ICICI BankFixed Deposit|ICICI Bank Fixed Deposit Rates-– Interest Rate, Calculator & Benefits

Fixed Deposit Details

Bank Name

ICICI Bank

Eligibility

Individuals and entities who are residents, Hindu Undivided Families, Sole Proprietorship firms, Partnership firms, Limited Companies, Trust Accounts, Non-Resident Indians, Indians, and Minors with Guardianship. The Savings account should be KYC verified.

Interest Rate

Up to 7.80% per annum.

Tenure

6 months to 10 years.

Fixed Deposit Type

Regular

Standalone Fixed Deposit

Tax Benefits

Credit Ratings

CARE AAA, [ICRA]AAA

Interest Payment Frequency

Monthly, quarterly or keep it invested till maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.

Cummulative/Non-Cummulative

Both

Features

• With a standalone FD, you can open an account with ICICI Bank for a minimum tenure of 6 months, while the maximum is 10 years. The minimum amount needed to start a deposit is Rs 10,000 and the maximum is Rs 1 lakh.
• One of the primary advantages of Standalone FDs is the independence from opening a linked Savings Account. This simplifies the investment process and caters to individuals who may not wish to maintain multiple accounts.

Minimum Investment Amount

10,000

Features & Benefits

Pros

• Attractive interest rates
• Flexible tenure
• Easy to open

Cons

No tax benefits.

Pros & Cons

How to Open?

Here’s a step-by-step guide on how to do it:

• Access Your Account :Begin by logging into your ICICI Bank account using either Internet Banking or the iMobile Pay app.
• Navigate to the FD Section :Once logged in, find the section related to Fixed Deposits. You’ll typically find this under the ‘Investments’ or ‘Savings’ tab.
• Fill Out the FD Form : Provide the necessary details: Investment Amount : Specify the amount you wish to deposit. Tenure or Duration : Choose the duration of the FD. Select the duration based on your financial goals.
• Select Payout Plan : Decide how you want to receive the interest accumulated on your FD.
• Review and Confirm :Before submitting your FD application, review all the details you’ve entered. Ensure that the investment amount, tenure, and payout plan align with your preferences and financial requirements.

Product Review