• Overview of ICICI HFC Fixed Deposit

    ICICI HFC offers retail fixed deposits to investors looking for a safe and profitable savings channel with interest rates up to 6.10% p.a. The company’s fixed deposit schemes feature competitive interest rates and flexibility allowing for effective compounding or liquidity depending on a depositor’s financial needs. These deposits are offered for differing tenures based on ICICI HFC fd interest rates. These deposits are easy to access and operate.

    Features and Benefits of opening ICICI HFC FD

    Some of the features and benefits of opening ICICI HFC FD are:

    • You get high returns due to high-interest rates offered by the lending company.
    • The process to withdraw your deposit is extremely simple and hassle-free.
    • You can open an FD account online where the whole process is quick and convenient.
    • You can make a minimum deposit of Rs.10,000 and choose to invest on a monthly, quarterly, or annual basis.
    • High level of security is offered to your deposits. ICICI HFC fixed deposits have been rated AAA Stable (highest degree of safety) by reputed credit rating agencies CRISIL, ICRA and CARE.
    • You can avail loan against your FD up to 75% of the amount deposited. You will have to pay 2% higher interest on your deposit.

    Eligibility - Who can open an FD account with ICICI HFC?

    The following entities can open an FD account with ICICI HFC:

    • A resident of India
    • Any resident Indian individual fulfilling KYC requirements
    • Any 'Non-Resident Indian'/'Person of Indian Origin'
    • Hindu Undivided Family
    • Trust, Societies, Firms, Companies and Foundations can open an ICICI HFC account.
    • Public or private firm, company, and foundation.

    How to apply for ICICI HFC FD

    • Click on the link given https://www.icicihfc.com/fixed-deposit.
    • Click on ‘Apply Now’ button.
    • Choose the FD plan.
    • You will then have to update your bank details for interest and payment of maturity.
    • Fill the form and upload the necessary KYC documents.
    • Make the payment after which an application form will be generated.
    • Visit the nearest ICICI HFC branch and submit the application form along with the documents.
    • The lending company will issue you a fixed deposit receipt after receiving the form and the documents. The receipt will be sent on your mobile number after 3 working days.
    • A physical copy of the receipt will also be sent to your communication address.

    You can visit the nearest ICICI HFC branch and get in touch with an official who will help you with the process of opening an FD account.

    What are the interest rates offered on ICICI HFC fixed deposits for less than Rs.20 million?

    Tenure Cumulative Non-cumulative
    Cumulative Monthly Quarterly Annual
    More than 1 year to less than 2 years 4.30% 4.20% 4.25% 4.30%
    More than 2 years to less than 3 years 5.55% 5.40% 5.45% 5.55%
    More than 3 years to less than 5 years 5.95% 5.80% 5.85% 5.95%
    More than 5 years to less than 10 years 6.10% 5.90% 5.95% 6.10%

    The rates are effective from 22 December 2020.

    Senior citizens and ICICI Group Employees will be offered 0.25% higher interest on their deposits.

    FAQs on ICICI HFC Fixed Deposit

    1. What Fixed Deposit Schemes does ICICI HFC offer?

      ICICI HFC offers three types of Fixed Deposits – Cumulative, Quarterly, and Monthly income plans.

    2. What is the minimum amount required to open an FD account with ICICI HFC?

      The minimum amount for ICICI HFC FDs differs as per the scheme chosen. While for the Monthly Income Plan it is Rs.40,000, for the Quarterly Income Plan it is Rs.20,000, and for the Cumulative Income Plan, it is Rs.10,000.

    3. What is the maximum amount that can be deposited in an ICICI HFC FD account?

      There is no maximum amount stated for FDs with ICICI HFC. Deposits over the minimum initial investment are accepted in multiple units of Re. 1.

    4. What is the minimum / maximum deposit period for fixed deposits with ICICI HFC?

      The minimum tenure for ICICI HFC is 12 months and the maximum is 60 months.

    5. Are loans provided against FDs at ICICI HFC?

      Yes, loan facility is available from ICICI HFC, after three months from the date of acceptance of FDs and up to 75% of the deposit. This loan facility is available only to individuals (other than minors and NRIs) and HUFs. The interest rate for such loans will be 2% higher than what is applicable to that FD.

    6. Does ICICI HFC offer senior citizens special rates on their fixed deposits?

      Yes, depositors aged over 60 are offered special interest rates over 0.25% more than ordinary deposits. The depositor needs to provide proof of age establishing that he/she is a senior citizen while placing the deposit.

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