ICICI FD Rates 2023 - Latest Fixed Deposit Rates
ICICI FD Rates 2023 - Latest Fixed Deposit Rates
May 10, 2023
5 Minutes
Unlocking Financial Growth: Explore ICICI Bank's Attractive Fixed Deposit Options
ICICI Bank stands as a financial powerhouse in India, headquartered in Vadodara, Gujarat. Renowned for its diverse banking products and services, ICICI Bank caters to both retail and corporate customers. Among its popular offerings, the Fixed Deposit (FD) options provide a secure avenue for customers to invest their money for fixed periods and earn competitive interest rates.
Diverse Fixed Deposit Schemes to Meet Your Goals
ICICI Bank presents a range of FD schemes to address varied customer needs. The Regular Fixed Deposit allows depositors to choose tenure and deposit amount with a minimum requirement of Rs. 10,000. Enjoy attractive interest rates, and benefit from loan facilities up to 90% of the deposit amount, with interest payable at maturity.
For tax-savvy investors, the Tax Saving Fixed Deposit serves as an ideal choice. Opening with Rs. 10,000, customers can opt for traditional or reinvestment plans, with nomination and auto-renewal facilities available.
Corporate employees can leverage the Security Deposits scheme for flexible investment periods, compounded quarterly interest, and contributions to their savings accounts.
Special FD schemes like the Money Multiplier Fixed Deposit offer liquidity akin to savings accounts and the high earnings of fixed deposits. With a minimum deposit of Rs. 5,000, customers can benefit from loan facilities and tax benefits under section 80C.
For those seeking regular income, the Fixed Deposit with Monthly Income Option provides a cumulative FD account during the investment phase and monthly payouts along with interest.
The FD Xtra suite of products from ICICI Bank offers free insurance cover and assistance in achieving life-stage goals.
ICICI Bank FD Interest Rates: Tailored to Your Tenure
ICICI Bank's FD interest rates vary based on the deposit tenure:
Short-term (7 days to 12 months): 3.00% p.a. to 5.50% p.a.
Medium-term (1 year to less than 5 years): 6.10% p.a. to 6.35% p.a.
Long-term (5 years to 10 years): 6.25% p.a.
Senior citizens enjoy a preferential rate of 6.95% p.a.
Opening an ICICI Bank FD: Convenience at Your Fingertips
Opening an ICICI Bank FD is convenient through Internet banking, the mobile app, or by visiting the nearest branch. The minimum deposit for a Regular ICICI FD is Rs. 10,000, with valid identity and address proofs required. Loan facilities up to 90% of the deposit amount are available.
Tax Implications and Considerations
While investments in ICICI Bank Tax Saving FDs qualify for tax savings under Section 80C (up to Rs. 1,50,000 p.a.), it's essential to note that interest income is taxable per income tax slab rates. A 10% TDS applies if the income exceeds Rs. 40,000 p.a. (Rs. 50,000 p.a. for senior citizens).
Conclusion:
Secure Your Savings, Maximize Returns with ICICI Bank FDs
ICICI Bank offers a suite of fixed deposit options tailored to diverse needs, providing attractive interest rates and benefits. Whether seeking flexibility, tax savings, or a regular income, ICICI Bank's FD schemes offer solutions. Consider opening an ICICI FD account today to safeguard your savings and reap substantial returns.
Disclaimer: Financial products are subject to market risks. Readers are advised to make informed financial decisions.
Unlocking Financial Growth: Explore ICICI Bank's Attractive Fixed Deposit Options
ICICI Bank stands as a financial powerhouse in India, headquartered in Vadodara, Gujarat. Renowned for its diverse banking products and services, ICICI Bank caters to both retail and corporate customers. Among its popular offerings, the Fixed Deposit (FD) options provide a secure avenue for customers to invest their money for fixed periods and earn competitive interest rates.
Diverse Fixed Deposit Schemes to Meet Your Goals
ICICI Bank presents a range of FD schemes to address varied customer needs. The Regular Fixed Deposit allows depositors to choose tenure and deposit amount with a minimum requirement of Rs. 10,000. Enjoy attractive interest rates, and benefit from loan facilities up to 90% of the deposit amount, with interest payable at maturity.
For tax-savvy investors, the Tax Saving Fixed Deposit serves as an ideal choice. Opening with Rs. 10,000, customers can opt for traditional or reinvestment plans, with nomination and auto-renewal facilities available.
Corporate employees can leverage the Security Deposits scheme for flexible investment periods, compounded quarterly interest, and contributions to their savings accounts.
Special FD schemes like the Money Multiplier Fixed Deposit offer liquidity akin to savings accounts and the high earnings of fixed deposits. With a minimum deposit of Rs. 5,000, customers can benefit from loan facilities and tax benefits under section 80C.
For those seeking regular income, the Fixed Deposit with Monthly Income Option provides a cumulative FD account during the investment phase and monthly payouts along with interest.
The FD Xtra suite of products from ICICI Bank offers free insurance cover and assistance in achieving life-stage goals.
ICICI Bank FD Interest Rates: Tailored to Your Tenure
ICICI Bank's FD interest rates vary based on the deposit tenure:
Short-term (7 days to 12 months): 3.00% p.a. to 5.50% p.a.
Medium-term (1 year to less than 5 years): 6.10% p.a. to 6.35% p.a.
Long-term (5 years to 10 years): 6.25% p.a.
Senior citizens enjoy a preferential rate of 6.95% p.a.
Opening an ICICI Bank FD: Convenience at Your Fingertips
Opening an ICICI Bank FD is convenient through Internet banking, the mobile app, or by visiting the nearest branch. The minimum deposit for a Regular ICICI FD is Rs. 10,000, with valid identity and address proofs required. Loan facilities up to 90% of the deposit amount are available.
Tax Implications and Considerations
While investments in ICICI Bank Tax Saving FDs qualify for tax savings under Section 80C (up to Rs. 1,50,000 p.a.), it's essential to note that interest income is taxable per income tax slab rates. A 10% TDS applies if the income exceeds Rs. 40,000 p.a. (Rs. 50,000 p.a. for senior citizens).
Conclusion:
Secure Your Savings, Maximize Returns with ICICI Bank FDs
ICICI Bank offers a suite of fixed deposit options tailored to diverse needs, providing attractive interest rates and benefits. Whether seeking flexibility, tax savings, or a regular income, ICICI Bank's FD schemes offer solutions. Consider opening an ICICI FD account today to safeguard your savings and reap substantial returns.
Disclaimer: Financial products are subject to market risks. Readers are advised to make informed financial decisions.
Author
Pluto Team
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