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    ICICI Tax Saving Fixed Deposit

    ICICI Tax Saving Fixed Deposit  and 2 other FDs

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    ICICI Tax Saving Fixed Deposit is Rated as "Excellent!" by 263 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    With ICICI Tax Saving Fixed Deposit account, you get to choose from traditional plan and reinvestment plan. Traditional plan pays interest on a monthly or a quarterly basis at your convenience. Reinvestment plan on the other hand pays interest that is compounded quarterly and reinvested along with the principal amount.

    You can get tax exemptions under Section 80C of the Income Tax Act, 1961 on your savings.

    Eligibility Criteria for applying for ICICI Tax Saving Fixed Deposit

    To see if you are eligible to open a Tax Saving fixed deposit with ICICI bank just visit the nearest branch of the bank.

    Features of ICICI Tax Saving Fixed Deposit

    Account Type Joint or single
    Amount

    Minimum – Rs.10,000

    Maximum – Rs.1,50,000

    Period The account can be opened for 5 years.
    Interest The interest for traditional scheme will be credited to the savings account on a monthly or a quarterly basis.
    TDS Yes, applicable tax is deducted at source from the interest earned on the Tax saving FD as per the Income Tax Act, 1961.
    Premature withdrawals Not allowed.
    Loan No loan against the Tax Saving FD can be extended.
    Auto Renewals Not available.
    Nomination Nomination facility is available.
    Documents required

    The customer must submit the following documents along with the duly filled up form:

      • Identity proof: Passport, PAN card, Voter ID, Driving Licence, Government ID Card or Senior Citizen ID Card.

      • Address proof: passport, telephone bill, electricity bill, bank statement with cheque, certificate or ID issued by post office.

    ICICI Tax Saving FD Interest Rates

    ICICI Bank offers a higher rate of interest for its medium and long term fixed deposits. The interest offered for Tax Saving Fixed Deposit scheme is 7.75% per annum and 8.25% per annum for senior citizens.

    Note: The interest rate mentioned are as of December, 2015. The interest rate are subject to change at the discretion of the bank.

    ICICI Tax Saving Fixed Deposit FAQs

    1. What is the minimum initial deposit amount?
    2. The minimum initial deposit is Rs.10,000 .

    3. What is the maximum deposit allowed?
    4. The maximum deposit allowed is Rs.1,50,000 .

    5. What is the tenure for ICICI Tax Saving Fixed Deposit?
    6. ICICI Tax Saving Fixed Deposit can be opened for 5 years.

    7. Will the benefits of deduction be extended to both the account holders?
    8. No, the benefit is available for first holder only.

    9. What is the frequency that I will receive interest on my Tax Saving Fixed Deposit?
    10. For the traditional scheme, the interest earned will be credited to the savings account on a monthly or on a quarterly basis.

    11. Is automatic renewal facility available?
    12. No, automatic renewal facility is not available.

    13. Can I take a loan against ICICI Tax Saving FD?
    14. No, loan cannot be taken against ICICI Tax Saving FD.

    15. Is premature withdrawal available?
    16. No, premature withdrawal facility is not available.

    Useful Information on ICICI Fixed Deposit

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  • ICICI Tax Saving FD Reviews

    • ICICI Bank Fixed Deposit
      "Good one"
      0.5 3.5/5 "Pretty good"
      I have fixed deposit account with the ICICI bank and I got it from them because I had the salary account with them. Within two days of time fixed deposit account got opened and the maturity period is around one year of time. Interest rate is around 8% with them and am not that much happy with that. I would like to suggest that they can increase the rate of interest for the deposits.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • ICICI Bank Fixed Deposit
      "Average "
      0.5 2.0/5 "Expected more"
      I have withdrawn my fixed deposit account with the ICICI bank and the interest rate was around 7%. It took around one to two hours of time to open the account through online. There are no charges while withdrawing the amount , also it took around one month of time to get it.
      Was this review helpful? 1
      , pudukkottai
      Reviewed on May 08, 2017
    • ICICI Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have fixed deposit account with ICICI bank and the interest rate ranges from around 7.2% to 7.4%. Customer service is good with them and through imobile application, banking process can be done easily. Response and everything is good with them and I have not faced any issues with them.
      Was this review helpful? 6
      , kanchipuram
      Reviewed on Mar 21, 2017
    • ICICI Bank Fixed Deposit
      "Good service"
      0.5 5.0/5 "Blown Away!"
      It was really good in holding fixed deposit with ICICI bank. They offered me with best interest rate for my FD. And, the service they are providing to me is satisfactory and appreciable. There was no issues with them till date. Also, it is easy to approach their customer service for any clarification.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Mar 10, 2017
    • ICICI Bank Fixed Deposit
      "Very good process"
      0.5 5.0/5 "Blown Away!"
      I was holding a ICICI FD for a short span of time. It was really good the interest rate was too low and it was a small amount I did not bother about the interest rate and I just wanted to save money and that was the prime idea behind this investment. Service at the Branch level is good, branch people are well trained and if can of any need of investment they are ready to provide assistance.
      Was this review helpful? 3
      , mumbai
      Reviewed on Feb 09, 2017
    • ICICI Bank Fixed Deposit
      "Best interest rate in the market!"
      0.5 5.0/5 "Blown Away!"
      Interest rate offered by ICICI for the FD Is the best one therefore I had opted for the same. It was through net banking I had placed a request for ICICI bank . They had action ed the request within 24 hours no charges for the same. I had got FD receipt online acknowledging my request. Incase If one wants to break it one can place it online and in the next 24 hours its gets actioned.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Jan 02, 2017
    • ICICI Bank Fixed Deposit
      "Very hassle free and reliable"
      0.5 5.0/5 "Blown Away!"
      The reason for choosing ICICI Bank for Fixed Deposit is the experience, what I had for products made me to choose ICICI Bank for FD. Just in case if I want to break my FD I can do it online myself, not sure about the charges . I can change my matuirty instructions too online.
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 29, 2016
    • ICICI Bank Fixed Deposit
      "ICICI FD"
      0.5 3.0/5 "Satisfactory"
      I had opted for CICI FD as I had opted for it as I hold my salary account no other reason behind that. Interest rate with ICICI bank is 11% its a fixed one. I am holding this FD for a period of 2 years. No issues nor any challenges with ICICI FD. This was opted for this FD through mobile app. I will recommend this the reason being other banks are offering a much better rate.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 21, 2016
    • ICICI Bank Fixed Deposit
      "Good saivngs account for customer"
      0.5 5.0/5 "Blown Away!"
      This ICICI Fixed Deposit is meant for customer who does not have exposure about the market rates who is not very keen about the earning returns. The rate of interest offered by them is very low It is very easy to open this account through internet banking.
      Was this review helpful? 1
      , shimla
      Reviewed on Nov 28, 2016
    • ICICI Bank Fixed Deposit
      "Simpe and useful"
      0.5 5.0/5 "Blown Away!"
      I had set up FD online myself. It was very easy to open a FD online and it took hardly 5 minutes for me to open a FD .I can read the disclaimer about this FD online myself. The dashboard of internet banking displays all the details. The reason why I preferred ICICI bank for the FD is because I hold a savings account with them therefore I decided to open FD with ICICI.
      Was this review helpful? 5
      , chennai
      Reviewed on Oct 19, 2016
    • ICICI Bank Fixed Deposit
      "Easy process"
      0.5 4.0/5 "Great!"
      I earlier had an experience with ICICI Bank for a fixed deposit. It was a simple process. Though they have an option online to do it, I had to visit the branch to deposit the required funds and open this account. It was easy and I had no issues in the withdrawal too. The rate of interest was normal.
      Was this review helpful? 7
      , bangalore
      Reviewed on Oct 03, 2016
    • ICICI Bank Fixed Deposit
      "Simple process to get a FD"
      0.5 4.0/5 "Great!"
      It was a simple and easy process to open a fixed deposit with ICICI Bank. Being a corporate customer of the bank, I could login to my account and do it. I am also happy with the rate of interest I get on it. Overall a good experience and fast process.
      Was this review helpful? 6
      , kolhapur
      Reviewed on Aug 16, 2016
    • ICICI Bank Fixed Deposit
      "Best interest rate"
      0.5 4.0/5 "Great!"
      With the help of my fixed deposit that I had opened with ICICI bank I was able to save up to 25,000. The returns that I would get out of this FD are very much better. Interest rate is approximately 7-8%. I have also take a recurring deposit from the bank too.
      Was this review helpful? 8
      , mumbai
      Reviewed on Jun 04, 2016
    • ICICI Bank Fixed Deposit
      "Good "
      0.5 4.5/5 "Excellent!"
      Interest rate is around 7.5% as around for the fixed deposit with ICICI bank and the minimum lock in period is around one year of time. Customer service is fine one with them and the response is also good one with them. Through online, I have opened this account and its really easy.
      Was this review helpful? 2
      , jaipur
      Reviewed on May 30, 2016
    • ICICI Bank Fixed Deposit
      "Super online service"
      0.5 5.0/5 "Blown Away!"
      I am holding a Fixed Deposit account with ICICI bank and the interest rate is around 9.5%. I had been with them for the last two years of time and I have opened this account through corporate. Net banking facilities are good and the minimum lock in period is around one year,
      Was this review helpful? 12
      , bangalore
      Reviewed on May 23, 2016
    • ICICI Bank Fixed Deposit
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      When it comes to fixed deposit, my first point of contact is ICICI bank.. It helps me to create fds through various options like phone banking, internet banking, mobile banking and visiting the branch. I like their services. But interest rates are decreasing every year
      Was this review helpful? 8
      , kolkata
      Reviewed on May 21, 2016
    • ICICI Bank Fixed Deposit
      "Good FD paln"
      0.5 5.0/5 "Blown Away!"
      ICICI bank is offering 7.75% interest rate for the fixed despot for the current year with the minimum lock in period of five years along with the tax benefits. We can avail the facility through online if we have the account with them.The process is very easy once request is posted it is completed in one day.
      Was this review helpful? 2
      , mumbai
      Reviewed on May 02, 2016
    • ICICI Bank Fixed Deposit
      "Good "
      0.5 4.0/5 "Great!"
      I had the fixed deposit account with the ICICI bank and the interest rate is according to the RBI standard. I been with them for five years of time. I am happy with the ICICI bank customer service. Response is an immediate one with them.
      Was this review helpful? 5
      , bangalore
      Reviewed on Apr 18, 2016
    • ICICI Bank Fixed Deposit
      "Good one "
      0.5 4.0/5 "Great!"
      ICICI FD is good. I am holding this ICICI bank FD for a period of 2 years. One of collegue advised me to invest there . I am getting tax benefits from them and auto renewal options are also avialiable there. This was handled by my father. this was opened online and I got the FD reciept .
      Was this review helpful? 5
      , new delhi
      Reviewed on Apr 16, 2016
    • ICICI Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      For the fixed deposit icici bank was giving 8.75% in 2015-2016 finance year We can start form seven days to ten years. The minimum amount is Rs.10,000 They will charge 1% penalty charge on the particular amount and period if we withdraw the amount in between the lock in period. The good point is that we can access the FD through mobile application.
      Was this review helpful? 5
      , bangalore
      Reviewed on Apr 13, 2016
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