Terms & Conditions

Applicant Declaration

1) I hereby declare that the details furnished above are true and correct to the best of my knowledge and belief, I under take to inform you of any changes therein, immediately.

2) In case any of the above information is found to be false or untrue or misleading or misrepresenting, I am aware that I may be held liable for it.
 
3) I further declare that the deposit made under the deposit application is through a legitimate source and does not include directly/ indirectly any proceeds of schedule of offence and/or is not designed for the purpose of contravention or evasion under any law.
 
4) I hereby consent to receiving information from Central KYC Registry through SMS/Email on the above registered number/email address.

5) I/We hereby submit that I am / We are providing the proof of possession of Aadhar as KYC document voluntarily at my/ our own discretion and I/We are aware that certain other documents can also be submitted as KYC documents.

 
Additional Terms and Conditions for existing ICICI HFC Customers

1) As an existing customer, I hereby confirm that there is no change in my KYC details as submitted at the time of opening of existing relationship.
 
2) I also agree and acknowledge that I continue to use the same signature's as provided at the time of opening of my existing relationship.
 
3) I hereby authorize ICICI HFC, to open my Fixed Deposit account without any physical signature.
 
4) I understand and agree that my Fixed Deposit account will not be opened in case my re-KYC is due for the existing relationship and that I would be required to submit fresh KYC documents for the same.

 
Additional Terms and Conditions for employee of ICICI Home Finance Company Ltd. (IHFC)

1) If you are an employee of ICICI Home Finance Company Ltd. (IHFC) then the KYC documents submitted at the time of your joining shall be considered. By accepting the terms and conditions mentioned here in you hereby give consent to IHFC to access/ consider your documents for opening of a Fixed Deposit account.
 
2) Further you here by confirm that there is no change in your KYC details from the date of submission of your documents at the time of joining.
 
3) Also, you confirm that there is no change in your signature as provided at the time of joining. Further, you also agree to process the application without signature and consider your signature as provided at the time of joining for all further transactions.

 
Additional Terms and Conditions for existing ICICI BANK customers.

1) I/We hereby give consent to ICICI Bank("Bank") to share my/our KYC documents /details as available with Bank with ICICI Home Finance Company Limited ("IHFC") for owning of Fixed Deposits account with IHFC.

2) I/We also confirm that in case our re-KYC is found to be due, we will submit the relevant documents to IHFC. Further, in case I/we have submitted Aadhaar as a proof of address/identity to Bank, we agree to submit any other valid document as a proof to IHFC.

3) I also agree and acknowledge that, I continue to use the same signature's as provided at the time of opening the account with Bank

4) I hereby authorize IHFC, to open my Fixed Deposit account without any physical signature.

The Company shall, at its discretion, accept FDs, under the ICICI Home Finance Fixed Deposit Scheme (the ‘Scheme’) subject to the below mentioned terms and conditions. These deposits solicited by the Company are not insured.

1) MODE OF ACCEPTANCE:

1. RTGS/NEFT/FT:

   Particulars	Remittance from any Bank Account
   Beneficiary Name	ICICI Home Finance Co. Ltd - FD Collection Account
   Account No.	000405070754
   IFSC	ICIC0000004
   Bank & Branch	ICICI Bank, Nariman Point

2. Cheque/Demand Draft (DD): Cheque/DD should be drawn in favor of ‘ICICI Home Fin - FD A/c’ and marked ‘Account Payee only’. The name of the applicant (‘Applicant’) should be mentioned on the reverse of the Cheque/DD. Each application shall be accompanied by a separate Cheque/DD.

3. Payment Gateway: In case applying for Online FD through our website (www.icicihfc.com), the payment will be required to be done via net banking.

4. Other Modes:Alternatively, payment can also be done through:

   • Debit Card
   • Unified Payments Interface (BHIM-UPI)
   • Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM-UPI QR Code)

2) SUBMISSION OF APPLICATION FORMS:

Duly completed Fixed Deposit application form, KYC form, documents as per policy of the Company and Cheque /DD, if any, need to be delivered to the local/nearest branch/corporate office of the Company. FD application can be done online on the official website of the Company as well.

3) INTEREST PAYMENTS:
Interest will be payable on the deposit from the effective deposit date, subject to realization of Cheque /DD/Credit of Funds in the Company’s account. Interest on deposits placed under Monthly Income Plan, Quarterly Income Plan and Annual Income Plan shall be paid on fixed dates as given below:

Under the Cumulative Income Plan, interest will be compounded annually and accrued every year on March 31 after deducting tax, wherever applicable. The accumulated interest will be paid on maturity amount & shall not exceed the total maturity amount as calculated on a year on year basis of compounding.

Please note that all payments for part periods shall be made on pro-rata basis. If a deposit is made within a period of 20 days prior to a standard interest payment date, the interest for the part period will be paid on the next standard interest payment date.

Payment of interest will be made to depositors primarily through ECS/NEFT/RTGS where the facility is available. Where ECS/NEFT/RTGS facility is not available, payments will be in the form of Cheque /DD/any other mode as the Company may deem fit and would be in favor of the Sole/First applicant/ depositor marked “A/c Payee only”. Direct Credit option may be used if the first/sole holder has an account with ICICI Bank Limited. In case the first applicant/depositor is a minor, all payments will be in the name of minor along with the natural/legal guardian. In all cases where interest has to be paid to any person other than the Sole/First Applicant/Depositor (refer Terms & Conditions applicable on joint deposits and succession on application form). All post-dated uncashed interest instruments(s) in the name of the Sole/First Applicant/Depositor, if any, would have to be surrendered to the Company.

4) RENEWAL/REPAYMENT OF DEPOSIT:

1. For renewal or repayment of deposit, the discharged deposit receipt or E-FDA (optional, other than in few conditions) must be surrendered to ICICI Home Finance Co. Ltd. In case of renewal, the deposit may be renewed on maturity on such terms and conditions of the scheme as applicable on the maturity date of the old deposit.
2. The depositor can instruct to pay principal & interest, in entirety, to his/her designated bank account by giving an explicit consent in this regard at the time of application.
3. In the case of renewal of deposit in joint names, application form should be signed as per the mode of operation as mentioned in the application form.
4. Deposits will automatically expire on maturity unless specified otherwise and the maturity proceed will be remitted to the designated bank account. No interest will accrue thereafter on such deposits unless the deposits are renewed as per terms noted under Renewal of Deposit.
5. The Company will send intimation letters/emails with regard to the details of the maturity of the deposit at least 14 days before the date of maturity of the deposit. You may modify maturity instructions by giving a request letter at least 7 working days prior to the maturity date or any other mode as approved by the Company.
6. In case the first applicant/depositor is a minor, all payments will be in the name of minor along with the natural/legal guardian.
7. DARPAN Registration for Non-Profit Organization/ Public Charitable or Religious Trust/ Charitable or Religious Society/ Company registered under Section 8 of the Companies Act, 2013: As per latest RBI Master Direction – Know Your Customer (KYC) Regulations, if any entity falls under the above mentioned category, then it is mandatory for all such entity/ ies to provide their DARPAN Registration number of NITI Aayog . If entity/ ies are not registered, they will have to ensure registration at https://ngodarpan.gov.in and then provide their DARPAN Registration number with the Company.
   If an existing customer for FD falls under the above-mentioned category, then they are required to comply with RBI Master Direction - Know Your Customer (KYC) Regulations. The Company will provide renewal intimation letters at least 15 days prior to maturity where-in for such customers DARPAN Registration number will be sought. If any customer fails to do so, their FD shall be treated as matured on maturity in case of auto-renewal cases and it will not be auto-renewed since this is a regulatory requirement.

5) PREMATURE WITHDRAWAL OF THE DEPOSIT:

As per the NBFC- Housing Finance Company (Reserve Bank) Directions, 2021, no premature withdrawal is allowed for a period of first 3 months from the date of deposit,

except in the following cases:

In case of premature withdrawal, the following rates shall apply:

For premature withdrawals of deposits, the duly discharged FDR signed by all the depositors with revenue stamp of requisite value or E-FDA must be surrendered to the Company.

6) TAX DEDUCTION AT SOURCE (TDS):

In accordance with and as per the provisions of section 194A of the Income Tax Act, 1961 (The Act), tax at source would be deducted if interest credited/paid or likely to be credited/paid to resident depositor(s) during the financial year exceeds ₹10,000/- on consolidated amount in case of multiple fixed deposit are placed by the customer. This exemption is not applicable for non-resident depositors where tax at source is deducted under section 195 of the Act. As per section 206AA of the Income Tax Act, 1961 w.e.f . April 1, 2010 applicable to all residents and non-residents FD depositor(s), a valid PAN (Permanent Account Number) is mandatory where tax is deductible at source. In case of individual depositors, PAN should be linked to Aadhaar as per requirement of section 139AA of the Income Tax Act, 1961. Form 15G/H and Form 60 should not be accepted in case where PAN and Aadhaar is not linked. In case of invalid or inoperative PAN (due to non-linking of PAN- Aadhaar ) TDS at the higher rate of 20% shall be deductible and will not be reversed once deducted and paid to the Government.

The default tax regime for resident individuals shall be the new tax regime. Form 15G can be submitted by individuals below 60 years of age/ HUFs/ Trusts in case the declared total taxable income is less than or equal to ₹4,00,000/- for concerned financial year. Form 15H can be submitted by resident individuals who are of the age 60 years or more if declared total taxable income is less than or equal to ₹12,00,000/- for concerned financial year. Further, details in this regard are provided in the application form.

Additional Terms & Conditions

1) JOINT DEPOSITS:

Deposits can be made in joint names with a maximum of three persons. The interest on deposits in joint names will be paid to the first depositor for the purpose of deduction of tax at source and any discharge given by him/her will be binding on the joint depositor(s).

2) DEPOSIT IN THE NAME OF A MINOR:

Deposits in the name of a minor will be accepted provided such minor is represented by his/her natural or legal guardian and the Application Form for the deposit is signed by the natural/legal guardian, on behalf of the minor.

3) NOMINATION:

The Depositor(s), whether individually or jointly, can make up to three nominations. Holder of Power of Attorney or a guardian applying on behalf of a minor cannot nominate. Name of the nominee shall be given on the deposit receipt, unless mentioned otherwise.

4) LOAN AGAINST DEPOSITS:

Loan against Deposit may be availed from the Company after 3 months from the date of deposit. This facility is not available for deposits from minors and Non-Resident Indians (NRIs). For more details, visit www.icicihfc.com/fixed-deposit

5) NON-RESIDENT INDIANS (NRIs):

Deposits would be accepted from NRIs and Person of Indian Origin resident outside India for a maximum period of 3 years and in accordance with the applicable regulations. Payment of interest and the repayment of deposit shall be made only by credit to NRO (Non-Resident Ordinary) Account. Income tax at source will be deducted as applicable to non-residents.

6) SUCCESSION:

Where the nominee predeceases the depositor(s) and in the event of the demise of the sole/all holder(s) of the Fixed Deposit, the Company will recognize the executor or administrators of the deceased applicants/depositors, or holder of Succession Certificate or any other legal representative as the holder of the title to the Fixed Deposits. The Company shall not be bound to recognize such executor or administrator unless such executor or administrator obtains Probate or Letter of Administration or Succession Certificate or other legal representation, as the case may be, from an appropriate court in India or any other document as may be deemed fit by the Company.

7)ELECTRONIC FIXED DEPOSIT ADVICE (E-FDA):

a) E-FDA will be delivered to the first applicant/depositor given in the application form at the time of new FD booking or renewal of the existing FD via SMS on the registered mobile number/registered e-mail id as well as on FD portal login access of the primary account holder or in any other manner that the Company may deem fit after realization of Cheque /DD/Credit of funds in Company's account.

b) E-FDA is non-transferable & not negotiable. It cannot be assigned, transferred, pledged or given as security for any loan/ credit facility in favor of any party except ICICI Home Finance. FD receipt will be issued to the depositor on demand only one time during the tenor. For premature withdrawal of the FD due to the account holder's death, where the mode of operation is “single” or “jointly,” the nominee/claimant must provide the e-FDA and supporting KYC documents for release.

8) WAIVER:

No failure, delay or partial exercise by the Company in invoking any right, power or privilege hereunder shall operate as a waiver of its rights.

9) INDEMNITY:

The Depositor hereby agrees that the Depositor shall, at his/its own expense, indemnify, defend and hold harmless the Company from and against any and all liability, loss or damage that may occur, arising from or relating to the operation of fixed deposit by the Depositor or breach, nonperformance or inadequate performance by the Depositor of any of these terms, breach of representations, misrepresentations, misconduct and/or negligence of the Depositor in performance of its obligations.

Under no circumstances shall the Company be liable to the Depositor for any indirect, incidental, consequential, special or exemplary damages in connection with the services.

10) TAX BENEFITS:

There is no specific tax benefit available on this Fixed Deposit under the prevailing provisions of the Income Tax Act,1961.

11) BROKERAGE:

Empaneled brokers are eligible for brokerage/commission on the amount of Fixed Deposits mobilized by them as prescribed for this scheme.

12) LOSS, DESTRUCTION, ETC. OF DOCUMENT:

Fixed Deposit Receipts interest and refund Cheques /DDs may be sent by registered post or courier or in any other manner that the Company may deem fit, at the address of the sole/first applicant/depositor given in the application form. The Company will not be responsible for any loss or delay in transit due to postal/courier services or any circumstances beyond its control.

In the event of loss, destruction or mutilation of the fixed deposit receipt, interest or refund Cheque /DD, the Company may issue a duplicate fixed deposit receipt, interest or refund Cheque /DD, subject to non-encashment of the original instrument, upon receipt from the depositor of an indemnity in the prescribed form to its satisfaction and after compliance with such other formalities/documents as may be required by the Company.

13) PARTICULARS TO BE SPECIFIED UNDER PARAGRAPH 35 OF THE NON-BANKING FINANCIAL COMPANY - HOUSING FINANCE COMPANY (RESERVE BANK) DIRECTIONS, 2021:

1. In Case of any deficiency of the Company in servicing its deposits, the depositors may approach NHB, National Consumers Disputes Redressal Forum, the State Level Consumers Disputes Redressal Forum or the District Level Consumers Dispute Redressal Forum for relief.
2. In case of non-repayment of the deposit or part thereof in accordance with the terms and conditions of the deposit, the applicant/depositor may make an application to the authorized officer of the National Housing Bank.
3. The financial position of the Company as disclosed and the representations made in the application form are true and correct. Further the Company and its Board of Directors are responsible for the correctness and veracity thereof.
4. The Company is within the regulatory framework of the Reserve Bank of India. It must, however, be distinctly understood that Reserve Bank of India or National Housing Bank does not undertake any responsibility for the financial soundness of the Company or for the correctness of any of the statements or the representations made or opinions expressed by the Company, and for repayment of deposit/ discharge of liabilities by the Company.

14) GENERAL:

The Company reserves the right to reject any application for deposit or renewal of deposit without assigning any reason thereof

Interest Rates are subject to change and the rate applicable will be the rate prevalent as on the date of Deposit.

The terms and conditions mentioned herein are to be read in conjunction with and in addition to all other terms and conditions as specified in the relevant application form.

The Company has the right to change, amend, add or delete any of the terms and conditions governing the fixed deposit and it shall give notice of the same to the applicant/depositor, in accordance with the applicable guidelines. Disputes, if any, arising in connection with the fixed deposit scheme, will be subject to the jurisdiction of Courts and Tribunals of Mumbai.

15) KYC compliance norms for beneficial owner:

In case of non-individual customers:

In case of corporate customers:

For more documentation process regarding beneficial owners, refer application form/s.

PARTICULARS AS REQUIRED UNDER NON-BANKING FINANCIAL COMPANIES AND MISCELLANEOUS NON-BANKING COMPANIES (ADVERTISEMENT) RULES, 1977

a) Name of the Company: ICICI Home Finance Company Limited.

b) Date of Incorporation: May 28, 1999

c) ( i ) Business carried on by the Company: The primary business of the company is to provide a range of home loans and home improvement loans, office premises loans, home equity loans, loan against property to customers and construction finance to developers. The Company does not have a subsidiary company.

(ii) Branches

For any details or queries, you can contact us at 18002674455 or Email us at customer.care@icicihfc.com . If you are not satisfied with the resolution, please write to us at nodal.office@icicihfc.com or contact us on 022-66493844.

d) Brief particulars of the management of the Company:

The Board of Directors of the Company has the ultimate responsibility for the management of its business. Mr. Rakesh Jha is the Non-Executive Director Chairman of the Board. Ms. Vineeta Rajadhyaksha, Managing Director & CEO has the overall responsibility for the business of the Company.

e) Name, address and occupation of the Directors:

Name : Rakesh Jha

Occupation : Service

Address : ICICI Bank Towers, Bandra-Kurla Complex, Mumbai 400 051

Name : Atul Arora

Occupation : Service

Address : ICICI Bank Towers, Bandra-Kurla Complex, Mumbai 400 051

Name : Sandhya Gadkari Sharma

Occupation : Retired Executive

Address : B-206, Ashoka Tower, Dr. Ambedkar Road, Parel , Mumbai 400 012

Name : Dilip Kumar Pal

Occupation : Retired Executive

Address : 101 Shwetha Apartment, N.M. Kale Road, Agarbazar , Prabhadevi , Mumbai- 400028

Name : G Gopalakrishna

Occupation : Retired Executive

Address :B 301 – 302, Lady Ratan Tower, Danik Shivner Marg, Gandhinagar, Worli Mumbai – 400018

Name : Vineeta Rajadhyaksha

Occupation : Service

Address : ICICI HFC Towers, Andheri- Kurla Road, Mumbai 400 059

f) Profits & Dividends:

Including final dividend, proposed as at the end of the respective financial year.

g) Summarized financial position of the Company as appearing in the latest audited Balance Sheets:                                                                            ₹ in million

                                                                                                                        ₹ in million

Fixed assets include intangible assets.

#Previous year figures have been regrouped/reclassified, wherever necessary, to correspond with current year classifications/disclosures.

                                                                                                                        ₹ in million

h) Information relating to aggregate dues (including the non-fund base facilities provided to) from companies in the same group or other entities or business ventures in which, the directors and/or the HFC are holding substantial interest and the total amount of exposure to such entities:

                                                                                                                        ₹ in million

i )   In terms of Review of regulatory framework for HFCs and harmonisation of regulations applicable to HFCs and NBFCs, the Company can borrow up to twelve times of the net owned funds, on or after March 31, 2025, i.e. ₹ 430,468.8 million (NOF at March 31, 2025 stands at ₹ 35,872.4 million), out of which, not more than 1.5 times the net owned funds can be by way of public deposits, i.e. ₹ 53,808.6 million. At March 31, 2025, the aggregate public deposits held by the Company was ₹ 26,229.7 million. There are no overdue deposits other than unclaimed deposits.

j) The Company has not made any default in repayment of deposit including interest to any depositor including small depositor during FY2025

k) We declare that: (1) the Company has complied with the provisions of the RBI Master Directions applicable to it, (2) the compliance with the Directions does not imply that repayment of deposits is guaranteed by the Reserve Bank of India and the National Housing Bank; and (3) the deposits accepted by the Company are unsecured and rank pari passu with other unsecured liabilities of the Company.

The Company is having a valid Certificate of Registration dated 31-07-2001 issued under Section 29A of the National Housing Bank Act, 1987. However, the Reserve Bank of India or the National Housing Bank does not accept any responsibility or guarantee about the present position as to the financial soundness of the Company or for the correctness of any of the statements or representations made or opinion expressed by the Company and for repayment of deposits/discharge of liabilities by the Company.

The above text has been approved by the Board of Directors at its meeting held on April 12, 2025 and is being issued on authority and in the name of the Board of Directors of the Company. A copy of the text of advertisement signed by majority of Directors of the Company has been filed with the National Housing Bank.