Icici Fixed Deposit Rates
If a senior citizen puts a fixed deposit, the interest rate applicable to the FD will be 6.25 percent under the special FD scheme. ICICI Bank special FD scheme for senior citizens Close. Fixed Deposit is an investment option that is provided by banks and Non-Banking Financial Companies (NBFCs) to facilitate the expansion of your wealth safely and securely. If you are interested in fixed deposits as an option for saving taxes, opt for a Tax Saver FD and benefit from Fixed Deposit. The interest rate is for a 1 year domestic deposit with a balance less than Rs. 2 Crore for a period between 1 year to 389 days The rate of 7.10% is 2.15% higher than the average 4.95%. Also it is 0.65% lower than the highest rate 7.75 Updated Aug, 2019. ICICI fixed deposit interest rate for tax saver FD is 5.35% for regular citizens whereas it is 5.85% for senior citizens. For short term FDs, i.e. Ones m aturing in 1 year ICICI Bank offers interest rates at 4.90% and for longer duration like 3, 5 and 10 years, it is 5.15%, 5.35% and 5.50% currently (0.50% preferential for senior citizens). ICICI Bank offers 2.5% interest rate on fixed deposit for maturity period of 7-14 days. ICICI Bank, the country’s second largest private sector bank, currently offers 17 maturity options with varied interest rates on fixed deposits up to Rs 2 crore with an option of pre-mature withdrawal.
Table of Contents
- 1 About ICICI Home Finance Company Fixed Deposit
- 1.1 Important features and advantages of ICICI HFC fixed deposit
About ICICI Home Finance Company Fixed Deposit
ICICI Home Finance Company offers retail fixed deposit to investors. It is one of the safest and most profitable saving scheme for those who are looking for higher returns. ICICI HFC offers higher rate of interest and at the same time flexibility allowing for effective compounding or liquidity depending on a depositor’s financial needs. ICICI fixed deposit is available for different tenure. The different tenure also affect the rate of interest as well. However, these deposits are easy to open and manage.
These fixed deposits are very safe and offer timely fulfillment of financial obligation. The ICICI HFC fixed deposits have given the highest rating of MAAA by ICRA and AAA (FD) by CARE respectively.
Important features and advantages of ICICI HFC fixed deposit
- ICICI HFC has the highest credit rate of AAA (FD) by CARE and MAAA by ICRA
- It offers flexible tenure to choose from 1 year to maximum 5 years
- The fixed deposit interest is compounded on yearly basis
- You can choose from monthly, quarterly or yearly compound interest as per your needs
- The minimum amount to deposit in ICICI HFC fixed deposit depends upon the saving scheme you have opted. However, it varies from minimum Rs. 10,000 to Rs. 40,000
- It offers nomination facility to the depositor
- No tax deduction will be made on interest paid Rs. 5000 in a financial year
- ICICI HFC offers 0.25% higher rate of interest for senior citizens
- It also offers loan facility against the fixed deposit of upto 75%
- Premature withdrawal facility
Premature withdrawal is not allowed for the initial three months.
In case of event of premature withdrawal, you have to follow the below term and conditions:
| Premature Withdrawal | Rate of interest payable |
|---|---|
| After 3 months but before 6 months | For individual depositors the maximum interest payable shall be 4% p.a., and no interest in case of other category of depositors. |
| After 6 months but before 12 months | 2% lower than the minimum rate at which public deposits are accepted by ICICI HFC |
| After 12 months but before the date of maturity | 1% lower than the interest rate at which ICICI HFC would have paid had the deposit been accepted for the period for which such deposit has run. |
| Duration | Non cumulative Scheme | Cumulative Scheme | Extra Benfits | Who Can Invest? | |||
|---|---|---|---|---|---|---|---|
| Yearly | Half-yearly | Quarterly | Monthly | Interest | |||
| 12 Months | 8.20% p.a. | -- | 7.95% p.a. | 7.90% p.a. | 8.20%p.a | ||
| 15 Months | 8.20% p.a. | -- | 7.95% p.a. | 7.90% p.a. | 8.20%p.a | ||
| 20 Months | 8.25% p.a. | - | 8.00% p.a. | 7.95% p.a. | 8.25% p.a. | 0.25% extra for senior citizen across all slabs | Resident Individual, NRI, Trusts, Companies, HUF's, AOP |
| 30 Months | 8.25% p.a. | - | 8.00% p.a | 7.95%p.a. | 8.25% p.a. | ||
| 35 Months | 8.25%p.a. | - | 8.00%p.a | 7.95%p.a. | 8.25% p.a. | ||
| 40 Months | 8.50%p.a. | - | 8.25%p.a. | 8.20%p.a | 8.50%p.a. | ||
| 60 Months | 8.25%p.a. | - | 8.00%p.a. | 7.95%p.a. | 8.25% p.a. |
ICICI new FD rates: Many banks have been lowering their deposit rates citing surplus liquidity. Now, ICICI Bank, a private sector lender has revised its fixed deposit rates, applicable form today.
Also, Earlier this month, on June 4, ICICI Bank had cut interest rates on savings account deposits of less than ₹50 lakh to 3%, a reduction of by 25 bps as against 3.25% earlier. Likewise, for deposits of ₹50 lakh and above, the account holders will earn an interest of 3.50%, down from 3.75%.
Currently, banks have ample liquidity and comparatively less demand for loans due to the lockdown. This has put pressure on deposit rates.
Starting from an interest rate of 2.75% on FD deposits between 7 days to 14 days, ICICI Bank is currently offering 5.15% on deposits between 1 year to 389 days. Customers get 5.35% on FDs with maturity between 18 months days and 2 years 5.35% which rises to 5.50% on deposits of over three years.
Senior citizens get an additional interest rate of 50 basis points across all maturities.
ICICI Bank FD rates on deposits below ₹2 crores (general public):
7 days to 14 days 2.75%
15 days to 29 days 3.00%
30 days to 45 days 3.25%
46 days to 60 days 3.50%
61 days to 90 days 3.50%
91 days to 120 days 4.10%
Icici Bank Fixed Deposit
121 days to 184 days 4.10%
185 days to 210 days 4.50%
211 days to 270 days 4.50%
271 days to 289 days 4.50%
290 days to less than 1 year 4.75%
1 year to 389 days 5.15%
390 days to < 18 months 5.15%
18 months days to 2 years 5.35%
2 years 1 day to 3 years 5.35%
3 years 1 day to 5 years 5.50%
5 years 1 day to 10 years 5.50%
5 Years (80C FD) – Max to ₹1.50 lakh 5.50%
ICICI Bank FD rates on deposits below ₹2 crores (senior citizens):
7 days to 14 days 3.25%
15 days to 29 days 3.50%
30 days to 45 days 3.75%
46 days to 60 days 4%
61 days to 90 days 4%
91 days to 120 days 4.6%
121 days to 184 days 4.6%
185 days to 210 days 5%
211 days to 270 days 5%
271 days to 289 days 5%
290 days to less than 1 year 5.25%
1 year to 389 days 5.65%
390 days to < 18 months 5.65%
18 months days to 2 years 5.85%
2 years 1 day to 3 years 5.85%
3 years 1 day to 5 years 6%
Icici Bank Fd
5 years 1 day to 10 years 6.3% (ICICI Bank Golden Years FD)
Icici Fixed Deposit Rates Calculator
5 Years (80C FD) – Max to ₹1.50 lakh 5.50%