7.5% FD Interest Rate: ICICI Bank Extends Special FD Scheme

Leading private bank, ICICI Bank has extended its Special FD Scheme for senior citizens known as "ICICI Bank Golden Years FD". The bank has decided to extend the special FD scheme by yet another 6 months. Now the special scheme will remain available till October 31, 2023, according to the bank's official website.

Interest rates available under ICICI Bank's Golden Years FD:

According to the bank's official website, "Under ICICI Bank Golden Years FD, Resident Senior Citizen customers will get an additional interest rate on an FD of 0.10% for a limited time over and above the existing additional rate of 0.50% per annum." The special interest rates will be available on FDs maturing between 5 years and up to 10 years. Senior citizens will get an interest rate of 7.5% under ICICI Bank Golden Years FDs of 5 years 1 day up to 10 years.

It is worth noting that additional rate will remain available on fresh deposits opened along with deposits renewed during the scheme period. It will be applicable on single FD opened through ICICI Bank of the amount of below Rs 2 crore.

In case of premature withdrawal

In case an FD is opened and the above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the applicable penal rate will be 1.00% with effect from March 14, 2023, according to ICCI Bank's official website.