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ICICI Fixed Deposit

ICICI Bank offers various Fixed Deposit options for a time period of as little as 190 days to 990 days.

Contents

  1. Types of ICICI Fixed Deposit
  2. How to open a special fixed deposit in ICICI Bank
  3. How to open a Standard fixed deposit in ICICI Bank
  4. How to open ICICI bank fixed deposit in local branch
  5. ICICI Fixed Deposit with Phone Banking
  6. Interest rates on ICICI BANK fixed deposit
  7. ICICI Fixed Deposit Rates
  8. Premature withdrawal of Money by breaking Fixed Deposit

Types of ICICI Fixed Deposit

There are two kinds of ICICI fixed deposit,

  1. Special Fixed Deposit
  2. Standard Fixed Deposit

How to open a special fixed deposit in ICICI Bank

  • suppose you are already an ICICI bank account holder then log on to www.icicibank.com.
  • log in through your ICICI internet banking credentials. Now click on fixed deposit link on the right-hand side of the page.
  • Choose the Special fixed deposit option from the drop-down menu shown and select ICICI bank the account number. The automatically total amount of cash entered will be deducted from your account.
  • The special factor of special fixed deposit is its tenure period.
  • ICICI Offered FD for 190 / 390 / 590 /790 / 990 days.

How to open a Standard fixed deposit in ICICI Bank

  • Log on to www.icicibank.com.
  • log in through your ICICI internet banking credentials. Now you can click on fixed deposit link on the right-hand side of the page.
  • Now next step is to choose the Standard fixed deposit option from the drop-down menu shown. Also, you have select ICICI bank the account number. The automatically total amount of cash entered will be deducted from your account.
  • The special factor of standard fixed deposit is its tenure period.
  • Tenure of Deposit:
  • Cumulative Deposit: Minimum - 6 months, Maximum -10 years.
  • Traditional Deposit - Periodic Interest Payout: Minimum - 15 days, Maximum - 91 days.
  • Traditional Deposit - Monthly Interest Payout: Minimum - 3 months, Maximum - 10 years.
  • Traditional Deposit - Quarterly Interest Payout: Minimum - 6 months, Maximum - 10 years.

Note This request will not be processed, if Your account is dormant / Inactive Your account has insufficient balance for the opening of Fixed Deposit You are a Senior Citizen and your Date of Birth is not updated for your account.

How to open ICICI bank fixed deposit in local branch

ICICI bank fixed deposit account can also be open by visiting the nearby ICICI branch. You can speak to the bank executive by submitting your fixed deposit application form. Your account will be activated within 5 to 6 days of time.

ICICI Fixed Deposit with Phone Banking

ICICI now offers to open a fixed deposit through phone banking also, after user authentication, the person can ask the executive to open an FD account and linked to your account. If you don't want the Fixed deposit to link to your account, you will have to go to nearby ICICI branch to sign the papers. The certificate for FD will be sent your registered address in a week's time.

Interest rates on ICICI BANK fixed deposit

The interest on your fixed deposit varies according to your age. If you are a senior citizen then apparently the rate of interest is high.

ICICI Fixed Deposit Rates

Below mentioned FD rates are constantly changing (in every 4-6 months), so please check with the ICICI website as well

  • The rate of interest will be 6.50% per annum for the amount Rs.10000 and more.
  • If you are a senior citizen then the above same amount has the rate of interest as 7%.
  • If you are fixing the amount for two years then the rate of interest is 7% and for senior citizens, it is 7.50%.
  • If you are fixing the amount for three years then the rate of interest is 7.25% and for senior citizens, it is 8%
  • If you are fixing the amount for four years then the rate of interest is 7.5% and for senior citizens, it is 8%

For details log on to http://www.icicibank.com/interest-rates.html

ICICI Bank also offers slightly higher rates for a very big amount like 1 Crore.

Premature withdrawal of Money by breaking Fixed Deposit

The person having a fixed deposit account can break it to get the funds immediately (it takes 24 hours) as this feature is now provided by all the banks. Though the interest rate will be reduced accordingly, for e.g. if the Fixed Deposit was made for 2 years for Interest Rate of 7% and was broken after 1 year, the person may get Interest of 6%.

Comments

I m having a salary account in icici since last 16 months .i have to invest 70 thousands for 3months.i have to do a fixed for 3 months.it would be more profitable than the interest paid by icici on my saving account.plz suggest me for this.

Before tanking Fixed Deposit, Check out ICICI Bank FD Rates and also do not forget to compare with other banks FD's: http://www.bankbazaar.com/fixed-deposit/icici-fixed-deposit-rate.html

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