ICICI Money Multiplier Plan gives you maximum liquidity with the benefit of Fixed Deposits (FDs). You can earn higher interest on the linked FD/s. If you have an Indian Savings Bank (SB) Account at the ICICI Bank, then you can request this facility. You can link more than one FD to the account. You can send a request for the same through branch visit, infinity, internet banking, phone banking, etc. Transfers to the FD happens in the multiples of Rs. 5,000 each.
Both ‘Auto Sweep In’ and ‘Auto Sweep Out’ options are available. You can transfer the surplus balance to the stipulated amount in your SB account to the FD, and earn a higher interest on the investment. Similarly, if the savings account falls short of the minimum quarterly balance mandated, then the FD is broken to replenish the shortfall amount.
In this post, we will discuss ICICI Bank Money Multiplier Plan features, auto-renewal, premature withdrawal, eligibility criteria, interest rates, and FAQs.
Get the chance to multiply your money at the maximum possible rate of interest for 390 days. Here are the features you must know:
Under the ICICI Bank Money Multiplier Plan, if the deposit falls due, then the bank will renew the accrued interest and principal automatically for the tenure same as that of the original deposit. Here are the penalties on premature withdrawal of the FD:
Here are the norms for eligibility:
Here is more information on ICICI Bank savings accounts interest rates:
Here are the FAQs:
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