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FD Interest Rate for General and Senior Citizens

FD Interest rates on Domestic, NRO & NRE deposits(Less than ₹5 Crore)

Maturity Period Interest rates (per cent per annum) w.e.f. October 16, 2023 Interest rates (per cent per annum) w.e.f. December 26, 2023
Single deposit of less than 2 Crores Single deposit of 2 Crores & above but less than ₹5 Crores
General Citizen Interest Rates **Senior Citizen Interest Rates General Citizen Interest Rates **Senior Citizen Interest Rates
7 days to 14 days 3.00% 3.50% 4.75% 4.75%
15 days to 29 days 3.00% 3.50% 4.75% 4.75%
30 days to 45 days 3.50% 4.00% 5.50% 5.50%
46 days to 60 days 4.25% 4.75% 5.75% 5.75%
61 days to 90 days 4.50% 5.00% 6.00% 6.00%
91 days to 120 days 4.75% 5.25% 6.50% 6.50%
121 days to 150 days 4.75% 5.25% 6.50% 6.50%
151 days to 184 days 4.75% 5.25% 6.50% 6.50%
185 days to 210 days 5.75% 6.25% 6.75% 6.75%
211 days to 270 days 5.75% 6.25% 6.75% 6.75%
271 days to 289 days 6.00% 6.50% 6.85% 6.85%
290 days to less than 1 year 6.00% 6.50% 6.85% 6.85%
1 year to 389 days 6.70% 7.20% 7.25% 7.25%
390 days to < 15 months 6.70% 7.20% 7.25% 7.25%
15 months to < 18 months 7.10% 7.65% 7.05% 7.05%
18 months to 2 years 7.10% 7.65% 7.05% 7.05%
2 years 1 day to 3 years 7.00% 7.50% 7.00% 7.00%
3 years 1 day to 5 years 7.00% 7.50% 7.00% 7.00%
5 years 1 day to 10 years 6.90% #7.50% 7.00% 7.00%
5 Years (80C FD) – Max to `1.50 lac 7.00% 7.50% NA NA

 

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*NRE rates are only applicable for a tenure of 1 year and above.

**Senior Citizens FD interest rates are only applicable for Domestic Term Deposits.

Special Rates for Senior Citizens:

  • An additional interest rate of 5 basis points (bps) over & above the existing 50 bps, will be paid to Senior Citizens on FDs (less than Rs 2 crore) for tenures of 15 months to less than 18 months and 18 months to less than 2 years

  • An additional interest rate of 10 bps over & above the existing 50 bps, will be paid to Senior Citizens on FDs (less than Rs 2 crore) for tenures of 5 years and above.

Note:

  • As ICICI Bank FD interest rates are subject to change without prior notice, the depositor will ascertain the rates on the value date of the FD
  • Fixed Deposit Interest rate will be subject to Tax Deducted at Source as per Income Tax Laws"(Year)".

  • No interest is payable if the depositor withdraws the entire FD amount within 7 days from the date of deposit, for Domestic and NRO Term 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

  • Minimum amount to open a Domestic FD is Rs 10,000 and NRO/NRE Term Deposit is Rs 25,000

  • These revised Fixed Deposit interest rates will be applicable for new ICICI Bank Fixed Deposits and on renewal of existing Fixed Deposit
  • *Senior Citizen rates are applicable only for Domestic Term Deposits
  • One customer can avail a maximum tax deduction of Rs 1,50,000 from taxable income through an ICICI Bank tax saver FD
  • ICICI Bank staff (including retired staff) will get an additional 1% rate of interest on domestic deposits below Rs 2 crore. 
  • On change of residential status from Non-Resident to Resident, Resident Deposit rate of interest will be applicable.

FD Interest rates on Domestic, NRO & NRE deposits with Premature Withdrawal facility ( ₹5 cr and above )

Single Deposit
Tenure Period
Fixed Deposits Rate of Interest (%p.a.) w.e.f. December 26, 2023
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 6.85 6.85 6.85 6.85
121 days to 150 days 4.75 6.50 4.75 7.00 7.00 7.00 7.00
151 days to 184 days 4.75 6.50 4.75 7.00 7.00 7.00 7.00
185 days to 210 days 4.75 6.75 4.75 7.10 7.10 7.10 7.10
211 days to 240 days 4.75 6.75 4.75 7.10 7.10 7.10 7.10
241 days to 270 days 4.75 6.75 4.75 7.10 7.10 7.10 7.10
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 7.30 7.40 7.30 7.30
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.

ICICI Bank Golden Years FD Interest Rates (w.e.f 16th Oct’23)

 

Now get an exclusive additional interest rate of 0.10% per annum on your Fixed Deposits for a tenure of more than 5 years

 

  • 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, 2020 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.

Premature Withdrawal of Fixed Deposit

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%

 

  1. *1. Subject to revision without further notice.
  2. 2. For premature closure of NRE deposits within 1 year, no interest will be payable and no penalty will be levied.
  3.  

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FD Interest Rates (without Premature Withdrawal facility)

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. December 26, 2023
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 6.85 6.85 6.85 6.85 7.15 7.15 7.15 7.15
121 days to 150 days 7.00 7.00 7.00 7.00 7.35 7.35 7.35 7.35
151 days to 184 days 7.00 7.00 7.00 7.00 7.35 7.35 7.51 7.35
185 days to 210 days 7.25 7.25 7.25 7.25 7.45 7.45 7.45 7.45
211 days to 240 days 7.25 7.25 7.25 7.25 7.45 7.45 7.45 7.45
241 days to 270 days 7.25 7.25 7.25 7.25 7.45 7.45 7.45 7.45
271 days to 300 days 7.35 7.35 7.35 7.35 7.50 7.50 7.50 7.50
301 days to 330 days 7.35 7.35 7.35 7.35 7.50 7.50 7.50 7.50
331 days to < 1 year 7.35 7.35 7.35 7.35 7.50 7.50 7.50 7.50
1 year to 389 days 7.55 7.55 7.55 7.55 7.75 7.60 7.60 7.60
390 days to < 15 months 7.55 7.55 7.55 7.55 7.70 7.55 7.55 7.55
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
7 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.

Frequently Asked Questions (FAQs) About Fixed Deposits

Can I earn monthly interest on my Fixed Deposit?

Yes, you can earn a monthly interest payout on your ICICI Bank Fixed Deposit. Please contact your Relationship Manager for more details.

Is the interest on a Fixed Deposit taxable?

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.

How much interest can I earn on my Fixed Deposit?

You can earn a minimum interest of up to 3.00% p.a. and a maximum interest of up to 7.10% p.a. on your ICICI Bank Fixed Deposit.

How can I maximise Fixed Deposit interest rates?

You can maximise your Fixed Deposit interest rates by opting for a longer tenure (more than 5 years). ICICI Bank offers high Fixed Deposit interest rates of up to 7.65% p.a. for senior citizens and up to 7.10% p.a. for citizens below the age of 60 years..

What are Form 15G and 15H?

Form 15G and Form 15H are forms which a customer can submit to ensure that the Tax Deducted at Source (TDS) is not deducted on the interest income if he/ she meets 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. Log on to www.icicibank.com for submitting. Click here to know more.

When is TDS deducted?

TDS is to be deducted when the interest income earned exceeds Rs 40,000 in a financial year for all resident assessees, except for resident senior citizens. In 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.

Does filing Forms 15G and 15H mean that the interest income is not taxable?

Forms 15G and 15H are only a declaration that no TDS should be deducted on 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.

What are the Interest Rates for Senior Citizens?

ICICI Bank offers competitive rates, providing senior citizens (above 60 years) an attractive rate of up to 7.65% p.a.

Senior citizens get 0.5% additional interest on all tenures compared to general customers. For a tenure of 15 months – 2 years, they can also receive an extra 0.05% interest in addition to the standard additional interest. 

Under ICICI Bank’s Golden Years Fixed Deposit Scheme, senior citizens can enjoy an exclusive additional interest rate of 0.10% on a tenure of more than 5 years.