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Fixed Deposit Terms and Conditions
Mentioned below are some important Terms and Conditions to create a Fixed Deposit. Click here to know about them in detail.
An FD Account can be created within 1 working day.
Fixed Deposit (FD) of ₹ 50,000 or more will require a valid PAN number. As per Income Tax Guidelines, an FD request would not be accepted if your PAN is not updated in our records. Please visit any ICICI Bank branch with a copy of your PAN Card. Click here to locate your nearest branch.
An FD can be opened for a minimum amount of ₹ 10,000 and thereafter in multiples of ₹ 1.
- A request to open an FD will not be processed if:
- Your account is dormant/inactive
- Your account has insufficient balance for opening a Fixed Deposit
- You are a Senior Citizen and your Date of Birth has not been updated in your account.
An FD will be created subject to sufficient availability of funds in your account, both on the date of placing this request, as well as on the date of processing this request.
Nomination as in the Savings Account will be replicated for the FD. The same can be updated through Internet Banking in the 'Manage your Fixed Deposit’ section or you can visit any ICICI Bank branch.
A Fixed Deposit cannot be closed online where the physical FD receipt has been issued through the branch.
Tenure in Standard Deposit:
- Cumulative Deposit: Minimum - 6 months, Maximum -10 years.
- Traditional (Non-Cumulative) Deposit:
- Periodic Interest (On Maturity): Minimum - 7 days, Maximum - 91 days.
- Monthly Interest Payout: Minimum - 3 months, Maximum - 10 years.
- Quarterly Interest Payout: Minimum - 6 months, Maximum - 10 years.
A physical request form signed by all the Fixed Deposit Holders is mandatory for premature or partial closure for Joint Fixed Deposits. The Joint Fixed Deposit cannot be closed online. To download the Joint Declaration Form, click here .
For Traditional (Non-Cumulative) FDs, interest will be credited monthly/quarterly to the Savings Account selected above.
For Cumulative FDs, interest will be compounded and credited yearly/on maturity to the Savings Account selected above. For interest rates, please click here .
In case you are not liable for TDS, please submit 3 self-attested copies of Form 15G/15H (for Senior Citizens) at any ICICI Bank branch. You can fill Form 15G/15H under 'Bank Accounts' after logging in to RIB, with your User ID and password. Please download the acknowledgement form displayed on the Form 15G/H success screen.
Form 15G/H needs to be filled for all the existing FDs at the beginning of each financial year. For any new FD created during the year, a separate Form 15G/H needs to be filled to exempt the FD from TDS deductions.
You can check the new FD(s) created under ‘Account Summary’:
- Your FD Advice will be sent to your registered email-ID within 1 working day. You can access the FD Advice in the following way:
If you have provided your mobile number or e-mail, we will inform you about the closure of your request by SMS or e-mail, respectively. Providing the mobile number or e-mail here will not result in an update of your mobile number or e-mail as recorded with us.
ICICI Bank does not take any responsibility and will also be not liable for your claims, if the details provided by you are incorrect/incomplete.
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