ICICI Bank’s particular fastened deposits scheme goes to finish on October 7. Under the scheme, the financial institution gives an extra rate of interest of 0.10% on FDs above 5 years tenure. The price is relevant on recent FDs in addition to renewed ones in the course of the scheme interval. However, the scheme is out there solely on FDs lower than ₹2 crore.
ICICI Bank has been giving further price advantages to senior residents via its scheme ‘Golden Years FD Interest Rates’. The newest revision within the scheme has come into impact from September 30, 2022.
With impact from September 30, ICICI Bank gives a 6% price to most of the people on FDs under ₹2 crore maturing from 5 years 1 day to 10 years. To senior residents, the financial institution gives 6.60% on the identical tenure.
Meanwhile, ICICI Bank gives between 3% to six.10% to most of the people on tenures from 7 days to five years. The price is between 3.50% to six.6% on these tenures for senior residents.
The minimal quantity to open an FD account at ICICI Bank is ₹10,000 crore. However, notably, FD rates of interest can be topic to Tax Deducted at Source as per Income Tax Laws”(YEAR)”.
On its web site, underneath the Golden Years FD scheme, ICICI Bank stated, resident Senior Citizen prospects will get an extra rate of interest on an FD of 0.10% for a restricted time over and above the prevailing further price of 0.50% every year. The further price can be obtainable on recent deposits opened in addition to deposits renewed in the course of the scheme interval.
The eligible tenure within the scheme is 5 years 1 day to 10 years. The scheme is legitimate until October 7, 2022. While the scheme is relevant on a single FD opened via ICICI Bank of an quantity lower than ₹2crore.
In case of untimely withdrawal on FDs underneath the scheme, ICICI Bank acknowledged that in case Fixed Deposit is opened and the above scheme is prematurely withdrawn/closed after, on, or after 5 years 1 day, the relevant penal price can be 1.10%. While in case the deposit opened within the above scheme is prematurely withdrawn/closed earlier than 5 years 1 day, the prevailing untimely withdrawal coverage can be relevant.
A buyer can avail of a most tax deduction of ₹1,50,000 from taxable revenue via an ICICI Bank FD.
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