ICICI Bank FD Rates: Learn the Right Method to Double Your Earning

Do you have an account in ICICI Bank, or are you looking forward to choosing a safer investment plan such as a fixed deposit in this financial institution? Well, in that case, you are in the right place. Here’s a detailed guide on ICICI bank FD rates. But before this, let us briefly describe the bank itself.

ICICI Bank is one of India’s largest and most popular private sector banks. It provides its customers with a wide range of banking services and products, including savings accounts, current accounts, debit cards, credit cards, loans, insurance, and investments.

The bank also offers Fixed Deposit (FD) accounts to its customers at competitive rates of interest. ICICI Bank FD rates are among the most attractive options for Indian customers.

All About ICICI Bank FD Rates

ICICI FD rates are offered with tenure ranging from 7 days to 10 years. The interest rate is applicable depending on the deposit amount and tenure chosen. For FDs with tenures ranging from 7 days to 6 months, the interest rate is 2.90% per annum and for FDs with tenures ranging from 7 months to 10 years, the interest rate is 5.50% per annum.

The interest rate offered by ICICI Bank is higher than the rates offered by most banks in India. In addition to attractive interest rates, ICICI Bank also provides its customers with the flexibility of choosing the tenure of their FD. The bank also offers special FD schemes for senior citizens, enabling them to earn higher interest rates on their deposits. Moreover, customers can also avail of additional benefits.

Interest Rates: Domestic Fixed Deposits (Less than Rs.2 crore)

Check out the below list for complete information on ICICI Bank FD rates within Rs. 2 Crores of investment:-

Tenure	Interest Rate for General Citizens (p.a.)	Interest Rate for Senior Citizens (p.a.)
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%

Interest Rates: Domestic Fixed Deposits (Above Rs.2 crore)

Check out the table below for complete information on ICICI Bank FD rates for more than Rs. 2 Crores of investment plan:-

Tenure	Interest Rate for General Citizens (p.a.)	Interest Rate for Senior Citizens (p.a.)
7 days to 14 days	4.75%	4.75%
15 days to 29 days	4.75%	4.75%
30 days to 45 days	5.50%	5.50%
46 days to 60 days	5.75%	5.75%
61 days to 90 days	6.00%	6.00%
91 days to 120 days	6.50%	6.50%
121 days to 150 days	6.50%	6.50%
151 days to 184 days	6.50%	6.50%
185 days to 210 days	6.65%	6.65%
211 days to 270 days	6.65%	6.65%
271 days to 289 days	6.75%	6.75%
290 days to less than 1 year	6.75%	6.75%
1 year to 389 days	7.15%	7.15%
390 days to < 15 months	7.15%	7.15%
15 months to < 18 months	7.15%	7.15%
18 months to 2 years	7.15%	7.15%
2 years 1 day to 3 years	7.00%	7.00%
3 years 1 day to 5 years	6.75%	6.75%
5 years 1 day to 10 years	6.75%	6.75%
5 Years (80C FD) – Max to `1.50 lac	NA	NA

Interest Rates: Domestic Fixed Deposits: Above Rs.5 crore with Premature Withdrawal

ICICI Bank FD rates that are offered for more than Rs. 5 Crores with premature withdrawal are listed with the tenure information:-

Tenure	Rs.5.00 crore to less than Rs.5.10 crore	Rs.5.10 crore to less than Rs.24.90 crore	Rs24.90 crore to less than Rs.25.00 crore	Rs.25.00 crores and above
7 days to 14 days	4.75	4.75	4.75	4.75
15 days to 29 days	4.75	4.75	4.75	4.75
30 days to 45 days	4.75	5.5	4.75	5.5
46 days to 60 days	4.75	5.75	4.75	5.75
61 days to 90 days	4.75	6	4.75	6
91 days to 120 days	4.75	6.5	4.75	6.65
121 days to 150 days	4.75	6.5	4.75	6.65
151 days to 184 days	4.75	6.5	4.75	6.65
185 days to 210 days	4.75	6.65	4.75	6.8
211 days to 240 days	4.75	6.65	4.75	6.8
241 days to 270 days	4.75	6.65	4.75	6.8
271 days to 300 days	5	6.75	5	6.9
301 days to 330 days	5	6.75	5	6.9
331 days to < 1 year	5	6.75	5	6.9
1 year to 389 days	5	7.15	5	7.25
390 days to < 15 months	5	7.15	5	7.2
15 months to < 18 months	5	7.15	5	7.15
18 months to 2 years	5	7.15	5	7.15
2 years 1 day to 3 years	5	7	5	7
3 years 1 day to 5 years	5	6.75	5	6.75
5 years 1 day to 7 years	5	6.75	5	6.75
7 years 1 day to 10 years	5	6.75	5	6.75

ICICI Bank NRI FD Rates

If you are an NRI and want to invest in ICICI FD rates, the following table has all the related information.

ICICI NRE FD Rates (Below Rs.2 crore)

ICICI FD rates on Non-Resident External account by an NRI investing for less than Rs. 2 Crores amount can avail below listed interest rates for the defined tenure.

Tenure	For General Public (p.a.)
1 year to 389 days	6.70%
390 days to less than 15 months	6.70%
15 months to less than 18 months	7.10%
18 months to 2 years	7.10%
2 years 1 day to 3 years	7.00%
3 years 1 day to 5 years	7.00%
5 years 1 day to 10 years	6.90%

ICICI NRO FD Rates (Below Rs.2 crore)

ICICI FD rates on NRO accounts investment done by an NRI for less than Rs. 2 crores are listed with the specified tenure:-

Tenure	Interest Rates (p.a.)
7 days to 14 days	3.00%
15 days to 29 days	3.00%
30 days to 45 days	3.50%
46 days to 60 days	4.25%
61 days to 90 days	4.50%
91 days to 120 days	4.75%
121 days to 184 days	4.75%
185 days to 270 days	5.75%
271 days to 289 days	6.00%
290 days < 1 year	6.00%
1 year to 389 days	6.70%
390 days to < 15 months	6.70%
15 months to < 18 months	7.10%
18 months upto 2 years	7.10%
2 years 1-day upto 3 years	7.00%
3 years 1 day upto 5 years	7.00%
5 years 1 day upto 10 years	6.90%
5 Years (80C FD)	7.00%

ICICI FCNR FD Rates

ICICI FCNR FD rates are counted on the sum invested by the NRI in foreign currency in fixed deposits with defined terms and tax-free.

Tenure	USD	GBP	CAD	AUD	SGD	HKD
Above 1 year to less than 15 months	5.2	4	4	3.55	3.5	3.75
Above 15 months to less than 2 years	4.75	4	4	3.55	3.5	3.75
Above 2 years to less than 3 years	4.25	3.75	3.75	3.55	3.25	3.75
Above 3 years to less than 4 years	3.6	NA	NA	NA	NA	NA
Above 4 years to less than 5 years	3.35	NA	NA	NA	NA	NA
5 years	3.3	NA	NA	NA	NA	NA

Types: ICICI Bank FDs

Here are the types of ICICI Bank FD available to cherish a safe and productive way of warning interest:-

Tax Saver FD
Money Multiplier FD
ICICI Bank Golden Years FD (Only for resident senior citizens)
Regular FD

Factors Affecting ICICI Bank FD Interest Rates

Here are the three major reasons affecting ICICI Bank FD rates:-

Penalties

Certain fines are imposed on premature withdrawals on fixed deposits done by the investors. These have a decided bracket that falls from 0.50 per cent to 1.00 per cent on the interest earned by the investor. Point to be noted that the penalty may differ depending upon the bank’s policy.

Loss of Interest

Loss of interest happens when the investors withdraw the amount deposited to the bank prior to maturity. In this, calculating the amount to get back after withdrawal may not have the exact amount of interest the investor is eligible for. It might also exclude the fines, in case imposed on the interest.

Break on the Financial Growth

In case the investor is looking forward to breaking the fixed deposit, the schemes and benefits applied to the plan will be dismissed. In such cases, a halt in interest gains might be witnessed. Hence, it is advisable to ensure the continuity of the deposits to gain attractive ICICI FD interest rates.

Features and Benefits of ICICI Bank FD

Below mentioned are the perks of investing in ICICI Bank FD interest rates that every investor must know:-

Confirms returns on every investment made in the bank.
Beneficial interest rates than the competition.
Customers can avail of loans against the bank balance available in the account.
Customers need to adhere to the minimum deposit of Rs.10,000.
An ICICI FD interest rate can be easily availed by opening an account using internet banking/mobile banking.
Safety is guaranteed for any type of investment that is done.

Penalty Charges: Premature Withdrawal of Fixed Deposits

If the investor decides to withdraw the amount deposited to their ICICI Bank account, they will be penalised. Point to be noted that the charges will differ for each financial institute. However, the penalty imposed by ICICI Bank ranges between 0.50% to 1%.

TDS on ICICI Fixed Deposit

Check out the TDS imposed on ICICI Bank FD interest rates in the table given below:-

Income Type	TDS Rate
Salary	Slab Rate
Fixed Deposit Interest	10%
Bonds	10%
Insurance Commissions	5%
Contractor Services	1%/2%
Rent	2%/10%/5%
Shares/Mutual Funds	Nil
Savings Account Interest	Nil
NCDs listed on exchange	Nil
Property	1%
Brokerage	5%
Professional and Technical Services	10%

Eligibility to Open ICICI Bank FD

All individuals, businesses and Hindu Undivided Families are eligible to open ICICI Bank FDs. Minors can also start a term deposit account, provided it is jointly held with an adult account holder.

Documents Required to Open ICICI Bank FD

Look at the documents that are required to open an ICICI Bank FD account:-

Identity Proof

Passport
Aadhaar card
PAN card
Voter ID card
Driving licence
Government ID card
Photo ration card
Senior citizen ID card

Address Proof

Passport
Telephone bill
Electricity bill
Bank Statement with Cheque
Certificate/ ID card issued by Post office

For all senior citizens and minors, proof of age is mandatory.

Tips for Maximizing Your Returns on ICICI Bank FDs

Here are the smart ways in which investors can make the best returns by ICICI FD rates investment plan. Have a look below:-

Choose Shorter Tenure: Investing for a shorter tenure is always advisable as it helps you earn more returns. Shorter tenures offer higher returns than longer ones that even open the door for reinvestment plans.
Invest Online: Consider investing in ICICI Bank FDs through the bank’s online platform, as it offers some additional benefits like higher interest rates, instant activation, and flexible withdrawal options.
Opt for Automatic Renewal: Automatic renewal helps reinvest the matured FDs in another FD of the same tenure and amount. It helps in earning more returns without any hassle.
Invest in Tax-Saving FDs: Investing in ICICI Bank tax-saving FDs allows you to save up to ₹1.50 lakhs in taxes. It also provides returns at a higher rate of 8.50% p.a.
Choose the Right Type of FD: ICICI Bank offers various types of FDs, such as regular FDs, cumulative FDs, and tax-saving FDs. Choose the one that best suits your needs and investment goals.

How to Open an ICICI Bank FD Account?

Here are a few regular and simple ways to start investing in ICICI Bank FD rates for new users.

Through Mobile App

Step 1: Go to the ICICI Bank website and input your username and password to access the internet banking interface.

Step 2: Choose “Deposits” from the “My Accounts” menu.

Step 3: Next to the “Fixed Deposit” option, select the “Open Now” tab.

Step 4: Enter all pertinent information, including the debit account number, the type of deposit, the tenure, the PAN number, and other information.

Step 5: Check the information and click “Submit” in the final step. On the screen, there will be a “Request Confirmation.”

Through Internet Banking

Step 1: Go to the ICICI Bank website and input your username and password to access the internet banking interface.

Step 2: Under the “My Accounts” menu, select “Deposits.”

Step 3: Click the “Open Now” tab next to the “Fixed Deposit” option.

Step 4: Input all relevant data, such as the PAN number, the debit account number, the type of deposit, the duration, and other details.

Step 5: Review the information and press “Submit.” There will be a “Request Confirmation” button on the screen.

Through Offline ICICI Bank FD Opening

Step 1: Go to your nearest ICICI Bank branch.

Step 2: Ask about opening an FD before the branch officer or a banking representative.

Step 3: Completely complete the application form with all necessary information. When filling out the form, ask the ICICI bank agent for help.

Step 4: Submit the necessary paperwork and the term deposit payment.

Step 5: The bank will issue an FD receipt.

End Thoughts

In the current investment market, many players are actively floating the finance for potential earnings. Yet, a fraction of the population understands the real game of investment. In case you are not a pro and have restrictive finance to invest, ICICI FD rates have got your back. They say it is not just safe but highly productive, too, if you know the right plan.

Cheers to safe investment!

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Frequently Asked Questions (FAQ’s):-

Q1. Can I avail loan against the FD offered by ICICI Bank?

Ans: Yes, FD interest rates ICICI supports availing loans against the principal amount on the deposit for up to 90 per cent, which can reach Rs. 500 lakhs.