ICICI Bank Fixed Deposit Interest Rates and more
ICICI Bank offers competitive Fixed Deposit interest rates, ensuring guaranteed returns with flexible tenure options. Senior citizens enjoy additional benefits on select FDs.
Fixed Deposits (FDs) have been a favorite investment tool for those who desire financial security and stable returns. ICICI Bank provides high FD interest rates with flexible tenure options, thus being the best choice for short-term as well as long-term investors. ICICI Bank, being a digital-first bank, now makes it simple to open an FD account, giving customers an easy and rewarding banking experience.
In this uncertain market era, a Fixed Deposit is still a secure and trustworthy investment, providing capital protection and assured returns. In contrast to market-linked products, FDs provide assured returns with no chance of loss of capital. If you want to save for a future outlay, retirement, or even to accumulate your assets gradually, an ICICI Bank FD gives you a safe and convenient way to achieve your financial objectives.
Why Choose ICICI Bank Fixed Deposits?
ICICI Bank FDs have several advantages that make them unique in the market. Investors can open an FD with a minimum of Rs 10,000 for domestic accounts and Rs 25,000 for NRO/NRE accounts. Customers also enjoy the convenience of choosing from various payout options, such as monthly, quarterly, and maturity payouts.
ICICI Bank offers competitive interest rates on various tenure options ranging from a minimum of seven days to a maximum of ten years. Senior citizens are given an extra 0.60% interest rate for specific tenures, leading to greater returns on their savings.
ICICI Bank FD Highest Interest Rates
| Tenure | With Premature Withdrawal | With Premature Withdrawal |
|---|---|---|
| General Citizen | Senior Citizen | |
| 7 to 45 Days | 3.00% | 3.50% |
| 46 to 90 Days | 4.00% | 4.50% |
| 91 to 184 Days | 4.50% | 5.00% |
| 185 to 270 Days | 5.50% | 6.00% |
| 271 Days to < 1 Year | 5.75% | 6.25% |
| 1 Year 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% |
| 5Y (Tax Saver FD) | 6.60% | 7.10% |
For the general public, the best FD rates are available for tenures between 15 months and 18 months at a competitive rate of 6.35%. Senior citizens have an interest rate hike to 6.85% for the same tenure, and hence it's a great option for retirees. ICICI Bank also provides tax-saving FDs with a five-year lock-in period for its customers, wherein they can claim tax benefits under Section 80C of the Income Tax Act.
Premature Withdrawal and Penalties
Premature withdrawals can be availed of by ICICI Bank FDs, but there are penalties charged for closing the account early. If an FD is closed before maturity, the interest rate applicable will be recalculated according to the period for which the deposit was kept in the bank. A maximum penalty of 1.50% is charged, based on the deposit size and tenure. But no interest is earned if the FD is withdrawn within seven days of opening.
ICICI Bank FD Features
- Overdraft Facility: The customer can enjoy an overdraft against his FD, which keeps him liquid at the time of need.
- Auto-Renewal: Auto-renewal feature ensures that the FDs remain invested without break, continuing to earn interest.
- Tax-Saving Options: Customers can invest in a five-year FD to save tax while getting competitive returns.
- NRE/NRO FD Benefits: NRIs can make investments in ICICI Bank's NRE/NRO FDs with high interest rates and repatriation advantage.
ICICI Bank's Fixed Deposits offer a secure and trustworthy investment option with assured returns. With competitive interest rates, flexible tenor choices, and extra advantages like an overdraft facility and auto-renewal, ICICI Bank FDs suit the varied requirements of investors. No matter if you're an elderly person in search of guaranteed returns or an earning member to accumulate riches, ICICI Bank FD programs present the right proportion of protection and expansion. Leap forward with the opening of ICICI Bank Fixed Deposit today and put your monetary future in firm form!