FD Xtra Life

Fixed Deposit with Group Term Plan (GTP) Life Cover

FD Life offers the benefits of returns and security of Fixed Deposit and the protection of a Life Cover.

Amount of deposit

  • The life cover will be available on FDs opened for a minimum value of Rs.3 lakh.

Duration of deposit

  • The life cover will be available on FDs opened within a period of minimum 2 years.

Eligibility

  • It can be opened by resident individuals i.e. FD account holder where the mode of holding is either single or joint
  • Facility of life cover with NRI FD will also be provided when the NRI customer is in India
  • The GTP Life Cover to be provided only to the primary holder of joint FD
  • The customer should be in the age group of 18 to 50 years.

Life Cover policy

  • GTP Life Cover will be valid for a period of one year
  • GTP Life Cover policy will be issued to customers after opening of FD
  • Eligible customers should provide a declaration of good health. If a customer declares s/he is not in good health, the GTP Life Cover shall not be provided

Effective date of life cover policy

  • The effective/start date of the policy will be from the FD opening date.

Rate of interest

  • The FD will earn prevailing fixed interest rates as applicable for the deposit period for which the deposit was opened.

Tax treatment

  • Interest earned on the deposit will be subject to Tax Deducted at Source (TDS).

Partial/Premature withdrawal

  • Partial/Premature withdrawal will be permitted as per the Terms & Conditions agreed to
  • In case of Partial/Premature withdrawal of deposit, the free life cover offered to customers will be withdrawn from the date of partial/premature withdrawal.

Life cover claim and query handling process

In case you require any further information on life cover claim, you may write to us at grouplife@iciciprulife.com

For Fixed Deposit T&C click here

For Fixed Deposit GTP Life T&C click here