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Fixed Deposit (FD) Interest Rates 2024 inIndia
ICICI Bank offers interest rates as high as 7.65% p.a. for Senior Citizens (above the age of 60 years) and up to 7.1% p.a. for citizens below 60 years of age. You can always rely on ICICI Bank’s Fixed Deposits for assured returns.
FD Interest Rate for General and Senior Citizens
| Single Deposit Tenure Period |
Fixed Deposits Rate of Interest (%p.a.)Â w.e.f. February 06, 2024 | ||||||
|---|---|---|---|---|---|---|---|
| ₹5.00 crore to <₹5.10 crore | ₹5.10 crore to <₹24.90 crore | ₹24.90 crore to <₹25.00 crore | ₹25.00 crore to <₹100.00 crore | ₹100.00 crore to <₹250.00 crore | ₹250.00 crore to <₹500.00 crore | > = ₹500.00 crore | |
| 7 days to 14 days | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| 15 days to 29 days | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| 30 days to 45 days | 4.75 | 5.50 | 4.75 | 5.50 | 5.50 | 5.50 | 5.50 |
| 46 days to 60 days | 4.75 | 5.75 | 4.75 | 5.75 | 5.75 | 5.75 | 5.75 |
| 61 days to 90 days | 4.75 | 6.00 | 4.75 | 6.00 | 6.00 | 6.00 | 6.00 |
| 91 days to 120 days | 4.75 | 6.50 | 4.75 | 7.10 | 7.10 | 7.10 | 7.10 |
| 121 days to 150 days | 4.75 | 6.50 | 4.75 | 7.15 | 7.15 | 7.15 | 7.15 |
| 151 days to 184 days | 4.75 | 6.50 | 4.75 | 7.15 | 7.15 | 7.15 | 7.15 |
| 185 days to 210 days | 4.75 | 6.75 | 4.75 | 7.20 | 7.20 | 7.20 | 7.20 |
| 211 days to 240 days | 4.75 | 6.75 | 4.75 | 7.20 | 7.20 | 7.20 | 7.20 |
| 241 days to 270 days | 4.75 | 6.75 | 4.75 | 7.20 | 7.20 | 7.20 | 7.20 |
| 271 days to 300 days | 5.00 | 6.85 | 5.00 | 7.25 | 7.25 | 7.25 | 7.25 |
| 301 days to 330 days | 5.00 | 6.85 | 5.00 | 7.25 | 7.25 | 7.25 | 7.25 |
| 331 days to < 1 year | 5.00 | 6.85 | 5.00 | 7.25 | 7.25 | 7.25 | 7.25 |
| 1 year to 389 days | 5.00 | 7.25 | 5.00 | 7.40 | 7.40 | 7.40 | 7.40 |
| 390 days to < 15 months | 5.00 | 7.25 | 5.00 | 7.30 | 7.30 | 7.30 | 7.30 |
| 15 months to < 18 months | 5.00 | 7.05 | 5.00 | 7.05 | 7.05 | 7.05 | 7.05 |
| 18 months to 2 years | 5.00 | 7.05 | 5.00 | 7.05 | 7.05 | 7.05 | 7.05 |
| 2 years 1 day to 3 years | 5.00 | 7.00 | 5.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| 3 years 1 day to 5 years | 5.00 | 7.00 | 5.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| 5 years 1 day to 7 years | 5.00 | 7.00 | 5.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| 7 years 1 day to 10 years | 5.00 | 7.00 | 5.00 | 7.00 | 7.00 | 7.00 | 7.00 |
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Note:
No interest is payable for deposits prematurely withdrawn within a period of 7 days from the date of the deposit, for Domestic & NRO Fixed Deposits
No interest is payable for deposits prematurely withdrawn within a period of 1 year from the date of the deposit, for NRE Term Deposits
These revised interest rates will be applicable for new deposits and on renewal of existing Term Deposits
For FD interest rate-related terms & conditions and other details, contact any ICICI Bank Branch
On change of residential status from Non-Resident to Resident, Resident Deposit rate of interest will be applicable.
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Resident Senior Citizen customers will get an additional interest rate of 0.10% for a limited time, over and above the existing additional rate of 0.50% per annum
Scheme applicable from 20th May, 2020Â to 30th April, 2024
The additional rate will be available on fresh deposits opened as well as on deposits renewed during the scheme period
Eligible FD tenure: 5 years 1 day, up to 10 years
Applicable on single FD opened through ICICI Bank, of an amount less than Rs 2 crore
Premature withdrawal: In case the deposit opened in the mentioned scheme is prematurely withdrawn partially or fully, the applicable penal rate will be 1%
All other features of the FDs as well as terms and conditions remain unchanged and are applicable for the schemes mentioned above.
On pre-mature withdrawal of the DOMESTIC, NRO & NRE deposits:
- Interest will be paid for the period the deposit has remained with the Bank.
Penalty will be levied on the rate applicable, as per the following table.
| Original Tenure of Deposit | Penal Rates* | |
|---|---|---|
| Less than ₹5.0 crore | ₹5.0 crore & 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% |
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- *1. Subject to revision without further notice.
- 2. For premature closure of NRE deposits within 1 year, no interest will be payable and no penalty will be levied.
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Interest rates on DOMESTIC, NRO & NRE DEPOSITS without premature withdrawal facility ( ₹2 cr and above ). These fixed deposits do not have premature withdrawal facility, i.e., the fixed deposit cannot be closed by the depositorbefore the expiry of its term.
| Single Deposit Tenure Period |
Rate of Interest (% p.a.) w.e.f. February 06, 2024 | |||||||
|---|---|---|---|---|---|---|---|---|
| ₹2.00 crore to <₹5.00 crore | ₹5.00 crore to <₹5.10 crore | ₹5.10 crore to <₹24.90 crore | ₹24.90 crore to <₹25.00 crore | ₹25.00 crore to <₹100.00 crore | ₹100.00 crore to <₹250.00 crore | ₹250.00 crore to <₹500.00 crore | >= ₹500.00 crore | |
| 7 days to 14 days | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| 15 days to 29 days | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| 30 days to 45 days | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 |
| 46 days to 60 days | 5.75 | 5.75 | 5.75 | 5.75 | 5.75 | 5.75 | 5.75 | 5.75 |
| 61 days to 90 days | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| 91 days to 120 days | 7.00 | 7.00 | 7.00 | 7.00 | 7.40 | 7.40 | 7.40 | 7.40 |
| 121 days to 150 days | 7.00 | 7.00 | 7.00 | 7.00 | 7.40 | 7.40 | 7.40 | 7.40 |
| 151 days to 184 days | 7.00 | 7.00 | 7.00 | 7.00 | 7.40 | 7.40 | 7.40 | 7.40 |
| 185 days to 210 days | 7.25 | 7.25 | 7.25 | 7.25 | 7.50 | 7.50 | 7.50 | 7.50 |
| 211 days to 240 days | 7.25 | 7.25 | 7.25 | 7.25 | 7.50 | 7.50 | 7.50 | 7.50 |
| 241 days to 270 days | 7.25 | 7.25 | 7.25 | 7.25 | 7.50 | 7.50 | 7.50 | 7.50 |
| 271 days to 300 days | 7.35 | 7.35 | 7.35 | 7.35 | 7.55 | 7.55 | 7.55 | 7.55 |
| 301 days to 330 days | 7.35 | 7.35 | 7.35 | 7.35 | 7.55 | 7.55 | 7.55 | 7.55 |
| 331 days to < 1 year | 7.35 | 7.35 | 7.35 | 7.35 | 7.55 | 7.55 | 7.55 | 7.55 |
| 1 year to 389 days | 7.55 | 7.55 | 7.55 | 7.55 | 7.75 | 7.75 | 7.75 | 7.75 |
| 390 days to < 15 months | 7.45 | 7.45 | 7.45 | 7.45 | 7.60 | 7.60 | 7.60 | 7.60 |
| 15 months to < 18 months | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
| 18 months to 2 years | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
| 2 years 1 day to 3 years | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 |
| 3 years 1 day to 5 years | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 |
| 5 years 1 day to 7 years | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 |
| 7Â years 1 day to 10 years | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 |
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To avail of Fixed Deposits without premature closure facility, contact your Relationship Manager or visit any Branch.
Specific Terms and conditions for deposits without premature withdrawal facility
- These terms and conditions ("Terms") apply to fixed deposits without premature withdrawal facility, opened with ICICI Bank, as per the guidelines prescribed by Reserve Bank of India (RBI) in this regard from time to time ("Fixed Deposit"). These Terms will be in addition to and not in derogation of the terms and conditions governing ICICI Bank Fixed Deposits available on www.icicibank.com ("Primary Terms"). In the event of any contradiction in the Terms and the Primary Terms, these Terms shall prevail.
- These Fixed Deposit do not have premature withdrawal facility i.e. the Fixed Deposit cannot be closed by the depositor before expiry of the term of their term. However, the Bank may allow premature withdrawal of these deposits in following exceptional circumstances: in the event of any direction from any statutory and/or regulatory authority or deceased claim settlement cases.
In the event of premature withdrawal of these deposits under the mentioned exceptional circumstances, the Bank will not pay any interest on the principal amount of the deposit. Any interest credited or paid up to the date of such premature closure will be recovered from the deposit amount.
- Auto renewal facility is not available for such Fixed Deposits at time of opening of the Fixed Deposit account.
- Minimum tenure for traditional NRO FDs without premature withdrawal facility is 3 months and maximum tenure is 10 years
- Minimum tenure for cumulative NRO FDs without premature withdrawal facility is 6 months and maximum tenure is 10 years
- Minimum tenure for NRE Term Deposits is 1 year and no interest is payable for deposits prematurely withdrawn within the period of 1 year from the date of the deposit
- Interest rates and minimum deposit value are subject to change without prior notice.
On change of residential status from Non-Resident to Resident, Resident Deposit rate of interest will be applicable.
FD Interest Rate FAQs
Yes, the interest you earn on your ICICI Bank Fixed Deposit, is taxable as per your income bracket and subject to the Tax Deducted at Source (TDS) as per the income tax laws. You can opt for a Tax Saver Fixed Deposit, where you can save taxes up to Rs 46,800.
You can earn a minimum interest of up to 3.00% per annum and a maximum interest of up to 7.10% per annum on your ICICI Bank Fixed Deposit. ICICI Bank stands out as a reliable choice with one of the best FD rates in India, providing you with secure and lucrative investment options.
Form 15G and Form 15H are forms that a customer can submit to ensure that TDS is not deducted from the interest income if they meet the applicable conditions. Also, the customer must have a Permanent Account Number (PAN) before claiming a Tax exemption through Forms 15G and 15H. ICICI Bank allows these forms to be submitted online through Internet Banking and iMobile Pay app. Visit www.icicibank.com for submission. Click here to know more.
TDS is deducted when the interest income earned exceeds Rs 40,000 in a financial year for all Residents, except for Resident Senior Citizens. In the case of Resident Senior Citizens, TDS is to be deducted when the interest income earned exceeds Rs 50,000 in a financial year. Click here to know more.
Forms 15G and 15H only declare that no TDS should be deducted from your interest income since the Tax on your total income is nil. The interest income from deposits is always taxable. Click here to know more.
ICICI Bank offers best FD Interest rates, up to 7.1% per annum, for General Citizen and up to 7.65% per annum for Senior Citizens (60+). Senior Citizen enjoy an extra 0.5% interest on all tenures and a special 0.10% additional rate for tenures over 5 years through the Golden Years Scheme.
With ICICI Bank, the highest FD interest rate for General Citizens is 7.10% and for Senior Citizens, it is 7.65%. This favourable rate is available for 15 months to 2 years. To secure the best FD rates, consider opting for this tenure, which will ensure an attractive return on your investment.
