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Deposits > Tax Saver Fixed Deposit:Lock-in Period of 5 years

  1. A Valid PAN is mandatory for opening a Tax Saver Fixed Deposit (Tax Saver FD). In case your PAN is not updated in our records, please visit any ICICI Bank branch with a copy of your PAN card. Click here to locate your nearest branch.
  2. Tax Saver FD Account will be created in 1 working day.
  3. Only Individuals and HUFs are eligible to open a Tax Saver FD.
  4. Tax Saver FD can be opened for a minimum of Rs.10,000 and thereafter in multiples of Rs.100, up to a maximum of Rs. 1,50,000.
  5. The maximum aggregate amount that can be invested in the Tax Saver FD (80C FD) under a single PAN is 1,50,000 i.e. the aggregate deposits cannot exceed more than 1,50,000 under the single PAN.
  6. To register a nominee for your Fixed Deposit, please visit any branch and submit the nomination request form available with the branch.
  7. Tax Saver FD will be created subject to sufficient availability of funds in your account both on the date of placing this request as well as on the date of processing it.
  8. The amount for Tax Saver FD will be debited to the Savings Account selected above.
  9. Premature withdrawal is not permitted in Tax Saver FD. The deposit cannot be auto renewed. On maturity, the deposit will be credited to your Savings Account.
  10. Tax saver FD is opened for a fixed tenure of 5 years only and can be of the following Deposit types:

    • Cumulative Deposit
    • Traditional (Non-Cumulative)

      • Monthly Interest Payout
      • Quarterly Interest Payout
  11. For Cumulative FD, interest will be compounded and credited on maturity to the Savings Account selected above.
  12. For Traditional (Non-Cumulative) FD, interest will be credited monthly/quarterly to the Savings Account selected above.
  13. In case you are not liable for TDS, please submit 3 self-attested copies of Form 15G / 15H (for Senior Citizens) at your nearest ICICI Bank branch. You can now download Form 15G/ 15H under 'Bank Accounts' after login using your user id and password
  14. You can check the new FD(s) created under "Account Summary".
  15. Fixed Deposit Advice will be updated after one working day from the Fixed Deposit creation date.
  16. No loans or liens against Tax Saver will be permitted.
  17. Please select the account from which you want to create this Fixed Deposit.
  18. This request will not be processed if, your account is dormant/inactive.
  19. This request will not be processed if, your account has zero or negative balance.
  20. If you have provided your mobile number or email, we will inform you about the closure of your request by SMS or email respectively. Providing the mobile number or email here will not result in an update of your mobile number or email as recorded with us.
  21. ICICI Bank does not take any responsibility, and will also not be liable, for your claims, if the details provided by you are incorrect/incomplete.