ICICI Bank is one of the largest private sector banks in India and offers a range of fixed deposit options for its customers. ICICI Bank fixed deposits are a safe and secure investment option for those looking for a low-risk investment with fixed returns.
The bank offers fixed deposit tenures ranging from 7 days to 10 years. The interest rate offered on these deposits varies depending on the tenure and the amount of the deposit. The interest rates are generally higher for longer tenures and higher deposit amounts.
ICICI Bank also offers the option of a tax-saver fixed deposit, which allows customers to save on taxes under Section 80C of the Income Tax Act. This type of fixed deposit has a lock-in period of 5 years and offers tax benefits on the principal amount invested, up to a maximum of Rs. 1.5 lakhs per year.
To open a fixed deposit account with ICICI Bank, you can visit any ICICI Bank branch or open an account online through the bank's website or mobile app. You will need to provide your personal and KYC (know your customer) details to complete the account opening process.
Full form of ICICI
The full form of ICICI is Industrial Credit and Investment Corporation of India. ICICI Bank was initially established as a wholly-owned subsidiary of ICICI in 1994 and later became a separate entity in 1998 after the merger of ICICI Limited with ICICI Bank Limited. Today, ICICI Bank is one of the largest private sector banks in India, offering a wide range of banking and financial products and services to its customers.
It is important to note that fixed deposits are a low-risk investment option, but the returns may not be as high as other investment options such as mutual funds or stocks. It is always advisable to consider your investment goals and risk appetite before investing in any financial product.
ICICI Extended FD schemes @ 7.5% Interest Rate
Leading private bank, ICICI Bank has extended a special FD scheme for senior citizens called "ICICI Bank Golden Years FD". The bank has taken a decided to extend this special Fixed Deposit scheme for 6 more months. Now according to the bank's official website, the special scheme will be available till October 31, 2023.
As per the bank's official webportal, "On ICICI Bank Golden Years Fixed Deposit, senior citizen customers get an additional interest rate of 0.10% on Fixed Deposit for a counted period and above 0.50% per year." Special interest rates are available on FDs with maturities ranging from 5 years to 10 years. Senior citizens get 7.5% interest rate under ICICI Bank Golden Years FDs for 5 years 1 day to 10 years.
It should be noted that additional rate is available on renewed deposits as well as fresh deposits opened during the scheme period. Rs. This is applicable on single FD opened by ICICI Bank for amount less than 2 crores.
In case of early withdrawal, as per ICCI Bank, if the FD is opened and the above scheme is prematurely withdrawn/closed after 5 years 1 day or thereafter, the applicable penalty rate will be 1.00%, with effect from March 14, 2023.
ICICI Bank is one of the leading banks in India and offers various types of fixed deposit (FD) schemes with competitive interest rates. Some of the popular ICICI fixed deposit schemes are:
Regular Fixed Deposit: This is a standard fixed deposit scheme offered by ICICI Bank, where the depositor can invest a lump sum amount for a fixed tenure ranging from 7 days to 10 years. The interest rate offered on the deposit depends on the tenure and the amount invested.
Tax Saver Fixed Deposit: This is a special fixed deposit scheme with a lock-in period of 5 years. The interest rate offered on this deposit is usually higher than the regular fixed deposit, and the depositor can claim tax benefits under Section 80C of the Income Tax Act.
Flexi Fixed Deposit: This is a unique fixed deposit scheme that offers the flexibility to withdraw funds from the deposit account without any penalty charges. The depositor can withdraw a certain amount from the deposit account, while the remaining amount continues to earn interest.
i Wish Flexible Recurring Deposit: This is a flexible recurring deposit scheme, where the depositor can save a fixed amount every month, which is then invested in a fixed deposit account. The depositor can choose the tenure and the amount of monthly savings, and the interest rate offered on this deposit is similar to the regular fixed deposit.
ICICI Bank offers attractive interest rates on its fixed deposit schemes, and the interest rates are subject to change from time to time. It is advisable to check the latest interest rates and other terms and conditions before investing in any ICICI Bank fixed deposit scheme.
ICICI CREDIT CARDS
ICICI Bank offers a wide range of credit cards to suit the needs of different types of customers. Here are some of the popular ICICI credit cards:
1. ICICI Bank Coral Credit Card: This card is suitable for customers who love to dine out and shop. The card offers reward points on dining, groceries, and movie ticket purchases, and also provides discounts on dining and movie tickets.
2. ICICI Bank Amazon Pay Credit Card: This card is ideal for customers who shop frequently on Amazon. The card offers cashback on Amazon purchases, as well as on other categories such as fuel, dining, and bill payments.
3. ICICI Bank Platinum Credit Card: This card is suitable for customers who are looking for a basic credit card with low annual fees. The card offers reward points on all transactions and also provides discounts on dining, shopping, and movie tickets.
4. ICICI Bank Sapphiro Credit Card: This card is designed for high net-worth individuals and offers premium benefits such as complimentary airport lounge access, concierge services, and golf privileges. The card also provides reward points on all transactions and offers discounts on dining, shopping, and movie tickets.
5. ICICI Bank HPCL Coral Credit Card: This card is ideal for customers who frequently refuel their vehicles at HPCL petrol pumps. The card offers cashback on fuel purchases at HPCL petrol pumps, as well as reward points on other transactions.
ICICI Bank credit cards come with various features and benefits such as reward points, cashback, discounts, and exclusive privileges. The eligibility criteria, fees, and other terms and conditions for each card may vary. It is advisable to check the latest information and compare the different cards before choosing the one that suits your needs.
