ICICI Bank offers various Fixed Deposit options for a time period of as little as 190 days to 990 days.
Types of ICICI Fixed DepositThere are two kinds of ICICI fixed deposit,
- Special Fixed Deposit
- 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 dropdown menu shown and select ICICI bank the account number. 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 dropdown menu shown. Also you have select ICICI bank the account number. 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.
This request will not be processed, if
Your account is dormant / Inactive
Your account has insufficient balance for 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 opening a fixed deposit through phone banking also, after user authentication, the person can ask the executive to open a 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 RatesBelow 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 seniour citizen then the above same amount has the rate of interest as 7%.
- If you are fixing the amount for two year then the rate of interest is 7% and for senior citizens it is 7.50%.
- If you are fixing the amount for three year then the rate of interest is 7.25% and for senior citizens it is 8%
- If you are fixing the amount for four year then the rate of interest is 7.5% and for senior citizens it is 8%
For details log on to
ICICI Bank also offers slightly higher rates for 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%.