If you are in quest of the best bank to invest your hard-earned money to attain outstanding returns, then look no further than ICICI Bank. The Fixed Deposit scheme is the best that you can get. Fixed Deposits are financial products that let a depositor place money in a bank account for a predetermined amount of time at a specific interest rate. Most people use it to save money. The ICICI Bank Fixed Deposit (FD) scheme has been dominating this market with its appealing rates of interest and flexible tenures for decades. There are many different types of FDs registered with different banks, each offering different benefits. Also, compared to what other banks have to offer, the ICICI Bank’s FD Rates are the finest.
Table of Contents
- ICICI Bank FD Interest Rates
- ICICI Interest Rates on Domestic / NRO / NRE Deposits of Below INR 2 Cr and above but less than 5 Cr
- ICICI Interest Rates for Domestic / NRO / NRE Deposits of INR 5 Cr and Above With Premature Withdrawal
- HDFC Interest Rates for Domestic / NRO / NRE Deposits of INR 2 Cr and Above With Out Premature Withdrawal
- Types of Deposits in ICICI Bank
- Eligibility and Documents Required to Open ICICI Fixed Deposit
- How To Apply for ICICI Bank Fixed Deposit?
- Tax on ICICI Fixed Deposit
- Loan Against ICICI Bank Fixed Deposit
- Penalty on Premature Closure of ICICI FD
- FAQs on ICICI Bank FD Rates
- Conclusion
ICICI Bank FD Interest Rates
Fixed deposit plans are a simple, effective approach to increase the return you receive on your investments. Your hard-earned money is protected by the ICICI Bank FD scheme, which also assists you in promptly achieving your financial objectives. ICICI FD Interest Rates range from 3.00% to 5.75% annually as of March 2023, depending on the deposit type and tenure. Investors can select the variable tenure offered by ICICI Bank, which ranges from 7 days to 10 years, based on their financial objectives. with its affordable interest rates, adaptable term lengths, and solid reputation.
ICICI Interest Rates on Domestic / NRO / NRE Deposits of Below INR 2 Cr and above but less than 5 Cr
Please check the ICICI FD Rates on Domestic deposits of below INR 2 Cr.
| Maturity Period | Interest rates (Percent Per Annum) w.e.f. February 24, 2023 | Interest Rates (Percent Per Annum) w.e.f. March 18, 2023 | ||
| Single Deposit of Less than Rs. 20.0 million | Single Deposit of Rs. 20.0 mn & Above but Less than 50.0 mn | |||
| General | **Senior Citizen | General | **Senior Citizen | |
| 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% | 6.65% | 6.65% |
| 211 days to 270 days | 5.75% | 6.25% | 6.65% | 6.65% |
| 271 days to 289 days | 6.00% | 6.50% | 6.75% | 6.75% |
| 290 days to less than 1 year | 6.00% | 6.50% | 6.75% | 6.75% |
| 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% | 7.60% | 7.15% | 7.15% |
| 18 months to 2 years | 7.10% | 7.60% | 7.15% | 7.15% |
| 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% | 6.75% | 6.75% |
| 5 years 1 day to 10 years | 6.90% | #7.50% | 6.75% | 6.75% |
| 5 Years (80C FD) – Max to `1.50 lac | 7.00% | 7.50% | NA | NA |
Disclaimer:
The depositor should confirm the rates on the FD value date as the ICICI Bank FD interest rates are subject to change without prior notice.
ICICI Interest Rates for Domestic / NRO / NRE Deposits of INR 5 Cr and Above With Premature Withdrawal
The table below depicts the ICICI interest ICICI FD Interest Rates 2023 of INR 5 Cr and above with premature withdrawal.
| Single Deposit Tenure Period | Fixed Deposits Rate of Interest (%P.A.) w.e.f. March 18, 2023 | ||||||
| Rs. 5.00 crore to < Rs. 5.10 crore | Rs. 5.10 crore to < Rs. 24.90 crore | Rs. 24.90 crore to < Rs. 25.00 crore | Rs. 25.00 crore to < Rs. 100.00 crore | Rs. 100.00 crore to < Rs. 250.00 crore | Rs. 250.00 crore to < Rs. 500.00 crore | > = Rs. 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 | 5.5 | 4.75 | 5.5 | 5.5 | 5.5 | 5.5 |
| 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 | 4.75 | 6 | 6 | 6 | 6 |
| 91 days to 120 days | 4.75 | 6.5 | 4.75 | 6.75 | 6.75 | 6.75 | 6.75 |
| 121 days to 150 days | 4.75 | 6.5 | 4.75 | 6.75 | 6.75 | 6.75 | 6.75 |
| 151 days to 184 days | 4.75 | 6.5 | 4.75 | 6.75 | 6.75 | 6.75 | 6.75 |
| 185 days to 210 days | 4.75 | 6.65 | 4.75 | 6.9 | 6.9 | 6.9 | 6.9 |
| 211 days to 240 days | 4.75 | 6.65 | 4.75 | 6.9 | 6.9 | 6.9 | 6.9 |
| 241 days to 270 days | 4.75 | 6.65 | 4.75 | 6.9 | 6.9 | 6.9 | 6.9 |
| 271 days to 300 days | 5 | 6.75 | 5 | 7 | 7 | 7 | 7 |
| 301 days to 330 days | 5 | 6.75 | 5 | 7 | 7 | 7 | 7 |
| 331 days to < 1 year | 5 | 6.75 | 5 | 7 | 7 | 7 | 7 |
| 1 year to 389 days | 5 | 7.25 | 5 | 7.3 | 7.3 | 7.3 | 7.3 |
| 390 days to < 15 months | 5 | 7.25 | 5 | 7.3 | 7.3 | 7.3 | 7.3 |
| 15 months to < 18 months | 5 | 7.15 | 5 | 7.15 | 7.15 | 7.15 | 7.15 |
| 18 months to 2 years | 5 | 7.15 | 5 | 7.15 | 7.15 | 7.15 | 7.15 |
| 2 years 1 day to 3 years | 5 | 7 | 5 | 7 | 7 | 7 | 7 |
| 3 years 1 day to 5 years | 5 | 6.75 | 5 | 6.75 | 6.75 | 6.75 | 6.75 |
| 5 years 1 day to 7 years | 5 | 6.75 | 5 | 6.75 | 6.75 | 6.75 | 6.75 |
| 7 years 1 day to 10 years | 5 | 6.75 | 5 | 6.75 | 6.75 | 6.75 | 6.75 |
Disclaimer:
Depositors are required to confirm interest rates as of the FD value date because they are subject to change without notice. According to income tax legislation, tax will be withheld at source from interest payments made on fixed deposits.
HDFC Interest Rates for Domestic / NRO / NRE Deposits of INR 2 Cr and Above With Out Premature Withdrawal
Please check the table below to find out the updated ICICI Bank FD Interest Rates of NRO/NRE deposits without premature withdrawal of INR 2 Cr and above.
| Single Deposit Tenure Period | Rate of Interest (% P.A.) w.e.f. March 18, 2023 | |||||||
| Rs. 2.00 crore to < Rs. 5.00 crore | Rs.5.00 crore to < Rs. 5.10 crore | Rs. 5.10 crore to < Rs. 24.90 crore | Rs. 24.90 crore to < Rs. 25.00 crore | Rs. 25.00 crore to < Rs. 100.00 crore | Rs. 100.00 crore to < Rs. 250.00 crore | Rs. 250.00 crore to < Rs. 500.00 crore | > = Rs. 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 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 |
| 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 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| 91 days to 120 days | 6.85 | 6.85 | 6.85 | 6.85 | 7 | 7 | 7 | 7 |
| 121 days to 150 days | 6.85 | 6.85 | 6.85 | 6.85 | 7 | 7 | 7 | 7 |
| 151 days to 184 days | 6.85 | 6.85 | 6.85 | 6.85 | 7 | 7 | 7 | 7 |
| 185 days to 210 days | 7 | 7 | 7 | 7 | 7.25 | 7.25 | 7.25 | 7.25 |
| 211 days to 240 days | 7 | 7 | 7 | 7 | 7.25 | 7.25 | 7.25 | 7.25 |
| 241 days to 270 days | 7 | 7 | 7 | 7 | 7.25 | 7.25 | 7.25 | 7.25 |
| 271 days to 300 days | 7.15 | 7.15 | 7.15 | 7.15 | 7.5 | 7.5 | 7.5 | 7.5 |
| 301 days to 330 days | 7.15 | 7.15 | 7.15 | 7.15 | 7.5 | 7.5 | 7.5 | 7.5 |
| 331 days to < 1 year | 7.15 | 7.15 | 7.15 | 7.15 | 7.5 | 7.5 | 7.5 | 7.5 |
| 1 year to 389 days | 7.35 | 7.35 | 7.35 | 7.35 | 7.75 | 7.75 | 7.75 | 7.75 |
| 390 days to < 15 months | 7.35 | 7.35 | 7.35 | 7.35 | 7.55 | 7.55 | 7.55 | 7.55 |
| 15 months to < 18 months | 7.35 | 7.35 | 7.35 | 7.35 | 7.45 | 7.45 | 7.45 | 7.45 |
| 18 months to 2 years | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 |
| 2 years 1 day to 3 years | 7.3 | 7.3 | 7.3 | 7.3 | 7.3 | 7.3 | 7.3 | 7.3 |
| 3 years 1 day to 5 years | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| 5 years 1 day to 7 years | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| 7 years 1 day to 10 years | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
Disclaimer:
Interest rates and minimum deposit value are subject to change without prior notice.
Types of Deposits in ICICI Bank
To meet the needs and interests of its clients, ICICI Bank offers a variety of deposits. Traditional fixed deposits as well as more adaptable choices like recurring deposits and tax-saving deposits are all included in this list. The many deposit categories each have unique characteristics, such as differing interest rates, terms, and minimum deposit amounts. To assist clients in making an informed decision when selecting a deposit that best meets their financial goals, this article will give a quick summary of the different types of deposits offered by ICICI Bank, ICICI Bank FD Interest Rates 2023 as well as their features.
Regular Fixed Deposit
The interest rate on the Regular FDs that ICICI Bank offers varies according to the tenure and the amount invested, and they are available for terms ranging from 7 days to 10 years. A minimum deposit of Rs. 10,000 can be made by customers under his programme. Longer terms and larger deposit amounts are associated with higher interest rates. Other options include auto-renewal and early withdrawal.
ICICI Bank Golden Years FD
A fixed deposit programme made exclusively for senior citizens is the ICICI Bank Golden Years FD (60 years and above). On this page, you can easily get the ICICI Senior Citizen FD Rates. In addition to the current additional rate of 0.50%, it offers an additional interest rate of 0.10% for a brief period. Additionally, it offers advantages including a free health examination, no penalties for early withdrawal owing to hospitalisation, and an optional sweep-in facility. The programme offers various interest payout options and has a tenure range of 5 to 10 years.
Money Multiplier FD
A form of fixed deposit programme that enables consumers to receive bigger returns on their investments is the ICICI Bank Money Multiplier FD. The way it operates is by automatically reinvesting interest from the initial deposit into the FD account, raising the principal and therefore raising the income earned. The scheme offers adjustable interest payout options and a duration that ranges from six months to ten years. With a minimum deposit of Rs. 10,000, it can be opened and offers a borrowing opportunity against the FD.
Tax Saver FD
Under Section 80C of the Income Tax Act of 1961, the ICICI Bank Tax Saver FD fixed deposit programme offers tax advantages to its clients. A 100 rupee minimum deposit is required, and there is a 5-year lock-in term. Hindu Undivided Families and individuals can both open accounts under the system, which gives a greater interest rate than standard fixed deposits (HUFs). Although the principle amount of the deposit is deductible up to Rs. 1.5 lakhs under Section 80C, the interest earned on the deposit is taxable.
ICICI FD Xtra
With its ICICI Bank FD Xtra scheme, ICICI Bank has you covered if you’re seeking for something extra in your fixed deposit account. It offers a wide range of products, including FD Life, FD Invest, FD Income, and FD Card, which give customers additional benefits. In addition to safety, monthly income, credit cards, critical illness insurance, and the chance to make larger returns, FD Xtra’s four versions give customers additional benefits and options.
ICICI Fixed Deposit Monthly Income
With the option to receive a portion of the income as a lump payment, ICICI Bank FD Income delivers consistent monthly income for the period of your choice. You can put a set amount into your account, and then later on, you can take advantage of the monthly income it produces. The adjustable tenure of the ICICI Bank Fixed Deposit Rates provided under this programme ranges from 6 months to 10 years. Customers can opt to receive their interest profits monthly or quarterly, and the minimum deposit amount is Rs. 25,000.
ICICI Recurring Deposit With Monthly Income
Customers who participate in the ICICI Bank Recurring Deposit with Monthly Income programme receive a monthly income. Customers who want to save a set amount each month and have a reliable stream of income should use it. Customers are required to deposit a set amount each month into the system, which is then invested at the current interest rate. As the deposit reaches maturity, the principle and interest are paid to the customer, who then has the option of either renewing the deposit or withdrawing the money.
ICICI Fixed Deposit Without Premature Withdrawal
For deposits of Rs. 2 crore and above, ICICI Fixed Deposit Without Premature Withdrawal is another well-liked FD option. The programme offers a quarterly payout choice. Quarterly principal investments are made along with the compounded interest. The deposit does not have a facility for an early withdrawal, as the shame indicates. Moreover, it cannot be opened in the auto-renewal mode while a fixed deposit is opened.
Eligibility and Documents Required to Open ICICI Fixed Deposit
Customers who wish to apply for ICICI Fixed Deposit need to satisfy the eligibility criteria and should also carry the required documents.
Eligibility Criteria
To open a fixed deposit account with ICICI Bank, an individual needs to meet the following eligibility criteria:
- The individual should be an Indian resident or an NRI.
- The individual should be at least 18 years of age.
- The individual should have a PAN card or should have applied for one.
Documents Required
Documents required to open an ICICI Bank fixed deposit account are as follows:
- Identity proof such as Aadhaar card, Passport, Voter ID, or Driving License.
- Address proof such as Aadhaar card, Passport, Voter ID, Driving License, or utility bill.
- PAN card or Form 60/61 (if PAN card is not available).
- Two recent passport size photographs.
In case the customer is an NRI, the following additional documents may be required:
- Proof of NRI status such as passport and visa.
- Foreign address proof such as a utility bill.
- A copy of the overseas bank statement or NRE/NRO account statement.
- A certificate of employment and income proof.
How To Apply for ICICI Bank Fixed Deposit?
Customers can apply for an FD account via a variety of techniques, and opening an ICICI Bank fixed deposit account is a simple process. Customers can fill out an application form in person at any ICICI Bank branch or request the opening of an FD account over the phone in addition to applying online using the ICICI Bank website or mobile banking app. Customers will receive their FD account information after their application has been accepted, and they can fund the account in a number of ways. In general, applying for an ICICI Bank fixed deposit is straightforward, and consumers can select the approach that works best for them. Check the ICICI Bank FD Rates 2023 from the preceding tables before submitting.
Open ICICI Fixed Deposit Online Through Netbanking
Follow the below steps to open a fixed deposit (FD) account with ICICI Bank through netbanking:
- Log in to your ICICI Bank netbanking account using your user ID and password.
- Once you are logged in, navigate to the ‘Accounts’ section and select ‘Fixed Deposit’ from the drop-down menu.
- Click on the ‘Open FD’ option.
- Select the account from which you want to deposit your FD account.
- Choose the tenure and the amount you wish to deposit.
- Choose whether you want to auto-renew the FD on maturity or not.
- Verify the details and confirm the opening of the FD account.
- Once the FD account is opened, transfer the funds from your selected account to the FD account.
- Your FD account will be activated once the funds are transferred successfully.
Open ICICI Fixed Deposit by Using iMobile App
Check the ICICI Bank Fixed Deposit Interest Rates on this page before applying for ICICI FD. The process to create a Fixed Deposit using the iMobile App of ICICI is pretty easy.
- Open the iMobile Pay on your mobile and login using your fingerprint or pin.
- On login click on the ‘Accounts and Deposits’ tab.
- Click on ‘Deposits (FD/RD)’ and click on ‘Open FD’.
- Enter the deposit amount and choose the Investment Period and also Interest Payout option.
- Choose the ‘Debit Account’ from which the investment amount will be debited and click on ‘Submit’ to create the FD using iMobile app.
Open ICICI Fixed Deposit by Visiting Nearest Branch
Here is the process to apply for ICICI Bank Fixed Deposit Offline by visiting nearest branch:
- Visit the nearest ICICI branch
- Talk to the respective authority about opening an FD account with them and seek their help.
- Fill the application form with all appropriate details and submit the necessary document.
- Handover the fixed deposit amount along with the documents.
- Your FD will be created immediately and you will be handed over the receipt.
Tax on ICICI Fixed Deposit
Fixed Deposits (FDs) are considered as a type of investment and the interest earned on them is taxable as per the Income Tax Act, 1961. The tax is applicable to the interest earned during the financial year and not on the principal amount. For resident Indians, interest income up to Rs. 10,000 per annum is exempt from tax, under Section 80TTA of the Income Tax Act. For senior citizens (aged 60 years or more), interest income up to Rs. 50,000 per annum is exempt from tax under Section 80 TTB of the Income Tax Act.
Customers can calculate the tax using the ICICI FD Calculator. If your total interest income from all sources exceeds these limits, you will need to pay tax on the interest earned from your ICICI FD. The tax rate will depend on your income tax slab, which is based on your total income for the financial year. It is important to note that ICICI Bank deducts TDS (Tax Deducted at Source) on interest earned from FDs if the interest amount exceeds Rs. 40,000 per annum. The TDS rate is currently 10%, but this may vary based on the prevailing tax laws.
Loan Against ICICI Bank Fixed Deposit
ICICI bank offers loans against Fixed Deposit to its customers who own FD deposits with the bank. The loan amount is decided based on the FD amount deposited with the bank. The FD amount is considered as the collateral for the loan amount you have acquired. Mostly, the loan amount will be 90% of the principal amount. The bank provides loans to self as well as third party individuals. The loan repayment can be either adjusted from the fixed deposit amount or can be settled separately.
Other than the loan, you can also get an overdraft from the bank on your fixed deposit amount. With the loan against FD, you can easily fulfill your short-term and long-term financial goals. The bank provides flexible loan repayment tenure up to 18 months. If you are in urgent need of money, a loan against FD is the best option you can go for. The loan approval and disbursal takes place in no time compared to other loans.
The benefits of loan against FD is that there are no additional processing fees included while sanctioning the loan. Instead of canceling the FD and taking out the money to take care of urgent needs, taking out a loan on the amount is the best choice one can make. Moreover, the interest rate on loans against FD is much lower than other kinds of loans. You can make use of ICICI Bank FD Calculator to find out the loan you can acquire on your FD.
Penalty on Premature Closure of ICICI FD
Fixed deposits are a great way to save earnings and also make good and guaranteed returns on those savings. ICICI bank offers different types of FDs for its customers with an option to withdraw the deposited amount if in need. The premature withdrawal however comes with a penalty which the bank decides based on various factors like the deposit amount, period for which the deposit is kept with the bank, interest rate of the deposit, etc.
Customers can instantly raise a request for premature closures of their fixed deposit which will be processed in less than a day. However, it is not possible to cancel the request raised for premature withdrawal of FD. While the closure process for regular FDs can be carried out online, for Linked or Money Multiplier FDs, the customer has to visit the nearest bank and place the request.
FAQs on ICICI Bank FD Rates
Below are few FAQs on ICICI Bank FD Rates for customers having queries about various interest rates and deposits in ICICI Bank.
How to break FD in ICICI bank online?
Breaking a fixed deposit (FD) in ICICI Bank online can be done through their internet banking portal or mobile banking app. You can login to your ICICI Bank internet banking account and choose the FD account that you want to break and select the ‘Break FD’ option.
What is linked FD in ICICI bank?
An ICICI Bank linked FD is a specific kind of fixed deposit account connected to a savings or current account. The advantages of a traditional fixed deposit account are offered by this sort of FD, together with the convenience of quick fund access.
How to check FD account in ICICI online?
To check your Fixed Deposit (FD) account in ICICI Bank online, you have to log in to your ICICI Bank internet banking account or mobile banking app using your username and password. Select the ‘Fixed Deposits’ option and choose your FD account, which will display the details of your FD.
What is FD interest rate in ICICI bank?
ICICI Bank offers various fixed deposit (FD) schemes with different tenures and interest rates. The interest rates offered by ICICI Bank on FDs depend on the tenure of the deposit and can also vary depending on the type of customer, such as regular or senior citizen. The average interest offered by ICICI bank on FD for the tenure of 5 years to 10 years is 6.60%. The ICICI Bank FD Rates for Senior Citizens is much higher and the bank gives 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.
How many Fixed Deposits can be opened in ICICI?
Customers of ICICI Bank are permitted to open several fixed deposits (FDs) with various terms and deposit amounts. The maximum number of FD accounts a customer may open with ICICI Bank is unspecified.
How to apply for credit card against FD in ICICI bank?
Applying for a credit card using a fixed deposit (FD) account is an option provided by ICICI Bank. Logging into your ICICI Bank internet banking account or mobile banking app is required to access the “Cards” and “Credit Cards” section of the application process for a credit card secured by an FD with the bank. Under “Secured Credit Cards,” click the “Apply Now” option. After providing the required information, submit the application. The credit card will be issued by ICICI Bank and delivered to the address you have on file.
Conclusion
The attractive FD rates provided by ICICI Bank might aid investors in achieving their financial objectives. Customers can enjoy consistent returns on their investments with the security and stability of a reputable financial institution by selecting the appropriate tenure and interest rate. To make an informed choice that best meets their unique needs and financial goals, investors should conduct their own research and compare rates from other institutions. You can bookmark our website, Moneycompass.net, if you are looking to invest in an FD and have been looking for the interest rates and other information of various banks. We are a dedicated website that hosts the most recent information about interest rates of different banks.