Amid declining interest rate regime, ICICI Bank has a gift for senior citizens. The leading commercial bank in the country has launched a special Fixed Deposit (FD) Scheme for Senior Citizens- ICICI Bank Golden Years FD. The scheme offers best rate of interest at 6.55% per annum for term deposits up to ₹2 crore for a tenure of more than five years one day to ten years.
The new scheme offers an additional interest rate of 0.30% on Fixed Deposits above 5 years tenure to the senior citizens. This is over and above the present premium of 0.5% being offered on all senior citizen FDs. The scheme is effective from May 20, 2020 to September 30, 2020.
The customers can avail the offer on new fresh deposits as well as FD renewals during the scheme period. The
In case the customer withdraws prematurely or closes the account on or after 5 years 1 day, the applicable penal rate will be 1.30%. However, the withdrawal and closure before 5 years 1 day will make prevailing premature withdrawal policy applicable.
All other regular terms and conditions of Bank FDs apply as usual. The customers can also apply for a loan against their FD up to 90% of principal value and accrued interest. ICICI Bank also offers credit card against FD.
Earlier this week State Bank of India (SBI), followed by HDFC Bank also launched special FD schemes for senior citizens respectively.
Updated On Jun 30, 2026
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Written By Reshma RawatAssistant Content ManagerCredit Cards, Credit Score, Personal Loan, Home Loan, etc.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
