Fixed Deposit (FD): Invest Smartly & Safely

An FD is an investment offered by banks and Non-Banking Financial Companies (NBFCs) that provides assured returns based on the interest rate at the time of account opening. Interest rates vary depending on the deposit amount and tenure.

• Traditional Fixed Deposit: Interest is paid regularly (monthly or quarterly) as chosen during the account setup.
• Cumulative Fixed Deposit: Interest is compounded quarterly and paid as a lump sum on maturity.

The ‘reverse sweep’ feature from ICICI Bank automatically transfers funds from a linked Fixed Deposit (FD) to your Savings Account when the balance in your Savings Account is low. This ensures that the transactions in your Savings Account continue, without having to break your FD manually. It’s a convenient way to access funds during emergencies while keeping your FD intact as much as possible.

Yes, auto-renewal can be selected at the time of opening the FD or before maturity. The FD will renew for the same tenure as the original and at the interest rate applicable at the time of renewal.

Yes, existing ICICI Bank customers can open an FD through Net Banking or ICICI Bank's iMobile app. They can also open an FD (of amount below ₹50,000) at any ICICI Bank ATM. New customers need to visit a branch.

Fixed Deposits can be opened for flexible tenures, ranging from 7 days to 10 years.

The monthly income FD allows you to get your FD interest in the form of monthly payouts. The principal (FD amount) is paid to you once the FD matures. It is an easy way to get consistent income every month.