- 5 K
- 1 Cr
Investments To Returns Ratio:
ICICI Bank is one of India’s leading banks that offers a diversified range of products and services for corporate and retail customers. The bank also provides various fixed deposit options where customers can store their money for a fixed tenure. Among other fixed deposits in the market, ICICI Bank has one of the best offerings. But to determine which FD scheme will suit you better, you may need an ICICI FD calculator to compare different FD values and rates.
Since computing the maturity amount on your fixed deposit investment could be strenuous, using the ICICI Bank FD calculator could be helpful. As it provides results in a fraction of a second., and You have to worry about multiple variables involved.
ICICI Bank Fixed Deposit Features
ICIC Bank fixed deposit covers the following features and benefits:
Flexibility of Tenure
ICICI Bank fixed deposit renders a wide range of tenure from 7 days to 10 years to their customers. This doesn’t only offer greater flexibility, but users can also plan and implement their investment and financial goals according to the same.
Flexibility, Safety, and Liquidity
ICICI Bank fixed deposit is a safe investment choice rendering assured returns upon acquisition. Returns on ICICI FD aren’t affected by any of the external factors.
Option of Premature/Partial Withdrawal in Case of Any Urgent Funds’ Requirement
In emergencies, ICICI FDs are an extremely liquid investment product. It allows you to deposit entirely or partially before its maturity date and receive funds in your account for any emergency purposes and unforeseen expenses.
Extra 0.50% Interest Rate to Senior Citizen Customers
0.50% of additional interest rate is offered to senior citizen customers and above regular fixed deposit interest rates. This eventually helps customers gain higher interest rates on their investments and better plan their retirement goals.
The Automatic Renewal facility
The ICICI Bank allows you to open a fixed deposit account in auto-renewal mode. With auto-renewal, you will be assured that your FD is renewed for the same term upon maturity. This will be done automatically without human intervention causing no loss of interest.
Overdraft Facility against FD: Up to 90% on principal plus accrued interest.
The bank also features overdraft facilities against fixed deposits. Therefore, if you wish to avail of instant liquidity against FD without breaking it, this could be an excellent option.
What is an ICICI Bank Fixed Deposit Calculator?
An ICICI Bank FD rates calculator is an online tool used to calculate the maturity and interest amount of the FD upon its maturity. The calculator uses the applicable interest rate and chosen tenure to determine the values.
ICICI fixed deposit calculator is straightforward and free to use. All you have to do is to choose your customer profile. Furnish the selected FD investment value and entire your desired investment term and calculate.
Besides, you can also use the ICICI FD interest rates calculator to compare the maturity amounts for various interest rates and tenures.
How to Use the ICICI FD Calculator?
The ICICI Bank FD interest calculator is easy to use and very straightforward. You are simply required to choose whether you are a senior or general citizen or a group of employees. Enter required details like the FD investment amount, the investment tenure and your expected interest rate upon maturity. Select the frequency of interest payout.
Then, tap on calculate.
The ICICI FD calculator automatically uses the applicable interest rate and will provide you with the maturity amount and the total interest earned.
Formula to Determine ICICI Bank FD Returns
You can use the following mathematical formula to calculate the maturity amount:
A = P (1 + r/n)^n*t
- A = the maturity amount
- r = the annual rate of investment
- P = the sum of investment
- n = the number of times the interest applied would be compounded
- t = the term of the investment
The same formula is embedded in the ICICI AI-powered FD calculator.
ICICI Bank Fixed Deposit Interest Rates
ICICI Bank offers multiple fixed deposit schemes based on the interest rate and tenure. They are given below:
|Maturity Period||Interest Rates (per cent per annum) w.e.f. June 22, 2022, Single deposit of less than ₹20.0 million||Interest rates (per cent per annum) w.e.f. Aug 11, 2022, Single deposit of ₹20.0 mn & above but less than 50.0 mn|
|General||**Senior Citizen||General||**Senior Citizen|
|7 days to 14 days||2.75%||3.25%||3.25%||3.25%|
|15 days to 29 days||2.75%||3.25%||3.25%||3.25%|
|30 days to 45 days||3.25%||3.75%||3.35%||3.35%|
|46 days to 60 days||3.25%||3.75%||3.65%||3.65%|
|61 days to 90 days||3.25%||3.75%||4.50%||4.50%|
|91 days to 120 days||3.75%||4.25%||5.00%||5.00%|
|121 days to 150 days||3.75%||4.25%||5.00%||5.00%|
|151 days to 184 days||3.75%||4.25%||5.00%||5.00%|
|185 days to 210 days||4.65%||5.15%||5.25%||5.25%|
|211 days to 270 days||4.65%||5.15%||5.25%||5.25%|
|271 days to 289 days||4.65%||5.15%||5.50%||5.50%|
|290 days to less than 1 year||4.65%||5.15%||5.50%||5.50%|
|1 year to 389 days||5.35%||5.85%||5.75%||5.75%|
|390 days to < 15 months||5.35%||5.85%||5.75%||5.75%|
|15 months to < 18 months||5.35%||5.85%||5.75%||5.75%|
|18 months to 2 years||5.35%||5.85%||5.75%||5.75%|
|2 years 1 day to 3 years||5.50%||6.00%||5.75%||5.75%|
|3 years 1 day to 5 years||5.70%||6.20%||5.75%||5.75%|
|5 years 1 day to 10 years||5.75%||#6.50%||5.75%||5.75%|
|5 Years (80C FD) – Max to 1.50 lac||5.70%||6.20%||NA||NA|
Given below are the ICICI NRE fixed deposit rates and NRO FD rates with premature withdrawal facility of ₹ 5 crores and above.
|Single Deposit Tenure Period||Rate of Interest (% p.a.) w.e.f Aug 11, 2022|
|₹5.00 crore to < ₹5.10 crore||₹5.10 crore to < ₹24.90 crore||₹24.90 crore to < ₹25.00 crore||₹25.00 crore to < ₹100.00 crore||₹100.00 crore to < ₹250.00 crore||₹250.00 crore to < ₹500.00 crore||> = ₹500.00 crore|
|7 days to 14 days||3.25||3.25||3.25||3.25||3.25||3.25||3.25|
|15 days to 29 days||3.25||3.25||3.25||3.25||3.25||3.25||3.25|
|30 days to 45 days||3.25||3.35||3.25||3.35||3.35||3.35||3.35|
|46 days to 60 days||3.25||3.65||3.25||3.65||3.65||3.65||3.65|
|61 days to 90 days||3.25||4.5||3.25||4.5||4.5||4.5||4.5|
|91 days to 120 days||3.25||5||3.25||5||5||5||5|
|121 days to 150 days||3.25||5||3.25||5||5||5||5|
|151 days to 184 days||3.25||5||3.25||5||5||5||5|
|185 days to 210 days||3.25||5.25||3.25||5.25||5.25||5.25||5.25|
|211 days to 240 days||3.25||5.25||3.25||5.25||5.25||5.25||5.25|
|241 days to 270 days||3.25||5.25||3.25||5.25||5.25||5.25||5.25|
|271 days to 300 days||3.5||5.5||3.5||5.5||5.5||5.5||5.5|
|301 days to 330 days||3.5||5.5||3.5||5.5||5.5||5.5||5.5|
|331 days to < 1 year||3.5||5.5||3.5||5.5||5.5||5.5||5.5|
|1 year to 389 days||4.05||5.75||4.05||5.8||5.8||5.8||5.8|
|390 days to < 15 months||4.05||5.75||4.05||5.8||5.8||5.8||5.8|
|15 months to < 18 months||4.25||5.75||4.25||5.8||5.8||5.8||5.8|
|18 months to 2 years||4.25||5.75||4.25||5.8||5.75||5.75||5.75|
|2 years 1 day to 3 years||4.25||5.75||4.25||5.85||5.75||5.75||5.75|
|3 years 1 day to 5 years||4.25||5.75||4.25||5.75||5.75||5.75||5.75|
|5 years 1 day to 10 years||4.25||5.75||4.25||5.75||5.75||5.75||5.75|
Note: Interest rates are subject to change and it can be done without any prior notice.
Comparison of ICICI Fixed FD with Other Banks
Various banks and financial institutions offer multiple fixed deposit schemes. Some of them are enlisted below. Compare them between ICICI Bank and other institutions to see which scheme best fits your needs.
|Name of Bank||For General Citizens (p.a.)||For Senior Citizens (p.a)|
|ICICI Bank||2.75% to 5.75%||3.25% to 5.75%|
|State Bank of India FD||2.90% to 5.50%||3.40% to 6.30%|
|Kotak Mahindra Bank FD||2.50% to 5.90%||3.00% to 6.40%|
|IDBI Bank FD||2.70% to 5.75%||3.20% to 6.50%|
|HDFC Bank FD||2.75% to 5.75%||3.25% to 6.50%|
|Punjab National Bank FD||3.00% to 5.60%||3.50% to 6.10%|
|RBL Bank FD||3.25% to 6.65%||3.75% to 7.15%|
|Axis Bank FD||2.50% to 5.75%||2.50% to 6.50%|
|Canara Bank FD||2.90% to 5.75%||2.90% to 6.25%|
|IDFC First Bank FD||3.50% to 6.50%||4.00% to 7.00%|
|Bank of Baroda FD||2.80% to 5.35%||3.30% to 6.35%|
|Punjab and Sind Bank FD||3.00% to 5.40%||3.50% to 5.90%|
|Bank of India FD||2.85% to 5.20%||3.35% to 5.95%|
Note: Rates are subject to change. The interest rates are described above as of 11 August 2022.
Benefits of Using ICICI Fixed Deposit Calculator
The ICICI FD interest calculator is a free online tool for calculating a fixed deposit's interest and maturity amount. Therefore, before you choose any FD scheme, you want to use the ICICI Bank FD interest rates calculator to determine the return you may earn on an investment. Below are the benefits of using the ICICI bank FD rates calculator:
- Easy to use and straightforward
- It helps taxpayers to compute the precise maturity amount post TDS.
- It lets you create an investment portfolio in a hassle-free manner and instantly.
- The calculator helps you track your budget and investment portfolio better.
- You can use it to make better financial decisions.
- It assures you if your desired financial goals can be achieved or not.
- You can compare FD schemes of various tenures with different amounts and interest rates as many times as you want.
- The ICICI Bank FD rates calculator lets you calculate the compounding factors in interest rates.
- The calculator helps you avoid any human errors that may arise while using the formula to calculate values.
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Icici Bank's Ifsc Codes
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Frequently Asked Questions (FAQs)
What are the current ICICI FD interest rates?
The current ICICI fixed deposit rates are at 5.35% on maturity.
What is the interest of 1 lakh in ICICI Bank?
At an interest rate of 6.7% for 3 years, you will earn an interest of ₹ 21,477.
Which FD is better in ICICI Bank?
An FD between 5 years to 10 years of tenures could be a more ideal option as you stand to earn better interest on the principal amount.
Can I take a loan against a fixed deposit in ICICI bank?
Yes, you can get a loan against a fixed deposit in ICICI bank, but you must not withdraw your FD amount prematurely.
Can I withdraw my FD before maturity in ICICI?
No, ICIC bank does not allow premature withdrawal. However, if you have to withdraw the same under an emergency, there could be some charges to incur, and you will not get any interest.