5 benefits of Tax Saver Fixed Deposit
Avail tax exemptions under Section 80C of the Income Tax Act by investing in ICICI Bank Tax Saver. Here are the benefits you can avail.
Earn assured returns on your savings and meet your short-term and long-term goals with fixed deposits from ICICI Bank. With attractive interest rates and flexible investment tenures, our fixed deposits are one of the safe investment options available. Opt for a fixed deposit account with us and let your savings grow over a period ranging from seven days to a decade!
You can open a fixed deposit account with us through a number of channels like internet banking or mobile banking. If you prefer accessing our banking services in-person, simply visit the branch of ICICI Bank that is near to you to open your fixed deposit account.
To know how to create Fixed Deposit on Internet Banking through other Bank account via UPI Take a look at this video
Managing your Fixed Deposit is very easy, quick and convenient on Internet Banking. Take a look at this video to understand:
Managing your Fixed Deposit is very easy, quick and convenient on iMobile. Take a look at this video to understand:
Fulfil all your short-term goals instantly with Overdraft against your FD on iMobile Pay. You cnstantly with Overdraft against your FD on iMobile Pay. You can avail overdraft of up to 90% of your FD amount. You can also enjoy the following benefits:
Very low interest rates, No repayment charges, Convenient paperless process. Terms and conditions apply.
Invest in fixed deposits from ICICI Bank and make use of various features that help you meet your life goals. FD investors get to experience a variety of beneficial features, some of which we have explained here.
Here is a quick list to tell you why FD is the ideal investment option:
Earn interest on a monthly or quarterly basis as per your requirement with our traditional fixed deposit, which has a maturity periApply Now
Earn interest that is compounded quarterly and reinvested along with the principal amount through our reinvestment plan, which comeApply Now
Money Multiplier feature gives you the liquidity of a savings account coupled with assured returns of a fixed deposit.Apply Now
Now get an exclusive additional interest rate of 0.30% per annum on your fixed deposits above five years’ tenure. Interested in learning more about the golden years fixed deposit from ICICI Bank? Here are the other salient features of this investment option.
The Money Multiplier feature gives you the liquidity of a Savings Account coupled with high earnings of a Fixed Deposit. This is achieved by creating a Fixed Deposit linked to your Savings Account providing you the unique facilities.
The Flexi Fixed Deposit feature gives you the liquidity of a Current Account coupled with high earnings of a Fixed Deposit. This is achieved by creating a Fixed Deposit (FD) linked to your Current Account providing you the unique facilities.
Features of Flexi Fixed Deposit
Terms and Conditions apply.
Unique product which offers dual benefits of assured returns and tax savings. Tax Saver Fixed Deposits offers tax deduction up to ₹1.5 lakh under Section 80C of Income Tax Act.
*Subject to Income Tax Act, 1961 and amendments thereto.
Avail an overdraft against your fixed deposit of up to 90% of the principal and accrued interest, subject to ICICI Bank’s sole discretion. With this advantage, you can take care of your short-term emergency requirements without any hassles.
Whether you hold your fixed deposit account solely or jointly, you can select a single nominee for the proceeds from your account. You only need to fill out a form that’s prescribed under the Banking Companies Act (Nomination Rules). For more details, do visit your nearest ICICI Bank branch.
Fixed deposits of ICICI Bank also offer you a host of other benefits, such as:
Why opt for ICICI Bank’s fixed deposits?
If you are keen on knowing why you should open an FD with us, here are some excellent reasons to do so.
A fixed deposit is an investment option that allows you to earn interest on the amount invested/deposited.
When you invest in an FD, the amount you deposit is invested for the period of the investment. At the end of the FD’s tenure, you can withdraw your principal as well as the interest earned thereon. You can even choose to receive the interest earned on your deposit as period payments.
At ICICI Bank, we offer you the option of investing in a fixed deposit, which is a safe and secure instrument. Attractive rates of interest and the flexibility to withdraw funds as and when required are some of the benefits of our FDs. Other beneficial features of ICICI Bank’s fixed deposits include ease of investment and the option to avail a loan against your deposit.
The methods of calculation of interest on our fixed deposits, both traditional and cumulative, are explained below.
For cumulative deposits, the interest is compounded quarterly upon completion of the exact quarters. For the balance periods, simple interest is calculated on the cumulative amount of the deposit for the remaining number of days.
In case of premature withdrawals, interest is calculated as per the rate applicable for the tenure the deposit remained with ICICI Bank less penal rate as is prescribed by ICICI Bank from time to time.
Click here to view the rates of interest offered by ICICI Bank on fixed deposits.
You can open a fixed deposit account with us easily, through a number of channels like internet banking, iMobile or customer care. Alternatively, you can even simply visit the branch of ICICI Bank that is near to you to open a fixed deposit.
You can open a fixed deposit account with us even with a minimum deposit of ₹10,000 (applicable for general customers). To open a fixed deposit account for minors, you only need to make a minimum deposit of ₹2,000.
The minimum and maximum period for opening a fixed deposit depends on the investment plan you choose. Currently, we offer two options.
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