• ICICI Bank is now authorized to accept deposits under Capital Gains Account Scheme (CGAS), 1988
  •  
  • This is a government-notified scheme under the Income Tax Act, 2025
  •  
  • The scheme enables customers to temporarily park sale proceeds or long term capital gains arising from the sale of certain assets, when they intend to reinvest in eligible assets such as residential property or land
  •  
  • This scheme is available from 1st Jan, 2026

Key features of Capital Gains account scheme

  • Flexibility to open Savings Account and Fixed Deposit

  • Allows period of 2-3 years from date of sale to reinvestment

  • Earn interest at the Bank’s applicable Savings Account or Term Deposit rates

  • Available at all branches (except rural branches)⁠

 

 

 

 

 

Important documentation:

Applicable for both Savings Account (Type A) and Fixed Deposit (Type B)

 

  • Capital Gains Accounts Scheme application form (Form A)
  • Form E for nomination in case the customer wants to register a nomination

 

Click here for service charges for Individual customers

Important points to note:

  • Customer must declare the purpose as purchase or construction at the time of account opening

  • ICICI Bank Savings Account / Current Account is mandatory to avail this scheme

  • New customers are required to open ICICI Bank Savings Account for availing this scheme

  • Unused funds after expiry become taxable.

  • In case of jointly owned assets, each co-owner must open a separate CGAS account corresponding to their share of capital gains

  • Form C is mandatory for the first withdrawal while Form D is required for all subsequent withdrawals 

  • Scheme related forms are available at ICICI Bank branches

Capital Gains Account Scheme FAQs

What types of accounts can be opened under Capital Gains Account Scheme?

Savings Account (Type A) is mandatory. You can park your proceeds/capital gains in a Savings Account (Type A) and Fixed Deposit (Type B).

Can a new customer avail Capital Gains Account Scheme?

Yes, new customers can avail this scheme by opening an ICICI Bank Savings Account / Current Account

Can a Current Account be opened under Capital Gains Account Scheme?

No. Only Savings (Type A) and Term Deposit (Type B) accounts are permitted.

What is the minimum and maximum tenure for FD under Capital Gains Account Scheme?

Cumulative FD:

  • Minimum 6 Months and Max 24 months from the date of Sales Deed with end purpose as purchase of property
  • Minimum 6 Months and Max 36 Months from the date of Sales Deed with end purpose as construction of property

Traditional FD:

  • Minimum 7 days and Max 185 Days.
  • Traditional Quarterly: Minimum 3 Months and Max 24 months from the date of Sales Deed with end purpose as purchase of property
  • Minimum 3 Months and Max 36 Months from the date of Sales Deed with end purpose as construction of property

Which services are not available under Capital Gains Account Scheme?

Following services will not be available

  • Cheque Book
  • Debit Card

Is premature FD closure allowed? 

Yes. But only in accordance with the Capital Gains Account Scheme and the Bank’s FD premature closure policy. Penalty will be same as per Bank’s FD framework

Is Form A required for every deposit?

No. Required only for initial deposit.

Can multiple accounts be opened under Capital Gains Account Scheme?

Yes, for different exemption sections

Can Capital Gains Account Scheme be transferred between banks?

No. CGAS cannot be transferred between banks

What is the maximum tenure of deposit under Capital Gains Account Scheme?

Maximum Tenure (2 or 3 years) is as per the purpose and sections of the Income Tax Act 2025

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