ICICI Bank Fixed Deposit

ICICI Bank Ltd is the largest private sector bank in India. The bank offers an array of deposit and loan products to its customers through its branches situated all over India. The bank has a branch network of more than 4800 along with more than 14,000 ATMs. ICICI Bank caters to an extensive clientele ranging from the corporate sector to the lowest economic classes. ICICI Bank products are designed depending on the diverse requirements of its customers.

Why ICICI Bank Fixed Deposits?

ICICI Bank Ltd has a fully automated branch network through which it offers a fantastic range of fixed deposits to suit the requirements of every section of society. The bank is at the forefront when it comes to introducing innovative products. Some of its FD products like FD Xtra provide additional benefits like insurance, credit cards, and investment opportunities in SIPs. ICICI Bank has unique products that combine investment and annuity payments.

ICICI Bank Fixed Deposits - Features and Benefits

  • Innovative products that suit the requirements of all sections of society
  • Monthly and quarterly interest payout products are available
  • Facility of cumulative deposits combined with monthly interest payouts as an annuity
  • Recurring deposit products
  • Delightful offers from business partners like Croma, Tanishq, and Thomas Cook
  • Life Insurance cover on specific FD products
  • Facility to invest interest in mutual fund SIPs
  • Credit cards against FD balances
  • A slew of products for the NRI community
  • Attractive interest rates
  • Tax-saving FD options

ICICI Bank Fixed Deposits - Rate of Interest

ICICI Bank offers transparent rates of interest on fixed deposits of various maturities. The pricing depends on the amount of deposit, the nature of deposit (prematurely withdrawable or not), and the tenure.

Domestic/NRO/NRE Deposit rate of interest for amounts less than 2 Crores- with effect from 17.06.2019

The minimum tenure for NRE deposits is one year, and the minimum deposit for NRO deposit is three months.

Deposit Tenure

Rate of Interest (% per annum)

General Public

Senior Citizens

7 days to 14 days

4

4.50

15 days to 29 days

4.25

4.75

30 days to 45 days

5.50

6

46 days to 60 days

6

6.50

61 days to 90 days

6

6.50

91 days to 120 days

6

6.50

121 days to 184 days

6

6.50

185 days to 289 days

6.50

7

290 days to < 1 year

6.75

7.25

1 year to 389 days

6.90

7.40

290 days to Two years

7

7.50

2 years 1 day to 3 years

7.30

7.80

3 years 1 day to 5 years

7.25

7.75

5 years 1 day to 10 years

7

7.50

5-year Tax Saver FD

7.25

7.75

Domestic/NRO/NRE deposits rate of interest for deposits 2 Crores and above - with effect from 26.07.2019

 The minimum tenure for NRE deposit is one year, and the minimum tenure for NRO deposit is three months.

Deposit Tenure

Rate of Interest (% per annum)

2 Cr to < 5 Cr

5 Cr to < 5.10 Cr

5.10 Cr to < 24.90 Cr

24.90 Cr to < 25 Cr

25 Cr to < 100 Cr

100 Cr to < 250 Cr

250 Cr to < 500 Cr

>= 500 Cr

7 to 14 days

5.25

5.25

5.25

5.25

5.25

5.25

5.25

5.25

15 to 29 days

5.25

5.25

5.25

5.25

5.25

5.25

5.25

5.25

30 to 45 days

5.75

5.75

5.75

5.75

5.75

5.75

5.75

5.75

46 to 60 days

6

5.75

6

5.75

6

6

6

6

61 to 90 days

6.25

5.75

6.25

5.75

6.25

6.25

6.25

6.25

91 to 120 days

6.40

6

6.40

6

6.40

6.40

6.40

6.40

121 to 150 days

6.40

6

6.40

6

6.40

6.40

6.40

6.40

151 to 184 days

6.40

6

6.40

6

6.40

6.40

6.40

6.40

185 to 210 days

6.65

6

6.65

6

6.65

6.65

6.65

6.65

211 to 240 days

6.65

6

6.65

6

6.65

6.65

6.65

6.65

241 to 270 days

6.65

6

6.65

6

6.65

6.65

6.65

6.65

271 to 300 days

6.80

6

6.80

6

6.80

6.80

6.80

6.80

301 to 330 days

6.80

6

6.80

6

6.80

6.80

6.80

6.80

331 days to < 1 year

7.05

6

7.05

6

7.05

7.05

7.05

7.05

1 year to 389 days

7

6.25

7

6.25

7

7

7

7

390 days to < 15 months

7

6.25

7

6.25

7

7

7

7

15 months to < 18 months

7

6.25

7

6.25

7

7

7

7

18 months to 2 years

7

6.25

7

6.25

7

7

7

7

2 years 1 day to 3 years

7

6.25

7

6.25

7

7

7

7

3 years 1 day to 5 years

6.75

6.25

6.75

6.25

6.75

6.75

6.75

6.75

5 years 1 day to 10 years

6.75

6.25

6.75

6.25

6.75

6.75

6.75

6.75

Domestic/NRO/NRE deposits without premature withdrawal facility - Rates of interest with effect from 17.06.2019

 The minimum tenure for NRE deposit is one year whereas the minimum tenure for NRO deposit is six months

Deposit Tenure

1 Crore to < 2 Crores

91 to 120 days

6.25

121 to 184 days

6.25

185 to 289 days

6.75

290 days to < One year.

7

1 year to 389 days

7.10

390 days to 2 years

7.20

Deposit Tenure

Rate of Interest (% p.a.) with effect from 26.07.2019

2 Crores to < 100 Crores

100 Crores and above

Seven to 14 days

5.25

5.25

15 to 29 days

5.25

5.25

30 to 45 days

5.75

5.75

46 to 60 days

6

6

61 to 90 days

6.25

6.25

91 to 120 days

6.50

6.50

121 to 150 days

6.50

6.50

151 to 184 days

6.50

6.50

185 to 210 days

6.75

6.75

211 to 240 days

6.75

6.75

241 to 270 days

6.75

6.75

271 to 300 days

6.90

6.90

301 to 330 days

6.90

6.90

331 to < 1 year

6.90

6.90

1 year to 389 days

7.25

7.15

390 days to < 15 months

7.05

7.05

15 months to < 18 months

7.05

7.05

18 months to 2 years

7.05

7.05

2 years 1 day to 3 years

7.05

7.05

3 years 1 day to 5 years

6.80

6.80

5 years 1 day to 10 years

6.80

6.80

Recurring Deposits - Rate of Interest with effect from 17.06.2019

Maturity Period

Rate of Interest (% p.a.)

General Deposits

Senior Citizens

6 months

6

6.50

9 months

6.50

7

12 months

6.90

7.40

15 months

7

7.50

18 months

7

7.50

21 months

7

7.50

24 months

7

7.50

27 months

7.30

7.80

30 months

7.30

7.80

33 months

7.30

7.80

36 months

7.30

7.80

Greater than 3 years and up to 5 years

7.25

7.75

More than 5 years and up to 10 years

7

7.50

iWish Deposits - Rate of interest with effect from 17.06.2019

Tenure or Maturity Period

Rate of Interest

General Public

Senior Citizen

6 months

6

6.50

7 to 9 Months

6.50

7

10 to 11 months

6.75

7.25

12 months

6.90

7.40

13 to 24 months

7

7.50

25 months to 3 years

7.30

7.80

37 months to 5 years

7.25

7.75

5 years 1 day to 10 years

7

7.50

ICICI Bank Fixed Deposits - Types of Deposits

ICICI Bank has various deposit products to suit the needs of every customer. These deposits range from monthly interest payout plans to reinvestment deposits and recurring deposits to tax-saving deposit products.

Traditional Fixed Deposit

Regular Fixed Deposit Account

Product

General fixed deposit for tenures ranging from 7 days to 10 years

Quantum of deposit

  • General public - 10,000 is the minimum deposit
  • Minors - Minimum deposit is 2,000

Tenure

7 days to 10 years

Eligibility

Resident and Non-resident Indians can open this fixed deposit

Nomination

Allowed

Investment plans

  • Traditional plan where interest is payable monthly or quarterly
  • Reinvestment plans are also available - Maturity period between six months and ten years.

Partial withdrawal

Permitted in units of 1,000, whereas the balance amount will earn FD rate of interest.

Premature withdrawal

Allowed subject to penalty

Loans

Allowed up to 90% of FD value

Taxation

As per rules

Fixed Deposit - Without Premature Withdrawal Facility

Product

Traditional FD but without the benefit of premature withdrawal

Quantum of deposit

Minimum deposit amount is 1 Crore

Deposit type

  • Traditional Fixed Deposit with quarterly payouts of interest
  • Reinvestment plans available

Conditions

  • No premature withdrawal
  • Cannot open in auto-renewal mode

Taxation

As per rules

Rate of interest

Additional interest rates for select tenure

Money Multiplier Plan

Product

Liquidity of savings account with the high earning capacity of a Fixed Deposit

Benefits

  • Maximum returns
  • Maximum liquidity

Type of deposit

  • Linking of savings and FD account
  • Surplus amount in savings account to be credited to a fixed deposit account in multiples of 5,000.
  • A minimum deposit of 10,000
  • Automatic reverse sweep facility in multiples of 5,000 if the savings account balance falls below 10,000.

Deposit tenure

  • Minimum of 1 year
  • Customers can specify longer tenures if required

Auto-renewal

Allowed

FD Xtra

ICICI Bank is ahead of the other banks when it comes to introducing innovative products. They understand that the preferences of people have changed over the years. Traditionally, FDs have been excellent instruments for investment because of the security of funds and assured returns. Today, the focus is also on factors like growth, flexibility, and protection. Therefore, ICICI Bank has come with a new product that offers all these facilities. FD Xtra is a suite of deposit products that provide additional benefits. FD Xtra offers the following four deposit products.

FD Life - Fixed Deposit with Insurance Cover

Product

Offers security and returns of a fixed deposit and protection cover as an insurance plan.

Quantum of deposit

Life Cover is available on FDs opened for a minimum of 3 Lakhs

Deposit tenure

Minimum of 2 years

Eligibility

  • Resident Individuals and Non-resident Indians
  • Life cover available with NRI FDs if the NRI customer is in India
  • Group Term Plan (GTP) Life cover available only to the primary holder of the FD.
  • Customers between 18 and 50 years

Life cover

  • GTP Life Cover - valid for one year
  • Insurance Policy - issued to customers after opening the deposit
  • Customers should produce a certificate/declaration of good health to be eligible for life cover.

Effective date

Life cover starts from the FD opening date

Taxation

As per rules

Premature withdrawal

Permitted but the life cover stands withdrawn from the date of withdrawal

FD Invest - Fixed Deposit with Mutual Fund Systematic Investment Plan (SIP)

Product

Unique product where the bank invests the monthly interest earned on the deposit in a Mutual Fund (SIP) to multiply your returns.

Quantum of deposit

  • The amount should be such that the monthly interest should suffice to invest in SIP schemes.
  • The tentative minimum FD amount is 2 Lakhs
  • The minimum amount could vary depending on the rates of interest

Deposit tenure

Any period ranging from 12 months to 10 years

Deposit type

  • Traditional FD with monthly interest payout
  • Auto-renewal and auto-closure facility available

Mutual Fund SIP details

  • Customer can choose from a range of ICICI Prudential Mutual Funds
  • Minimum SIP amount  - 1,000
  • Minimum SIP Tenure -  1 year
  • SIP Frequency - Monthly
  • SIP Date - Date of opening of FD + 3 days

Eligibility

  • Resident Individuals only
  • Savings account with ICICI Bank compulsory
  • Valid PAN card
  • Mode of operation of account - Single
FD Income - A Combination of Cumulative Fixed Deposit and Monthly Income Payout

Product

  • This fixed deposit has two phases, the investment phase and the payout phase.
  • The interest is reinvested in the investment phase. The customer gets monthly payouts as an annuity in the payout phase.

Eligibility

Resident Indians are eligible to open this account in single or joint names

Quantum of deposit

  • The minimum deposit is 1 Lakh
  • Multiples of 25,000 accepted above the minimum amount

Deposit tenure

  • Investment phase - The minimum period is 24 months and subsequently in multiples of one month
  • Payout phase - The minimum tenure is 24 months and further in multiples of 12 months.
  • The total deposit tenure is a combination of both the phases
  • The customer cannot change the combination after deciding on the same

Investment phase

Cumulative deposit during investment phase

 

Payout phase

  • On completion of the investment phase, the maturity proceeds are invested in Annuity Fixed deposit for the payout tenure
  • The customer gets monthly interest payouts

Variant of the scheme

  • In this variant, the customer can opt for part payment in lump-sum and the balance amount as monthly payouts.
  • Under such circumstances, the part payment will be 30% of the maturity proceeds.

Rate of interest

The contracted rate of interest will be for both the phases combined

Taxation

As per rules

Partial withdrawal

Not permitted

Premature withdrawal

Allowed in both phases subject to applicable penalty

FD Card - Benefit of a Credit Card Against Your FD

Product

  • Open FD with ICICI Bank and get a range of credit cards against your FD
  • No other income documents required

Type of deposit

  • Cumulative deposit in auto-renewal mode
  • Interest payout option also available

Quantum of deposit

The minimum amount of FD should be 10,000

Deposit tenure

The minimum period of FD should be 6 months

Eligibility

Resident Individuals only

Types of Credit cards

  • Instant Platinum Credit card free of charge
  • Option to go for Coral Credit Card

Taxation

As per existing rules

Recurring Deposits

Recurring Deposit with Monthly Income Scheme

Product

  • A dual-phase product comprising of the investment and payout phase
  • Features of recurring deposit where you deposit monthly instalments

Eligibility

Resident Indians, singly or jointly

Quantum of deposit

The minimum monthly instalment should be 2,000 and in multiples of 100 subsequently.

Deposit tenure

  • Combined deposit tenure
  • Investment phase - Minimum of 24 months and in multiples of 3 months.
  • Payout phase - Minimum of 24 months and in multiples of 12 months

Investment phase

The customer makes payment of regular monthly instalments to build up a corpus.

Payout phase

Entire proceeds of RD A/c will be invested in an Annuity FD with monthly payout.s

Variant of the scheme

  • Customer can opt to receive a lump-sum payment amounting to 30% of the maturity proceeds at the beginning of the payout phase.
  • The balance amount is spread over the payout phase and payable monthly.

Taxation

As per rules

Penalty for delayed instalment

12 per 1,000 (monthly basis)

Partial withdrawal

Not allowed

Premature withdrawal

Permitted subject to penalty

Recurring Deposits - Traditional RD and RD with Specific Desired Partners

Product

  • Traditional recurring deposit product where you build up your savings using monthly instalments.
  • Select a desired partner to avail benefits - Thomas Cook, Tanishq, Croma

Quantum of deposit

  • The minimum monthly payment is 2,000
  • Minimum monthly instalment for a traditional RD is 500 and in multiples of 100.

Deposit tenure

  • Fixed for 12 months for Delightful offers
  • The deposit tenure can range from 6 months to 10 years for the regular RD Account.

Delightful Offers

Croma

Deposit features

  • Minimum monthly instalment - 5,000 and in multiples of 1,000
  • Tenure - 6 months or 12 months
  • Get additional benefit from Croma (depends on deposit amount and tenure) over the interest paid by ICICI Bank.
  • An additional benefit is higher for the purchase of domestic electronic appliances.
  • Payment - Transfer proceeds to Croma Gift voucher on maturity
  • Gift voucher valid for one year from maturity of RD
  • Redemption - Use online at the Croma website or purchase electronic appliances of your choice.

 

Tanishq

Features

  • Tanishq Jewellery Plan in partnership with Tanishq
  • Minimum monthly instalment - 3,000
  • Specific instruction to transfer the proceeds to Tanishq Jewellery Card on maturity.
  • At maturity, get 80% of the first instalment value as RD interest plus additional benefit from Tanishq.
  • On maturity, proceeds get transferred to Tanishq Jewellery Card
  • Present this card to purchase Tanishq jewellery
  • Voucher valid for one year

 

Thomas Cook

Features

  • Save for your dream holiday by investing in recurring deposit in partnership with Thomas Cook.
  • Standing instructions to debit your savings account for payment of instalment
  • Earn regular interest on RD
  • Get a top-up from Thomas Cook on the maturity of your RD
  • Choose from a wide range of national and international holiday packages
  • Alternatively, you have the option to alter the maturity instructions and transfer the amount to your linked savings account
iWish Recurring Deposit

Product

Similar to RD but with a facility to make multiple deposits at various intervals

Quantum of deposit

A minimum amount of 500

Frequency

  • Unlike the RD account where you deposit the monthly instalment on a fixed day, the iWish RD account permits you to deposit any time.
  • Multiple deposits are also allowed

Flexibility

Three round-off options available in denominations of 50, 100, and 500

Penalty for delayed instalment

No penalty

Taxation

As per rules

Tax-Saving Fixed Deposit

Tax Saving Fixed Deposit

Product

  • Traditional FD plan where you get monthly or quarterly payout of interest
  • Reinvestment option available
  • Get tax exemption on the deposit under Sec 80C of IT Act

Quantum of deposit

The minimum investment is 10,000 while the maximum deposit can be up to 1.50 Lakhs.

Deposit tenure

Fixed for 5 years

Conditions

  • No loan against FD
  • No premature payment of Tax Saving FD
  • No auto-renewal facility

Special Deposit Product for Employees of Corporate Entities

Security Deposits for Employees of Corporate Entities

Product

Security deposit by employees of corporate entities to prevent attrition

Eligibility

Employees of corporate entities maintaining accounts with ICICI Bank

Quantum of deposit

The minimum amount is 10,000 and in multiples of 1

Deposit tenure

6 months to 10 years

Interest compounding

Quarterly compounded and reinvested

Taxation

As per rules

Conditions

  • No auto-renewal
  • Deposit available in a single mode of operation
  • Cannot close the deposit without the consent of the company
  • Deposit accepted on the specific request of the company based on the application of the employee and acknowledgement letter from the employer.
  • No loan or overdraft against the deposit
  • Payment at maturity as per terms mentioned in the application letter

Non-Resident Deposits

FCNR (B) Fixed Deposit Account

Product

  • FCNR deposits give a high yield in foreign currency
  • Facility to book FCNR in nine currencies

Quantum of deposit

  • USD, GBP, EUR, and CHF - Minimum deposit is 1,000
  • SGD, CAD, and AUD - Minimum investment is 2,000
  • HKD - The minimum deposit is 10,000
  • JPY - Minimum amount of deposit is 200,000

Deposit tenure

1 to 5 years

Taxation

Tax-free in India

Repatriable

Principal and Interest fully repatriable

Loans

Up to 85% with a maximum of 5 Crores

Resident Foreign Currency A/c - for returning NRIs

Product

Foreign currency FD for NRIs who have returned to India

Currency of deposit

USD, GBP, Euro, and JPY

Repatriable

Allowed on gaining NRI status

Rupee Plus Plan

Product

Special deposit to ensure higher returns in Indian currency

Currency of deposit

USD, GBP, Euro, CAD, AUD,  JPY, and INR

Repatriable

Fully repatriable

Minimum deposit

USD - 2,500

EUR - 2,500

GBP - 1,000

JPY - 200,000

AUD - 2,000

CAD - 2,000

INR - 1,00,000

Deposit tenure

One year and one day

Premature payment

Not allowed

Taxation

Interest earned in India is tax-free

  • NRE/NRO FDs and Recurring Deposit products are similar to the resident FD and RD products. The minimum period of deposit for NRE FD is one year, whereas it ranges from three months to six months for NRO FD.
Sampanna Recurring Deposit Scheme for NRIs

Product

NRE Recurring deposit scheme that enables you to earn a lump-sum amount of 1 million on maturity.

Features

  • Interest earned is non-taxable
  • Principal and interest are repatriable
  • Monthly instalment automatically debited from NRE SB account
  • Flexible payments

Quantum of deposit

Instalments start from as low as 5,800 and can go up to 80,300 depending on the deposit tenure.

Deposit tenure

Ranging from 1 year to 10 years in multiples of 3 months

Documents Required for Opening ICICI Bank Fixed Deposits

Here are the KYC documents required to open ICICI Bank Fixed deposits:

Identity Proof - Any one of the following:

  • Passport
  • PAN Card
  • Driving Licence
  • Voter ID Card
  • Photo Ration card
  • Government ID card
  • Senior Citizen ID Card

Address Proof - Any one of the following:

  • Passport
  • Electricity Bill
  • Telephone Bill
  • Bank statement of account with a cheque
  • An ID card issued by Post Office

Non-Resident Indians have to submit the following documents:

  • Current passport
  • Work permit/employment visa
  • Current Indian address proof - for RFC accounts
  • Student Visa - for students
  • Seafarer's declaration - for seafarers

Procedure to open ICICI Bank Fixed Deposits

Customers can open ICICI Bank FD in different ways.

Online opening of ICICI Bank FD

  • Using Internet banking
  • Using ICICI Bank ATM/debit card
  • Using ICICI Bank Mobile Banking
  • Using ICICI Bank Twitter Banking 

Opening of ICICI Bank FD offline

  • ICICI Bank Phone Banking
  • Visiting ICICI Bank branch

How do you open ICICI Bank Fixed Deposit Online?

Internet banking

  • Log in with your ICICI Bank internet banking user ID and password
  • Click on the 'Open Fixed Deposit' option
  • Fill in the required information and submit

ICICI Bank ATM/Debit card

  • Select an ICICI Bank ATM
  • Enter the debit card and PIN
  • Complete the FD details
  • Pay the amount using your debit card to create online FD

ICICI Bank Mobile Banking

  • Log in to your mobile banking app
  • Select 'Deposits' option
  • Choose your preferred product and complete the formalities

ICICI Bank Twitter Banking

  • Register for the icicibankpay feature
  • Send Direct message #GenOTP to receive the OTP on your registered mobile
  • Send Direct message #OpenFD

How Do You Open ICICI Bank FD Using Phone Banking?

Dial 1860 120 7777 and speak to a customer care executive of ICICI Bank. Follow the instructions to open your ICICI Bank FD.

Maturity Value Calculator

ICICI Bank offers various calculators on its website to enable customers to calculate their FD and RD maturity amounts. It is also possible to calculate the FD and RD Closure amounts using the specific calculators.

Using the FD Maturity value calculator is easy.

  • Select the category of deposit, normal or senior citizen
  • Use the dropdown box to select the type of interest payouts such as cumulative, monthly/quarterly payout, or short-term FD.
  • Enter the amount and tenure
  • You get the maturity value along with the maturity date and interest amount

Tax Deduction at Source on Fixed Deposit Interest

  • Interest earned on fixed deposits in India is taxable
  • Banks have to deduct TDS @ 10% if the interest payable to the depositor exceeds 40,000 ( 50,000 in case of senior citizens) in a financial year.
  • Customers can submit Form 15G (Senior citizens submit Form 15H) to request the bank not to deduct TDS.
  • Customers must include their PAN details while submitting Form 15G/H, as otherwise, banks can deduct TDS @ 20%.
  • Interest received on NRO FDs is entirely taxable @ 30.90%

Premature Payment Penalty - ICICI Bank Fixed Deposits

ICICI Bank permits early withdrawals of deposits before the maturity date. Under such circumstances, the bank charges a penalty.

  • The bank pays interest on the deposit amount for the tenure it remained with the bank.
  • The applicable rate of interest is the lower of the contracted rate and the rate for the period that remained with the bank.
  • No interest is payable on amounts withdrawn prematurely within seven days of the deposit.
  • The penalty levied is as follows.

Original Tenure of Deposit

Penal Rates

Less than 5 Crores

5 Crores and more

Less than One year

0.50%

0.50%

One year and above and less than five years

1.00%

1.00%

Five years and above

1.00%

1.50%

Penalty of Delayed Recurring Deposit Instalment

  • The customer has to pay the recurring deposit instalment on time every month.
  • In the case of delay, the bank can charge penalty @ 12 per 1000 for all delayed instalments
  • The penalty is deducted from the maturity amount at the time of payment/closure of the account.

ICICI Bank Fixed Deposits - Frequently Asked Questions

What is the interest payment frequency in ICICI FD?

The interest payment frequency depends on the choice of the customer. You can opt for monthly or quarterly payouts of interest. Under such circumstances, the bank calculates simple interest on the deposit amount. Customers can also register for reinvestment products where the interest is reinvested and payable on maturity. The bank compounds the interest on a half-yearly basis and credits it to the principal deposit account.

Is it possible to open FD through Phone Banking?

Yes, it is possible to do so. The procedure is a straightforward one:

  • Call the Customer Care Centre
  • Select your language
  • Press '1' if you are an existing customer
  • Press '1' if you wish to know about banking accounts
  • Enter your debit card number and PIN and speak to the concerned Phone Banking Officer.
  • Provide the details and authorise the transaction to open your FD.

Is it necessary to have a PAN card for opening FD?

PAN Card is a useful document for opening FD accounts. It is not compulsory to have a PAN card for opening FD. However, if you have to submit your Form 15G, it is necessary to incorporate the PAN details.

Is it necessary to open ICICI FD online?

No, it is not compulsory to open ICICI Bank FD online. Online opening of your FD is a facility available to you to ensure hassle-free FD opening process. You can visit the ICICI Bank branch to open FD.

Are ICICI Bank FDs transferable from one branch to another?

Yes, the ICICI Bank FDs are transferable from one branch to another. However, you might not require this facility, as you can view the details of all your FDs online.

Can NRIs open FD in joint names with resident Indians?

Yes, NRIs can open joint accounts with close relatives with the operating instructions, 'Former or Survivor.'

How can an NRI open an account with ICICI Bank?

NRIs can open accounts with ICICI Bank in three simple steps.

  • Access the official NRI banking page of ICICI Bank and provide the contact details
  • The bank executive will call you and help you in completing the formalities
  • ICICI Bank arranges for the free pick-up of documents from anywhere (more than 200 countries) in the world.

Is it possible to get loans against your fixed deposits?

Yes, customers have the facility to avail loans and overdrafts against their ICICI Bank Fixed Deposits. The bank allows loan up to 90% of the FD value. It is also possible to get a credit card facility against your FD.

Can I take premature payment of my fixed deposit?

Yes, it depends on the type of deposit you select while opening the FD. ICICI Bank has specific deposit products that allow premature withdrawals subject to a stipulated penalty. It also offers deposit products where premature payment is not permitted.

Can you close ICICI Bank FD online?

Yes, FDs that have been opened online can be closed online, as well. You should have an internet or mobile banking facility to close FDs online.

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