ICICI Bank FD Interest Rate 2023 : Know the current rates and open an FD

Published on: 29 August 2023

With the latest FD interest rates of ICICI Bank, you can now open an FD and earn lucrative returns. While regular investors can get interest rates of up to 7.10% p.a., senior citizens can enjoy rates of up to 7.60% p.a., depending on the chosen tenure.

To start your FD investment with ICICI, all you need is ₹10,000. This coupled with flexible tenure options going up to 10 years, can help you earn handsome FD returns to match your financial goals. 

Read on to learn the current ICICI FD rates, eligibility requirements and the documents required to open an FD account.

FD interest rates of ICICI Bank for deposits Less Than ₹2 crores

Here is a table depicting the FD rate of ICICI Bank based on the investor’s age and chosen tenure.

Disclaimer: These rates are the most recent FD rates as of August 2023 and may be revised by ICICI.

Make sure you check the bank’s website or app before you open an FD to get the latest rates. Furthermore, for deposit amounts exceeding ₹2 crores, the FD interest rate of ICICI Bank differs. You can access these on the website. 

Remember, these rates also vary depending on the tenure. So, use an FD calculator to compute your earnings well in advance and open an FD scheme that best aligns with your needs and goals.

Read Also: ICICI balance check number

Who can open an ICICI Bank FD?

To open an FD with ICICI Bank, you must meet the required parameters set by the bank. The following groups can open an FD account in ICICI Bank:

• Indian residents over the age of 18 and minors under the custody of a guardian 
• Member of Hindu Undivided Families
• Sole proprietorship and partnership firms
• Limited companies
• Trusts 
• Non-resident Indians

Documents Required to open an ICICI Bank FD 

Once you have checked the eligibility terms and interest rates, you can open an FD with the following documents.

• Identity proof: Aadhaar card, Passport, NREGA card, Driver’s licence, Voter ID, etc 
• Address proof: Utility bill, Letter issued from the National Population Register, Aadhaar card, Passport, etc. 

You can generate guaranteed returns when you park your funds in an FD. Being a non-market-linked investment, it’s a great option if you want to invest in low-risk avenues. Moreover, FDs also have the option of premature withdrawal, giving you immediate access to funds if you need it. However, this comes with a small penalty that may affect your overall earnings. 

Instead, you can opt for an Instant Personal Loan from Fibe. Get instant access to loan amounts of up to ₹5 lakhs at competitive rates and flexible tenures with us. Register on the Fibe Personal Loan App or website and enjoy the benefits of a fast and simple 100% digital application process. 

FAQs on ICICI Bank FD Interest Rates 

What is the interest rate of FDs in ICICI Bank?

The FD interest rates of ICICI Bank start from 3.00% and go up to 7.10% per annum for non-senior investors. Senior investors can enjoy rates starting from 3.50% p.a. and up to 7.60% p.a. 

What is the current FD rate of ICICI Bank?

ICICI FD rates depend on your deposit amount, tenure and age. If you are under 60 years of age, you can get interest rates ranging from 3.00% to 7.10% per annum. For senior citizens, the rate of interest for an ICICI FD varies between 3.50% and 7.60% per annum. 

Is ICICI Bank safe for fixed deposits?

Yes, you can trust ICICI Bank and open an FD to earn secure and guaranteed returns. This is one of the safest FDs with a credit rating of ‘AAA.’

Can I break an ICICI FD anytime?

You can liquidate your deposit before the maturity date by paying a small penalty. However, if you open an ICICI FD without the premature withdrawal facility, you cannot liquidate it before your maturity period.