DOMESTIC TERM DEPOSITS RATES OF ICICI BANK

Fixed Deposit Rates: For Domestic Deposits below Rs. One Crore

Click here to open a FD

Maturity Period Rates of Interest (% p.a.) w.e.f August 16, 2013 For deposit less than Rs. 1 crore General Senior Citizen 7 days to 14 days 4.50 5.00 15 days to 29 days 4.75 5.25 30 days to 45 days 5.50 6.00 46 days to 60 days 7.00 7.50 61 days to 289 days 7.75 8.25 290 days to less than 1 year 7.75 8.25 1 year to 389 days 8.00 8.50 390 days to 2 years 9.00 9.50 2 years 1 day upto 5 years 8.75 9.50 5 years 1 day upto 10 years 8.50 9.25 Tax Saver FD 80C (5 year) – Upto Rs. 1 lac 8.75 9.50

*Subject to revision without further notice.

Premature withdrawal of Deposit:

On pre-mature withdrawal of the deposit:

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 Rs. 5.0 Crore Rs. 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.

Note:

That Interest earned on the Fixed Deposit will be subject to Tax Deducted at Source as per Income Tax laws.

That the minimum tenure for term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of       deposit.

For interest rates on Fixed Deposits for Rs. 1 Cr and above, please contact your relationship manager or nearest ICICI Bank branch.

Recurring Deposit rates:

Maturity Period Rates of Interest (% p.a.) w.e.f August 16, 2013 General Senior Citizen 6 months 7.75 8.25 9 months 7.75 8.25 12 months 8.00 8.50 15 months 9.00 9.50 18 months 9.00 9.50 21 months 9.00 9.50 24 months 9.00 9.50 27 months 8.75 9.50 30 months 8.75 9.50 33 months 8.75 9.50 3 years to 5 years 8.75 9.50 Above 5 years upto 10 years 8.50 9.25

Note:

Recurring Deposits will be available for a minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.

Penalty on Delayed Installment:

Penalty is charged at monthly interest at the rate of Rs.12 per Rs.1000 for all delayed installments.

Fraction of a month will be treated as full month for the purpose of calculating such interest.

The total interest so chargeable shall be recovered from the total amount of interest payable at the time of maturity.

Premature withdrawal of Recurring Deposit (Click Here) Source:http://www.icicibank.com/

Difference between Fixed Deposit & Recurring Deposit

          

               Both Fixed Deposits & Recurring Deposits are meaningful in its own  scenarios.  Fixed Deposits (FD) is the deposit if you have a lump sum amount to deposit at once for a specified period.  If you have the sufficient money to invest in FD Whereas if you do not have the a lump sum amount to invest and you want to deposit periodically smaller amount, then RD will be better option for you. If you are opening the FD/ RD offline mode through branch of your bank, then the amount deposited will be tax free under income tax. But now a days many banks are providing their customers FD & RD through online banking called eFD & eRD. In online mode rate of interest will be similar but the amount of deposit will not be exempted under section 80(C) of income tax whereas the  but you save your time from opening A/C through bank. After completion of specified period (term), the amount will automatically be refunded into same A/C from which eFD/ eRD was debited. The interest earned will be as income & not exempted by income tax. For senior citizens there is relatively higher rate of interest. But anyhow it is recommended to keep money in FD or RD instead of keeping in the saving A/C in order to fight inflation and increase the account balance. The deposite rates of few leading banks are mentioned in the link given below:

• DOMESTIC TERM DEPOSITS RATES OF SBI
• DOMESTIC TERM DEPOSITS RATES OF ICICI BANK

See Also:

---

 Go to Home                             SITE MAP                           See Latest IDA           

---