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Updated 11 Jan 2024
ICICI Bank has various schemes to safeguard and better serve its senior citizen customers. Financial security is paramount as you age, and ICICI offers competitive interest rates for their senior citizens. Let’s look at the interest rates for senior citizen customers at ICICI Bank.
Senior Citizen FD Interest rates on Domestic, NRO & NRE deposits(Less than ₹5 Crore)
| Maturity Period | Interest rates (per cent per annum) w.e.f. October 16, 2023 Single deposit of less than ₹2 Crores | Interest rates (per cent per annum) w.e.f. January 11, 2024 Single deposit of ₹2 Crores & above but less than ₹5 Crores |
|---|---|---|
| 7 days to 14 days | 3.50% | 4.75% |
| 15 days to 29 days | 3.50% | 4.75% |
| 30 days to 45 days | 4.00% | 5.50% |
| 46 days to 60 days | 4.75% | 5.75% |
| 61 days to 90 days | 5.00% | 6.00% |
| 91 days to 120 days | 5.25% | 6.50% |
| 121 days to 150 days | 5.25% | 6.50% |
| 151 days to 184 days | 5.25% | 6.50% |
| 185 days to 210 days | 6.25% | 6.75% |
| 211 days to 270 days | 6.25% | 6.75% |
| 271 days to 289 days | 6.50% | 6.85% |
| 290 days to less than 1 year | 6.50% | 6.85% |
| 1 year to 389 days | 7.20% | 7.25% |
| 390 days to < 15 months | 7.20% | 7.25% |
| 15 months to < 18 months | 7.65% | 7.05% |
| 18 months to 2 years | 7.65% | 7.05% |
| 2 years 1 day to 3 years | 7.50% | 7.00% |
| 3 years 1 day to 5 years | 7.50% | 7.00% |
| 5 years 1 day to 10 years | #7.50% | 7.00% |
| 5 Years (80C FD) – Max to `1.50 lac | 7.50% | NA |
*Senior Citizens FD Interest rates are only applicable for domestic term deposits.
The eligibility criteria for the senior citizen FDs is that they need to be at least or above the age of 60 on the day of opening the FD account. They typically need to be residents to open a senior citizen FD; However, NRIs can also open accounts through NRE and NRO accounts.
The documentation required is similar to that of a normal FD account opening. One metric being essential is your age proof.
Identity Proofs
Address Proof
Age proof is mandatory to avail of a Senior Citizen FD account.
Can I open a joint Senior Citizen FD with a non-senior citizen?
Yes, but the primary account holder must be a senior citizen to avail of the senior citizen interest rate.
Is there a minimum or maximum deposit amount for Senior Citizen FDs?
The minimum and maximum deposit amounts are generally determined by the specific FD scheme chosen and are the same for both regular and senior citizens.
Can Senior Citizen FDs be broken before maturity?
Yes, but there may be a penalty or reduced interest rate for premature withdrawal.
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.
