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Now you can invest in ICICI Bank’s Fixed Deposits through the digital and branch channel for a fixed tenure, as per your convenience. You can multiply your savings with high FD interest rates through an ICICI Bank FD. ICICI Bank offers interest rates as high as 7.6% 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. With the current uncertainty and highly volatile market, you can always rely on ICICI Bank’s Fixed Deposits for assured and guaranteed returns. An ICICI Bank FD is one of the safest FDs and rated as “AAA”, beating any competition with ease.
- Resident Senior Citizen customers will get an additional interest rate on an FD 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
- The additional rate will be available on fresh deposits opened as well as 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- Premature withdrawal on FD: In case a Fixed Deposit is opened and the above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the applicable penal rate will be 1.00% with effect from March 14 , 2023. In case the deposit opened in the above scheme is prematurely withdrawn/closed before 5 years 1 day, the prevailing premature withdrawal policy will be applicable.
- All other features of the FD Deposits as well as terms and condition unchanges and are applicable for the above-mentioned schemes.
| Single Deposit Tenure Period |
Fixed Deposits Rate of Interest (%p.a.) w.e.f. August 22, 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 | 6.75 | 6.75 | 6.75 | 6.75 |
| 121 days to 150 days | 4.75 | 6.50 | 4.75 | 6.75 | 6.75 | 6.75 | 6.75 |
| 151 days to 184 days | 4.75 | 6.50 | 4.75 | 6.75 | 6.75 | 6.75 | 6.75 |
| 185 days to 210 days | 4.75 | 6.65 | 4.75 | 7.00 | 7.00 | 7.00 | 7.00 |
| 211 days to 240 days | 4.75 | 6.65 | 4.75 | 7.00 | 7.00 | 7.00 | 7.00 |
| 241 days to 270 days | 4.75 | 6.65 | 4.75 | 7.00 | 7.00 | 7.00 | 7.00 |
| 271 days to 300 days | 5.00 | 6.75 | 5.00 | 7.15 | 7.15 | 7.15 | 7.15 |
| 301 days to 330 days | 5.00 | 6.75 | 5.00 | 7.15 | 7.15 | 7.15 | 7.15 |
| 331 days to < 1 year | 5.00 | 6.75 | 5.00 | 7.15 | 7.15 | 7.15 | 7.15 |
| 1 year to 389 days | 5.00 | 7.25 | 5.00 | 7.25 | 7.25 | 7.25 | 7.25 |
| 390 days to < 15 months | 5.00 | 7.25 | 5.00 | 7.25 | 7.25 | 7.25 | 7.25 |
| 15 months to < 18 months | 5.00 | 7.00 | 5.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| 18 months to 2 years | 5.00 | 7.00 | 5.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| 2 years 1 day to 3 years | 5.00 | 6.75 | 5.00 | 6.75 | 6.75 | 6.75 | 6.75 |
| 3 years 1 day to 5 years | 5.00 | 6.75 | 5.00 | 6.75 | 6.75 | 6.75 | 6.75 |
| 5 years 1 day to 7 years | 5.00 | 6.75 | 5.00 | 6.75 | 6.75 | 6.75 | 6.75 |
| 7 years 1 day to 10 years | 5.00 | 6.75 | 5.00 | 6.75 | 6.75 | 6.75 | 6.75 |
Note:
- Minimum tenure for Domestic & NRO Fixed Deposit is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit.
- 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
- These revised interest rates will be applicable for new deposits and renewal of existing term deposits.
- For FD Interest Rate related terms & conditions and any other details, please contact your nearest ICICI Bank Branch
- On change of residential status i.e. from Non- Resident to Resident deposits, resident deposit rate of interest shall be applicable.
On pre-mature withdrawal of the DOMESTIC, NRO & NRE deposits:
- FD 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:
- Penalty will be levied on the rate applicable as per the table below
| 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. 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
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 depositor before expiry of the term of such deposit.
| Single Deposit Tenure Period |
Rate of Interest (% p.a.) w.e.f. August 22, 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 | 6.25 | 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 | 7.00 | 7.00 | 7.00 | 7.00 |
| 121 days to 150 days | 6.85 | 6.85 | 6.85 | 6.85 | 7.00 | 7.00 | 7.00 | 7.00 |
| 151 days to 184 days | 6.85 | 6.85 | 6.85 | 6.85 | 7.00 | 7.00 | 7.00 | 7.00 |
| 185 days to 210 days | 7.00 | 7.00 | 7.00 | 7.00 | 7.30 | 7.25 | 7.25 | 7.25 |
| 211 days to 240 days | 7.00 | 7.00 | 7.00 | 7.00 | 7.25 | 7.25 | 7.25 | 7.25 |
| 241 days to 270 days | 7.00 | 7.00 | 7.00 | 7.00 | 7.25 | 7.25 | 7.25 | 7.25 |
| 271 days to 300 days | 7.15 | 7.15 | 7.15 | 7.15 | 7.45 | 7.40 | 7.40 | 7.40 |
| 301 days to 330 days | 7.15 | 7.15 | 7.15 | 7.15 | 7.40 | 7.40 | 7.40 | 7.40 |
| 331 days to < 1 year | 7.15 | 7.15 | 7.15 | 7.15 | 7.40 | 7.40 | 7.40 | 7.40 |
| 1 year to 389 days | 7.35 | 7.35 | 7.35 | 7.35 | 7.45 | 7.40 | 7.40 | 7.40 |
| 390 days to < 15 months | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 |
| 15 months to < 18 months | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 |
| 18 months to 2 years | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 |
| 2 years 1 day to 3 years | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| 3 years 1 day to 5 years | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| 5 years 1 day to 7 years | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| 7 years 1 day to 10 years | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
For availing Fixed Deposit without premature closure facility, please contact your relationship manager or visit the nearest 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 shall 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.
- The Fixed Deposit does not have premature withdrawal facility i.e. the Fixed Deposit cannot be closed by the depositor before expiry of the term of such deposit. 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 above mentioned exceptional circumstances, the Bank will not pay any interest on the principal amount of the deposit. Any interest credited or paid upto 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 i.e. from Non- Resident to Resident deposits, resident deposit rate of interest shall be applicable.
Yes, now you can avail a monthly interest payout on your ICICI Bank FD. Please contact your Relationship Manager for more details.
Yes, the interest earned on your ICICI Bank FD is taxable as per your income bracket. Interest earned from your ICICI Bank FD is subject to the Tax Deducted at Source, as per income tax laws. You can opt for a tax saver FD where you can save taxes up to Rs 46,800.
You can now earn a minimum interest rate of up to 3.00% p.a. and a maximum interest rate of up to 7.10% p.a. on an ICICI Bank FD.
You can maximise your FD interest rates by opting for the highest tenure (more than 5 years). ICICI Bank gives you the highest FD interest rates of up to 7.60 % p.a. for Senior Citizens and up to 7.10% p.a. for citizens below the age of 60 years.
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. To know more, please click here
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. To know more, please click here
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. To know more, click here
