ICICI Money Multiplier
The ICICI Money Multiplier is a scheme that combines the high earnings of a fixed deposit account with the liquidity of a savings account. One can start the money multiplier scheme by linking their savings account with their fixed deposit account.
Features of ICICI Money Multiplier Plan
The main features of the ICICI Money Multiplier Plan are mentioned below:
- ICICI money multiplier provides great returns.
- The scheme allows you to withdraw money from your savings account.
- Auto-renewal facility available.
Eligibility Criteria for ICICI Money Multiplier Plan
To be eligible to open an ICICI money multiplier plan, you should:
- Be above 18 years of age
- Be a resident of India
- Have a resident savings account with the bank
- Have the ability to maintain a minimum amount of Rs.15,000 to Rs.30,000 in the account
Note: Hindu Undivided Family (HUF) and foreign national customers can also open an ICICI money multiplier plan.
ICICI Money Multiplier Interest Rates for Deposits Less than Rs.5 Crore
The interest rates for ICICI Money Multiplier for deposits less than Rs.5 Crore are given below:
Period | General Citizen | Senior Citizen |
7 to 29 Days | 4.75% 4.00% | 4.00% |
30 to 45 Days | 4.75% | 4.75% |
46 to 60 Days | 5.00% | 5.00% |
61 to 90 Days | 5.00% | 5.00% |
91 to 120 Days | 5.50% | 5.50% |
121 to 184 Days | 5.50% | 5.50% |
185 to 270 Days | 5.75% | 6.00% |
271 Days to < 1 Year | 5.75% | 6.25% |
1 Year to 389 Days | 6.25% | 6.75% |
390 Days to < 15 Months | 6.25% | 6.75% |
15 Months to < 18 Months | 6.35% | 6.85% |
18 Months to 2 Years | 6.50% | 7.00% |
2 Years 1 Day to 5 Years | 6.60% | 7.10% |
5 Years 1 Day to 10 Years | 6.60% | 7.10% |
Note: The interest rates mentioned above are applicable from 16 June 2025 and are subject to change.
FAQs on ICICI Money Multiplier Plan
- How can one link their ICICI Fixed Deposit to the Money Multiplier Plan?
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 the phone or by visiting the branch. One will have to provide details of the account, post which the bank will link them.
- Can an individual link more than one Fixed Deposit to a resident savings account?
Yes, individuals can link more than one Fixed Deposit to a resident savings account.
- What is the "reverse sweep" feature of this plan?
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.
- What is the period for which a fixed deposit will be linked to the Money Multiplier Plan?
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.
- How can one de-link their fixed deposit from the money multiplier plan?
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.
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