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ICICI Bank FD Interest Rate Calculator

ICICI Bank FD online calculator will help you calculate the interest that your money will earn when kept in a fixed deposit in ICICI Bank. This will give the details of investment that's the principal amount on maturity after the interest is compounded on days or a monthly, quarterly, half-yearly and yearly basis. To learn about how your fixed deposit earns interest and how much will be your earning at the end of the tenure chosen, Goodreturns online calculators will help you.

ICICI Bank Fixed Deposit Interest Rates

ICICI Bank fixed deposit is a great way to save money for a period of time, if you are looking at getting your invested money safely along with good returns on your investment, then fixed deposit is the way to go. Checking the ICICI Bank fixed deposit interest rate and making the decisions is now very easy.


For domestic deposits - Less than Rs. 1 cr [ Revised on : 11-12-2017 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 14 days Less than Rs. 1 cr 4.00 4.50
15 days to 29 days Less than Rs. 1 cr 4.25 4.75
30 days to 45 days Less than Rs. 1 cr 5.50 6.00
46 days to 60 days Less than Rs. 1 cr 5.75 6.25
61 days to 90 days Less than Rs. 1 cr 6.00 6.50
91 days to 120 days Less than Rs. 1 cr 6.00 6.50
121 days to 184 days Less than Rs. 1 cr 6.00 6.50
185 days to 289 days Less than Rs. 1 cr 6.25 6.75
290 days to less than 1 year Less than Rs. 1 cr 6.50 7.00
1 year to 389 days Less than Rs. 1 cr 6.60 7.10
390 days to 2 years Less than Rs. 1 cr 6.75 7.25
2 years 1 day to 5 years Less than Rs. 1 cr 6.50 7.00
5 years 1 day upto 10 years Less than Rs. 1 cr 6.50 7.00

For domestic deposits - Rs. 1 cr to Less than Rs. 5 cr [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 14 days Rs. 1 cr to Less than Rs. 5 cr 5.25 -
15 days to 29 days Rs. 1 cr to Less than Rs. 5 cr 5.25 -
30 days to 45 days Rs. 1 cr to Less than Rs. 5 cr 6.00 -
46 days to 60 days Rs. 1 cr to Less than Rs. 5 cr 6.25 -
61 days to 90 days Rs. 1 cr to Less than Rs. 5 cr 6.35 -
91 days to 120 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
121 days to 150 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
151 days to 184 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
185 days to 210 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
211 days to 240 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
241 days to 270 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
271 days to 300 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
301 days to 330 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
331 days to 364 days Rs. 1 cr to Less than Rs. 5 cr 6.70 -
1 year to 389 days Rs. 1 cr to Less than Rs. 5 cr 6.85 -
390 days to less than 15 months Rs. 1 cr to Less than Rs. 5 cr 6.75 -
15 months to less than 18 months Rs. 1 cr to Less than Rs. 5 cr 6.75 -
18 months to 2 years Rs. 1 cr to Less than Rs. 5 cr 6.75 -
2 years 1 day upto 3 years Rs. 1 cr to Less than Rs. 5 cr 6.75 -
3 years 1 day upto 5 years Rs. 1 cr to Less than Rs. 5 cr 6.75 -
5 years 1 day to 7 years Rs. 1 cr to Less than Rs. 5 cr 6.50 -
7 years 1 day to 10 years Rs. 1 cr to Less than Rs. 5 cr 6.50 -

For domestic deposits - Rs. 25 cr to Less than Rs. 250 cr [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 14 days Rs. 25 cr to Less than Rs. 250 cr 5.25 -
15 days to 29 days Rs. 25 cr to Less than Rs. 250 cr 5.25 -
30 days to 45 days Rs. 25 cr to Less than Rs. 250 cr 6.00 -
46 days to 60 days Rs. 25 cr to Less than Rs. 250 cr 6.25 -
61 days to 90 days Rs. 25 cr to Less than Rs. 250 cr 6.35 -
91 days to 120 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
121 days to 150 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
151 days to 184 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
185 days to 210 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
211 days to 240 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
241 days to 270 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
271 days to 300 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
301 days to 330 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
331 days to 364 days Rs. 25 cr to Less than Rs. 250 cr 6.70 -
1 year to 389 days Rs. 25 cr to Less than Rs. 250 cr 6.85 -
390 days to less than 15 months Rs. 25 cr to Less than Rs. 250 cr 6.75 -
15 months to less than 18 months Rs. 25 cr to Less than Rs. 250 cr 6.75 -
18 months to 2 years Rs. 25 cr to Less than Rs. 250 cr 6.75 -
2 years 1 day upto 3 years Rs. 25 cr to Less than Rs. 250 cr 6.75 -
3 years 1 day upto 5 years Rs. 25 cr to Less than Rs. 250 cr 6.75 -
5 years 1 day to 7 years Rs. 25 cr to Less than Rs. 250 cr 6.50 -
7 years 1 day to 10 years Rs. 25 cr to Less than Rs. 250 cr 6.50 -

For domestic deposits - Rs. 250 cr to Less than Rs. 500 cr [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 14 days Rs. 250 cr to Less than Rs. 500 cr 5.25 -
15 days to 29 days Rs. 250 cr to Less than Rs. 500 cr 5.25 -
30 days to 45 days Rs. 250 cr to Less than Rs. 500 cr 6.00 -
46 days to 60 days Rs. 250 cr to Less than Rs. 500 cr 6.25 -
61 days to 90 days Rs. 250 cr to Less than Rs. 500 cr 6.35 -
91 days to 120 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
121 days to 150 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
151 days to 184 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
185 days to 210 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
211 days to 240 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
241 days to 270 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
271 days to 300 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
301 days to 330 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
331 days to 364 days Rs. 250 cr to Less than Rs. 500 cr 6.70 -
1 year to 389 days Rs. 250 cr to Less than Rs. 500 cr 6.85 -
390 days to less than 15 months Rs. 250 cr to Less than Rs. 500 cr 6.75 -
15 months to less than 18 months Rs. 250 cr to Less than Rs. 500 cr 6.75 -
18 months to 2 years Rs. 250 cr to Less than Rs. 500 cr 6.75 -
2 years 1 day upto 3 years Rs. 250 cr to Less than Rs. 500 cr 6.75 -
3 years 1 day upto 5 years Rs. 250 cr to Less than Rs. 500 cr 6.75 -
5 years 1 day to 7 years Rs. 250 cr to Less than Rs. 500 cr 6.50 -
7 years 1 day to 10 years Rs. 250 cr to Less than Rs. 500 cr 6.50 -

For domestic deposits - Rs. 5 cr to Less than Rs. 25 cr [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 14 days Rs. 5 cr to Less than Rs. 25 cr 5.25 -
15 days to 29 days Rs. 5 cr to Less than Rs. 25 cr 5.25 -
30 days to 45 days Rs. 5 cr to Less than Rs. 25 cr 6.00 -
46 days to 60 days Rs. 5 cr to Less than Rs. 25 cr 6.25 -
61 days to 90 days Rs. 5 cr to Less than Rs. 25 cr 6.35 -
91 days to 120 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
121 days to 150 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
151 days to 184 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
185 days to 210 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
211 days to 240 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
241 days to 270 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
271 days to 300 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
301 days to 330 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
331 days to 364 days Rs. 5 cr to Less than Rs. 25 cr 6.70 -
1 year to 389 days Rs. 5 cr to Less than Rs. 25 cr 6.85 -
390 days to less than 15 months Rs. 5 cr to Less than Rs. 25 cr 6.75 -
15 months to less than 18 months Rs. 5 cr to Less than Rs. 25 cr 6.75 -
18 months to 2 years Rs. 5 cr to Less than Rs. 25 cr 6.75 -
2 years 1 day upto 3 years Rs. 5 cr to Less than Rs. 25 cr 6.75 -
3 years 1 day upto 5 years Rs. 5 cr to Less than Rs. 25 cr 6.75 -
5 years 1 day to 7 years Rs. 5 cr to Less than Rs. 25 cr 6.50 -
7 years 1 day to 10 years Rs. 5 cr to Less than Rs. 25 cr 6.50 -

For domestic deposits - Rs. 500 cr and above [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 14 days Rs. 500 cr and above 5.25 -
15 days to 29 days Rs. 500 cr and above 5.25 -
30 days to 45 days Rs. 500 cr and above 6.00 -
46 days to 60 days Rs. 500 cr and above 6.25 -
61 days to 90 days Rs. 500 cr and above 6.35 -
91 days to 120 days Rs. 500 cr and above 6.70 -
121 days to 150 days Rs. 500 cr and above 6.70 -
151 days to 184 days Rs. 500 cr and above 6.70 -
185 days to 210 days Rs. 500 cr and above 6.70 -
211 days to 240 days Rs. 500 cr and above 6.70 -
241 days to 270 days Rs. 500 cr and above 6.70 -
271 days to 300 days Rs. 500 cr and above 6.70 -
301 days to 330 days Rs. 500 cr and above 6.70 -
331 days to 364 days Rs. 500 cr and above 6.70 -
1 year to 389 days Rs. 500 cr and above 6.85 -
390 days to less than 15 months Rs. 500 cr and above 6.75 -
15 months to less than 18 months Rs. 500 cr and above 6.75 -
18 months to 2 years Rs. 500 cr and above 6.75 -
2 years 1 day upto 3 years Rs. 500 cr and above 6.75 -
3 years 1 day upto 5 years Rs. 500 cr and above 6.75 -
5 years 1 day to 7 years Rs. 500 cr and above 6.50 -
7 years 1 day to 10 years Rs. 500 cr and above 6.50 -

Tax Saver Fixed Deposits [ Amount capped at Rs. 1 lakh per Financial Year ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
Tax Saver FD 80C - 5 year Upto Rs. 1 lakh 6.50 7.00

For NRO Fixed Deposit - Less than Rs. 1 cr [ Revised on : 11-12-2017 ]

Maturity Period Deposit Amount Interest Rate
7 days to 14 days Less than Rs. 1 cr 4.00
15 days to 29 days Less than Rs. 1 cr 4.25
30 days to 45 days Less than Rs. 1 cr 5.50
46 days to 60 days Less than Rs. 1 cr 5.75
61 days to 90 days Less than Rs. 1 cr 6.00
91 days to 120 days Less than Rs. 1 cr 6.00
121 days to 184 days Less than Rs. 1 cr 6.00
185 days to 289 days Less than Rs. 1 cr 6.25
290 days to less than 1 year Less than Rs. 1 cr 6.50
1 year to 389 days Less than Rs. 1 cr 6.60
390 days to 2 years Less than Rs. 1 cr 6.75
2 years 1 day to 5 years Less than Rs. 1 cr 6.50
5 years 1 day upto 10 years Less than Rs. 1 cr 6.50

For NRO Fixed Deposit - Rs. 1 cr to Less than Rs. 5 cr [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
7 days to 14 days Rs. 1 cr to Less than Rs. 5 cr 5.25
15 days to 29 days Rs. 1 cr to Less than Rs. 5 cr 5.25
30 days to 45 days Rs. 1 cr to Less than Rs. 5 cr 6.00
46 days to 60 days Rs. 1 cr to Less than Rs. 5 cr 6.25
61 days to 90 days Rs. 1 cr to Less than Rs. 5 cr 6.35
91 days to 120 days Rs. 1 cr to Less than Rs. 5 cr 6.70
121 days to 150 days Rs. 1 cr to Less than Rs. 5 cr 6.70
151 days to 184 days Rs. 1 cr to Less than Rs. 5 cr 6.70
185 days to 210 days Rs. 1 cr to Less than Rs. 5 cr 6.70
211 days to 240 days Rs. 1 cr to Less than Rs. 5 cr 6.70
241 days to 270 days Rs. 1 cr to Less than Rs. 5 cr 6.70
271 days to 300 days Rs. 1 cr to Less than Rs. 5 cr 6.70
301 days to 330 days Rs. 1 cr to Less than Rs. 5 cr 6.70
331 days to 364 days Rs. 1 cr to Less than Rs. 5 cr 6.70
1 year to 389 days Rs. 1 cr to Less than Rs. 5 cr 6.85
390 days to less than 15 months Rs. 1 cr to Less than Rs. 5 cr 6.75
15 months to less than 18 months Rs. 1 cr to Less than Rs. 5 cr 6.75
18 months to 2 years Rs. 1 cr to Less than Rs. 5 cr 6.75
2 years 1 day upto 3 years Rs. 1 cr to Less than Rs. 5 cr 6.75
3 years 1 day upto 5 years Rs. 1 cr to Less than Rs. 5 cr 6.75
5 years 1 day to 7 years Rs. 1 cr to Less than Rs. 5 cr 6.50
7 years 1 day to 10 years Rs. 1 cr to Less than Rs. 5 cr 6.50

For NRO Fixed Deposit - Rs. 25 cr to Less than Rs. 250 cr [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
7 days to 14 days Rs. 25 cr to Less than Rs. 250 cr 5.25
15 days to 29 days Rs. 25 cr to Less than Rs. 250 cr 5.25
30 days to 45 days Rs. 25 cr to Less than Rs. 250 cr 6.00
46 days to 60 days Rs. 25 cr to Less than Rs. 250 cr 6.25
61 days to 90 days Rs. 25 cr to Less than Rs. 250 cr 6.35
91 days to 120 days Rs. 25 cr to Less than Rs. 250 cr 6.70
121 days to 150 days Rs. 25 cr to Less than Rs. 250 cr 6.70
151 days to 184 days Rs. 25 cr to Less than Rs. 250 cr 6.70
185 days to 210 days Rs. 25 cr to Less than Rs. 250 cr 6.70
211 days to 240 days Rs. 25 cr to Less than Rs. 250 cr 6.70
241 days to 270 days Rs. 25 cr to Less than Rs. 250 cr 6.70
271 days to 300 days Rs. 25 cr to Less than Rs. 250 cr 6.70
301 days to 330 days Rs. 25 cr to Less than Rs. 250 cr 6.70
331 days to 364 days Rs. 25 cr to Less than Rs. 250 cr 6.70
1 year to 389 days Rs. 25 cr to Less than Rs. 250 cr 6.85
390 days to less than 15 months Rs. 25 cr to Less than Rs. 250 cr 6.75
15 months to less than 18 months Rs. 25 cr to Less than Rs. 250 cr 6.75
18 months to 2 years Rs. 25 cr to Less than Rs. 250 cr 6.75
2 years 1 day upto 3 years Rs. 25 cr to Less than Rs. 250 cr 6.75
3 years 1 day upto 5 years Rs. 25 cr to Less than Rs. 250 cr 6.75
5 years 1 day to 7 years Rs. 25 cr to Less than Rs. 250 cr 6.50
7 years 1 day to 10 years Rs. 25 cr to Less than Rs. 250 cr 6.50

For NRO Fixed Deposit - Rs. 250 cr to Less than Rs. 500 cr [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
7 days to 14 days Rs. 250 cr to Less than Rs. 500 cr 5.25
15 days to 29 days Rs. 250 cr to Less than Rs. 500 cr 5.25
30 days to 45 days Rs. 250 cr to Less than Rs. 500 cr 6.00
46 days to 60 days Rs. 250 cr to Less than Rs. 500 cr 6.25
61 days to 90 days Rs. 250 cr to Less than Rs. 500 cr 6.35
91 days to 120 days Rs. 250 cr to Less than Rs. 500 cr 6.70
121 days to 150 days Rs. 250 cr to Less than Rs. 500 cr 6.70
151 days to 184 days Rs. 250 cr to Less than Rs. 500 cr 6.70
185 days to 210 days Rs. 250 cr to Less than Rs. 500 cr 6.70
211 days to 240 days Rs. 250 cr to Less than Rs. 500 cr 6.70
241 days to 270 days Rs. 250 cr to Less than Rs. 500 cr 6.70
271 days to 300 days Rs. 250 cr to Less than Rs. 500 cr 6.70
301 days to 330 days Rs. 250 cr to Less than Rs. 500 cr 6.70
331 days to 364 days Rs. 250 cr to Less than Rs. 500 cr 6.70
1 year to 389 days Rs. 250 cr to Less than Rs. 500 cr 6.85
390 days to less than 15 months Rs. 250 cr to Less than Rs. 500 cr 6.75
15 months to less than 18 months Rs. 250 cr to Less than Rs. 500 cr 6.75
18 months to 2 years Rs. 250 cr to Less than Rs. 500 cr 6.75
2 years 1 day upto 3 years Rs. 250 cr to Less than Rs. 500 cr 6.75
3 years 1 day upto 5 years Rs. 250 cr to Less than Rs. 500 cr 6.75
5 years 1 day to 7 years Rs. 250 cr to Less than Rs. 500 cr 6.50
7 years 1 day to 10 years Rs. 250 cr to Less than Rs. 500 cr 6.50

For NRO Fixed Deposit - Rs. 5 cr to Less than Rs. 25 cr [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
7 days to 14 days Rs. 5 cr to Less than Rs. 25 cr 5.25
15 days to 29 days Rs. 5 cr to Less than Rs. 25 cr 5.25
30 days to 45 days Rs. 5 cr to Less than Rs. 25 cr 6.00
46 days to 60 days Rs. 5 cr to Less than Rs. 25 cr 6.25
61 days to 90 days Rs. 5 cr to Less than Rs. 25 cr 6.35
91 days to 120 days Rs. 5 cr to Less than Rs. 25 cr 6.70
121 days to 150 days Rs. 5 cr to Less than Rs. 25 cr 6.70
151 days to 184 days Rs. 5 cr to Less than Rs. 25 cr 6.70
185 days to 210 days Rs. 5 cr to Less than Rs. 25 cr 6.70
211 days to 240 days Rs. 5 cr to Less than Rs. 25 cr 6.70
241 days to 270 days Rs. 5 cr to Less than Rs. 25 cr 6.70
271 days to 300 days Rs. 5 cr to Less than Rs. 25 cr 6.70
301 days to 330 days Rs. 5 cr to Less than Rs. 25 cr 6.70
331 days to 364 days Rs. 5 cr to Less than Rs. 25 cr 6.70
1 year to 389 days Rs. 5 cr to Less than Rs. 25 cr 6.85
390 days to less than 15 months Rs. 5 cr to Less than Rs. 25 cr 6.75
15 months to less than 18 months Rs. 5 cr to Less than Rs. 25 cr 6.75
18 months to 2 years Rs. 5 cr to Less than Rs. 25 cr 6.75
2 years 1 day upto 3 years Rs. 5 cr to Less than Rs. 25 cr 6.75
3 years 1 day upto 5 years Rs. 5 cr to Less than Rs. 25 cr 6.75
5 years 1 day to 7 years Rs. 5 cr to Less than Rs. 25 cr 6.50
7 years 1 day to 10 years Rs. 5 cr to Less than Rs. 25 cr 6.50

For NRO Fixed Deposit - Rs. 500 cr and above [ Revised on : 29-01-2018 ]

Maturity Period Deposit Amount Interest Rate
7 days to 14 days Rs. 500 cr and above 5.25
15 days to 29 days Rs. 500 cr and above 5.25
30 days to 45 days Rs. 500 cr and above 6.00
46 days to 60 days Rs. 500 cr and above 6.25
61 days to 90 days Rs. 500 cr and above 6.35
91 days to 120 days Rs. 500 cr and above 6.70
121 days to 150 days Rs. 500 cr and above 6.70
151 days to 184 days Rs. 500 cr and above 6.70
185 days to 210 days Rs. 500 cr and above 6.70
211 days to 240 days Rs. 500 cr and above 6.70
241 days to 270 days Rs. 500 cr and above 6.70
271 days to 300 days Rs. 500 cr and above 6.70
301 days to 330 days Rs. 500 cr and above 6.70
331 days to 364 days Rs. 500 cr and above 6.70
1 year to 389 days Rs. 500 cr and above 6.85
390 days to less than 15 months Rs. 500 cr and above 6.75
15 months to less than 18 months Rs. 500 cr and above 6.75
18 months to 2 years Rs. 500 cr and above 6.75
2 years 1 day upto 3 years Rs. 500 cr and above 6.75
3 years 1 day upto 5 years Rs. 500 cr and above 6.75
5 years 1 day to 7 years Rs. 500 cr and above 6.50
7 years 1 day to 10 years Rs. 500 cr and above 6.50

For NRE Fixed Deposit - Less than Rs. 1 cr [ Revised on : 11-12-2017 ]

Maturity Period Deposit Amount Interest Rate
1 year to 389 days Less than Rs. 1 cr 6.60
390 days upto 2 years Less than Rs. 1 cr 6.75
2 years 1 day upto 5 years Less than Rs. 1 cr 6.50
5 Years 1 Day upto 10 Years Less than Rs. 1 cr 6.50

Reasons for checking the ICICI Bank FD calculator

FD interest rates and calculations are always dynamic. In fact, it is imperative to always check the ICICI Bank FD calculator before you invest in the bank FDs.

 This is because, when it comes to bank Fixed deposits, they tend to compound interest rates, which is why it is necessary to finally arrive at the maturity value. Most of the banks tend to compound the interest at quarterly intervals. This means your yield on a ICICI Bank FD would automatically increase.

For example, if your bank fixed deposits fetch an interest rate of 8%, the yield could be much higher over a 2-year period of the FD. In some cases it could be as high as 8.5 per cent yield over the tenure.

Therefore, do use the ICICI Bank FD calculator, before you arrive at a final maturity value.

How to Open a Fixed Deposit Account With ICICI Bank?

ICICI Bank customers can open a Fixed Deposit account easily through a number of ways such as internet banking or phone banking or by visiting your nearest ICICI Bank branch.Bank may charge for pre-mature withdrawals in multiples of Rs 1,000. Loans or Overdraft can be availed up to 90% on FD amount and choose from monthly or quarterly payouts.

Interest rates varies with amount and tenure of the investment. For domestic deposits ranging from Rs 1 crore to Rs 5 crore, interest rate will vary between 7.25 per cent to 8.50 per cent.

ICICI Bank FD Calculator

The ICICI Bank FD Calculator is used as a tool to arrive at the exact maturity value of the fixed deposit amount. These calculators help the user to calculate the principal amount along with the interest rate yields which gets on added to the principal amount at the end of every quarterly year during the entire term of the fixed deposit scheme. One should enter all the values correctly to arrive at the correct maturity value, to do so check the interest rates of the bank and then proceed to check the overall interest yield rates by entering the principal amount, tenure of the scheme, interest rates to get the end value. Higher interest rates on the fixed deposits fetch higher returns, currently, the Central Bank of the Country – RBI has slashed the interest rates and thus the interest rates of the other banks have also come down. 

Types of Fixed Deposit Schemes in ICICI Bank

• Traditional Plan

• Reinvestment Plan

• 390 Days Tenure Fixed Deposit

• Fixed Deposit without premature withdrawal facility

 
Traditional Plan

Under this plan, interest amount will be earned either on a monthly or quarterly basis and the maturity period varies between 7 days to 1 decade (10 years).

Reinvestment Plan

In this plan, the interest amount will get compounded on a quarterly basis and the same will be reinvested as the principal amount. The maturity period ranges from 6 months to 10 years.

Fixed Deposit with Premature Withdrawal Facility

The ICICI Bank offers fixed deposit (term deposit) which comes in with premature withdrawal facility in case of a financial emergency. This term deposit is available for Resident Indians as well as Non-Resident Ordinary (NRO) and Non-Resident External (NRE). 

• The tenure of the term deposit ranges from a minimum of 7 days to a maximum of up to 10 years.
• The interest rates on these fixed deposits vary regularly at the discretion of ICICI Bank.
• Currently, the interest rates on term deposits ranges between 4.00% per annum – 7.25% per annum for regular normal citizens.
• The interest rates for senior citizens varies in the range of 4.50% per annum – 7.75% per annum.
• The minimum term of the domestic term deposit is 7 days and in case of withdrawal within a period of 7 days will not fetch the depositor any interest on the principal amount.
• The minimum term of the NRE fixed deposits stands at 1 year and premature withdrawal prior to the completion of 1 year from the date of deposit will not fetch any interest amount on deposited money.
• Investors who are looking for Tax Savings purpose can choose Tax Saver FD which has a maximum limit of Rs 1,50,000 per annum for a period of 5 years.
• The lock-in period for Tax Saver FD is 5 years and one cannot withdraw it prematurely.
• The employees of ICICI Bank (both current and retired staff) will be eligible to get an additional 1% interest on domestic deposit whose value is less than Rs 1 crore.
• In case of premature withdrawal of deposits the interest will be calculated at the rate applicable for the period of deposit held with ICICI Bank.
• Separate Penalty Charges will be levied on the rate applicable which differs based on the original tenure of the term deposit.

Interest payout frequency

in case of traditional fixed deposit scheme, the interest is credited to the savings account on a monthly basis or on a quarterly basis. For the Reinvestment fixed deposit, the interest is compounded to the principal amount on a quarterly basis. Maturity of reinvestment Fds will range from 6 months to 10 years.

Minimum Balance for ICICI Bank Fixed Deposits

Individuals who wish to manage fixed deposits in ICICI Bank has to maintain a minimum deposit amount for of Rs 10,000 for general customers and the minimum deposit amount in case of minors is Rs 2,000. 

Fixed Deposit Tenure

The tenure of the fixed deposits available with the ICICI Bank ranges from 7 days to 10 years. The depositor can choose the tenure of the fixed deposit based on his/her convenience. The interest rate on the deposits varies based on the tenure of the scheme.

The minimum term for a domestic and Non-Resident Ordinary (NRO) term deposit is 7 days. If the deposited money is withdrawn prematurely before the 7 days from the date of deposit then the deposited money will not fetch any interest.

The minimum term for the Non-Resident External (NRE) deposit is 1 year and in case of premature withdrawal within the said period, the deposited money will not be eligible to get any kind of interest on the deposited money.

Taxation

Customers who are eligible who do not have taxable income can submit a declaration Form 15G/ 15H to avail TDS exemption.TDS is not applicable on the interest earned up to Rs. 10,000 under Section 194A.

Tax Saving Fixed Deposit

Individuals falling in tax bracket can opt for tax saving fixed deposit where they get a tax exemption under Section 80C of Income Tax Act. Individuals can make minimum investment of Rs 10,000 and maximum Rs 150,000. Here the money invested is locked in for 5 years unlike normal fixed deposit.Premature withdrawal, overdraft and Auto-renewal facility are not eligible under this scheme.

Senior Citizen

ICICI bank offers higher interest rates for senior citizens. It offers of 0.50% higher than the normal rate of interest. Senior Citizen customers who do not have taxable income can submit a declaration Form 15H to avail TDS exemption.

Important points for Fixed Depositors of ICICI Bank

• The interest rates on FD’s are subject to vary and the depositor has to ascertain the rate of interest on the date of deposit of the FD.
• The interest amount earned on the fixed deposit is subject to Tax Deducted at Source (TDS) as per the Income Tax Act 1961.
• Interest earned on a fixed deposit is fully taxable in nature if the interest income for the financial year crosses Rs 10,000.
• Banks in India are liable to deduct TDA at a rate of 10 percent on the interest amount earned from the term deposits.
• If the depositor fails to submit the PAN details to the bank, then the bank will deduct TDS at 20 percent.
• The minimum term for the domestic and NRO term deposit is 7 days.
• If the Domestic and NRO term deposits are withdrawn prematurely within a period of 7 days from the date of deposit, then the depositors lose to earn any interest earned on the deposited amount.
• Minimum tenure of the NRE Term deposit is 1 year.
• If investors withdraw NRE term deposits prior to maturity period, then they will not earn any interest amount accumulated during the term of the deposit.
• The revised interest rates on FD’s are applicable for new deposits apart from the renewal of existing term deposits.
• Senior Citizens will get to earn a higher rate of interest on the fixed / term deposits.
• The staff of ICICI Bank (current and retired ones) will earn an additional 1% rate of interest on the domestic deposits whose value is less than Rs 1 Crore.

Nomination Facility

Most of the fixed deposits provide nomination facilities to the depositor who can nominate anyone of his choice as the beneficiary of the fixed deposit scheme in the event of the death of the investor before the end of the tenure of the fixed deposit scheme. The nominated individual is referred to as ‘Nominee’. Applicants have to fill in a separate nomination form as prescribed under the Banking Companies (Nomination Rules) of 1985, to avail the nomination benefits.

The depositor can change the nominee at any point of time during the tenure of the fixed deposit scheme by informing the bank’s authorities.

The ICICI Bank also provides nomination facility on its fixed deposit schemes.

Maturity Amount of the Fixed Deposit

Individuals have to check the interest rate yields before investing in a fixed deposit scheme with the help of ICICI Bank FD Calculator. The calculator gives in exact figures, with respect to the maturity value by including the yield value. One has to be careful at the time of entering the interest rate, principal amount and the tenure of the policy at the time of calculating the final maturity value. The compounded yield gives higher returns to the individuals than the normal simple interest value. Most of the Indian banks compound the interest on a quarterly basis.

TDS on Fixed Deposits in ICICI Bank

TDS stands for Tax Deducted at Source and it is deducted from the payments made by the individuals as per the Income Tax Act 1961. The TDS on the fixed deposit is applicable to those who have a taxable income from their earnings, in case if the interest received during a financial year exceeds Rs 10,000.
Investors can fill in the prescribed Form 15G/ 15H for the purpose of availing TDS exemption under Section 194A of the Income Tax Act in case if they do not have taxable income.

The limit for accepting the said Form 15G / 15H. If the limits are breached then the said forms will not be accepted.

 

Category Form Age Threshold exemption limit (Rs.)
Individual     15G   Less than 60 years    2,50,000
Senior Citizen Resident of India     15H  Less than 80 years but more       than 60 years during the year    3,00,000
15H Equal to or more than 80    year during the year     5,00,000  

Latest Atricles

ICICI Bank Hikes Fixed Deposit Interest Rates

The leading private lender – ICICI Bank announced that it has hiked the interest rates on the fixed deposits by 25 basis points. The interest rates on FD’s are for those deposits whose value is less than Rs 1 crore.

The new interest rates are applicable to all the domestic, NRE, NRO fixed deposits with premature withdrawal facility. Apart from this, the bank has also increased the interest rates on the term deposits without premature withdrawal facility.

The new FD interest rates will come into effect from November 15, 2018.

17 November 2018
ICICI Bank Rises Interest Rates on Fixed Deposits

The largest private sector lender – ICICI Bank has increased interest rates on its fixed deposits across select maturities and amount with effect from August 14, 2018. The rates are revised for general as well as senior citizens.

The rates are hiked by 15 basis points and 25 basis points across select maturities and one basis point is equal to 0.01 percent (1 basis point = 0.01%).

The staff of ICICI Bank including retired staff will earn an additional 1 percent interest rate on domestic term deposit below Rs 1 crore.

 

11 September 2018

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