ICICI FD Review for Resident Indians and NRIs:| North Loop Official Blog
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04 Sep 2020

ICICI FD Review for Resident Indians and NRIs:

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ICICI Bank- Background and Overview-

ICICI Bank is an Indian multinational banking and financial services company. It is one of the biggest private sector banks in the country and has it’s registered corporate office in Mumbai, Maharashtra. ICICI Bank currently has a network of 5,324 branches and 15,688 ATMs across India. It also focuses on human and economic development at a national level. The Bank works closely with ICICI Foundation across diverse sectors and programs.

ICICI bank caters to Indian residents as well as Non-Resident Indians, offering various services such as Mutual Funds, Insurance, Fixed Deposits, and various other services.

ICICI FD interest rates-

Before learning about ICICI bank FD rates, it is essential to learn about the entire concept of Fixed Deposits.
Fixed Deposits are investment schemes offered by a plethora of banks around the world. A fixed interest rate is offered on deposits when locked-in with a bank for a fixed period of time.
These fixed tenures vary depending on the bank and the rate of interest varies in accordance with the duration of the lock-in tenure. Conventionally, banks offer a lock-in tenure ranging from 1 year and it goes all the way up to 10 years. The returns can either be collected on a regular basis or entirely at maturity.
Given Below are the ICICI bank fixed deposit rates for Indian residents and Non-Resident Indians(NRI)s
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ICICI Fixed Deposit Interest Rates for Indian Residents-

Fixed deposit tenures vary from 7-14 days all the way up to 10 years in the case of Indian Residents.

Interest rates on Domestic, NRO & NRE deposits(Less than ₹ 5 crore)
Maturity PeriodInterest rates (per cent per annum) w.e.f. August 07, 2020Interest rates (per cent per annum) w.e.f. September 02, 2020
GeneralSenior CitizenGeneralSenior Citizen
7 days to 14 days2.50%3.00%2.50%2.50%
15 days to 29 days2.50%3.00%2.50%2.50%
30 days to 45 days3.00%3.50%2.75%2.75%
46 days to 60 days3.00%3.50%2.75%2.75%
61 days to 90 days3.00%3.50%3.00%3.00%
91 days to 120 days4.00%4.50%3.00%3.00%
121 days to 184 days4.00%4.50%3.00%3.00%
185 days to 210 days4.40%4.90%3.50%3.50%
211 days to 270 days4.40%4.90%3.50%3.50%
271 days to 289 days4.40%4.90%3.65%3.65%
290 days to less than 1 year4.50%5.00%3.65%3.65%
1 year to 389 days5.00%5.50%3.75%3.75%
390 days to < 18 months5.00%5.50%3.75%3.75%
18 months to 2 years5.10%5.60%3.75%3.75%
2 years 1 day to 3 years5.10%5.60%4.25%4.25%
3 years 1 day to 5 years5.35%5.85%4.25%4.25%
5 years 1 day to 10 years5.50%6.30%4.25%4.25%
5 Years (80C FD) – Max to ₹ 1.50 lac5.35%5.85%NANA

ICICI Fixed Deposit Interest Rates for Non-Resident Indians-

Fixed deposit tenures vary from 1 year all the way up to 10 years in the case of Non-ResidentIndians.

Interest rates (percentage per annum) with effect from Aug 7th, 2020
Maturity PeriodLess than INR 20.0 Million
1 year to 389 days5.00%
390 days < 18 months5.00%
18 months up to 2 years5.10%
2 years 1 day up to 3 years5.10%
3 years 1 day up to 5 years5.35%
5 years 1 day up to 10 years5.50%

ICICI Bank FD- Eligibility Criteria-

NRI: You are eligible if you are a non-resident individual of Indian nationality or of Indian origin.

Below are the individuals and groups eligible for a Regular Fixed Deposit-
Indian citizens,Hindu undivided families (HUF), Trusts, Associations, Societies, Clubs

ICICI Bank FD- Documentation-

Indian Residents-
  • Passport
  • PAN card
  • Voter ID card
  • Driving license
  • Government ID card
  • Government ID card
  • Photo ration card
  • Senior citizen ID card


Address proof:

  • Passport
  • Telephone bill
  • Electricity bill
  • Bank Statement with Cheque
  • Certificate/ ID card issued by Post office


NRI-

Self-attested photocopies of:
  • Passport: First and last four pages of the passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, and signature).
  • Valid work permit/employment visa/Residence Visa/Residence Permit.


  • Address Proofs:

    • Utility Bills (Not more than 2 months old of any service provider. Only electricity, telephone, postpaid mobile phone, water bill, and piped gas bill shall be accepted.
    • Bank account statements (Not older than 3 months - for a period of 45 days with minimum 1 customer induced transaction)
    • Driving License having holder's name, date of birth, address, photo & the expiry date

ICICI FD Rates- Reviews:

Given above are the compiled list of user reviews of the Fixed Deposit schemes offered by ICICI Bank.
What can be inferred from the above is that a lot of people choose ICICI Bank because of their diverse variety of lock-in periods and their competitive interest rates. But in terms of customer service, they may not be the best and as per observation, it can be seen that their investment schemes are alluring but their customer service is not up to the mark. Nevertheless, for those who want high flexibility with regards to fixed deposits, ICICI just might be the best choice.

North Loop provides a top-notch platform for investments in Fixed Deposits. North Loop offers competitive interest rates for Indian Residents and Industry-leading interest rates for NRIs with bare minimal documentation, swift and seamless account opening procedure, minimal and transparent fees, and an option of overdraft up to 80%. For the ones taking a call on this, North Loop is the best in the industry for you.
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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.