ICICI Bank Fixed Deposit (FD) Calculator is for calculating the maturity amount of Fixed Deposit invested in ICICI Bank for a specified period.
(Calculate your ICICI Bank Fixed Deposit (FD) maturity amount by using this ICICI Bank Fixed Deposit Calculator)
This FD calculator requires some data like – Your Principal Deposit Amount, Rate of Interest, Period (in No. of Months), interest Compounding Frequency. After calculation, you will get the Maturity Amount after the maturity period and Effective yield in %.
ICICI Bank FD Interest Rates:
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| ICICI Bank | 7 days to 29 days | 3 | 3.5 | 2024-09-09 |
| ICICI Bank | 30 days to 45 days | 3.5 | 4 | 2024-09-09 |
| ICICI Bank | 46 days to 60 days | 4.25 | 4.75 | 2024-09-09 |
| ICICI Bank | 61 days to 90 days | 4.5 | 5 | 2024-09-09 |
| ICICI Bank | 91 days to 184 days | 4.75 | 5.25 | 2024-09-09 |
| ICICI Bank | 185 days to 270 days | 5.75 | 6.25 | 2024-09-09 |
| ICICI Bank | 271 days to < 1 year | 6 | 6.5 | 2024-09-09 |
| ICICI Bank | 1 year to < 15 months | 6.7 | 7.2 | 2024-09-09 |
| ICICI Bank | 15 months to < 18 months | 7.25 | 7.8 | 2024-09-09 |
| ICICI Bank | 18 months to 2 years | 7.25 | 7.75 | 2024-09-09 |
| ICICI Bank | 2 years 1 day to 3 years | 7 | 7.5 | 2024-09-09 |
| ICICI Bank | 3 years 1 day to 5 years | 7 | 7.5 | 2024-09-09 |
| ICICI Bank | 5 years 1 day to 10 years | 6.9 | 7.4 | 2024-09-09 |
| ICICI Bank | 5Y (Tax Saver FD) | 7 | 7.5 | 2024-09-09 |
ICICI Bank FD Calculator Variables:
This fixed deposit calculator for ICICI Bank FD uses five different investment variables that most of the calculator requires. These saving calculator variables are:
Principal Amount: This is a fixed amount that is invested in an FD scheme. This deposit amount varies from person to person and scheme to scheme.
Rate of Interest: The Rate of Interest is the variable of the FD calculator that appears as a percentage and is different for different types of FD options.
Period of Investment: The length of the investment or period for the investment in months is another factor that plays a major role in the saving calculator. The longer investment increases the compounding of the returns and hence greater rewards are generated.
Maturity Amount: The desired or required amount that an investor wants at the end of the investment life cycle is known as the final amount or maturity amount.
Effective yield: The effective yield is that variable of the FD calculator that appears as a percentage and is used to compare the effectiveness of different types of saving options. This saving variable matters the most to the investors.
How ICICI Bank FD Calculator Works?
Anyone can calculate his saving returns from the ICICI Bank account through an online FD calculator available on this page with high accuracy.
Following are the steps to calculate the FD returns through this calculator:
- Step 1: Enter the fixed principal amount that he wants to deposit.
- Step 2: After this, fill the rate of interest that he gets from his bank or financial institution for the specified period. Different banks or financial institutions offer different rates of interest-based on the amount of investment and period of investment.
- Step 3: The next step that one has to follow is to select the period for saving in months. It depends on saving option requirement for which he wants to stay invested.
- Step 4: Thereafter choose the frequency of compounding. The frequency of compounding may be monthly, quarterly, half-yearly, or yearly.
- Step 5: After submitting all variables required by an FD calculator, one will get the final maturity amount for investment query with effective yield.
ICICI Bank Fixed Deposit (FD)
An ICICI Bank fixed deposit (FD) is an account that allows you to deposit your money for a fixed period of time, earning your interest at a fixed rate. It gives you a higher rate of interest than a savings bank account.
FDs are fixed-income debt securities issued by ICICI Bank. Putting money into an FD is like giving a loan to the bank, in return for which the bank pays you interest.
The most popular form of Term deposits are Fixed Deposits, while other forms of term Deposits are Recurring Deposit and Flexi Fixed Deposits (the latter is actually a combination of Demand deposit and Fixed deposit).
The longest permissible term offered by ICICI Bank for FDs is 10 years. Generally, the longer the term of deposit, the higher is the rate of interest.
Features of ICICI Bank FD:
- A wide range of tenures, ranging from 7 days to 10 years, to suit your investment plan
- Partial withdrawal is permitted in units of Rs 1,000. The balance amount earns the original rate of interest
- Safe custody of your fixed deposit receipts
- The facility of automatic renewal
- Loan facility is available up to 90% of principal and accrued interest
FAQs about ICICI Bank Fixed Deposit (FD):
What is a fixed deposit (FD) account and how it works?
ICICI Bank offers you Fixed Deposit which is one of the safe and secured instruments to invest in. Attractive rate of returns and flexibility to withdraw funds as and when required are some of the benefits of Fixed Deposit along with ease of investment and loan against the deposit.
How to calculate fixed deposit interest?
The method of calculation on interest on a fixed deposit, both Traditional and Cumulative deposits is as under:
- Traditional fixed deposits with quarterly pay-outs interest are calculated based on annual rates (Simple Interest). However, in the case of monthly pay-outs, interest is paid at a discounted value. For Traditional fixed deposits with quarterly pay-out, interest is calculated on the principal amount for completed quarters and then for the balance period, interest is calculated for completed months and further for the incomplete month on the actual number of days.
- For Cumulative deposits, interest is compounded quarterly on completion of exact quarters. For the broken period beyond completed quarters, simple interest is calculated on the cumulated deposit amount for the remaining number of days.
- In case of premature withdrawal, the interest is calculated on the principal amount for completed quarters and then for the balance period, interest is calculated for completed months and further for the incomplete month on the actual number of days.
What is the interest rate for a fixed deposit?
Click here to view Interest rates offered by ICICI Bank on Fixed Deposits.
How to open a fixed deposit account?
Open a Fixed Deposit Account easily through a number of channels like Internet or Phone Banking or simply by visiting your nearest ICICI Bank branch.
What is the minimum amount for an ICICI Bank fixed deposit?
You can avail of ICICI Bank Fixed Deposits for a minimum deposit of Rs 10,000.00 for General Customers and Rs 2,000.00 for Fixed Deposits for Minors.
What are the minimum and maximum period for a fixed deposit?
Select from 2 Investment Plans:
- Traditional Plan: Earn interest monthly/quarterly basis as per your convenience with a maturity period ranging from 7 days to 10 years.
- Reinvestment Plan: Earn interest compounded quarterly and reinvested with the principal amount with a maturity period ranging from 6 months to 10 years.
You are here to calculate the maturity value of your money in ICICI Bank’s fixed deposit account. Calculate the maturity value with this online ICICI Bank FD calculator.
