ICICI Bank Promising These Interest Rates (W.e.f. 9th April 2022) On FD Xtra

Fixed deposit investments in the debt category are one of the best financial products when it comes to security and guaranteed returns. However, in addition to the same, ICICI Bank offers a scheme known as FD Xtra to customers seeking additional perks and options. ICICI Bank FD Xtra is available in four different versions: FD Life, FD Invest, FD Income, and FD Card. According to the bank, these variants offer customers protection, monthly income, credit card, critical illness, or the opportunity to earn higher returns.

Customers of FD Life can benefit from the guaranteed returns of Fixed Deposits (FDs) as well as the protection of insurance coverage. This variant provides complimentary life insurance of Rs 3 lakh for a period of one year when you open a fixed deposit of Rs 3 lakh or more for a minimum of two years. It can be opened by residents between the ages of 18 and 50, and both single as well joint accounts can be opened under ICICI Bank FD Life.

Customers who want to maintain their fixed deposit and mutual fund SIPs in one portfolio can use FD Invest. Customers can benefit from a Fixed Deposit (FD) and the growth potential of a Mutual Fund Systematic Investment Plan (SIP) with ICICI Bank FD Invest. The scheme allows you to earn monthly interest on your deposit made, and the same interest is invested in a Mutual Fund SIP that can be chosen by a customer from a wide range of ICICI Prudential Mutual Funds. The minimum amount of FD required for the variant is Rs 3 lakh and can be parked for a tenure of 12 months to 10 years. The deposit should be for an amount that can produce the monthly interest necessary to invest in the specified MF SIP schemes, and the minimum amount will vary depending on the interest rates in effect at the time the FD is established. The minimum SIP amount for Mutual Fund SIP is Rs 1000 for a minimum tenor of one year. Resident customers must have an active ICICI Bank Savings Account in order to open an ICICI Bank FD Invest account.

The ICICI Bank FD Income or Fixed Deposit Monthly Income Option is a one-of-a-kind product that provides consistent monthly income over a specified period of time. This deposit can be established by resident individuals, either individually or jointly, with a minimum amount of Rs 1 lakh and can be increased to multiples of Rs 25,000 after that. The minimum investment period is 24 months, and you can extend it in multiples of one month after that. The minimum payout period is 24 months, and you can extend it in multiples of 12 months after that.

The ICICI Bank FD Income features two phases: an investment phase and a payout phase which is also known as the benefit phase. The maturity proceeds are deposited in an annuity Fixed Deposit for the payout duration, and monthly payments are transferred to your Savings Account in the payout phase when the investment phase is over. Recurring Deposit (RD) with monthly income option, RD with lump sum and monthly income option, fixed deposit (FD) with monthly income option, and FD with a lump sum and monthly income option are the four types of variants available under ICICI Bank Fixed Deposit (FD) Income.

The FD Card is the last alternative, which combines an instant credit card with a fixed deposit (FD). You can choose from three different types of credit cards, each having a maximum of 90% of your FD amount. This fixed deposit option is only available in limousine renewal mode and can be booked as a cumulative FD or a regular FD for a minimum amount of Rs 10,000 and a period of over 6 months. Customers can obtain a free instant Platinum Credit Card once they make a Fixed Deposit, and they can also apply for an ICICI Bank Coral Credit Card or ICICI Bank Rubyx Credit Card. The minimum fixed deposit amount required for the ICICI Bank Instant Platinum Credit Card is Rs 10,000, the minimum deposit amount required for the ICICI Bank Coral Credit Card is Rs 30,000, and the minimum deposit amount required for the ICICI Bank Rubyx Credit Card is Rs 75,000.

The FD will generate existing fixed interest rates as applicable for the deposit term for which the account was opened for all four versions under the FD Xtra described above. ICICI Bank revised its FD Xtra interest rates on April 9, 2022, and now provides below-listed interest rates on domestic, NRO, and NRE deposits (Less than Rs 2 crore).

Tenors	Regular Rates	Senior Citizens
7 days to 14 days	2.50%	3.00%
15 days to 29 days	2.50%	3.00%
30 days to 45 days	3.00%	3.50%
46 days to 60 days	3.00%	3.50%
61 days to 90 days	3.00%	3.50%
91 days to 120 days	3.50%	4.00%
121 days to 184 days	3.50%	4.00%
185 days to 289 days	4.40%	4.90%
290 days to less than 1 year	4.40%	4.90%
1 year to 389 days	5.00%	5.50%
390 days to less than 18 months	5.00%	5.50%
18 months to 2 years	5.00%	5.50%
2 years 1 day to 3 years	5.20%	5.70%
3 years 1 day to 5 years	5.45%	5.95%
5 years 1 day to 10 years	5.60%	6.35%
5 Years Tax saver FD (Max upto Rs. 1.50 lac)	5.45%	5.95%
Rate of Interest (% p.a.) w.e.f April 09, 2022. Source: Bank Website