax Saving FD is 5 years.
    • One can enjoy tax exemptions as mandated under Section 80C of the Income Tax Act, 1961.
    • The scheme comes with a nomination facility.
    • One can invest within the range of Rs.10,000 and Rs.1.50 lakh.
    • The scheme does not allow premature withdrawals or avail loans against the deposit.
    • The interest rate for Tax Saving FD scheme is 7.25% p.a. for general public.

    Features of Multiplier Fixed Deposit

    • For this variant of Term Deposit, one links their FD account with their Savings Account.
    • The FD account will be maintained in multiples of Rs.5,000 for 12 months.
    • It will be created from funds in one's Savings Account which have to exceed Rs.10,000.
    • If the Savings Account's balance is less than Rs.10,000, funds will be automatically swept-in from the FD account.
    • This scheme comes with a facility of automatic renewal.

    ICICI Bank Fixed Deposit rates: Under Rs.1 crore

    Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)

    7 days to 15 days

    4.00%

    4.50%

    15 days to 1 month

    4.25%

    4.75%

    1 month to 46 days

    5.50%

    6.00%

    46 days to 2 months

    6.00%

    6.50%

    Above 2 months to 6 months 4 days

    6.25%

    6.75%

    6 months 5 days to 290 days

    6.50%

    7.00%

    290 days to 12 months

    6.75%

    7.25%

    12 months to 13 months

    6.90%

    7.40%

    13 months to 24 months

    7.10%

    7.60%

    Above 24 months to 36 months

    7.50%

    8.00%

    Above 36 months to 60 months

    7.25%

    7.75%

    Above 60 months to 120 months

    7.00%

    7.50%

    *The ICICI Bank FD rates tend to change from time to time. The current rates are applicable as of 5 December 2018.

    Eligibility to apply for an ICICI Bank FD

    The applicant must be a resident of India.

    Documentation for ICICI Bank FD application

    • Government-validated ID proof:
      • Aadhaar Card
      • Permanent Account Number (PAN) Card
      • Voter’s Identity Card
      • Driving License
      • Passport
    • Government-validated address proof:
      • Electricity bill or Telephone bill
      • Passport
      • Bank Statement with Cheque

    Does ICICI Bank offer Fixed Deposits to NRIs?

    ICICI Bank offers fixed deposits for NRIs. There are different types of fixed deposit accounts offered by ICICI to meet the financial needs of its NRI customers. Listed below are the type of NRI fixed deposits offered to NRIs.

    1. NRE deposit(Non Resident External)- Offers free repatriability of investment including interest
    2. NRO deposit(Non Resident Ordinary)- Offers you the option of availing loans up to 90% of your fixed deposit
    3. FCNR deposit-(Foreign Currency Non Resident)- Allows the customer to retain their earnings in foreign currency and lets them earn interest on the same
    4. RFC deposit(Resident Foreign Currency)- This account is perfect for returning NRIs who want to deposit their money in foreign currency and earn interest on the same

    FAQs on ICICI Bank Fixed Deposit scheme

    1. What is the highest ICICI Bank Term Deposit rate?
    2. One can get a maximum rate of up to 7.50% p.a. for an ICICI Bank FD scheme.

    3. What is the minimum amount of deposit needed to open an FD account?
    4. One needs to make a deposit of at least Rs.10,000 to maintain an ICICI Bank Fixed Deposit account.

    5. What is the tenure for Tax Saving FD scheme?
    6. Tax Saving FD comes with a maturity period of 5 years.

    7. Who is eligible to open an ICICI Bank FD account?
    8. Any resident of India of can open an ICICI Bank Fixed Deposit account.

    9. What is the tenure range for ICICI Bank FD scheme?
    10. The FD scheme lies within 7 days and 10 years.

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    ICICI Bank Fixed Deposit Reviews

    • ICICI Bank Fixed Deposit
      "Customer centrice & User friendly app"
      0.5 4.0/5 "Great!"
      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.
      Was this review helpful? 1
      , nasik
      Reviewed on Oct 15, 2019
    • ICICI Bank
      ICICI Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 6
      , new delhi
      Reviewed on Aug 21, 2019
    • ICICI Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      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.
      Was this review helpful? 4
      , mumbai
      Reviewed on Aug 01, 2019
    • ICICI Bank Fixed Deposit
      "Good investment for future"
      0.5 4.0/5 "Great!"
      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.
      Was this review helpful? 8
      , bangalore
      Reviewed on Jul 19, 2019
    • ICICI Bank Fixed Deposit
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 3
      , chennai
      Reviewed on Jun 29, 2019
    • ICICI Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Jun 11, 2019
    • ICICI Bank Fixed Deposit
      "Have to be more quick in their procedure"
      0.5 3.0/5 "Satisfactory"
      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.
      Was this review helpful? 4
      , hyderabad
      Reviewed on May 12, 2019
    • ICICI Bank Fixed Deposit
      "Good Accesibility"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 8
      , indore
      Reviewed on Apr 03, 2019
    • ICICI Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 7
      , chennai
      Reviewed on Mar 10, 2019
    • ICICI Bank Fixed Deposit
      "Attractive interest with best saving"
      0.5 5.0/5 "Blown Away!"
      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 .
      Was this review helpful? 6
      , thane
      Reviewed on Mar 08, 2019
    • ICICI Bank Fixed Deposit
      "Need to increase the interest rate"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 6
      , mumbai
      Reviewed on Feb 09, 2019
    • ICICI Bank Fixed Deposit
      "Smart Investment"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 4
      , yamuna nagar
      Reviewed on Jan 10, 2019
    • ICICI Bank Fixed Deposit
      "Good Deposit"
      0.5 5.0/5 "Blown Away!"
      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
      Was this review helpful? 3
      , thane
      Reviewed on Jan 04, 2019
    • ICICI Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 4
      , new delhi
      Reviewed on Dec 07, 2018
    • ICICI Bank Fixed Deposit
      "Nice bank for fixed deposit"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 5
      , chennai
      Reviewed on Nov 30, 2018
    • ICICI Bank Fixed Deposit
      "Good Savings"
      0.5 4.0/5 "Great!"
      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.
      Was this review helpful? 3
      , mumbai
      Reviewed on Nov 26, 2018
    • ICICI Bank Fixed Deposit
      "Good Investment"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 6
      , chennai
      Reviewed on Nov 12, 2018
    • ICICI Bank Fixed Deposit
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      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.
      Was this review helpful? 3
      , bhubaneshwar
      Reviewed on Nov 02, 2018
    • ICICI Bank Fixed Deposit
      "Good Investment Plan"
      0.5 4.5/5 "Excellent!"
      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 .
      Was this review helpful? 6
      , hyderabad
      Reviewed on Oct 26, 2018
    • ICICI Bank Fixed Deposit
      "Good Investment Plan"
      0.5 4.0/5 "Great!"
      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 .
      Was this review helpful? 4
      , hyderabad
      Reviewed on Oct 06, 2018
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