ICICI Bank Fixed Deposit (FD) Rates 2024
ICICI Bank offers Fixed Deposit Schemes to the general public, senior citrizen and Non-residential Indians (NRIs). FD interest rates of ICICI Bank for the general public ranging from 3.00-7.20% p.a. and 3.50-7.75% p.a. for senior citizens with tenures 7 days to 10 years. The interest rate on ICICI Bank Tax Saving FDs is 7.00% p.a. for the general public and 7.50% p.a. for senior citizen depositors for a tenure of 5 years.
ICICI Bank FD Interest Rates
The interest rates shown in the table below apply to domestic, NRO, and NRE fixed deposits with premature withdrawal facility for a sum less than Rs. 2 crore.
| Tenure | FD Rates for Regular Customer (p.a%) | FD Rates for Senior Citizens (p.a%) |
7 days to 14 days | 3.00% | 3.50% |
15 days to 29 days | 3.00% | 3.50% |
30 days to 45 days | 3.50% | 4.00% |
46 days to 60 days | 4.25% | 4.75% |
61 days to 90 days | 4.50% | 5.00% |
91 days to 120 days | 4.75% | 5.25% |
121 days to 150 days | 4.75% | 5.25% |
151 days to 184 days | 4.75% | 5.25% |
185 days to 210 days | 5.75% | 6.25% |
211 days to 270 days | 5.75% | 6.25% |
271 days to 289 days | 6.00% | 6.50% |
290 days to less than 1 year | 6.00% | 6.50% |
1 year to 389 days | 6.70% | 7.20% |
390 days to < 15 months | 6.70% | 7.20% |
15 months to < 18 months | 7.20% | 7.75% |
18 months to 2 years | 7.20% | 7.75% |
2 years 1 day to 3 years | 7.00% | 7.50% |
3 years 1 day to 5 years | 7.00% | 7.50% |
5 years 1 day to 10 years | 6.90% | #7.50% |
5 Years (80C FD) – Max to `1.50 lac | 7.00% | 7.50% |
*Interest Rates as of 13 March 2024
*NRE rates are only applicable for a tenure of 1 year and above.
**Senior Citizens FD interest rates are only applicable for Domestic Term Deposits.
Below interest rates apply to Domestic and NRI customers for deposits of more than Rs.2 crore and less than 5 crores.
| Tenure | FD Rates for Regular Customer (p.a%) | FD Rates for Senior Citizens (p.a%) |
7 days to 14 days | 4.75% | 4.75% |
15 days to 29 days | 4.75% | 4.75% |
30 days to 45 days | 5.50% | 5.50% |
46 days to 60 days | 5.75% | 5.75% |
61 days to 90 days | 6.00% | 6.00% |
91 days to 120 days | 6.50% | 6.50% |
121 days to 150 days | 6.50% | 6.50% |
151 days to 184 days | 6.50% | 6.50% |
185 days to 210 days | 6.75% | 6.75% |
211 days to 270 days | 6.75% | 6.75% |
271 days to 289 days | 6.85% | 6.85% |
290 days to less than 1 year | 6.85% | 6.85% |
1 year to 389 days | 7.40% | 7.40% |
390 days to < 15 months | 7.30% | 7.30% |
15 months to < 18 months | 7.05% | 7.05% |
18 months to 2 years | 7.05% | 7.05% |
2 years 1 day to 3 years | 7.00% | 7.00% |
3 years 1 day to 5 years | 7.00% | 7.00% |
5 years 1 day to 10 years | 7.00% | 7.00% |
5 Years (80C FD) – Max to `1.50 lac | NA | NA
|
ICICI Bank Interest Rates for Non-Callable FD
The following interest rates apply to Fixed Deposit Schemes that do not have a premature withdrawal facility. Domestic and NRI Customers can open FD account with a deposit of less than 2 crore.
| Tenure | Interest Rates (% p.a) |
7 days to 14 days | 4.75 |
15 days to 29 days | 4.75 |
30 days to 45 days | 5.50 |
46 days to 60 days | 5.75 |
61 days to 90 days | 6.00 |
91 days to 120 days | 7.00 |
121 days to 150 days | 7.00 |
151 days to 184 days | 7.00 |
185 days to 210 days | 7.25 |
211 days to 240 days | 7.25 |
241 days to 270 days | 7.25 |
271 days to 300 days | 7.35 |
301 days to 330 days | 7.35 |
331 days to < 1 year | 7.35 |
1 year to 389 days | 7.65 |
390 days to < 15 months | 7.50 |
15 months to < 18 months | 7.45 |
18 months to 2 years | 7.45 |
2 years 1 day to 3 years | 7.20 |
3 years 1 day to 5 years | 7.20 |
5 years 1 day to 7 years | 7.20 |
7 years 1 day to 10 years | 7.20 |
Types of ICICI Bank FD Schemes
1. Regular Fixed Deposits:
- Interest on your Fixed Deposit (FD) grows every quarter.
- Minimum Amount: You can start an FD with just ₹10,000.
- Tenure: Choose any duration from 7 days to 10 years.
- Premature Withdrawal: Withdraw funds partially or prematurely in case of urgent need.
- Overdraft: Get an overdraft against your FD.
- Open your FD quickly via iMobile Pay, Internet Banking, ATM, or visit any ICICI Bank Branch.
2. Standalone Fixed Deposit:
- Amount: To open this Account, you need a minimum of ₹10,000
- Tenure: Minimum tenure 6 months
- Premature Withdrawal: You have the option for premature withdrawal.
- The process is entirely digital, from start to finish.
- KYC verification is instant.
- There's no requirement to open a Savings Account or visit a Branch.
3. ICICI Bank Golden Years FD:
- Senior Citizens can now enjoy an extra 0.10% interest rate on Fixed Deposits lasting over 5 years.
- This applies to both New and Auto-Renewed Fixed Deposits during the scheme period.
- The offer is valid for single FD amounts under ₹2 Crore.
4. Money Multiplier Fixed Deposit
This FD provides flexibility of a Savings Account combined with the lucrative returns of a Fixed Deposit Account.
- Open for a minimum tenure of 1 year.
- Start with just ₹5,000.
- Enjoy automatic reverse-sweep functionality when your Savings Account balance dips below ₹10,000 (for individual customers).
- FDs will be broken following the Last-In, First-Out (LIFO) basis for reverse-sweep.
5. ICICI Bank Tax Saver Fixed Deposit
This deposit allows tax deductions on incomes up to ₹1.5 Lakh under Section 80C of the Income Tax Act.
- Start with just ₹10,000 for a fixed tenure of 5 years.
- Interest payouts: monthly, quarterly, or reinvestment in principal
- No premature withdrawal or auto-renewal facility.
- Interest earned is entirely tax-free.
ICICI Bank FD Special Features and Benefits
- Get attractive returns on your investment.
- Deposit a minimum sum of Rs.10,000
- The tenure offered ranges from 7 days up to 10 years.
- Set standing instructions for automatic renewal of deposit account on completion of tenure.
- Partial withdrawal is allowed.
- Make premature withdrawals in the multiples of Rs.1,000 subject to applicable charges.
- Get an overdraft facility against your FD
- Invest at any time, anywhere using our iMobile, internet banking, at branches, ATMs or through customer care.
- Nomination facility is available.
Basic Eligibility Criteria for ICICI Bank FD
- Resident individuals
- Senior citizens
- Non-Resident Indians (NRIs)
- Hindu Undivided Families (HUFs)
Documents Required
- Identity Proof
- Passport
- PAN card
- Voter ID card
- Driving licence
- Government ID card
- Photo ration card
- Senior citizen ID card
- Address Proof
- Passport
- Telephone bill
- Electricity bill
- Bank Statement with Cheque
- Certificate/ID card issued by Post Office
Carry your original documents for verification along with a photocopy of each document.
Tax Benefits on ICICI Bank Fixed Deposit
ICICI Bank’s Tax Saver Fixed Deposit scheme offers reasonable returns coupled with income tax benefits. You can deposit up to Rs.1.5 lakh and get tax deduction under Section 80C of the Income Tax Act, 1961. The minimum sum you can deposit in the account is Rs.10,000. The scheme comes with a lock-in period of five years.
You have the freedom to choose the interest payout frequency, i.e. monthly, quarterly, or interest reinvestment. However, premature withdrawal and auto-renewal are not allowed. Note that the interest earned on FD accounts are taxable subject to certain conditions. That is, if the total interest earned from FD and RD accounts exceed Rs.40,000 (Rs.50,000 for senior citizens) per financial year, the tax will be deducted at source by the bank.
You can submit Form 15G/15H is applicable to request the bank not to deduct tax at source. This method stays valid only if your annual income does not exceed the basic exemption limit.
FD Interest Rate Calculator
Our easy-to-use FD calculator page helps you understand the possible returns you may receive upon depositing your money in a fixed deposit account.
Frequently Asked Questions
Quick Summary
ICICI Bank offers a variety of Fixed Deposit Schemes for different customer segments with varying interest rates. These schemes include regular FDs, Tax Saving FDs, and Non-Callable FDs, offering attractive returns and tax benefits. Customers can invest in FDs for tenures ranging from 7 days to 10 years. Nomination facility, overdraft options, and premature withdrawal features are available. The bank also provides a Tax Saver FD with deductions under Section 80C.
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