Ensure Safety of Your Returns by Investing in ICICI Fixed Deposit

Looking for safety in your investment returns? Choose fixed deposit for your investment, an ideal mechanism whereby you can park away your money for a specified time period. It gives you guaranteed returns which come along with the safety of your principal amount upon maturity. If you are looking for prompt delivery of services, look for ICICI Bank fixed deposit which offers you the flexibility of booking your FD online by using various channels like Internet banking or phone banking or by visiting any nearby ICICI Bank branch. It offers an attractive interest rate on fixed deposits starting from even on a minimum amount of ₹10,000 for general customers and ₹2,000 for minors. The premature withdrawals can be sought from the bank in multiples of ₹1,000 subject to the applicable charges. However, the bank provides other benefits such as availing loan facility, auto renewal facility and using your ICICI fixed deposit against loan against property as well.

ICICI Fixed Deposit Scheme

There are three fixed deposit schemes offered by ICICI Bank :

1. Fixed Deposits (with premature withdrawal facility)

The fixed deposit with premature withdrawal facility with ICICI Bank possess the following features:

• The minimum amount to book an FD is ₹ 10,000

• The tenures vary from 7 days to 10 years

• The loan/overdraft can be granted upto 90% of FD amount.

• The fixed deposit can be booked by using  modes such as Other Bank VISA Debit Card, ATM/Debit Card, Internet Banking, phone banking, mobile banking, twitter banking or visit  your ICICI Bank branch & ATM.

2. Fixed Deposits(without premature withdrawal facility)

The features of fixed deposits without premature withdrawal facility are :

1. Fixed deposit cannot be closed by the customer before the expiry of the term of such deposit. However, the closure will be considered under exceptional circumstances such as the direction prescribed by any statutory or regulatory authority or deceased claim settlement cases.

2. In the event of premature withdrawal, the Bank will not be paying any interest on the principal amount of the deposit. Any interest credited or paid upto the premature date closure will be recovered from the deposit amount.

3. The Auto renewal facility is not available for such deposit. However, the customer is required to issue renewal instructions within 30 days before the maturity date of such deposit.

3. ICICI Fixed Deposit Tax Exemption

Book your fixed deposit under tax saving scheme which offers you an exemption on your savings under Section 80C of the Income Tax Act, 1961. With a minimum investment of ₹10,000 and a maximum of ₹150,000, tax saving fixed deposit can be booked for a period of 5 years. The customers can also nominate a single nominee to their account proceeds, no matter if it is held solely or jointly. Moreover, the customers are required to fill a form prescribed under the Banking Companies(Nomination Rules), 1985. The tax saving FD can be booked via other Bank VISA Debit Card or using ICICI Bank ATM/Debit Card or using ICICI Bank Internet banking/phone banking or by visiting a nearby ICICI Bank branch.

ICICI Fixed Deposit Interest Rates 2017

The interest rates applicable to the general public for less than ₹ 1 crore are as follows :

• 7 days to 14 days the rate of interest is 4.00%

• 15 days to 29 days the rate of interest is 4.25%

• 30 days to  45 days the rate of interest is 5.50%

• 46 days to 60 days the rate of interest is 5.75%

• 61 days to 289 days the rate of interest is 6.25%

• 290 days to less than 1 year the rate of interest is 6.50%

• 1 year to 2 years the rate of interest is 6.90%

• 2 years 1 day upto 5 years the rate of interest is 6.75%

• 5 years 1 day upto 10 years the rate of interest is 6.50%

• 5 years tax saver FD (Max. Upto ₹ 1.50 lakhs) the rate of interest is 6.75%

The interest rates applicable to the senior citizen for less than ₹ 1 crore are as follows:

• 7 days to 14 days the rate of interest is 4.50%

• 15 days to 29 days the rate of interest is 4.75%

• 30 days to  45 days the rate of interest is 6.00%

• 46 days to 60 days the rate of interest is 6.25%

• 61 days to 289 days the rate of interest is 6.75%

• 290 days to less than 1 year the rate of interest is 7.00%

• 1 year to 2 years the rate of interest is 7.40%

• 2 years 1 day upto 5 years the rate of interest is 7.25%

• 5 years 1 day upto 10 years the rate of interest is 7.00%

• 5 years tax saver FD (Max. Upto ₹ 1.50 lakhs) the rate of interest is 7.25%