Unlock Financial Growth with ICICI Bank's Attractive Fixed Deposit Options

Established as a leading financial entity in India, ICICI Bank, headquartered in Vadodara, Gujarat, offers a spectrum of banking services to both individual and corporate customers. Among its varied offerings, the Fixed Deposit (FD) options stand out, providing a secure investment route with competitive interest rates.

Explore a Range of Fixed Deposit Schemes

ICICI Bank's FD schemes cater to different customer requirements:

• The Regular Fixed Deposit enables investors to decide on tenure and deposit amounts starting from Rs. 10,000, offering attractive rates and loan facilities reaching up to 90% of deposited sums, with interest payable at maturity.
• Aimed at tax-conscious investors, the Tax Saving Fixed Deposit initiates at Rs. 10,000, with options for traditional or reinvestment plans, alongside nomination and auto-renewal options.
• The Security Deposits scheme benefits corporate employees with flexible terms, quarterly compounded interest, and direct savings account contributions.
• Special options like the Money Multiplier Fixed Deposit offer savings account liquidity with FD-level earnings, starting from Rs. 5,000, and come with loan facilities and 80C tax benefits.
• For a steady income, the Fixed Deposit with Monthly Income Option transforms into a cumulative FD during the investment term with monthly payouts and interest.
• The FD Xtra suite provides additional benefits like complimentary insurance to support various life-stage objectives.

Interest Rates: Suited to Your Tenure

ICICI Bank's FD interest rates vary with the tenure:

• Short-term: 3.00% p.a. to 5.50% p.a. (7 days to 12 months)
• Medium-term: 6.10% p.a. to 6.35% p.a. (1 year to less than 5 years)
• Long-term: 6.25% p.a. (5 years to 10 years)
• Senior Citizens: Benefit from a preferential 6.95% p.a.

Ease of Opening an ICICI Bank FD

Opening an FD is straightforward via Internet banking, mobile app, or a visit to a local branch. For Regular ICICI FD, a minimum deposit of Rs. 10,000 is required, alongside identity and address verification. Loans up to 90% of the deposit value are available.

Tax Considerations

Investments in Tax Saving FDs with ICICI Bank are eligible for Section 80C tax benefits (up to Rs. 1,50,000 annually). However, interest income is taxed as per individual slab rates, with a 10% TDS applicable if earnings surpass Rs. 40,000 annually (Rs. 50,000 for senior citizens).

Conclusion: Secure Your Savings, Enhance Returns with ICICI Bank FDs

ICICI Bank's range of FD options is tailored to suit various needs, offering appealing interest rates and numerous benefits. Whether it's flexibility, tax benefits, or a regular income you're after, the bank's FD schemes offer comprehensive solutions. Consider starting an ICICI FD today to safeguard your assets and enjoy significant returns.

Disclaimer: Financial products carry market risks. It's recommended to make informed financial decisions.