ICICI Bank FD Interest Rates

About ICICI Bank  

ICICI Bank, originally established in 1955 as the Industrial Credit and Investment Corporation of India, was formed through a joint initiative by the World Bank, the Government of India, and representatives of Indian industry. It began as a development financial institution focused on providing long-term project finance to Indian businesses.

Over the years, especially after the liberalisation of India’s financial sector in the 1990s, ICICI evolved into a comprehensive financial services provider. In 1994, ICICI Bank was incorporated as part of the ICICI Group, and in 1999, ICICI became the first Indian company to be listed on the New York Stock Exchange.

Today, ICICI Bank is one of India’s leading private sector banks, headquartered in Vadodara with its corporate office in Mumbai. The bank offers a variety of fixed deposit options with competitive interest rates. These FDs provide higher returns than regular savings accounts and are available with flexible tenures, making them a popular investment choice for both retail and senior citizen customers.

ICICI Bank FD Rates 2025 (Deposits Less Than ₹3 Crores)

Note: The data is as of July 14, 2025 

ICICI Bank FD Interest Rates (Deposits ₹3 Crore to ₹5 Crore)

 Note: The data is as of July 14, 2025

Features and Benefits of ICICI Bank Fixed Deposit  

• Offers fixed and assured returns, unaffected by market fluctuations
• Flexible tenure options ranging from 7 days to 10 years
• Premature and partial withdrawal facility available during emergencies
• Senior citizens earn an additional 0.50% interest on deposits
• Overdraft facility of up to 90% of the deposit plus accrued interest
• Automatic renewal option ensures continued investment without interest loss
• Loan facility available up to 90% of the FD amount
• Interest is paid on maturity, making it ideal for goal-based savings
• Nomination facility is available for added convenience.

Types of ICICI Bank FD Schemes

Monthly Payout FD

• A reliable investment option that offers stability, easy access to funds, and fixed returns
• Earn a steady monthly income through regular interest payouts, can be suitable for retirees or those seeking consistent cash flow
• Returns are guaranteed, making it a low-risk investment with no link to market fluctuations
• The minimum deposit amount to open this FD is ₹10,000
• Tenure options are flexible, ranging from 3 months up to 10 years
• Offers the convenience of premature or partial withdrawal in case of financial emergencies

Standalone Fixed Deposit - Without Savings Account

• Open a Fixed Deposit anytime without the need for a savings account—simple and convenient
• Start investing with just ₹10,000 for a minimum tenure of 6 months and earn attractive returns
• Instant digital KYC makes the account opening process quick and hassle-free
• Enjoy the flexibility of premature withdrawal if you need funds before maturity

Regular Fixed Deposit

• A dependable savings option offering guaranteed returns, flexible tenure, and easy access to funds
• Interest is compounded quarterly, helping your money grow steadily over time
• Start your investment with a minimum of ₹10,000 and choose a tenure from 7 days up to 10 years
• Open instantly via iMobile Pay, Internet Banking, ATM, or by visiting any ICICI Bank branch, with overdraft and premature withdrawal options available

Tax Saver Fixed Deposit

• Enjoy assured returns along with tax benefits under Section 80C for investments up to ₹1.5 lakh
• Start with just ₹10,000 and lock in your investment for a fixed tenure of 5 years
• Choose how you receive interest—monthly, quarterly, or by reinvesting it into the principal
• Premature withdrawal and auto-renewal are not allowed, but the interest earned is fully tax-free

Money Multiplier Fixed Deposit

• Combines the flexibility of a savings account with the higher returns of a fixed deposit
• Open with just ₹5,000 for a minimum tenure of 1 year and enjoy enhanced earnings
• Automatic reverse-sweep activates when your savings balance drops below ₹10,000, ensuring instant liquidity
• Linked FDs are withdrawn on a Last-In, First-Out (LIFO) basis to meet shortfalls efficiently

Term-wise ICICI Bank Fixed Deposit Rates

Short-Term Fixed Deposits

These FDs range between 7 days to less than a year, offering interest rates from 2.75% to 6.25% for regular customers and 3.25% to 6.75% for senior citizens. This type of FD can be suitable for short-term savings and quick liquidity.

Medium-Term Fixed Deposits

These FDs range from 1 year to 5 years, with interest rates between 6.25% to 6.60% for regular customers and 6.75% to 7.15% for senior citizens. This can be a suitable option for planned expenses over the medium term.

Long-Term Fixed Deposits

These FDs range from 5 years to 10 years, offering 6.60% for regular customers and up to 7.15% for senior citizens. This can be suitable for long-term wealth creation with stable and assured returns.

How to Invest in an ICICI Bank Fixed Deposit?

Via Internet Banking

• Log in to ICICI Bank Internet Banking using your User ID and password
• Select the option ‘Open Fixed Deposit’
• Enter the required personal and nominee details
• Submit the form to open your FD account instantly

Using ICICI Bank Mobile App

• Download and log in to the ICICI Bank App
• Tap on the ‘Open Fixed Deposit’ option from the menu
• Fill in all necessary details, including nominee information
• Submit the form to complete the FD opening process

Through Offline Mode (Bank Branch)

• Visit the nearest ICICI Bank branch
• Collect and fill out the Fixed Deposit application form
• Submit the form along with required documents and the deposit amount
• Once processed, the bank will issue a receipt confirming your FD investment

Eligibility for Opening an ICICI Bank FD Account

ICICI Bank allows various individuals and entities to open a fixed deposit account, provided they meet the eligibility norms. The following categories are eligible:

• Indian residents, HUFs, sole proprietors, partnerships, companies, trusts, NRIs, and minors (through guardians) can open an FD
• PAN is mandatory for deposits above ₹50,000
• The linked Savings Account must be KYC compliant
• Minors can invest in FDs under the supervision of a guardian

Documents Required to Open ICICI Bank FD Account

Proof of Identity (any one of the following)

• PAN Card
• Voter ID
• Valid Passport
• Driving Licence
• Photo Ration Card
• Government-issued ID
• Senior Citizen ID (if applicable)

Proof of Address (any one of the following)

• Electricity Bill
• Telephone Bill
• Recent Bank Statement with Cheque
• ID or Certificate issued by the Post Office

Additional Notes

• Originals must be shown for verification along with self-attested photocopies
• The bank may request extra documents if required for further verification

Tax on ICICI Bank Fixed Deposit

ICICI Bank offers a Tax Saver Fixed Deposit that provides tax benefits under Section 80C of the Income Tax Act. Investors can claim deductions of up to ₹1.5 lakh per financial year by investing in this 5-year lock-in FD. The investment can begin from ₹10,000, and interest can be received monthly, quarterly, or through reinvestment. However, this FD does not allow premature withdrawal or auto-renewal.

For all other ICICI Fixed Deposits, no tax benefit is available under Section 80C. The interest earned on these FDs is taxable as per the investor’s income tax slab. Additionally, a TDS of 10% is deducted if the total interest exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). If PAN details are not provided, the TDS is deducted at 20%. To avoid TDS, eligible depositors can submit Form 15G or 15H, depending on their age and income, at the start of each financial year.

Premature Closure of ICICI Bank Fixed Deposit

ICICI Bank allows premature closure of all fixed deposits, except tax-saving FDs. In case of early withdrawal, a penalty of 0.5% to 1% on the applicable interest rate may apply, based on the bank’s terms and conditions. For partial or full closures, interest is paid at the rate applicable for the actual deposit period, minus the penalty.

Once a premature closure request is made, it cannot be cancelled. The maturity amount is credited to the selected savings account. Linked or Money Multiplier FDs cannot be closed online and require a branch visit or customer care call. For FDs in the name of a deceased person, the closure must be processed at the nearest ICICI Bank branch.