ICICI FD Rates 2020, ICICI Bank Fixed Deposit Rates – up to 6.30%
ICICI FD Rates 2020: ICICI Bank’s Regular Fixed Deposit ensures that your earnings grow steadily and effortlessly. Its key features like attractive interest rates, multiple interest payout options, and zero penalty on premature closure make it the ideal investment for your hard-earned money.
The ICICI offers a wide range of Fixed Deposits (FDs) that offer a good rate of return and come with various other benefits. Some of the features of ICICI FDs include nomination facility, flexible tenure options, auto renewal facility, different interest payout options, loan/overdraft facility, Etc. It is very easy to open an ICICI FD online and this can be done at the click of a button in a paper-free manner.
Key Benefits for ICICI FD Rates
- Minimum Fixed Deposit amount of ₹ 10,000
- Flexibility of tenure – 7 days to 10 years
- Loan / Overdraft upto 90% of FD amount
ICICI offer you great rates, flexibility and security for your fixed deposits, with even higher interest for our senior citizens. Enjoy our facilities of booking your deposit through Net-banking, and the facility of automatic renewal. Minimum investment amount can be as low as INR 10000/-
Interest Rates for Regular Fixed Deposit
Mentioned below are the applicable Fixed Deposit Interest Rates for the mentioned tenures. The below mentioned Fixed Deposit Interest rates are effective from 14th July 2020. Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees One Crore ‘have been revised. The revised interest rates are as under :
Fixed Deposits (with premature withdrawal facility)
(All figures in % per annum)
1. For Domestic & NRE*/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore)
|Maturity Period||Interest rates (per cent per annum) w.e.f. July 14, 2020|
|Single deposit of less than ₹ 2 Crore|
|7 days to 14 days||2.50%||3.00%|
|15 days to 29 days||2.50%||3.00%|
|30 days to 45 days||3.00%||3.50%|
|46 days to 60 days||3.00%||3.50%|
|61 days to 90 days||3.00%||3.50%|
|91 days to 120 days||4.10%||4.60%|
|121 days to 184 days||4.10%||4.60%|
|185 days to 210 days||4.50%||5.00%|
|211 days to 270 days||4.50%||5.00%|
|271 days to 289 days||4.50%||5.00%|
|290 days to less than 1 year||4.75%||5.25%|
|1 year to 389 days||5.15%||5.65%|
|390 days to < 18 months||5.15%||5.65%|
|18 months days to 2 years||5.35%||5.85%|
|2 years 1 day to 3 years||5.35%||5.85%|
|3 years 1 day to 5 years||5.50%||6.00%|
|5 years 1 day to 10 years||5.50%||6.30%|
|5 Years (80C FD) – Max to ₹ 1.50 lac||5.50%||6.00%|
- As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD.
- Interest earned on the Fixed Deposit will be subject to Tax Deducted at Source as per Income Tax laws.
- Minimum tenure for Domestic & NRO term deposits 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 deposit.
- These revised interest rates will be applicable for new deposits and renewal of existing term deposits.
- *Senior Citizen rates applicable only for domestic term deposit.
- #The maximum aggregate amount that can be invested in the Tax Saver FD (80C FD) under a single PAN is ₹150,000 and the same cannot be closed prematurely before expiry of the lock-in period of 5 years.
- ICICI bank staff (including retired staff) will get additional 1% rate of interest on domestic deposit below ₹ 2 Cr.
Premature withdrawal of deposit:
On pre-mature withdrawal of the DOMESTIC, NRO & NRE deposits:
- Interest will be calculated at the rate applicable for the period the deposit has actually remained with ICICI Bank.
- 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%|
ICICI FD Eligibility Criteria
- Both new and existing customers of ICICI Bank can open a Fixed Deposit.
- Following are the types of customers who can open fixed deposit accounts: Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Cooperative Society, Trusts, Partnerships, NGO and, Private Limited.
- Avail of a loan facility up to 90% of principal and accrued interest, safe custody of your FD receipts and automatic renewal of Deposit Account on completion of tenure.
- Loan against the fixed deposit maybe given to the depositors at the discretion of the bank.
How to Apply for ICICI FD
- Apply Online
- You can also contact us and our Customer Care Executive will fix a service appointment with our Relationship Manager to help you with the application process.
- Resident Indians
- Hindu Undivided Families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts