ICICI Bank has emerged as India’s largest bank among private sectors. Approximately, the bank holds 12,012 ATMs and 3,845 branches in India.
ICICI Bank is popular among its customers for offering suitable facilities that corresponds to every individual and also for their safe and flexible Fixed Deposit policies.
ICICI Bank delivers to its customer viable rates on several FD policies. The FD policies maintain stability in returns and liquidity, benefiting customers who emphasize on protection and safety of their capital. Customers get to plan their suitable investments with the flexible options of pay-out and sustainable periods.
No maximum limit.
Minimum period to open an FD is one week and maximum is ten years.
The FD will be processed by the bank after the customer submits the KYC documents and the amount either through demand graft or cash/cheque.
ICICI Bank presents alluring interest rates on FDs to its customers that ranges from 4.5-8.5%. Depositors upholding the Traditional Plan make interests at the end of every month while depositors upholding the Reinvestment Plan earn interest quarterly.
ICICI bank charges tax on the earned interest of FD accounts. According to Income Tax Act of 1961 provisions, tax is subtracted. Individuals wanting exemption from the TDS, have to submit form 15H /15G (duly filled).
A customer can benefit a loan of 90% of the fixed deposit money and the ensued interest too. Premature withdrawals are also permissible in terms of 1,000 Rupees.
ICICI assures a special interest rate on domestic term-deposits that is 0.50% higher than the consistent rates.
ICICI Bank provides the facility of issuing credit cards against Fixed Deposit account, having a credit limit of 85% of the total fixed deposit amount.
ICICI Bank offers its facilities of fixed deposits to NRIs. The bank offers several types of Fixed Deposit accounts to NRI customers that will suit their financial need appropriately. The type of NRI FDs offered to NRI customers are as follows:
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