ICICI HFC is an offshoot of ICICI Bank primarily dealing with home financing. ICICI HFC provides fixed deposit products with 1 year to 5 years tenors. The products apply cumulative interests (compounded annually) to give greater returns to customers.
The fixed deposit interest rates from ICICI HFC given above are the latest figures available. You should always ensure that you have the latest interest rates at hand before applying for a fixed deposit, as interest rates are highly dynamic and may change between the moment you shortlist a product, and actually apply for it.
Interest rate on ICICI HFC Fixed Deposits
ICICI HFC offers high rates of interest on its FD schemes for tenures of 1 year to 5 years. For a period of 1 year to less than 2 years and of 3 years to less than 4 years the interest rate is pegged at 9% p.a. It is enhanced by 0.25% to 9.25% for deposits held for 2 years to less than 3 years. The lowest interest rate offered is at 8.75% on holdings between 4 years to 5 years.
These rates are on an annual basis under the annual cumulative or compounding option. Under the quarterly compounding option, rates range between 8.5% and between 8.95% and 8.4% and 8.9% under monthly compounding options.
The company runs a special FD scheme which offers interest rates starting from 8.75% for a deposit period of 5 years. At a quarter percent higher it is at 9% on deposits held for periods of 1 year or 40 months. Depositors can earn 9.25% on deposits held for 30 or 35 months and extra 0.15% at 9.4% if held for 15 or 20 months.
Under the quarterly compounding options these rates range between 8.5% to 9.1% and under the monthly compounding option it varies from 8.4% to 9%.
ICICI HFC Senior citizen FD rates
Senior citizens stand to receive 0.35% additional rate of interest for all the above mentioned tenures.