ICICI Bank, headquartered in Vadodara, Gujarat, offers a wide range of banking products and services for retail and corporate customers. Initially known as Industrial Credit and Investment Corporation of India, it later adopted the abbreviation ‘ICICI’.
The ICICI Bank provides various fixed deposit options with competitive interest rates. Depositors need to deposit the money once at the time of opening the account, and additional deposits are not allowed thereafter.
ICICI Bank offers higher interest rates on fixed deposit schemes compared to savings deposits.
ICICI Bank Fixed Deposit Interest Rate (Below Rs 2 crore, w.e.f. 17th February 2024)
| Tenure | General Public | Senior Citizen |
| 7 days to 14 days | 3% | 3.50% |
| 15 days to 29 days | 3% | 3.50% |
| 30 days to 45 days | 3.50% | 4% |
| 46 days to 60 days | 4.25% | 4.75% |
| 61 days to 90 days | 4.50% | 5% |
| 91 days to 120 days | 4.75% | 5.25% |
| 121 days to 150 days | 4.75% | 5.25% |
| 151 days to 184 days | 4.75% | 5.25% |
| 185 days to 210 days | 5.75% | 6.25% |
| 211 days to 270 days | 5.75% | 6.25% |
| 271 days to 289 days | 6% | 6.50% |
| 290 days to less than 1 year | 6% | 6.50% |
| 1 year to 389 days | 6.70% | 7.20% |
| 390 days to<15 months | 6.70% | 7.20% |
| 15 months to<18 months | 7.20% | 7.75% |
| 18 months to 2 years | 7.20% | 7.75% |
| 2 years 1 day to 3 years | 7% | 7.50% |
| 3 years 1 day to 5 years | 7% | 7.50% |
| 5 years 1 day to 10 years | 6.90% | 7.50% |
| 5 years (80C FD)- Max to 1.50 lakh | 7% | 7.50% |
Senior Citizens will receive an additional interest rate of 5 basis points (bps) above the existing 50 bps on FDs (less than Rs 2 crore) for tenures ranging from 15 months to less than 18 months and 18 months to less than 2 years.
Senior Citizens will receive an additional interest rate of 10 bps above the existing 50 bps on FDs (less than ₹2 crore) for tenures of 5 years and above.
Also Read: HDFC Bank Fixed Deposit Interest Rate 2024: What HDFC Bank Offers on FDs
ICICI Bank Fixed Deposit Interest Rate (above Rs. 2 crore but less than 5 crore, w.e.f. 17th February 2024)
| Tenure | General Public | Senior Citizen |
| 7 days to 14 days | 4.75% | 4.75% |
| 15 days to 29 days | 4.75% | 4.75% |
| 30 days to 45 days | 5.50% | 5.50% |
| 46 days to 60 days | 5.75% | 5.75% |
| 61 days to 90 days | 6% | 6% |
| 91 days to 120 days | 6.50% | 6.50% |
| 121 days to 150 days | 6.50% | 6.50% |
| 151 days to 184 days | 6.50% | 6.50% |
| 185 days to 210 days | 6.75% | 6.75% |
| 211 days to 270 days | 6.75% | 6.75% |
| 271 days to 289 days | 6.85% | 6.85% |
| 290 days to less than 1 year | 6.85% | 6.85% |
| 1 year to 389 days | 7.40% | 7.40% |
| 390 days to<15 months | 7.30% | 7.30% |
| 15 months to<18 months | 7.05% | 7.05% |
| 18 months to 2 years | 7.05% | 7.05% |
| 2 years 1 day to 3 years | 7% | 7% |
| 3 years 1 day to 5 years | 7% | 7% |
| 5 years 1 day to 10 years | 7% | 7% |
Also Read: New ICICI Bank Credit Card Airport Lounge Access Rule from April 1, 2024
ICICI Bank Golden Years FD (for senior citizens)
ICICI Bank’s Golden Years FD scheme is exclusively for senior resident citizens, applicable to deposits below Rs 2 crore. Eligible depositors receive an additional 0.10% p.a. interest on top of the existing 0.50% p.a. rate for FD tenures from 5 years and 1 day to 10 years. Premature withdrawal incurs a 1% penal rate after 5 years and 1 day, with the standard policy applying otherwise.
ICICI Bank Tax saver FD
ICICI Bank’s Tax Saver FD offers a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. The minimum deposit is Rs 10,000, with a fixed tenure of 5 years. Interest payout options include monthly, quarterly, or reinvestment in principal. There’s no premature withdrawal allowed, and the FD has an auto-renewal facility. However, the interest earned is taxable.
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Disclaimer: The above content is for informational purposes only. Please consult your financial advisor before investing in any scheme.
