ICICI Bank FDR Interest Rate
The spree of reduction in interest rates on term deposits continued, with ICICI Bank on Tuesday cutting rates on one- and two-year retail deposits by 10 basis points (bps) to 6.9% and 7%, respectively. The bank also slashed the rate on three-year deposits by 25 bps to 6.75%.
ICICI Bank’s interest rate for one-year money is now at par with that of State Bank of India (SBI).
Interest rates on Domestic, NRO & NRE deposits(Less than ₹ 1 crore)
| Tenure Period | Rate of Interest (% p.a.) w.e.f December 28, 2016 | |
|---|---|---|
| General | Senior Citizen* | |
| 7 days to 14 days | 4.00 | 4.50 |
| 15 days to 29 days | 4.25 | 4.75 |
| 30 days to 45 days | 5.50 | 6.00 |
| 46 days to 60 days | 5.75 | 6.25 |
| 61 days to 90 days | 6.25 | 6.75 |
| 91 days to 120 days | 6.25 | 6.75 |
| 121 days to 184 days | 6.25 | 6.75 |
| 185 days to 289 days | 6.25 | 6.75 |
| 290 days to less than 1 year | 6.50 | 7.00 |
| 1 year to 389 days | 6.90 | 7.40 |
| 390 days to 2 years | 7.00 | 7.50 |
| 2 years 1 day upto 5 years | 6.75 | 7.25 |
| 5 years 1 day upto 10 years | 6.50 | 7.00 |
| 5 Years Tax saver FD(Max upto Rs. 1.50 lac) | 6.75 | 7.25 |
Note
- As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD.
- Interest earned on the Fixed Deposit will be subject to Tax Deducted at Source as per Income Tax laws.
- Minimum tenure for Domestic & NRO term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit.
- Minimum tenure for NRE term deposits is 1 year and no interest is payable for deposits prematurely withdrawn within the period of 1 year from the date of deposit.
- These revised interest rates will be applicable for new deposits and renewal of existing term deposits.
- *Senior Citizen rates applicable only for domestic term deposit.
- #The maximum aggregate amount that can be invested in the Tax Saver FD (80C FD) under a single PAN is ₹150,000 and the same cannot be closed prematurely before expiry of the lock-in period of 5 years.
- ICICI bank staff (including retired staff) will get additional 1% rate of interest on domestic deposit below ₹ 1 Cr.
Interest rates on Domestic, NRO & NRE deposits ( ₹ 1 crore and above )
| Single Deposit | Rate of Interest (% p.a.) w.e.f December 16, 2016 | ||||
|---|---|---|---|---|---|
| Tenure Period | ₹ 1 crore to less than ₹ 5 crore | ₹ 5 crore to less than ₹ 25 crore | ₹ 25 crore to less than ₹ 250 crore | ₹ 250 crore to less than ₹ 500 crore | ₹ 500 crore & above |
| 7 days to 14 days | 5.25 | 5.25 | 5.25 | 5.25 | 5.25 |
| 15 days to 29 days | 5.25 | 5.25 | 5.25 | 5.25 | 5.25 |
| 30 days to 45 days | 5.25 | 5.25 | 5.25 | 5.25 | 5.25 |
| 46 days to 60 days | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 |
| 61 days to 90 days | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 |
| 91 days to 120 days | 5.75 | 5.75 | 5.75 | 5.75 | 5.75 |
| 121 days to 150 days | 5.75 | 5.75 | 5.75 | 5.75 | 5.75 |
| 151 days to 184 days | 5.75 | 5.75 | 5.75 | 5.75 | 5.75 |
| 185 days to 210 days | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| 211 days to 240 days | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| 241 days to 270 days | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| 271 days to 300 days | 6.25 | 6.25 | 6.10 | 6.10 | 6.10 |
| 301 days to 330 days | 6.25 | 6.25 | 6.10 | 6.10 | 6.10 |
| 331 days to 364 days | 6.25 | 6.25 | 6.10 | 6.10 | 6.10 |
| 1 year to 389 days | 6.25 | 6.25 | 6.10 | 6.10 | 6.10 |
| 390 days to less than 15 months | 6.25 | 6.25 | 6.10 | 6.10 | 6.10 |
| 15 months to less than 18 months | 6.25 | 6.25 | 6.10 | 6.10 | 6.10 |
| 18 months to 2 years | 6.25 | 6.25 | 6.10 | 6.10 | 6.10 |
| 2 years 1 day to 3 years | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 |
| 3 years 1 day to 5 years | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 |
| 5 years 1 day to 7 years | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 |
| 7 years 1 day to 10 years | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 |
Note:
- As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD.
- Interest earned on the Fixed Deposit will be subject to Tax Deducted at Source as per Income Tax laws.
- Minimum tenure for Domestic & NRO term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit.
- Minimum tenure for NRE term deposits is 1 year and no interest is payable for deposits prematurely withdrawn within the period of 1 year from the date of deposit.
- These revised interest rates will be applicable for new deposits and renewal of existing term deposits.
- For terms & conditions and any other details, please contact your nearest ICICI Bank Branch.
Premature withdrawal of deposit:
On pre-mature withdrawal of the DOMESTIC, NRO & NRE deposits:
- Interest will be calculated at the rate applicable for the period the deposit has actually remained with ICICI Bank.
- Penalty will be levied on the rate applicable as per the table below
| Original Tenure of Deposit | Penal Rates* | |
|---|---|---|
| Less than ₹ 5.0 crore | ₹ 5.0 crore & above | |
| Less than 1 year | 0.50% | 0.50% |
| 1 year & above but less than 5 years | 1.00% | 1.00% |
| 5 years and above | 1.00% | 1.50% |
*Subject to revision without further notice.