FAQs

What is the minimum deposit amount required for opening a FD account?
What is the multiple in which I can open a FD account?
What is the range of tenure for which I can open a FD account?
What are the Interest rates offered by ICICI Bank on FDs?
At what frequency will I receive interest on my FD?
Is TDS applicable on FDs?
How do I approach ICICI Bank to open a FD?
Will I get a FD receipt?
What are the multiples in which I can withdraw money from my FD?
Do Senior citizens get any extra benefit on the FDs?
Can I redeem my FD before the original term?
Can I obtain a loan from ICICI Bank on the security of my FD?
Is there any auto renewal facility available on FDs?
How do I redeem my FD?
What are nomination facilities available on FDs?
What is reinvestment or cumulative FD?
Whether all deposit holder need to sign while opening and closing deposits ?

What is the minimum deposit amount required for opening a FD account?
The minimum amount required for opening a FD account is Rs.10,000

What is the multiple in which I can open a FD account?
The minimum amount required for opening a fixed deposit account is Rs.10,000. For amounts more than Rs.10,000, there is no fixed multiple.

What is the range of tenure for which I can open a FD account?
You can deposit money for as short a period as 7 days and upto 10 years.

At what frequency will I receive interest on my FD?
For the Traditional scheme, the interest on the Fixed Deposit (FD) account is credited to the Savings account specified by you on a monthly basis or on a quarterly basis.For the Reinvestment scheme, the interest is compounded to the principal amount on a quarterly basis.

Is TDS applicable on FDs?
Tax is deducted at source, from the interest on Fixed Deposits, as applicable, as per the Income Tax Act, 1961.

How do I approach ICICI Bank to open a FD?
Existing customers of ICICI Bank Savings Account may book a FD by visiting the nearest ICICI Bank Branch , logging into www.icicibank.com or by calling customer care numbers

New customers may also place a request by visiting the nearest ICICI Bank Branch or www.icicibank.com

Will I get a FD receipt?
Yes, if you request for your FD receipt, we will dispatch it to you by courier at the address given by you at the time of opening the Fixed Deposit Account.

What are the multiples in which I can withdraw money from my FD?
You can withdraw money from your Fixed Deposit Account in multiples of Rs 1,000

Do Senior citizens get any extra benefit on the FDs?
Yes, they do get extra benefits in the form of higher interest rates. Please click here for Interest rates.

Can I redeem my FD before the original term?
Yes, FD can be closed before the original term of the FD. In the event of the Fixed Deposit being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with the Bank. In case of premature withdrawal the deposit may be subject to penal rate of interest as prescribed by the Bank on the date of deposit.

Can I obtain a loan from ICICI Bank on the security of my FD?
Yes, Loan facility is available up -to 90% of principal and accrued interest. You can approach us in any of the following ways:

Call us at our 24 hour Customer Care Centre
You can just walk into any of our branches.

Is there any auto renewal facility available on FDs?
Yes, you can opt for auto renewal at the time of opening the FD or anytime before the FD matures. Auto renewal allows your FD to get renewed automatically for the same period as the original deposit. However under auto renewal option the fixed deposit receipt is with the custody of the Bank and Memorandum of Deposit (MOD) is issued in lieu of fixed deposit receipt.

How do I redeem my FD?
After maturity of your FD, you can walk into any ICICI Bank branch across the country and claim your deposit by furnishing your Fixed Deposit receipt/Memorandum of Deposit.

What are nomination facilities available on FDs?
The facility of Nomination is available for relationships in the names of individuals.

What is reinvestment or cumulative FD?
In reinvestment or cumulative FD, interest is compounded quarterly and reinvested with principal amount. Maturity of these fixed deposits ranges from 6 months to 10 years.

Whether all deposit holder need to sign while opening and closing deposits?
Fixed/term deposits opened with Either or Survivor - Unless otherwise specified in the Account Opening Form at the time of account opening -

The signatures of all the depositors is required for opening of deposit.
The signatures of all the depositors is not required for repayment of the amount of the deposits on maturity.
The signatures of all the depositors is required, in case the deposit is closed before maturity i.e. premature withdrawal.
In case one of the depositors expires before the maturity, no pre payment of term deposit may be allowed without the concurrence of the legal heirs of the deceased holders. This however, would not stay in the way of making payment to the survivor on maturity.

Fixed/term deposits opened with Former or Survivor - Unless otherwise specified in the Account Opening Form at the time of account opening -

The signatures of all the depositors is required for opening of deposit.
Former alone can operate/withdraw the matured amount of the fixed/term deposit, when both the depositors are alive.
The signatures of all the depositors is required, in case the deposit is closed before maturity i.e. premature withdrawal.
If the Former expires before the maturity of the fixed/term deposit, the Survivor can withdraw the deposit on maturity.
Premature withdrawal would require the consent of all the parties, when both of them are alive, and that of the surviving depositors and the legal heirs of the deceased in case of death of one of the depositors.