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About Fixed Deposit

Benefits of Fixed Deposits Over Other Investments

  • Guaranteed returns unaffected by market fluctuations.
  • Flexible tenure options ranging from 7 days to 10 years
  • Higher interest rates compared to savings accounts.
  • Options for monthly or quarterly interest payouts to suit your financial needs.

How do I add money to my Fixed Deposit account

Individuals and entities mentioned below are eligible to apply for a regular Fixed Deposit online:

  • Residents
  • Hindu Undivided Families
  • Sole Proprietorship Firms
  • Partnership Firms
  • Limited Companies
  • Trust Accounts
  • Non-Resident Indians
  • Minors with Guardianship.

Also, the Savings Account should be KYC verified.

How to renew a Fixed Deposit?

You can easily renew your Fixed Deposit (FD) with ICICI Bank using any of the below methods:

  • Auto-Renewal: Opening an FD in the Auto Renewal mode will automatically renew it for the same period at the interest rate applicable on the day of maturity.
  • Manual Renewal: If Auto Renewal mode was not selected at the time of opening the FD, you can still manually renew your FD using Internet Banking or the iMobile app. Select 'Deposits', select the relevant FD and then click on the option to renew.

Fixed Deposit - FAQs

What is a Fixed Deposit?

An FD is an investment offered by banks and Non-Banking Financial Companies (NBFCs) that provides guaranteed returns based on the interest rate at the time of account opening. Interest rates vary depending on the deposit amount and tenure.

What types of Fixed Deposits does ICICI Bank offer?

  • Traditional Fixed Deposit: Interest is paid regularly (monthly or quarterly) as chosen during the account setup.
  • Cumulative Fixed Deposit: Interest is compounded quarterly and paid as a lump sum on maturity.

What is the ‘reverse sweep’ feature?

The ‘reverse sweep’ feature from ICICI Bank automatically transfers funds from a linked Fixed Deposit (FD) to your Savings Account when the balance in your Savings Account is low. This ensures that the transactions in your Savings Account continue, without having to break your FD manually. It’s a convenient way to access funds during emergencies while keeping your FD intact as much as possible.

Can I opt for auto-renewal for my FD? 

Yes, auto-renewal can be selected at the time of opening the FD or before maturity. The FD will renew for the same tenure as the original and at the interest rate applicable at the time of renewal.

Can I open an FD without visiting a branch? 

Yes, existing ICICI Bank customers can open an FD through Internet Banking or the iMobile app. They can also open an FD (of amount below ₹ 50,000) at any ICICI Bank ATM. New customers need to visit a Branch.

What is the tenure of Fixed Deposits? 

Fixed Deposits can be opened for flexible tenures ranging from 7 days to 10 years.

Take a word from our Customers

  • V

    Vidhya Devi

    4.2

    As a senior citizen, I prioritize safety and consistent returns for my savings. Opening a Fixed Deposit has been the perfect choice—it offers attractive interest rates and ensures my money grows securely over time. The additional interest rate benefit for senior citizens is a big advantage, giving me peace of mind and financial stability for the future. I would definitely recommended ICICI bank to anyone looking for FD as an reliable investment option!

  • M

    Manan

    2.5

    I was amazed at how easy it was to open a Fixed Deposit through the ICICI bank’s digital platform. From selecting the best tenure to completing the process by selecting the preferred FD variant, everything was smooth and quick. The ability to manage my FDs online at any time is a huge advantage, especially for someone like me who prefers digital banking. It’s the perfect combination of convenience and security!

  • K

    Kiran Thapar

    5

    As a homemaker, I always strive to manage household finances efficiently, and the ICICI bank’s Fixed Deposit with a monthly payout option has been a blessing. It ensures a steady stream of income every month, which helps me plan and cover our regular expenses without worry. It’s a reliable and safe way to make my savings work for me while providing financial independence. I’m truly happy with this decision!