ICICI Bank Corporate FD Scheme
The Icici Bank Corporate FD tenure ranges from min to max 5 Year 1 Months 7 Days . The ROI ranges from 5.25% to 6.80 % for the general public. The lock-in period for this scheme is 5 Year 1 Months 7 Days
Icici Bank Corporate FD Scheme for amount ranging from ₹ 10,000 to ₹ 2.0 Cr
The rate of interest for deposited amount ranging from ₹ 10,000 to ₹ 2.0 Cr is as below
Interest Rate for General Public (p.a.)
Interest Rates for Senior Citizens (p.a.)
|Upto 1 Year|
|Upto 3 Year|
|Upto 5 Year 1 Months 7 Days|
Key features of Icici Bank Corporate FD Scheme
Summary of Icici Bank Corporate FD Scheme features :
|Mutual Fund Schemes|
AAA CRISIL Rating
5 Year 1 Months 7 Days
|Loan Against FD|
Upto 5 Year 1 Months 7 Days
5.25% to 6.80 %
5.50% to 7.05 %
Rs.10,000 to Rs.200,00000
*Interest rates are subject to change at the discretion of the bank. These Interest rates are with effect from 10 November 2021.
Corporate FD Scheme
Out of the various capital gain instruments, fixed deposits have proved to be the most popular choice in India. Moreover, all the private banks and NBFCs require specialized permissions from the Reserve Bank of India to facilitate the fixed deposit scheme with a specified interest rate and duration for its customers. These specially permitted schemes, commonly known as Corporate Fixed Deposits, are paving the way for individuals to rely on a future financial cushion. Considering the dynamic nature of the market and inflation, ICICI corporate FD scheme can be a safe option for generating a much-required future income. ICICI Corporate FD scheme can be availed as a regular income or in a cumulative method.
In this blog, read about how one can avail of the benefits of the ICICI bank corporate FD scheme.
What is an ICICI Bank Corporate FD Scheme?
ICICI Bank Corporate FD scheme is a financial product that offers a platform for its customers to park their monetary capital. In return, they will get an appreciated capital with accrued interest. The customers can choose the payout preference in differing frequency and cumulation. With the ICICI bank corporate FD scheme, users will have access to all the corporate FDs they can analyze and invest in.
Corporate FD Interest Rates
ICICI Bank Corporate FD rates are as mentioned below. These are applicable with effect from July 22, 2022.
|7 - 14 days||2.75%||3.25%|
|15 - 29 days||2.75%||3.25%|
|30 - 45 days||3.25%||3.75%|
|46 - 60 days||3.25%||3.75%|
|61 - 90 days||3.25%||3.75%|
|91 - 120 days||3.75%||4.25%|
|121 - 150 days||3.75%||4.25%|
|151 - 184 days||3.75%||4.25%|
|185 - 210 days||4.65%||5.15%|
|211 - 270 days||4.65%||5.15%|
|271 - 289 days||4.65%||5.15%|
|9 months to 1 year||4.65%||5.15%|
|1 year - 13 months||5.35%||5.85%|
|13 - 15 months||5.35%||5.85%|
|15 - 18 months||5.35%||5.85%|
|18 months to 2 years||5.35%||5.85%|
|2 years 1 day to 3 years||5.50%||6.00%|
|3 years 1 day to 5 years||5.70%||6.20%|
|5 years 1 day to 10 years||5.75%||#6.50%|
|5 Years (80C FD) – Max to `1.50 lac||5.70%||6.20%|
Eligibility Criteria for Corporate FD Scheme
There are some parameters that customers need to adhere to for availing benefits of ICICI bank corporate FD scheme. They are as follows.
- Any individuals, NRIs, or senior citizens can apply
- Should possess a valid PAN card and address and residence proof.
- The applicant should be at least 18 years or above. In the case of minors, a legal guardian's guidance is mandatory.
Applying for an ICIC bank Corporate FD scheme will require applicants to submit certain documents. These are for identification and address verification purposes. Applicants can submit the following documents.
Identification Proof can include
- Valid Passport
- Driving Licence
- Voter ID
- NREGA Job Card
- Aadhaar Card
Address Proof can include
- Valid Passport
- Driving Licence
- Voter ID
- NREGA Job Card
- Aadhaar Card
- Electricity or utility bills not older than two months
- Property Tax Bill or Municipal Tax receipt, not older than one year
- Letter of Allotment for accommodation
Features & Benefits Corporate FD Scheme
Some of the benefits and features of ICICI bank corporate FD scheme are as listed below.
- With Corporate FD ICICI, investors benefit from a wide range of tenures
- An array of investment options across companies.
- Interface suitable for analysing and assessing the bond and FD options available.
- Premature withdrawal possible with conditions
- Auto-renewal options available
- Cheque-clearing system in place
- Customers will have the option to select how they are going to be paid. They can choose monthly payouts or cumulative payouts.
How to Apply for ICICI Bank Corporate FD
Much like regular fixed deposits, corporate FDs allow investors to create future wealth with minimal risk. With ICICI Direct, one can invest and monitor the progress of the Corporate FD of ICICI bank. One can apply for ICICI corporate FD through ICICI Direct portal. The interested applicant must create a user ID to register contact details. Once the email and contact number are verified, users can proceed to buy corporate FD ICICI from the portal. Here is how one can invest.
- Go to the official website of ICICI Direct
- Log in with your credentials.
- Head over to the FD/Bonds webpage
- The list of Corporate Fixed Deposits will appear
- Choose the ones that you find suitable for your needs
- Fill in details such as Issuer, scheme, tenure, options, and investment account details.
- Add a nominee
- With Form 15G/H, you can also choose to avail of TDS benefits
- Check the Senior Citizen option if applicable
- Invest a sufficient amount, and you can get started
Download ICICI Bank Corporate FD Application Form
To begin investing in an ICICI bank corporate FD scheme, one has to fill an interest form for the bank to verify and register the applicant’s details. This form will help the bank for bookkeeping purposes and also assists the bank in providing quality services to its customers. However, downloading an ICICI bank corporate FD application form is unnecessary, giving individuals the option to create an account online from the ICICI Direct Portal simply. That will give them access to all the FDs and bonds they can invest in. Alternatively, when visiting an ICICI bank branch, users will be handed over an application form in which they will have to disclose their personal details and bank details to proceed with their application.
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What is a corporate fixed deposit?
A corporate fixed deposit is a specialised FD scheme wherein banks get a permit from the Reserve Bank of India to roll out for the customers. Much like regular FDs, corporate FD also has a fixed tenure.
What is the difference between FD and corporate FD?
Fixed deposits are schemes offered by various public sector and private sector banks with a lumpsum contribution from the investor. However, corporate FDs are offered mainly by private banks and NBFCs with regulations from the RBI.
Is it reasonable to invest in ICICI Bank Corporate FD?
ICICI bank corporate FD scheme offers an array of company FDs that users can invest in. Users can monitor and track the progress from ICICI Direct portal as well.
Is there tax on ICICI Bank Corporate FD?
The FD returns from ICICI bank corporate FD scheme are taxable. However, with a form 15 G/H, one can avail of tax and TDS benefits.