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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.

Open FD Life

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In case of Partial/Premature withdrawal of deposit, the free life cover offered to customers will be withdrawn from the date of partial/premature withdrawal.