Icici Fixed Deposit Interest Rates
After 3 months but before 6 months. For individual depositors the maximum interest payable shall be 4% p.a., and no interest in case of other category of depositors. After 6 months but before 12 months. With effect from 4th June 2020, the savings account interest rate applicable would be: RBI Policy Repo Rate effective May 22, 2020 is 4.00%. 'ICICI Bank External Benchmark Lending Rate' (I-EBLR) is referenced to RBI Policy Repo Rate with a mark-up over Repo Rate. I-EBLR is 7.70%. ICICI Bank Senior Citizen Fixed Deposit Interest Rates Citizens above the age of 60 years come under the category of senior citizens. ICICI bank offers an additional interest of 0.50% p.a. To senior citizens. The interest availed by them ranges between 4.50% p.a. : ICICI Bank reduces FD interest rate. The interest rates on ICICI Bank FD for less than Rs 2 crore and the tenor of 185 days to 289 days will be 5.75%, for 5 years to up to 10 years will be 6.40% and 6.9% for senior citizens. Its interest rates will be effective from December 7, 2019. In the case of ICICI Bank FDs effective May 20, 2020, the interest rate is as follows: 1 year to 389 days: 5.55 per cent 390 days to less than 18 months: 5.55 per cent.
| Maturity Period | Interest rates (per cent per annum) w.e.f. October 21, 2020 | Interest rates (per cent per annum) w.e.f. December 04, 2020 | ||
|---|---|---|---|---|
| Single deposit of less than ₹ 20.0 million | Single deposit of ₹ 20.0 mn & above but less than 50.0 mn | |||
| General | **Senior Citizen | General | **Senior Citizen | |
| 7 days to 14 days | 2.50% | 3.00% | 2.50% | 2.50% |
| 15 days to 29 days | 2.50% | 3.00% | 2.50% | 2.50% |
| 30 days to 45 days | 3.00% | 3.50% | 2.75% | 2.75% |
| 46 days to 60 days | 3.00% | 3.50% | 2.75% | 2.75% |
| 61 days to 90 days | 3.00% | 3.50% | 3.00% | 3.00% |
| 91 days to 120 days | 3.50% | 4.00% | 3.00% | 3.00% |
| 121 days to 184 days | 3.50% | 4.00% | 3.00% | 3.00% |
| 185 days to 210 days | 4.40% | 4.90% | 3.50% | 3.50% |
| 211 days to 270 days | 4.40% | 4.90% | 3.50% | 3.50% |
| 271 days to 289 days | 4.40% | 4.90% | 3.65% | 3.65% |
| 290 days to less than 1 year | 4.40% | 4.90% | 3.65% | 3.65% |
| 1 year to 389 days | 4.90% | 5.40% | 3.75% | 3.75% |
| 390 days to < 18 months | 4.90% | 5.40% | 3.75% | 3.75% |
| 18 months to 2 years | 5.00% | 5.50% | 3.75% | 3.75% |
| 2 years 1 day to 3 years | 5.15% | 5.65% | 4.25% | 4.25% |
| 3 years 1 day to 5 years | 5.35% | 5.85% | 4.25% | 4.25% |
| 5 years 1 day to 10 years | 5.50% | #6.30% | 4.25% | 4.25% |
| 5 Years (80C FD) – Max to ₹ 1.50 lac | 5.35% | 5.85% | NA | NA |
Table of Contents
- 1 About ICICI Home Finance Company Fixed Deposit
- 1.1 Important features and advantages of ICICI HFC fixed deposit
About ICICI Home Finance Company Fixed Deposit
ICICI Home Finance Company offers retail fixed deposit to investors. It is one of the safest and most profitable saving scheme for those who are looking for higher returns. ICICI HFC offers higher rate of interest and at the same time flexibility allowing for effective compounding or liquidity depending on a depositor’s financial needs. ICICI fixed deposit is available for different tenure. The different tenure also affect the rate of interest as well. However, these deposits are easy to open and manage.
These fixed deposits are very safe and offer timely fulfillment of financial obligation. The ICICI HFC fixed deposits have given the highest rating of MAAA by ICRA and AAA (FD) by CARE respectively.
Important features and advantages of ICICI HFC fixed deposit
- ICICI HFC has the highest credit rate of AAA (FD) by CARE and MAAA by ICRA
- It offers flexible tenure to choose from 1 year to maximum 5 years
- The fixed deposit interest is compounded on yearly basis
- You can choose from monthly, quarterly or yearly compound interest as per your needs
- The minimum amount to deposit in ICICI HFC fixed deposit depends upon the saving scheme you have opted. However, it varies from minimum Rs. 10,000 to Rs. 40,000
- It offers nomination facility to the depositor
- No tax deduction will be made on interest paid Rs. 5000 in a financial year
- ICICI HFC offers 0.25% higher rate of interest for senior citizens
- It also offers loan facility against the fixed deposit of upto 75%
- Premature withdrawal facility
Premature withdrawal is not allowed for the initial three months.
In case of event of premature withdrawal, you have to follow the below term and conditions:
| Premature Withdrawal | Rate of interest payable |
|---|---|
| After 3 months but before 6 months | For individual depositors the maximum interest payable shall be 4% p.a., and no interest in case of other category of depositors. |
| After 6 months but before 12 months | 2% lower than the minimum rate at which public deposits are accepted by ICICI HFC |
| After 12 months but before the date of maturity | 1% lower than the interest rate at which ICICI HFC would have paid had the deposit been accepted for the period for which such deposit has run. |
How Much Is The Interest Rate For Fixed Deposit In Icici
| Duration | Non cumulative Scheme | Cumulative Scheme | Extra Benfits | Who Can Invest? | |||
|---|---|---|---|---|---|---|---|
| Yearly | Half-yearly | Quarterly | Monthly | Interest | |||
| 12 Months | 8.20% p.a. | -- | 7.95% p.a. | 7.90% p.a. | 8.20%p.a | ||
| 15 Months | 8.20% p.a. | -- | 7.95% p.a. | 7.90% p.a. | 8.20%p.a | ||
| 20 Months | 8.25% p.a. | - | 8.00% p.a. | 7.95% p.a. | 8.25% p.a. | 0.25% extra for senior citizen across all slabs | Resident Individual, NRI, Trusts, Companies, HUF's, AOP |
| 30 Months | 8.25% p.a. | - | 8.00% p.a | 7.95%p.a. | 8.25% p.a. | ||
| 35 Months | 8.25%p.a. | - | 8.00%p.a | 7.95%p.a. | 8.25% p.a. | ||
| 40 Months | 8.50%p.a. | - | 8.25%p.a. | 8.20%p.a | 8.50%p.a. | ||
| 60 Months | 8.25%p.a. | - | 8.00%p.a. | 7.95%p.a. | 8.25% p.a. |