NRE/NRO Account Interest Rates
How is Savings Account Interest Rates Calculated?
Savings Bank Account interest will be calculated on the basis of end of day account balance maintained in savings bank account, at the rate of interest as specified by ICICI Bank time to time
With effective from 4th June 2020, the savings account interest rate applicable would be:
3% for end of day account balance of below ₹50 Lacs
3.5% for end of day account balance of ₹ 50 Lacs & above.
Interest is calculated on a daily basis on the daily closing balance in the Account, at the rate specified by ICICI Bank in accordance with Reserve Bank of India directives. The interest amount calculated is rounded off to the nearest rupee. With effect from March 30, 2016, interest will be paid quarterly in March, June, September and December.
| Interest rates (percent per annum) w.e.f. October 1, 2020 | ||
|---|---|---|
| Currency | USD | GBP |
| Savings Bank account | 0.25 | 0.10 |
Interest will be paid half-yearly in March and September.
Interest rates (percent per annum*) with effect from February 24th, 2023 |
|
| Maturity Period | Less than INR 20.0 million (For deposits with quarterly payouts and cumulative deposits) |
|---|---|
| 1 year to 389 days | 6.70% |
| 390 days to < 15 months | 6.70% |
| 15 months to < 18 months | 7.10% |
| 18 months upto 2 years | 7.10% |
| 2 years 1 day upto 3 years | 7.00% |
| 3 years 1 day upto 5 years | 7.00% |
| 5 years 1 day upto 10 years | 6.90% |
- For deposit rates INR 20.0 million and above click here Refer interest rates updated under " Fixed Deposits > INTEREST RATES ON DOMESTIC, NRO & NRE DEPOSITS.
- *Percentage Per Annum after quarterly compounding. Nearest completed year considered for end of slab.
- In case of premature withdrawals:
- Before completion of 1 year: No interest will be payable and no penalty will be levied.
- After completion of 1 year: On premature withdrawal of the deposit, interest will be calculated at the rate applicable for the period for which the deposit was held with the Bank or contracted rate of the deposit whichever is lower, plus applicable penalty as below:
| Original Tenure of Deposit | Penal rates (in %) | ||
|---|---|---|---|
| Less than INR 50 million | INR 50 million & above | ||
| 1 year & above but less than 5 years | 1.00 | 1.00 | |
| 5 years and above | 1.00 | 1.50 | |
- NRE fixed deposits can be accepted for a minimum period of one year and a maximum period of ten years.
- NRE Recurring Deposits can be accepted for a minimum tenure of 12 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
- The additional rate of interest of 0.5% p.a. payable on fixed deposits to senior citizens does not apply to NRE and NRO Fixed Deposits.
- In case of NRE fixed deposits with monthly payouts , the interest will be paid at a discounted rate.
- Penalty on delayed instalment for recurring deposits: Penalty is charged at monthly interest at the rate of INR. 12 per INR. 1,000 for all delayed instalments. Fraction of a month will be treated as full month for the purpose of calculating such interest. The total interest so chargeable shall be recovered from the total amount of interest payable at the time of maturity.
- On change of residential status i.e. from Non- Resident to Resident deposits, resident deposit rate of interest shall be applicable.
- These revised Fixed Deposit interest rates will be applicable for new ICICI Bank Fixed Deposits and renewal of existing Term Deposits.
- For terms & conditions and any other details, please contact your nearest ICICI Bank Branch.
| Maturity Period | Interest rates (percent per annum*) with effect from February 24th, 2023 | |
|---|---|---|
| Single Deposit of less than INR 20.0 million | ||
| 7 days to 14 days | 3.00% | |
| 15 days to 29 days | 3.00% | |
| 30 days to 45 days | 3.50% | |
| 46 days to 60 days | 4.25% |
|
| 61 days to 90 days | 4.50% | |
| 91 days to 120 days | 4.75% | |
| 121 days to 184 days | 4.75% | |
| 185 days to 270 days | 5.75% | |
| 271 days to 289 days | 6.00% | |
| 290 days < 1 year | 6.00% | |
| 1 year to 389 days | 6.70% | |
| 390 days to < 15 months | 6.70% | |
| 15 months to < 18 months | 7.10% | |
| 18 months upto 2 years | 7.10% | |
| 2 years 1 day upto 3 years | 7.00% | |
| 3 years 1 day upto 5 years | 7.00% | |
| 5 years 1 day upto 10 years | 6.90% | |
| 5 Years (80C FD) | 7.00% | |
*Subject to revision without further notice
Note:
- For deposit rates INR 20.0 million and above click here Refer interest rates updated under " Fixed Deposits > INTEREST RATES ON DOMESTIC NRO & NRE DEPOSITS.
- NRO Recurring Deposits can be accepted for a minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
- Additional 0.5% rate of interest payable on fixed deposits for senior citizens does not apply to NRE and NRO fixed deposits
- Please note that the minimum tenure for NRO term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days
- After completion of 7 days: On premature withdrawal of the deposit, interest will be calculated at the rate applicable for the period for which the deposit was held with the Bank or contracted rate of the deposit whichever is lower, plus applicable penalty as below:
- In case of NRO fixed deposits with monthly payouts , the interest will be paid at a discounted rate
- Penalty on delayed instalment for recurring deposits: Penalty is charged at monthly interest at the rate of INR. 12 per INR. 1,000 for all delayed instalments. Fraction of a month will be treated as full month for the purpose of calculating such interest. The total interest so chargeable shall be recovered from the total amount of interest payable at the time of maturity.
Penalty for pre-mature withdrawal (all categories):
| Original Tenure of Deposit | Penal rates (in %) | ||
|---|---|---|---|
| Less than INR 50 million | INR 50 million & above | ||
| Less than 1 year | 0.50 | 0.50 | |
| 1 year & above but less than 5 years | 1.00 | 1.00 | |
| 5 years and above | 1.00 | 1.50 | |
| Interest rates (percent per annum) w.e.f April 7th 2023 |
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | GBP | CAD | AUD | SGD | HKD | |||||||
| 12 months | 5.00 | 4.25 | 4.00 | 3.50 | 3.25 | 3.50 | |||||||
| >12 months < 15 months | 4.75 | 4.25 | 4.00 | 3.50 | 3.25 | 3.50 | |||||||
| >=15 months < 24 months | 4.50 | 4.25 | 3.75 | 3.50 | 3.00 | 3.50 | |||||||
| >= 24 months < 36 months | 4.00 | 4.00 | 3.25 | 3.50 | 2.75 | 3.25 | |||||||
| >= 36 months< 48 months | 3.60 | NA | NA | NA | NA | NA | |||||||
| >= 48 months< 60 months | 3.35 | NA | NA | NA | NA | NA | |||||||
| 60 months | 3.30 | NA | NA | NA | NA | NA | |||||||
| Interest rates (percent per annum) w.e.f April 3rd 2023 | ||||
|---|---|---|---|---|
| Currency | USD | GBP | ||
| Overnight and upto 30 days | **** | **** | ||
| 30 days to less than 6 months | 0.75 | 0.25 | ||
| 6 months to less than 1 year | 1.00 | 0.50 | ||
| 12 month | 5.00 | 4.25 | ||
| >12 mths < 15 mths | 4.75 | 4.25 | ||
| >=15 mths < 24 mths | 4.50 | 4.25 | ||
| >= 24 mths < 36 mths | 4.00 | 4.00 | ||
| 36 months | 3.60 | NA | ||
- On premature withdrawal of the deposit, interest will be calculated at the rate applicable for the period for which the deposit was held with the Bank or contracted rate of the deposit whichever is lower, plus 1% penalty
Penalty for pre-mature withdrawal :
| Maturity Period | Interest rates (percent per annum*) with effect from August 19th , 2022 | ||
|---|---|---|---|
| Single Deposit of less than INR 20.0 million | |||
| 7 days to 14 days | 2.75% | ||
| 15 days to 29 days | 2.75% | ||
| 30 days to 45 days | 3.25% | ||
| 46 days to 60 days | 3.25% | ||
| 61 days to 90 days | 3.25% | ||
| 91 days to 120 days | 3.75% | ||
| 121 days to 184 days | 3.75% | ||
| 185 days to 289 days | 4.65% | ||
| 290 days to less than 1 year | 4.65% | ||
| 1 year to 389 days | 5.50% | ||
| 390 days to < 18 months | 5.50% | ||
| 18 months upto 2 years | 5.50% | ||
| 2 years 1 day upto 3 years | 5.60% | ||
| 3 years 1 day upto 5 years | 6.10% | ||
| 5 years 1 day upto 10 years | 5.90% | ||
| 5 Years (80C FD) | 6.10% | ||
*Subject to revision without further notice
Note:
- For deposit rates INR 20.0 million and above click here Refer interest rates updated under " Fixed Deposits > INTEREST RATES ON DOMESTIC & NRO DEPOSITS.
- NRO Recurring Deposits can be accepted for a minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
- Additional 0.5% rate of interest payable on fixed deposits for senior citizens does not apply to NRE and NRO fixed deposits
- Please note that the minimum tenure for NRO term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days
- After completion of 7 days: On premature withdrawal of the deposit, interest will be calculated at the rate applicable for the period for which the deposit was held with the Bank or contracted rate of the deposit whichever is lower, plus applicable penalty as below:
- In case of NRO fixed deposits with monthly payouts , the interest will be paid at a discounted rate
- Penalty on delayed instalment for recurring deposits: Penalty is charged at monthly interest at the rate of INR. 12 per INR. 1,000 for all delayed instalments. Fraction of a month will be treated as full month for the purpose of calculating such interest. The total interest so chargeable shall be recovered from the total amount of interest payable at the time of maturity.
Penalty for pre-mature withdrawal (all categories):
| Original Tenure of Deposit | Penal rates (in %) | ||
|---|---|---|---|
| Less than INR 50 million | INR 50 million & above | ||
| Less than 1 year | 0.50 | 0.50 | |
| 1 year & above but less than 5 years | 1.00 | 1.00 | |
| 5 years and above | 1.00 | 1.50 | |
Click here to know the Fund transfer limits.
