Want us to help you with anything?
Request a Call back

This field is required Only alphabetes are allowed
This field is required Only alphabetes are allowed
Please enter valid number
Please enter valid email
Please select product type
Please enter valid pincode

Thank you for your request.

Your reference number is CRM

Our executive will contact you shortly


2 mins Read | 7 Months Ago

Secure Your Child's Education with Fixed Deposit for Child



In an increasingly global and incredibly competitive world, higher education is the key to a bright future. However, ensuring your child's academic dreams come true requires thoughtful financial planning. The rising cost of professional and international college courses, often reaching the range of crores, poses a significant challenge for parents aspiring to provide the best for their children. In this scenario, Fixed Deposits (FDs) for children emerge as a reliable and strategic tool.

Understanding the Financial Landscape for Your Child's Education

Sending a child to pursue higher education abroad, particularly in countries like USA or UK, is a substantial financial commitment. The costs associated with tuition, accommodation and other living expenses can easily escalate to several crores. Parents need to plan meticulously to ensure they are financially equipped when the time comes for their child to embark on the academic journey.

The Power of FDs: A Steady Investment for Future Dreams

Fixed Deposits are a time-tested and secure investment option, providing an assured and attractive return on investment over a predetermined period. ICICI Bank, with its reputation and commitment to financial stability, offers attractive interest rates, reaching up to 7.1% (for general citizens) to 7.65% (for senior citizens) p.a. as of November, 2023.

By strategically allocating funds to FDs, investors can create a financial cushion that aligns with their child's educational aspirations. Whether the goal is to fund a domestic professional course or an international degree, the disciplined approach of FDs allows for systematic wealth accumulation.

How it works?

This is an illustration of how a strategic investment in ICICI Bank's FD can potentially grow your initial investment significantly over a specified period, considering the interest rates as of November, 2023*.

For example, at the birth of their child a parent opens an FD of Rs 20 lakh for higher education. Given the following parameters, here’s an estimate of the total amount the parent will get for a tenure of 10 years:

  • Initial investment: Rs 20 lakh
  • FD interest rate: 6.9% p.a.
  • Total amount after 10 years: Rs 39,64,039

Now, let’s say if the parent re-invests the amount again for 10 more years, then here is the estimated return:

  • Initial investment: Rs 39,64,039
  • FD interest rate: 6.9% p.a.
  • Total amount after 10 years: Rs 78,56,803

This simplified example demonstrates the power of compounding with ICICI Bank's competitive interest rates. Over the course of 10 years and an additional 10 years (20 years in total), your initial investment of Rs 20 lakh grows significantly, reaching close to Rs 80 lakh which can be used for your child’s higher education. While this is a hypothetical scenario, actual results may vary based on the changing interest rates and other economic factors.

It's important to note that the power of compounding becomes more evident over longer tenures. This example emphasises the potential growth of your investment with the assurance and stability offered by ICICI Bank's FDs.

How to open an FD Account online?

  • To open an FD Account via ICICI Bank Internet Banking, follow these steps:
  • Log in: Access your ICICI Bank Internet Banking Account with your credentials.
  • Navigate to Bank Accounts: Locate and click on the 'Bank Accounts' section.
  • Select Deposits: Under this section, find and choose the 'Deposits' option.
  • Initiate FD Creation: Click on 'Create FD' to start the process.
  • Choose FD Type: Select the type of FD that suits your financial goals.
  • Enter Investment Amount: Specify the amount you wish to invest in the FD.
  • Set Tenure and Interest Payout: Choose the duration of the FD and how you want the interest to be paid out.
  • Confirm FD Creation: Finalise the process by clicking on 'Create FD'.

FDs vs Other Investments 

In a world full of investment options, FDs stand out because of their stability and reliability. Unlike some more volatile counterparts, such as stocks or Mutual Funds (MFs), FDs offer a secure avenue for preserving and growing wealth. The primary distinction lies in the assurance of a fixed interest rate throughout the deposit tenure, providing a predictable and steady income stream. This contrasts sharply with the market-driven investments, which are susceptible to fluctuations that may lead to uncertainties in returns.

Furthermore, FDs are immune to market risks, making them an ideal choice for risk-averse investors seeking a stable financial foundation. The absence of market dependency shields FDs from the erratic nature of economic downturns, ensuring that the principal amount remains secure. This reliability becomes particularly crucial when funds are for significant life events, such as a child's education, where consistent growth and preservation of capital are paramount. In essence, FDs emerge as a resilient and dependable option in the investment landscape, promising a steadfast path to financial goals without the tumultuous highs and lows often associated with other investment avenues.

A Versatile Solution Beyond Education

While the primary focus of an FD is to help you save for specific wishes, like your child's higher education, their flexibility extends to other financial goals. Whether it is planning for a dream vacation, purchasing a home, or creating an emergency fund, you can use the money from these investments to meet an array of diverse financial needs.

Empowering Education with FDs for Children

In the pursuit of providing the best education for your child, the combined strength of FDs with attractive interest rates offers a concrete financial strategy. The reliability of ICICI Bank and competitive interest rates, ensure that your child's dreams are not just aspirations but tangible goals backed by financial preparedness. As the world evolves, let your child's educational journey be a testament to strategic financial planning, supported by the unwavering strength of ICICI Bank's FDs.




People who read this also read

View All


View All
2 mins Read | 1 Month Ago
How to use ICICI Bank FD Calculator to plan FD investment returns
Fixed Deposits

Scroll to top