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. ICICI FD interest rates are quite competitive and are higher than the rates on their savings deposits.
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.
ICICI FD Rate of Interest:
ICICI FD rates of interest are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
What is the current ICICI FD Interest Rate?
Current FD interest rates in ICICI Bank are tabulated below. Here FD rates range is given for different deposit tenure from 7 days – 10 years:
Revision in Interest Rates on Retail Domestic term deposits (Below Rs. 5 crores) interest rates revised: (All figures in % per annum)
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| ICICI Bank | 7 days to 14 days | 2.5 | 3 | 2021-11-25 |
| ICICI Bank | 15 days to 29 days | 2.5 | 3 | 2021-11-25 |
| ICICI Bank | 30 days to 45 days | 3 | 3.5 | 2021-11-25 |
| ICICI Bank | 46 days to 60 days | 3 | 3.5 | 2021-11-25 |
| ICICI Bank | 61 days to 90 days | 3 | 3.5 | 2021-11-25 |
| ICICI Bank | 91 days to 120 days | 3.5 | 4 | 2021-11-25 |
| ICICI Bank | 121 days to 150 days | 3.5 | 4 | 2021-11-25 |
| ICICI Bank | 151 days to 184 days | 3.5 | 4 | 2021-11-25 |
| ICICI Bank | 185 days to 210 days | 4.4 | 4.9 | 2021-11-25 |
| ICICI Bank | 211 days to 270 days | 4.4 | 4.9 | 2021-11-25 |
| ICICI Bank | 271 days to 289 days | 4.4 | 4.9 | 2021-11-25 |
| ICICI Bank | 290 days to less than 1 year | 4.4 | 4.9 | 2021-11-25 |
| ICICI Bank | 1 year to 389 days | 4.9 | 5.4 | 2021-11-25 |
| ICICI Bank | 390 days to < 15 months | 4.9 | 5.4 | 2021-11-25 |
| ICICI Bank | 15 months to < 18 months | 4.9 | 5.4 | 2021-11-25 |
| ICICI Bank | 18 months to 2 years | 5 | 5.5 | 2021-11-25 |
| ICICI Bank | 2 years 1 day to 3 years | 5.15 | 5.65 | 2021-11-25 |
| ICICI Bank | 3 years 1 day to 5 years | 5.35 | 5.85 | 2021-11-25 |
| ICICI Bank | 5 years 1 day to 10 years | 5.5 | 6.3 | 2021-11-25 |
| ICICI Bank | 5 Years (80C FD) – Max to Rs 1.50 lac | 5.35 | 5.85 | 2021-11-25 |
FD interest rates of ICICI bank according to deposit period:
FD is a deposit of a fixed sum of money for a fixed period of time – which can vary anything from a few days to a few years – at a fixed interest rate known at the beginning of the investment.
Depending on the deposit period or tenure, these FDs are further categorised as short-term, medium-term, and long-term deposits.
Short-term FD: For an ICICI FD with tenure ranging from 7 days to 365 days. These deposits are known as short-term deposits as they have a tenure of less than 1 year.
Medium-term FD: Medium-term FDs have their tenures ranging from more than 1 year to less than 5 years.
Long-term FD: This deposit’s tenure ranges from 5 years to 10 years and offers a higher interest rate for such FDs.
You may check the updated ICICI Interest rate on FD at ICICI Bank’s official website here.
How is the ICICI FD rate of interest calculated?
FD interest rates of ICICI bank are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
The interest you earn on your deposited amount in FD depends on a lot of factors such as the invested amount, tenure for the deposit, rate of interest, and compounding frequency.
One of the best ways to calculate the interest earned on your ICICI bank FD is using the ICICI Bank FD calculator available over the internet. It is the most hassle-free way of calculating interest.
You may Calculate the ICICI FD Interest rate by using: ICICI Bank FD Calculator
This FD Calculator for ICICI requires some data like – your principal deposit amount, rate of interest, period (in the number of months), and interest compounding frequency. After calculation, you will get the maturity amount after the maturity period and effective yield in %.
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Information about ICICI FD Interest Rates:
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Table of Contents |
What is the ICICI FD Account?
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.
ICICI FD interest rates are quite competitive and are higher than the rates on their savings deposits.
ICICI Bank FD Features:
- The ICICI Bank FD tenure ranges from 7 days to 10 years
- Senior citizens get an additional interest rate of 0.50% p.a. over regular rates
- The minimum deposit to open an FD account in ICICI bank is Rs. 10,000. However, minors can open an account with Rs. 2000
- Nomination facility is offered by the bank
- Loan facility of up to 90% of the deposit is available
- Interest on deposit will be paid only on maturity
- ICICI provides 6 types of FD schemes, viz. Fixed Deposit (regular plan), Fixed Deposit (without premature withdrawal facility), Tax-Saver FD, Fixed Deposit with Monthly Income option, Money Multiplier Plan, and FD Xtra with an extra suite of products.
Eligibility and Document required for ICICI Bank FD:
Eligibility for ICICI Bank Fixed Deposit (FD):
Get details on eligibility criteria & documents required for ICICI Bank Regular Fixed Deposit
Below are the individuals and groups eligible for a Regular Fixed Deposit:
- Residents
- Hindu undivided families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
Document requirement for ICICI Bank Fixed Deposit (FD):
Document requirement to apply for ICICI Bank Fixed Deposit:
- Recent photograph
- KYC documents
Individual & Company proofs:
- PAN card
- Aadhaar Card
- Passport
- Driving License
- Voter’s ID
Partnership proofs:
- Incorporating certificate
- Authorised signatories ID proofs
- Partnership Deed
- Authorised signatories’ signatures
Hindu Undivided Family:
- Self-attested PAN card
- HUF declaration deed
- HUF’s Bank Statement
Types of ICICI Bank Fixed Deposits:
ICICI provides 6 types of FD schemes, viz. Fixed Deposit (regular plan), Fixed Deposit (without premature withdrawal facility), Tax-Saver FD, Fixed Deposit with Monthly Income option, Money Multiplier Plan, and FD Xtra with an extra suite of products
How to check ICICI FD maturity value?
FD is a deposit of a fixed sum of money for a fixed period of time – which can vary anything from a few days to a few years – at a fixed interest rate known at the beginning of the investment.
The maturity amount of Fixed Deposit invested in ICICI bank for a specified period can be calculated by using the ICICI Bank FD calculator available over the internet.
The ICICI FD Calculator for ICICI FD available here requires some data like – your principal deposit amount, rate of interest, period (in the number of months), and interest compounding frequency. After calculation, you will get the maturity amount after maturity period and effective yield in %.
