ICICI Bank Fixed Deposit Rate

ICICI Bank Fixed Deposit

A normal fixed deposit can be booked for a tenure of 7 days or upto 10 years. A minimum balance of Rs. 10,000 needs to be made. The bank offers two plans under this scheme – Traditional and Reinvestment Plans. In the traditional plan, you can earn interest on a quarterly or monthly basis with a maturity period of 7 days upto 10 years. In the reinvestment plan, the interest is compounded on a quarterly basis and reinvested with the principal amount. The tenure varies from 6 months to 10 years.

ICICI Bank Tax Saving Deposit

The ICICI Bank Tax Saving Fixed Deposit helps in getting a tax exemption under Section 80C of the Income Tax Act, 1961. You have the option of choosing from a traditional plan that will pay interest on a quarterly or monthly basis or the Reinvestment Plan wherein the interest is compounded on a quarterly basis and reinvested with the principal amount. A minimum investment of Rs. 10,000 and maximum of Rs.1,50,000 can be made for a 5-year period.

ICICI Bank Money Multiplier Deposit

ICICI Bank Money Multiplier Deposit offers the liquidity of a savings account and the high returns of an FD. The Fixed Deposit is linked to your savings bank account. Under this scheme, the 390 days Money Multiplier deposit offers an attractive rate of interest for 390 days. The linked FD offers high rate of interest on the Savings Bank Deposits. The FD needs to be created in multiples of rs. 5000/-for a minimum tenure of one year.

ICICI Bank Security Deposit

This scheme is targeted at employees of corporate companies. It helps in keeping tabs on the attrition rate while helping the employees make their own savings. It offers the employees to create a Security Deposit in the form of a Fixed Deposit that can be withdrawn only with the consent of the company. There are higher earnings on this type of deposit.

Interest Rate on ICICI Bank Fixed Deposit

The interest rate on Fixed Deposit with ICICI Bank varies with the amount deposited and maturity period. The interest rate varies from 3% up to 7.75%.

In a fixed deposit, the invested money cannot be taken out before the maturity period ends. If you end up pulling out the money, it will attract penalty. Once the deposit matures, the bank credits the principal amount plus the interest to the bank account. It is a fixed rate of interest that is earned on the investment throughout the tenure except in case of floating rate.

ICICI Bank Fixed Deposit Rates

ICICI Bank offers competitive interest rates on fixed deposits in the market. It is critical to note that these interest rates are subject to change any time. It is required to check the prevailing rates before booking a deposit. An overview of the interest rates offered by ICICI Bank is mentioned below.

Interest Rates on Domestic, NRO and NRE Deposits (less than Rs. 1 cr)

How to Calculate ICICI Bank Fixed Deposit Interest

ICICI Bank Fixed Deposit Premature Withdrawal Penalty

There are times when we need immediate liquidity to meet our financial requirements or there is a financial emergency when money is required. It is possible to break an FD to plug in this need. The bank charges a penalty in such situations depending on a full closure or a partial withdrawal. The minimum penalty charged is 0.50% depending on the period of FD. Once a request has been placed for breaking a FD, it cannot be cancelled.

ICICI Bank Fixed Deposit Rate FAQ