Fixed Deposit (FD) Interest Rate
A Fixed Deposit works on the principle of tenure-based investing. Each tenure comes with a pre-determined interest rate. Generally, the longer the tenure, the higher the interest rate will be. The growth of your FD investment depends on the applicable interest rate and the frequency of interest paid.
ICICI HFC Fixed Deposits offer a combination of attractive interest rates, under non-cumulative and cumulative schemes.
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.
Find out our existing interest rates for non-cumulative and cumulative schemes for a tenure of your choice in the table below. You can also use or FD calculator to know the growth of your FD investment.
Base Rates for Fixed Deposits < ₹20.0 mn (Public Deposits)
Interest rates applicable from May 11, 2023 subject to review subsequently. Rate of Interest for Public Deposits.
Tenure |
Effective May 11, 2023 | ||||
| Cumulative | Non-Cumulative | ||||
| Cumulative Plan | **Indicative Yield(Cumulative option) |
Monthly Income Plan |
Quarterly Income Plan | Yearly Income Plan |
|
| >=12 to <24 | 7.00% | 7.00% | 6.80% | 6.85% | 7.00% |
| >=24 to <36 | 7.35% | 7.62% | 7.10% | 7.15% | 7.35% |
| >=36 to <60 | 7.45% | 8.02% | 7.20% | 7.25% | 7.45% |
| >=60 to <=120 | 7.30% | 8.45% | 7.05% | 7.10% | 7.30% |
| 0.25% additional interest for senior citizen and ICICI Group employees | |||||
Base Rates for Fixed Deposits < ₹20.0 mn (Corporate Deposits)
Interest rates applicable from May 11, 2023 subject to review subsequently. Rate of Interest for other than Public Deposits.
Tenure |
Effective May 11, 2023 | ||||
| Cumulative | Non-Cumulative | ||||
| Cumulative Plan | **Indicative Yield(Cumulative option) |
Monthly Income Plan |
Quarterly Income Plan | Yearly Income Plan |
|
| >=12 to <24 | 7.00% | 7.00% | 6.80% | 6.85% | 7.00% |
| >=24 to <36 | 7.35% | 7.62% | 7.10% | 7.15% | 7.35% |
| >=36 to <60 | 7.45% | 8.02% | 7.20% | 7.25% | 7.45% |
| >=60 to <=120 | 7.30% | 8.45% | 7.05% | 7.10% | 7.30% |
| **The yield mentioned is calculated using the first month of each tenure grid & in case of cumulative deposit, interest is compounded before deduction of tax. | |||||
Tenure |
Special Scheme Rates for Public Deposits < ₹20.0 mn | ||||
| Effective May 11, 2023 | |||||
| Cumulative | Non-Cumulative | ||||
| Cumulative Plan | **Indicative Yield(Cumulative option) |
Monthly Income Plan |
Quarterly Income Plan | Yearly Income Plan |
|
| 23 | 7.40% | 7.66% | 7.15% | 7.20% | 7.40% |
| 39 | 7.55% | 8.23% | 7.30% | 7.35% | 7.55% |
| 45 | 7.60% | 8.45% | 7.35% | 7.40% | 7.60% |
| 65 | 7.50% | 8.87% | 7.25% | 7.30% | 7.50% |
| 0.25% additional interest for senior citizen and ICICI Group employees | |||||
| **In case of a cumulative deposit, interest is compounded before deduction of Tax | |||||
| For deposits >= 20.0 million, rate would be offered on case to case basis | |||||
Tenure |
Special Scheme Rates for Corporate Deposits < ₹20.0 mn | ||||
| Effective May 11, 2023 | |||||
| Cumulative | Non-Cumulative | ||||
| Cumulative Plan | **Indicative Yield(Cumulative option) |
Monthly Income Plan |
Quarterly Income Plan | Yearly Income Plan |
|
| 23 | 7.40% | 7.66% | 7.15% | 7.20% | 7.40% |
| 39 | 7.55% | 8.23% | 7.30% | 7.35% | 7.55% |
| 45 | 7.60% | 8.45% | 7.35% | 7.40% | 7.60% |
| 65 | 7.50% | 8.87% | 7.25% | 7.30% | 7.50% |
| 0.25% additional interest for senior citizen and ICICI Group employees | |||||
| **In case of a cumulative deposit, interest is compounded before deduction of Tax | |||||
| For deposits >= 20.0 million, rate would be offered on case to case basis | |||||
Frequently Asked Questions
Q.1.Can I get monthly interest on ICICI HFC Fixed Deposits?
Yes, you have the option of receiving monthly interest on your Fixed Deposit under our non-cumulative scheme. Your deposit will earn the applicable fixed interest rate for the entire deposit period as chosen by you.
To check the applicable monthly interest rates, please use our online FD calculator .
Q.2. Is interest on FD taxable?
Yes. The interest income from Fixed Deposits is fully taxable. You should add it to your total income under the head ‘Income from Other Sources’ while filing your returns. The applicable tax rate would depend on your income slab and the taxable amount limit.
Q.3. How to choose the best FD scheme?
FD is a good investment option if you wish to avail stable returns on your investment. Keep the following things in mind while choosing a particular FD scheme.
Interest rates: The higher the rate of interest on your FD, the faster your investment will grow. Compare the applicable rate of interest for the term of your choice.
Interest payout options: The growth of your FD investment depends on the applicable interest rate and the frequency of interest paid. Check the frequency of interest payouts like monthly, quarterly or annually.
FD Tenure: Each tenure comes with a pre-determined interest rate. Generally, the longer the tenure, the higher the interest rate will be. Check if there is a lock-in period for your FD and see if it suits your investment tenure.
Pre-mature withdrawal option: In certain situations, you may want to break your FD before the maturity date. Check if any penalty will be levied if you break your FD before maturity.
Safety ratings: Go for FD schemes that have credible safety ratings from rating agencies.
ICICI HFC Fixed Deposits offer a combination of attractive interest rates, liquidity, safety of capital and assured returns.
Q.4. How is the interest on a Fixed Deposit calculated?
The interest rate on an FD depends upon the tenure you choose. Each tenure comes with a pre-determined interest rate. Generally, the longer the tenure, the higher the interest rate will be.
ICICI HFC Fixed Deposits offer a combination of attractive interest rates, under non-cumulative and cumulative schemes.
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.
Find out our existing interest rates for non-cumulative and cumulative schemes for a tenure of your choice in the table below. You can also use or FD calculator to know the growth of your FD investment.
Q.5. What Is the Minimum And Maximum tenure for FD?
At ICICI HFC, FD schemes are available for a minimum tenure of 1 year and a maximum tenure of 10 years for Resident Indians. For Non-Resident Indians, the maximum tenure is 3 years.
Q.6. How many years will it take for my FD investment to double?
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.
