No, FDs are non- transferable and non-negotiable

You have the option of opening a fixed deposit in auto closure/auto-renew mode under either of the non-cumulative or cumulative schemes. Under the non-cumulative scheme, interest would be paid on a monthly, quarterly or annual basis. In cumulative deposits, interest is accumulated with the deposit amount, which again is eligible to earn interest on annual compounding principle. The principal, as well as the accumulated interest, is paid to the customer only upon maturity or premature withdrawal.

The public fixed deposit schemes of ICICI HFC are governed by regulations issued by the National Housing Bank ("NHB"), the regulatory authority of HFCs. The applicable regulations include the National Housing Bank Act, 1987, Housing Finance Companies (NHB) Directions, 2010, guidelines circulars and notifications issued by NHB from time to time.

You can open an ICICI HFC Fixed Deposit from the comfort of your home on our website by clicking here. You may also call us at our 24 hours Customer Care Centre or walk into any of our 135+ ICICI HFC branches.

Yes, ICICI HFC will issue an FD receipt acknowledging the money deposited by you has reached us.

Interest is paid as per the FD income plan selected by you while depositing money with ICICI HFC. For the non-cumulative scheme, the interest on FD is paid on a monthly/quarterly/annual basis based on the monthly/quarterly/annual income plan opted by you. For the cumulative scheme, the interest is compounded to the deposit amount on an annual basis on March 31st, every year and the accumulated interest will be paid on maturity along with deposit amount.

For all deposit products interest will accrue from the date of realisation of the Cheque / Demand Draft/credit of funds in the company's account, subject to receipt of FD Application Form and other KYC documents to the satisfaction of ICICI HFC.

Yes, the single depositor may open several deposit accounts, however, the interest income will be clubbed.

Yes, if you are an individual, you can open an FD account in joint names with the clause "First Depositor or Survivor(s)"1, At ICICI HFC, you can make deposits in joint names with a maximum of three persons.

Yes, the guardian of the minor can sign on his behalf on the FD Application Form.

The redemption payment will be in the form of Fund Transfer (NEFT / RTGS) / Demand Draft or any other mode as ICICI HFC may deem fit. Direct credit option may also be used if you have an account with ICICI Bank Limited.

You would have to submit a request for premature withdrawal of the deposit signed by all the depositors along with duly discharged FDR with a revenue stamp of requisite value signed by all the depositors to the nearest ICICI Bank branch/ ICICI HFC Corporate office.

Yes, the depositor can do 100% withdrawal of FD in case of Critical illness. Critical illness is defined as click here

Yes, loan facility is available at the discretion of ICICI HFC, which can be availed only after three months from the date of deposits and up to 75% of the deposit amount subject to certain terms and conditions as mentioned on the FD Application Form. Interest on such loans will be 2% above the deposit rate. Please note that this facility is available only to individuals (other than minors and NRIs) and HUFs.

An application requesting to update the address, bank account details, etc. may be submitted to ICICI HFC along with the proof of a document, like new residence proof, canceled cheque'. All the account holders should sign the application.

If the aggregate interest income that you are likely to earn for all your deposits is greater than ₹.5,000/- in a financial year, you become liable for TDS, subject to submission of Form 15G (For entities other than Companies/Firms)/15H (For Senior Citizen who is of the age of 60 years or more) or a certificate for lower/nil deduction of TDS issued by Income Tax Authorities u/s 197 of the Income Tax Act, 1961. Interest earned from deposits held by minors is also subject to TDS if the income exceeds the above-specified exemption limit. The credit for TDS can be claimed by the person in whose hands, the minor's income is included. In the case of NRIs, no exemption is available i.e any amount of interest earned during the financial year by NRI shall attract TDS. For availing the benefit of the Double Taxation Avoidance Agreements (DTAA) i.e lower rate of TDS then NRI depositors shall be required to provide Permanent Establishment (PE) declaration, Tax Residency Certificate (TRC) of the country of their residence along with a Declaration Form available with NRI FD Application Form. No TDS shall be deducted if the NRI depositor provides us with a certificate for lower/nil deduction of TDS issued by Income Tax Authorities u/s 197 of the Income Tax Act, 1961.

TDS is deducted every time the Company pays or credit interest during the financial year. In addition, TDS is also deducted on interest accrued (but not yet paid) at the end of the financial year viz. 31st March.

60 years and above age citizens are considered as senior citizens.

Yes, they do get extra benefits in the form of special interest rates that may vary from scheme to scheme. While placing the deposit with ICICI HFC, along with other required documents, the depositor needs to provide proof of age establishing that he/she is a senior citizen.

Yes, provided the first account holder is a senior citizen.

To avail benefits as a senior citizen, the depositor is required to submit a self-attested copy of one of the following documents:

• Voter's Identity Card
• Birth certificate issued by the competent authority
• Voter's Identity Card
• Passport
• PAN card
• Aadhaar Card
• Any other document acceptable to the Company

A Fixed Deposit (FD) is an investment instrument that promises a fixed rate of interest.

Fixed Deposits work on the principle of tenure-based investing. When you invest in a Fixed Deposit, you have the option to choose a tenure (also known as ‘term’). When you select a tenure, say, 1 year or 10 years, you are deciding to block your money for a pre-defined period of time.

Each tenure comes with a pre-determined interest rate. Generally, the longer the tenure, the higher the interest rate will be. Although FDs come with a fixed tenure, you can easily withdraw from it in case of an emergency with penalty. ICICI HFC Fixed Deposits offer a combination of attractive interest rates, liquidity & covers against market volatility.

The growth of your FD investment depends on the applicable interest rate. As a rule of thumb, divide 72 with the applicable rate to calculate the period in which your FD amount will double. For example, if the interest rate on your FD is 7.60%, then the number of years in which your FD investment will double is 9.47 years (72/7.60).

You can use our online FD calculator to calculate the growth of your FD investment.

FDs are a convenient way to start your savings in a safe and secured manner, while earning attractive returns.

Depending on the frequency of the deposit you choose, your minimum deposit amount will be Rs 10,000 for an Annual / Cumulative Income Plan; Rs 20,000 for a Quarterly Income Plan and Rs 40,000 for a Monthly Income Plan. 

You have the option of opening a Fixed Deposit in auto closure / auto renew mode under either of the non-cumulative or cumulative schemes. The growth of your FD investment depends on the applicable interest rate and the frequency of interest paid.

Under the non-cumulative scheme, Fixed Deposit interest would be paid on a monthly, quarterly or annual basis depending on the scheme opted by you. In cumulative deposits, the FD interest is accumulated with the deposit amount, which is eligible to earn interest on annual compounding principle. The principal as well as the accumulated interest is paid to the customer only upon maturity or premature withdrawal.

To check the applicable monthly interest rates, please use our online FD calculator.