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Fixed Deposit
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FD Life
Get dual benefits of assured returns from Fixed Deposits (FDs) and protection of life cover. FD Life offers complimentary life cover of Rs 3 lakh for 1 year on opening Fixed Deposits of value Rs 3 lakh and above for minimum tenure of 2 years. You can open online FD Life by logging in to ICICI Bank Internet Banking today.
Terms and Conditions apply.
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- In case of Partial/Premature withdrawal of deposit, the free life cover offered to customers will be withdrawn from the date of partial/premature withdrawal.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
Frequently Asked Questions (FAQs) for FD Life
What is FD Life?
Combo product where Fixed Deposit is combined with Term Life Cover.
Free term life cover is capped at Rs 3 lakh on FDs for 1 year, irrespective of FD amount.
How to apply for FD Life deposits?
One can invest in FD Life by giving application at branch. Also, customer can invest in FD Life through Internet Banking.
What are the benefits of FD Life?
FD Life is a unique product proposition which offers free Term Life Cover valid on opening of FD.
Free Term Life cover of Rs 3 lakh is offered on FD of Rs 3 lakh and above and minimum tenure of 2 years.
What is the eligibility for FD Life?
Eligibility for FD Life:
FD should be of Rs 3 lakh and above and of minimum tenure of 2 years.
Age of customer investing in FD Life should be between 18 and 50 years.
Customer should not be hospitalised.
What is the interest rate of FD Life?
Interest rate on FD Life is the same as offered on standard FD.
How much amount can be deposited in FD life?
FD Life can be opened for Rs 3 lakh and above.
How can I invest in FD Life?
One can invest in FD Life by giving application at branch. Also, customer can invest in FD Life through ICICI Bank Internet Banking.
What is the minimum investment amount required in FD Life?
FD Life can be opened for minimum amount of Rs 3 lakh and above Open FD Life.
