• ICICI Money Multiplier

    Every individual purchases a product with a hope to get certain additional benefits from it. The ICICI Money Multiplier Plan is an exclusive feature designed to simplify banking for existing customers of ICICI Bank holding a Savings Bank Account. This add on feature is ideally suited for those who wish to get the most out of their Savings account, helping them build a stronger bond with the bank.

    Eligibility criteria for ICICI Money Multiplier Plan

    Individuals who wish to enjoy the additional benefits of ICICI Money Multiplier Plan need to satisfy the following basic criteria.

    • Existing customer - The individual should be an existing customer of ICICI bank maintaining a Resident Savings Account.
    • Minimum balance - An individual should maintain a minimum balance of Rs 15,000 if he/she has a regular Resident Savings Account or Rs 30,000 if he/she holds a Special Resident Savings Account.

    Features of ICICI Money Multiplier Plan

    Account Type Single/Joint
    Amount

    Min - Rs 15,000 for Regular Resident Savings Account and Rs 30,000 for Special Resident Savings Account

    Max - N/A
    Rate of Interest

    With Premature withdrawal facility - 6% per annum to 7.6% per account

    Without premature withdrawal facility - 6 % per annum to 7.75% per annum
    Period/Tenure 7 days to 10 years
    TDS TDS rules specified by the Income Tax department are applicable
    Loan against ICICI Money Multiplier Plan No loan facility under this plan
    Nomination Nomination facility available
    Auto Renewal Yes, unless otherwise mentioned

    ICICI Money Multiplier Interest Rates

    The interest rate for fixed deposits linked to the Money Multiplier Plan vary according to the term of a deposit and whether premature withdrawal facility is enforceable for a particular account. The amount invested into a deposit and the age of a depositor also impacts the overall interest rate. The table below highlights the Interest Rates.

    Tenure Regular FD interest rate (per annum) Senior citizen FD interest rate (per annum)
    7 days - 14 days 4.5 % 4 %
    15 days - 1 month 4.75 % 4.25 %
    1 month - 1 year 6 % - 8 % 5.5 % - 7.5%
    1 year - 389 days 8.25 % 7.75 %
    390 days 8.4 % 7.9 %
    391 days - 2 years 8.4 % 7.9 %
    More than 2 years but less than 3 years 8.25 % 7.75 %
    More than 3 years but less than 5 years 8.25 % 7.75 %
    More than 5 years but less than 10 years 7.5 % 8 %

    Table 1: Interest rates for FD with premature withdrawal facility

    In the event of accounts which have a premature withdrawal facility, the interest rates vary from 6% to 7.75% per annum, as shown below.

    Tenure interest rate (per annum)
    7 days - 14 days 6 %
    15 days - 1 month 6 %
    1 month - 1 year 6 % - 7.7 %
    1 year - 389 days 7.75 %
    390 days - 2 years 7.75 %
    More than 2 years but less than 3 years 7.35 %
    More than 3 years but less than 5 years 7.35 %
    More than 5 years but less than 10 years 7.35 %

    Note: Interest rates offered by ICICI are at their sole discretion and liable for change. The rates mentioned above are for December 2015.

    ICICI Money Multiplier Plan FAQs

    1. How can one link their ICICI Fixed Deposit to the Money Multiplier Plan?

      2. Individuals who wish to link their accounts with this feature should contact ICICI and request them to link the account. This can be done over phone or by visiting the branch. One will have to provide details of the account, post which the bank will link them.

    2. Can an individual link more than one Fixed Deposit to a resident savings account?

      3. Yes, individuals can link more than one Fixed Deposit to a resident savings account.

    3. What is the "reverse sweep" feature of this plan?

      4. Under the reverse sweep feature, a linked fixed deposit is automatically broken and the money is moved to the Resident Savings Account. This amount can be used to meet any financial shortfall in the account.

    4. What is the period for which a fixed deposit will be linked to the Money Multiplier Plan?

      5. An account will be linked to this plan for a period of 1 year, unless otherwise stated by a customer. An individual can choose a higher term period, as per his/her needs.

    5. How can one de-link their fixed deposit from the money multiplier plan?

      6. Individuals who wish to de-link their account should send a request for the same, by contacting ICICI through phone banking, the infinity feature or by visiting the branch.

    Useful Information on ICICI Fixed Deposit

    Other Fixed Deposit Schemes Offered by ICICI

    Special FD Schemes

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    ICICI Money Multiplier Reviews

    Write a Review
    • 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
      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
    • ICICI Bank Fixed Deposit
      "Excellent"
      0.5 4.0/5 "Great!"
      I have the fixed deposit account with the ICICI bank and the response is good. I would like to say that the customer service is good one and the minimum tenure starts from seven days to fifteen days of time. I am happy with the ICICI bank.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jun 07, 2018
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