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ICICI Home Finance FD Interest Rates 2021

ICICI Home Finance FD Interest Rates

Last Updated 01st Mar 2021

When it comes to the FD interest rate, the highest rate offered on ICICI Home Finance FD is 6.45%. Latest ICICI Home Finance FD interest rate for senior citizens, on the other hand ranges between 4.55% to 6.70%.

Tenure FD interest rates Senior Citizen FD interest rates
12 months to 23 months 29 days 4.30% 4.55%
24 months to 35 months 29 days 5.55% 5.80%
36 months to 47 months 29 days 5.95% 6.20%
48 months to 60 months 6.20% 6.45%
60 months to 72 months 6.25% 6.50%
Earn upto 6.95% on FD APPLY NOW

ICICI Home Finance Fixed Deposit Features

ICICI Home Finance FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of ICICI Home Finance Fixed Deposit are:

  • Deposit Amount : ICICI Home Finance FD can be opened with an amount as a low ₹ 10 to up to No Limit.
  • FD Tenure : Ranges between 12 months to 120 months.
  • Interest Rate Range : 4.30% p.a. to 6.45% p.a.
  • Senior Citizens FD Rate : 4.55% p.a to 6.70% p.a.
  • Highest Interest Rate : As per today’s rate, ICICI Home Finance’s highest interest rate on FD is 6.45% offered for a tenure of 120 months.
  • Safety of ICICI Home Finance Deposits : ICICI Home Finance is a HFC and hence, its deposits are not covered under insurance. However, deposits of HFC are rated by rating agencies, which give a good understanding of your savings. AAA or AA rated deposits are considered have the highest safety
  • Loan against FD : As per the policy of ICICI Home Finance. To be confirmed at the time of opening a FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Fixed Deposits

ICICI Home Finance FD Interest Rates Today

Interest rates on ICICI Home Finance deposits are updated regularly by the Government of India. The following are updated ICICI Home Finance FD interest rates 2021:

Tenure Interest Rate
12 months to 23 months 29 days 4.30%
24 months to 35 months 29 days 5.55%
36 months to 47 months 29 days 5.95%
48 months to 60 months 6.20%
60 months to 72 months 6.25%
72 months to 120 months 6.45%

ICICI Home Finance FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, ICICI Home Finance offers a higher interest rate to senior citizens than the general public. Listed below are the ICICI Home Finance fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
12 months to 23 months 29 days 4.55%
24 months to 35 months 29 days 5.80%
36 months to 47 months 29 days 6.20%
48 months to 60 months 6.45%
60 months to 72 months 6.50%
72 months to 120 months 6.70%

Best FD Plan as per ICICI Home Finance FD Rates

To invest in ICICI Home Finance fixed deposit, you must compare ICICI Home Finance Fixed Deposit Rates for varying tenures. ICICI Home Finance FD Interest Rates 2021 are best for the deposits with a tenure of 72 months to 120 months, wherein the current ICICI Home Finance Fixed Deposit Interest Rates is 6.45 p.a.

If you are looking to invest in short term deposits with ICICI Home Finance, the interest rate of ICICI Home Finance for FD ranges from 4.30% p.a. to % p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term ICICI Home Finance Fixed Deposit Rates for senior citizens range from 4.55% to % p.a.

Below-mentioned is some of the benefits of opening an FD account in ICICI Home Finance:

  • Interest on deposit is paid only at the time of the maturity
  • ICICI Home Finance also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

Documents required to open Fixed Deposit Account in ICICI Home Finance

  • Application form and full KYC documents required
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

ICICI Home Finance Fixed Deposit Rates – Premature Withdrawal

You can close your ICICI Home Finance FD account prematurely, however ICICI Home Finance charges a penalty of 1 for premature withdrawal. Also, The penal provisions for premature closure on ICICI Home Finance FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit ICICI Home Finance

ICICI Home Finance offers loans up to 75% against its own deposit. Note that ICICI Home Finance will not give you loan against FD of any other bank. ICICI Home Finance offers Loan against FD at the rate of 5.3% to 7.45%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in ICICI Home Finance. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 75% against his FD at 10% interest rate. Now, if the borrower draws ₹ 75,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 75,000 available for 1 month only. The amount he repays after 1 month is ₹ 75,000. So, the interest charged on the loan taken is ₹ 0.

FD Account Opening Process at ICICI Home Finance

To open an ICICI Home Finance Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of ICICI Home Finance and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the ICICI Home Finance FD after reading the terms and conditions.

To open a Fixed Deposit account in ICICI Home Finance, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the ICICI Home Finance FD after reading the terms and conditions.

Nomination Facility on ICICI Home Finance FD

ICICI Home Finance also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an ICICI Home Finance FD account. The nominee has to submit his/her identification proof at the time of claim.

ICICI Home Finance Fixed Deposit Scheme

Fixed Deposits

Description:

  • ICICI Home Finance offers FD to their customers to park their surplus savings for a fixed tenure. Under this, customer is required to make a lumpsum deposit once into their FD account at the time of opening of the account. It is a safe and secure investment and offers an attractive interest rate.
  • AAA ratings by CRISIL, ICRA and CARE
  • Online Paperless process
  • Option to earn monthly interest
  • Additional interest rate of 0.25% to senior citizens
  • Loan against Fixed deposits available

Who is eligible?

  • Indian residents above the age of 18 years is eligible

FAQs

What is the highest fixed deposit interest rate for ICICI Home Finance?

You can earn a maximum interest of 6.45% on ICICI Home Finance fixed deposit.

Are there any special rates for senior citizens FD of ICICI Home Finance?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 4.30% to 6.45%. Compared to this, ICICI Home Finance senior citizens FD are in the range of 4.55% to 6.70%.

What are the current ICICI Home Finance FD interest rates 2021?

Current interest for FD in ICICI Home Finance ranges between 4.30% - 6.45%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with ICICI Home Finance?

The minimum deposit amount required to book an FD with ICICI Home Finance is ₹ 10.

Is it possible to change the tenure of my existing fixed deposit account with ICICI Home Finance?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with ICICI Home Finance without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in ICICI Home Finance?

Yes, you can submit your application for opening an FD account on the website of ICICI Home Finance. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in ICICI Home Finance?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 6.45%. For ICICI Home Finance FD the number of years in which your FD will get doubled is; 72/6.45 = 11

What is the interest of 1 lakh in the ICICI Home Finance?

The interest on ICICI Home Finance fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the ICICI Home Finance FD interest rate 2021 across different tenures.

TenureInterest Rate
12 months to 23 months 29 days 4.30%
24 months to 35 months 29 days 5.55%
36 months to 47 months 29 days 5.95%
48 months to 60 months 6.20%
60 months to 72 months 6.25%
72 months to 120 months 6.45%


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ICICI Home Finance News - Jul 2021
  • 2021-03-01 : ICICI Home Finance revised its FD rates
    With effect from 25 February 2021 ICICI Home Finance Revised its FD rates. The FD rate for 12 to 24 months is 4.30%, for 24 to 36 months it is 5.55% and stands at 5.95% for 36 to 48 months. Further, the rate for 48 to 60 months is 6.20%; for 60 to 72 months it is 6.25% and stands at 6.45% for 72 to 120 months.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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