ICICI Bank Fixed Deposit Scheme
The ICICI Bank fixed deposit schemes are among the highest rated in the country. The bank offers good rates of interest on their fixed deposits while also offering other benefits such as an impressive digital presence, excellent customer support and several tax benefits. Take a look at this article to know more about the highly-rated ICICI Bank fixed deposits.
ICICI Bank fixed deposit interest rates
One of the reasons why people prefer these FDs are the excellent ICICI fixed deposit rates. The ICICI Bank fixed deposit interest rates are high. Here are interesting points features about these rates:
1. Among the best in the business
The ICICI bank fixed deposit interest rates are among the best in the Indian banking sector. When you choose to open your FD account with ICICI Bank, you get high rates of interest that can go up to as high as close to 7%.
2. Higher for senior citizens
If you are above the age of 60 years, then you can get an even higher interest rate under the special senior citizen fixed deposit schemes. This is a handy benefit as many retired people depend on their investments to get a steady flow of income. And since fixed deposits are very safe and free of risks, they prove to be the perfect income generator.
3. Higher when tenure is higher
If you open your ICICI Bank fixed deposit for a longer period of time, you will stand to earn a higher rate of interest. This is very good for long-term investors who seek a low-risk, fixed-return investment opportunity.
As you can clearly see from the points mentioned above, the features of the ICICI Bank fixed deposit schemes are very logical and well-defined. As a result, you can get many benefits. The benefits are mentioned in detail in the next section.
ICICI fixed deposit benefits
Here are some of the most attractive benefits available to those who opt for the ICICI Bank fixed deposit schemes:
1. Flexible
Everyone has different investment objectives. While some people like staying invested in a fixed deposit for a long period of time, others prefer to complete the investment goal in shorter time duration. ICICI Bank offers a lot of flexibility with its fixed deposit schemes. You can open an FD for as short a time as a week or as long a tenure as five years, depending on what your needs and preferences are.
2. Tax benefit
As an investor, you will have to choose many different types of tax-effective investment tools. If you are looking for something that will help you to save your money under Section 80 C of the Indian Income Tax Act of 1961, a tax-saving ICICI Bank fixed deposit scheme may be the perfect choice for you. You get tax rebates up to a maximum amount of INR 1.5 lakhs per annum when you make contributions to your fixed deposit fund.
3. Available online
Gone are the days when you had to rush to the bank and stand in long queues if you needed to open a fixed deposit. These days, modern banks like ICICI Bank allow you to digitally open and access your fixed deposit accounts. All you have to do is download the net banking app of the bank or log in to the portal. Then, using your registered login details, sign in and start investing. You can choose the tenure and value of your fixed deposit. Consequently, you will be informed about the rate of interest. If satisfied, you can just enter a few details, click some buttons and your fixed deposit investment will commence.
4. Online tools
Apart from the other benefits stated above, the ICICI Bank fixed deposits also offer many modern-age benefits like easy online tools. For example, you can make use of the very handy ICICI fixed deposit calculator. You can use it to see what the applicable ICICI fixed deposit interest rates are, based on the chosen tenure. You can also see what your maturity amount will be. These are very useful tools that can help you to make better decisions related to your fixed deposit investments.
These benefits help the ICICI fixed deposits to stand out from the rest. Make use of these benefits by opening a good ICICI fixed deposit today!
Interest rates of ICICI Bank fixed deposit schemes
|
Tenure |
Interest rates (p.a.) for deposits of less than INR 2 Cr. | Interest rates (p.a.) for deposits of more than INR 2 Cr. |
| 7 days 14 days | 2.50% |
2.75% |
|
15 days 29 days |
2.50% | 2.75% |
| 30 days to 45 days | 3.00% |
3.00% |
|
46 days 60 days |
3.00% | 3.00% |
| 61 days 90 days | 3.00% |
3.15% |
|
91 days to 120 days |
3.50% | 3.15% |
| 121 days to 150 days | 3.50% |
3.15% |
|
151 days to 184 days |
3.50% | 3.15% |
| 185 days to 210 days | 4.40% |
3.65% |
|
211 days to 270 days |
4.40% | 3.65% |
| 271 days to 289 days | 4.40% |
3.90% |
|
290 days to less than a year |
4.40% | 3.90% |
| 1 year 389 days | 4.90% |
4.05% |
|
390 days to < 15 months |
4.90% | 4.05% |
| 15 months < 18 months | 4.90% |
4.15% |
|
18 months to 2 years |
5.00% | 4.25% |
| 2 years to 3 years | 5.15% |
4.5% |
|
3 years to 5 years |
5.35% | 4.7% |
| 5 years to 10 years | 5.50% |
4.7% |
To sum it up
Practically every bank in India, along with many NBFCs, offer fixed deposits. This is why you need to choose your FD provider with a lot of care. Opt for a good and trustworthy platform such as ICICI Bank. Not only will you get to enjoy the very good ICICI bank fixed deposit interest rates, but also get to experience their award-winning customer service. Check out the fixed deposit schemes, go online and then choose the one that suits you the best.
