ICICI Bank Offers Attractive Interest Rate On This FD Scheme, Expiring Soon

Fixed Deposits have become an attractive investment option for citizens that not only offer safety but liquidity and flexibility. FDs with ICICI Bank offer additional interest rate of 0.50% to senior citizens customers over and above the regular fixed deposit interest rate, according to the website of ICICI Bank.

ICICI Bank introduced Golden Years FD Scheme for senior citizens on May 20, 2022, when coronavirus pandemic spread all over the world. Golden FD scheme is valid on single fixed deposit below Rs 2 crore. The scheme will remain valid till October 7, 2022.

Now the bank has hiked the interest rate by 0.25% per annum on Golden Year FDs above 5 years tenure. According to ICICI official website, resident senior citizen customers, will get an additional interest rate of 0.25% for limited time over and above existing additional rate of 0.50% per annum.

The FD will be eligible for 5 years 1 day up to 10 years. The FD is applicable on single FD of amount less than Rs 2 crore. In case deposit opened in above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the applicable penal rate will be 1.25%. In case the deposit opened in above scheme is prematurely withdrawn/closed before 5 years 1 day, the prevailing premature withdrawal policy will be applicable, according to the website.

General citizens get an interest rate of 5.75% on deposits maturing in 5 years 1 day to 10 years. ICICI Banks offers an additional 0.50% interest rate to senior citizens taking the interest rate to 6.25% and with an additional interest rate of 0.25%, senior citizens will now get an interest rate of 6.50% for deposits maturing in 5 years 1 day to 10 year.