| Deposits-Fixed Deposits-FAQs |
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 15 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.
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? Call us at our 24 hour Customer Care Centre You can just walk into any of our branches.
Please note that you will not be issued a receipt for FD opened through Internet Banking.
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 uo -to 90% of principal and accrued interest. You can
approach us in any of the following ways
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.
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. Unless otherwise specifically given in writing by depositors, nomination in deposit accounts will be at Customer ID level.
Following are the features of the cumulative (re-investment) facility:
Nomination:
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