Interest Rates

Savings Account Interest Rate


Domestic and Non Resident (NRE/NRO) Savings Bank Account

How is Savings Account Interest Rates Calculated?

 

Savings Bank Account interest is calculated on a daily basis on the daily closing balance in the Account, at the rate specified by ICICI Bank in accordance with Reserve Bank of India directives. The interest amount calculated is rounded off to the nearest rupee. With effect from March 30, 2016, interest will be paid quarterly in March, June, September and December.

 

With effect from 4th June 2020, the savings account interest rate applicable would be:

 

3.00% for end of day account balance of below ₹50 Lacs

 

3.50% for end of day account balance of ₹ 50 Lacs & above.

 

Fixed Deposits (with premature withdrawal facility)


 

Interest rates on Domestic, NRO & NRE deposits(Less than ₹ 5 crore)

 

Maturity PeriodInterest rates (per cent per annum) w.e.f. September 07, 2020Interest rates (per cent per annum) w.e.f. September 02, 2020
Single deposit of less than ₹ 20.0 millionSingle deposit of ₹ 20.0 mn & above but less than 50.0 mn
General**Senior CitizenGeneral**Senior Citizen
7 days to 14 days 2.50% 3.00% 2.50% 2.50%
15 days to 29 days 2.50% 3.00% 2.50% 2.50%
30 days to 45 days 3.00% 3.50% 2.75% 2.75%
46 days to 60 days 3.00% 3.50% 2.75% 2.75%
61 days to 90 days 3.00% 3.50% 3.00% 3.00%
91 days to 120 days 3.50% 4.00% 3.00% 3.00%
121 days to 184 days 3.50% 4.00% 3.00% 3.00%
185 days to 210 days 4.40% 4.90% 3.50% 3.50%
211 days to 270 days 4.40% 4.90% 3.50% 3.50%
271 days to 289 days 4.40% 4.90% 3.65% 3.65%
290 days to less than 1 year 4.40% 4.90% 3.65% 3.65%
1 year to 389 days 5.00% 5.50% 3.75% 3.75%
390 days to < 18 months 5.00% 5.50% 3.75% 3.75%
18 months to 2 years 5.10% 5.60% 3.75% 3.75%
2 years 1 day to 3 years 5.15% 5.65% 4.25% 4.25%
3 years 1 day to 5 years 5.35% 5.85% 4.25% 4.25%
5 years 1 day to 10 years 5.50% 6.30% 4.25% 4.25%
5 Years (80C FD) – Max to ₹ 1.50 lac 5.35% 5.85% NA NA

 

*NRE rates applicable for tenure of 1 year and above only.

**Senior Citizen rates applicable only for domestic term deposits.

 

Note

  • As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD.
  • Interest earned on the Fixed Deposit will be subject to Tax Deducted at Source as per Income Tax laws.
  • Minimum tenure for Domestic & NRO term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit.
  • Minimum tenure for NRE term deposits is 1 year and no interest is payable for deposits prematurely withdrawn within the period of 1 year from the date of deposit.
  • These revised interest rates will be applicable for new deposits and renewal of existing term deposits.
  • *Senior Citizen rates applicable only for domestic term deposit.
  • The maximum aggregate amount that can be invested in the Tax Saver FD (80C FD) under a single PAN is ₹150,000 and the same cannot be closed prematurely before expiry of the lock-in period of 5 years.
  • ICICI bank staff (including retired staff) will get additional 1% rate of interest on domestic deposit below ₹ 2 Cr.

 

# ICICI Bank Golden Years FD  (w.e.f 20th May’20) :

Now get an exclusive additional interest rate of 0.30% per annum on your Fixed Deposits above 5 years tenure

  • Resident Senior citizen customers, will get an additional interest rate of 0.30% for limited time over and above existing additional rate of 0.50% per annum
  • The additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.
  • Eligible FD tenure: 5 years 1 day up to 10 years
  • Applicable duration: 20th May, 2020 to 30th September, 2020
  • Applicable on single FD of amount < 2cr
  • Premature withdrawal: In case deposit opened in above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the applicable penal rate will be 1.30%. In case the deposit opened in above scheme is prematurely withdrawn/closed before 5 years 1 day, the prevailing premature withdrawal policy will be applicable.
  • All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.

 

INTEREST RATES ON DOMESTIC, NRO & NRE DEPOSITS with premature withdrawal facility ( ₹ 5 cr and above )  

 

Single Deposit
Tenure Period
Rate of Interest (% p.a.) w.e.f September 02, 2020
₹ 5.00 crore to < ₹ 5.10 crore₹ 5.10 crore to < ₹ 24.90 crore₹ 24.90 crore to < ₹ 25.00 crore₹ 25.00 crore to < ₹ 100.00 crore₹ 100.00 crore to < ₹ 250.00 crore₹ 250.00 crore to < ₹ 500.00 crore> = ₹ 500.00 crore
7 days to 14 days 2.50 2.50 2.50 2.50 2.50 2.50 2.50
15 days to 29 days 2.50 2.50 2.50 2.50 2.50 2.50 2.50
30 days to 45 days 2.50 2.75 2.50 2.75 2.75 2.75 2.75
46 days to 60 days 2.50 2.75 2.50 2.75 2.75 2.75 2.75
61 days to 90 days 2.60 3.00 2.60 3.00 3.00 3.00 3.00
91 days to 120 days 2.60 3.00 2.60 3.00 3.00 3.00 3.00
121 days to 150 days 2.60 3.00 2.60 3.00 3.00 3.00 3.00
151 days to 184 days 2.60 3.00 2.60 3.00 3.00 3.00 3.00
185 days to 210 days 2.75 3.50 2.75 3.50 3.50 3.50 3.50
211 days to 240 days 2.75 3.50 2.75 3.50 3.50 3.50 3.50
241 days to 270 days 2.75 3.50 2.75 3.50 3.50 3.50 3.50
271 days to 300 days 2.75 3.65 2.75 3.65 3.65 3.65 3.65
301 days to 330 days 2.75 3.65 2.75 3.65 3.65 3.65 3.65
331 days to < 1 year 2.75 3.65 2.75 3.65 3.65 3.65 3.65
1 year to 389 days 3.00 3.75 3.00 3.75 3.75 3.75 3.75
390 days to < 15 months 3.00 3.75 3.00 3.75 3.75 3.75 3.75
15 months to < 18 months 3.00 3.75 3.00 3.75 3.75 3.75 3.75
18 months to 2 years 3.00 3.75 3.00 3.75 3.75 3.75 3.75
2 years 1 day to 3 years 3.00 4.25 3.00 4.25 4.25 4.25 4.25
3 years 1 day to 5 years 3.00 4.25 3.00 4.25 4.25 4.25 4.25
5 years 1 day to 10 years 3.00 4.25 3.00 4.25 4.25 4.25 4.25

 

Note:

        • As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD.
        • Interest earned on the Fixed Deposit will be subject to Tax Deducted at Source as per Income Tax laws.
        • Minimum tenure for Domestic & NRO term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit.
        • Minimum tenure for NRE term deposits is 1 year and no interest is payable for deposits prematurely withdrawn within the period of 1 year from the date of deposit.
        • These revised interest rates will be applicable for new deposits and renewal of existing term deposits.
        • For terms & conditions and any other details, please contact your nearest ICICI Bank Branch.

 

Premature withdrawal of deposit:

 

On pre-mature withdrawal of the DOMESTIC, NRO & NRE deposits:

        • interest will be calculated at the rate applicable for the period for which the deposit was held with the Bank or contracted rate of the deposit whichever is lower, plus applicable penalty as below:
        • Penalty will be levied on the rate applicable as per the table below
Original Tenure of DepositPenal Rates*
Less than ₹ 5.0 crore₹ 5.0 crore & above
Less than 1 year 0.50% 0.50%
1 year & above but less than 5 years 1.00% 1.00%
5 years and above 1.00% 1.50%

 

*Subject to revision without further notice.

 

 

Fixed Deposits (without premature withdrawal facility)


 

INTEREST RATES ON DOMESTIC, NRO & NRE DEPOSITS without premature withdrawal facility ( ₹ 2 cr and above ). These fixed deposits do not have premature withdrawal facility, i.e., the fixed deposit cannot be closed by the depositor before expiry of the term of such deposit.

 

Single Deposit
Tenure Period
Rate of Interest (% p.a.) w.e.f  September 02, 2020
₹ 2.00 crore to <₹5.00 crore₹ 5.00 crore to <₹5.10 crore₹ 5.10 crore to <₹24.90 crore₹ 24.90 crore to <₹25.00 crore₹ 25.00 crore to <₹100.00 crore₹ 100.00 crore to <₹250.00 crore₹ 250.00 crore to <₹500.00 crore> =₹500.00 crore
7 days to 14 days 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50
15 days to 29 days 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50
30 days to 45 days 2.75 2.75 2.75 2.75 2.75 2.75 2.75 2.75
46 days to 60 days 2.75 2.75 2.75 2.75 2.75 2.75 2.75 2.75
61 days to 90 days 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
91 days to 120 days 3.10 3.10 3.10 3.10 3.10 3.10 3.10 3.10
121 days to 150 days 3.10 3.10 3.10 3.10 3.10 3.10 3.10 3.10
151 days to 184 days 3.10 3.10 3.10 3.10 3.10 3.10 3.10 3.10
185 days to 210 days 3.60 3.60 3.60 3.60 3.60 3.60 3.60 3.60
211 days to 240 days 3.60 3.60 3.60 3.60 3.60 3.60 3.60 3.60
241 days to 270 days 3.60 3.60 3.60 3.60 3.60 3.60 3.60 3.60
271 days to 300 days 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75
301 days to 330 days 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75
331 days to < 1 year 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75
1 year to 389 days 3.85 3.85 3.85 3.85 3.85 3.85 3.85 3.85
390 days to < 15 months 3.85 3.85 3.85 3.85 3.85 3.85 3.85 3.85
15 months to < 18 months 3.85 3.85 3.85 3.85 3.85 3.85 3.85 3.85
18 months to 2 years 3.85 3.85 3.85 3.85 3.85 3.85 3.85 3.85
2 years 1 day to 3 years 4.35 4.35 4.35 4.35 4.35 4.35 4.35 4.35
3 years 1 day to 5 years 4.35 4.35 4.35 4.35 4.35 4.35 4.35 4.35
5 years 1 day to 10 years 4.35 4.35 4.35 4.35 4.35 4.35 4.35 4.35

 

For availing Fixed Deposit without premature closure facility, please contact your relationship manager or visit the nearest branch.

 

Specific Terms and conditions for deposits without premature withdrawal facility

  • These terms and conditions ("Terms") apply to fixed deposits without premature withdrawal facility, opened with ICICI Bank, as per the guidelines prescribed by Reserve Bank of India (RBI) in this regard from time to time ("Fixed Deposit"). These Terms shall be in addition to and not in derogation of the terms and conditions governing ICICI Bank Fixed Deposits available on www.icicibank.com ("Primary Terms"). In the event of any contradiction in the Terms and the Primary Terms, these Terms shall prevail.
  • The Fixed Deposit does not have premature withdrawal facility i.e. the Fixed Deposit cannot be closed by the depositor before expiry of the term of such deposit. However, the Bank may allow premature withdrawal of these deposits in following exceptional circumstances: in the event of any direction from any statutory and/or regulatory authority or deceased claim settlement cases.
  • In the event of premature withdrawal of these deposits under above mentioned exceptional circumstances, the Bank will not pay any interest on the principal amount of the deposit. Any interest credited or paid upto the date of such premature closure will be recovered from the deposit amount.
  • Auto renewal facility is not available for such Fixed Deposits at time of opening of the Fixed Deposit account.
  • Minimum tenure for NRE FD is 1 year and maximum tenure is 10 years.
  • Minimum tenure for traditional NRO FDs without premature withdrawal facility is 3 months and maximum tenure is 10 years
  • Minimum tenure for cumulative NRO FDs without premature withdrawal facility is 6 months and maximum tenure is 10 years
  • Interest rates and minimum deposit value are subject to change without prior notice.

 

 

Recurring / iWish Deposits


Tenure wise interest rates for Recurring Deposits:

 

Maturity PeriodRate of Interest (% p.a.) w.e.f September 07, 2020
GeneralSenior Citizen
6 months 3.50 4.00
9 months 4.40 4.90
12 months 5.00 5.50
15 months 5.00 5.50
18 months 5.10 5.60
21 months 5.10 5.60
24 months 5.10 5.60
27 months 5.15 5.65
30 months 5.15 5.65
33 months 5.15 5.65
36 months 5.15 5.65
Above 3 years upto 5 years 5.35 5.85
Above 5 years upto 10 years 5.50 6.30

 

Note:

  • Recurring Deposits will be available for a minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
  • As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD
  • For terms & conditions and any other details, please contact your nearest ICICI Bank Branch.

Penalty on Delayed Installment:

  • Penalty is charged at monthly interest at the rate of ₹ 12 per ₹ 1000 for all delayed installments.
  • Fraction of a month will be treated as full month for the purpose of calculating such interest.
  • The total interest so chargeable shall be recovered from the total amount of interest payable at the time of maturity. 

 

Tenure wise interest rates for iWish:

 

Tenure / Maturity PeriodRates of Interest# (% p.a.) w.e.f September 07, 2020
GeneralSenior Citizen
6 months 3.50 4.00
7 months - 9 months 4.40 4.90
10 months - 11 months 4.40 4.90
12 months only 5.00 5.50
13 months - 18 months 5.00 5.50
18 months - 24 months 5.10 5.60
25 months - 3 years 5.15 5.65
37 months - 5 years 5.35 5.85

 

*Subject to revision without further notice.

 

Premature withdrawal of Deposit:

 

On pre-mature withdrawal of the Recurring / iWish deposits:

  • Interest will be calculated at the rate applicable for the period the deposit has actually remained with ICICI Bank.
  • Penalty will be levied on the rate applicable as per the table below
Original Tenure of DepositPenal Rates*
Less than ₹ 5.0 crore₹ 5.0 crore & above
Less than 1 year 0.50% 0.50%
1 year & above but less than 5 years 1.00% 1.00%
5 years and above 1.00% 1.50%

 

*Subject to revision without further notice.

 

NRI Deposits


Loans and Advances


Marginal Cost of funds based Lending Rate (MCLR)


MCLR effective September 1, 2020:

 

TenuresI-MCLR
Overnight 7.15%
One month 7.15%
Three months 7.20%
Six months 7.35%
One year 7.40%
 

RBI Policy Repo Rate and ICICI Bank External Benchmark Lending Rate


RBI Policy Repo Rate effective May 22, 2020 is 4.00%.

 

"ICICI Bank External Benchmark Lending Rate" (I-EBLR) is referenced to RBI Policy Repo Rate with a mark-up over Repo Rate. I-EBLR is 7.70% p.a.p.m. effective June 09, 2020.