ICICI Bank is a premier private sector bank in India. Apart from various other products, the group offers the option for opening a Fixed Deposit (FD) account with it.
You can open the fixed deposit account under either of the traditional or cumulative scheme. Under the traditional scheme, you will be paid interest on monthly, quarterly, or annual basis as per your convenience with a maturity period ranging from 7 days to 10 years.
In cumulative deposits, interest gets accumulated along with the deposit amount.You are eligible to earn interest on monthly/quarterly/annually reinvested with the principal amount with a maturity period ranging from 6 months to 10 years.But you can receive the payment of the principal as well as the accumulated interest only upon maturity or premature withdrawal.
The minimum amount that you need to invest under cumulative scheme is Rs 10000. The minimum amount undernon-cumulative scheme is Rs 10000 for annual option, Rs 20000 for quarterly option and Rs 40000 for monthly option.
Resident individual/ HUFs/NRIs/firms/association of persons/charitable trusts/corporates etc are eligible to open a fixed deposit account in ICICI Bank.
You can open a Fixed Deposit Account through a number of channels like Internet/Phone Banking or simply by contacting your nearest ICICI Bank branch. If you wish, you can purchase FD online from the bank’s site, or through BankBazaar.com.
You enjoy liquidity on your investment as you can make premature withdrawals in multiples of Rs. 1, 000 subject to applicable charges. You can also get a loan or overdraft up to 90 per cent of principal and accrued interest. If you wish, you will get automatic renewal of Fixed Deposit Account on completion of tenure.
The minimum amountfor general customersfor a Fixed Deposit of ICICI Bank is Rs 10,000 for and Rs 2,000 in case of minors.
You can nominate a single nominee to your account proceeds, whether held solely or jointly. You are required to fill a form prescribed under the Banking Companies (Nomination Rules), 1985.
You have the option of making deposits in joint names with a maximum of three persons. But the interest on deposits in joint names is paid only to the first depositor.
The documents required to opena fixed deposit account in ICICI include originals and a photocopy of either of the following for identify proof – passport, PAN card, voter ID card, driving licence, government ID card, ration card and senior citizen ID card.
For address proof, you can submit a photocopy ofone of the following documents: Passport, telephone bill, electricity bill, bank statement with cheque
Certificate or ID card issued by the Post office. You also need to submit your photograph and any other identity proof or address proof document, subject to the bank's satisfaction.
Senior citizens are eligible for 0.35 per cent extra interest rate on fixed deposits. ICICI will pay all interest and redemption in the form of ECS/Cheque/DD or any other mode as it may deem fit in favour of the sole/first depositor in the account payee mode.
So, act quickly. As mentioned earlier, under Fixed Deposit Account in ICICI bank you have the option of letting and your savings grow for 7 days or a decade!
You can open the fixed deposit account under either of the traditional or cumulative scheme. Under the traditional scheme, you will be paid interest on monthly, quarterly, or annual basis as per your convenience with a maturity period ranging from 7 days to 10 years.
In cumulative deposits, interest gets accumulated along with the deposit amount.You are eligible to earn interest on monthly/quarterly/annually reinvested with the principal amount with a maturity period ranging from 6 months to 10 years.But you can receive the payment of the principal as well as the accumulated interest only upon maturity or premature withdrawal.
The minimum amount that you need to invest under cumulative scheme is Rs 10000. The minimum amount undernon-cumulative scheme is Rs 10000 for annual option, Rs 20000 for quarterly option and Rs 40000 for monthly option.
Resident individual/ HUFs/NRIs/firms/association of persons/charitable trusts/corporates etc are eligible to open a fixed deposit account in ICICI Bank.
You can open a Fixed Deposit Account through a number of channels like Internet/Phone Banking or simply by contacting your nearest ICICI Bank branch. If you wish, you can purchase FD online from the bank’s site, or through BankBazaar.com.
You enjoy liquidity on your investment as you can make premature withdrawals in multiples of Rs. 1, 000 subject to applicable charges. You can also get a loan or overdraft up to 90 per cent of principal and accrued interest. If you wish, you will get automatic renewal of Fixed Deposit Account on completion of tenure.
The minimum amountfor general customersfor a Fixed Deposit of ICICI Bank is Rs 10,000 for and Rs 2,000 in case of minors.
You can nominate a single nominee to your account proceeds, whether held solely or jointly. You are required to fill a form prescribed under the Banking Companies (Nomination Rules), 1985.
You have the option of making deposits in joint names with a maximum of three persons. But the interest on deposits in joint names is paid only to the first depositor.
The documents required to opena fixed deposit account in ICICI include originals and a photocopy of either of the following for identify proof – passport, PAN card, voter ID card, driving licence, government ID card, ration card and senior citizen ID card.
For address proof, you can submit a photocopy ofone of the following documents: Passport, telephone bill, electricity bill, bank statement with cheque
Certificate or ID card issued by the Post office. You also need to submit your photograph and any other identity proof or address proof document, subject to the bank's satisfaction.
Senior citizens are eligible for 0.35 per cent extra interest rate on fixed deposits. ICICI will pay all interest and redemption in the form of ECS/Cheque/DD or any other mode as it may deem fit in favour of the sole/first depositor in the account payee mode.
So, act quickly. As mentioned earlier, under Fixed Deposit Account in ICICI bank you have the option of letting and your savings grow for 7 days or a decade!