ICICI FD Rates In 2023, ICICI Bank’s Regular Fixed Deposit stands as a reliable vehicle for ensuring the steady and effortless growth of your earnings. Boasting attractive interest rates, multiple interest payout options, and a penalty-free premature closure policy, this FD emerges as the optimal investment choice for safeguarding your hard-earned money.
ICICI presents a diverse range of Fixed Deposits, each promising a favorable rate of return and a host of additional benefits. Among the notable features are the nomination facility, flexible tenure options, auto-renewal convenience, various interest payout choices, and the availability of a loan/overdraft facility. The process of opening an ICICI FD online is exceptionally user-friendly, allowing you to initiate it with a simple click, entirely free of paperwork.
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Advantages of Opting for ICICI FD Rates
Commence your investment journey with a modest ₹10,000 as the minimum Fixed Deposit amount. Benefit from flexible tenure options ranging from 7 days to 10 years, allowing you to tailor your investment horizon to meet your financial goals. Unlock financial flexibility by availing a loan or overdraft of up to 90% of your FD amount.
ICICI ensures a trifecta of advantages – competitive rates, flexibility, and security for your fixed deposits. Senior citizens enjoy even higher interest rates, reflecting our commitment to providing inclusive financial solutions. Experience the convenience of booking your deposit through Net-banking and the added benefit of automatic renewal. The minimum investment amount can be as low as INR 10,000, making it accessible for a diverse range of investors.
Rates of Interest for Standard Fixed Deposits
Below, you’ll find the relevant ICICI Fixed Deposit Rates Interest Rates for the specified tenures. These rates, effective from February 24, 2023, have undergone revision, specifically for Retail Domestic Term Deposits ‘Below Rupees One Crore.’ The updated interest rates are outlined below:
Fixed Deposits with Early Withdrawal Option
(All figures in percentage per annum)
- For Domestic & NRE*/NRO Retail Fixed Deposits (Amounts below INR 2 Crore)
Interest rates (percent per annum) effective from February 24, 2023
(Below ₹2 crore)
| General | General | Senior Citizen |
|---|---|---|
| 7 days to 14 days | 3.00% | 3.50% |
| 15 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.50% | 4.00% |
| 46 days to 60 days | 4.25% | 4.75% |
| 61 days to 90 days | 4.50% | 5.00% |
| 91 days to 120 days | 4.75% | 5.25% |
| 121 days to 150 days | 4.75% | 5.25% |
| 151 days to 184 days | 4.75% | 5.25% |
| 185 days to 210 days | 5.75% | 6.25% |
| 211 days to 270 days | 5.75% | 6.25% |
| 271 days to 289 days | 6.00% | 6.50% |
| 290 days to less than 1 year | 6.00% | 6.50% |
| 1 year to 389 days | 6.70% | 7.20% |
| 390 days to < 15 months | 6.70% | 7.20% |
| 15 months to < 18 months | 7.10% | 7.60% |
| 18 months to 2 years | 7.10% | 7.60% |
| 2 years 1 day to 3 years | 7.00% | 7.50% |
| 3 years 1 day to 5 years | 7.00% | 7.50% |
| 5 years 1 day to 10 years | 6.90% | #7.50% |
| 5 Years (80C FD) – Max to ₹1.50 lac | 7.00% | 7.50% |
For a limited time, resident senior citizen customers will receive an additional interest rate of 0.30%, in addition to the existing rate of 0.50% per annum. This extra rate is applicable to fresh deposits opened or renewed during the scheme period. The eligible Fixed Deposit (FD) tenure for this offer ranges from 5 years 1 day up to 10 years. The scheme is valid from 20th May 2020 to 31st December 2020, and it applies to a single FD with an amount less than 2 crore. In the event of premature withdrawal, if the deposit is closed after, on, or after 5 years 1 day, a penal rate of 1.30% will be applicable. If the deposit is prematurely withdrawn or closed before 5 years 1 day, the prevailing premature withdrawal policy will be applicable. All other features and terms of the term deposit remain unchanged and are applicable to this scheme as well. ICICI Fixed Deposit Rates
Premature Withdrawal of Deposit
In the case of premature withdrawal of 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.
ICICI FD Eligibility Criteria
Both new and existing customers of ICICI Bank can open a Fixed Deposit. The following are the types of customers eligible to 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 the principal and accrued interest, safe custody of your FD receipts, and automatic renewal of the Deposit Account on completion of tenure. Loan against the fixed deposit may be 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.
Eligibility:
- Resident Indians
- Hindu Undivided Families
- Sole proprietorship firms
- Partnership firms
- Limited compani
ICICI FD Rates 2023 Frequently Asked Questions (FAQs)
Resident senior citizen customers are eligible for an additional interest rate of 0.30% for a limited time, in addition to the existing extra rate of 0.50% per annum.
The additional rate is available on fresh deposits opened as well as deposits renewed during the scheme period.
The eligible FD tenure for this scheme is 5 years 1 day up to 10 years.
The scheme is applicable from 20th May 2020 to 31st December 2020.
Yes, the scheme is applicable on a single FD of an amount less than 2 crore.
