ICICI Bank FD Calculator
ICICI Fixed Deposit Interest Rates on Domestic/NRO/NRE Deposits of less than Rs 2 crore - General Citizens
| Tenure | Interest rate p.a. (General citizens) |
|---|---|
| 7 days to 14 days | 2.75% |
| 15 days to 29 days | 2.75% |
| 30 days to 45 days | 3.25% |
| 46 days to 60 days | 3.25% |
| 61 days to 90 days | 3.25% |
| 91 days to 120 days | 3.75% |
| 121 days to 150 days | 3.75% |
| 151 days to 184 days | 3.75% |
| 185 days to 210 days | 4.65% |
| 211 days to 270 days | 4.65% |
| 271 days to 289 days | 4.65% |
| 290 days to less than 1 year | 4.65% |
| 1 year to 389 days | 5.50% |
Note: The FD interest rates are effective as of 19 August 2022.
ICICI Fixed Deposit Interest Rates on Domestic/NRO/NRE Deposits of less than Rs 2 crore - Senior Citizens
| Tenure | Interest rate p.a. (Senior citizens) |
| 7 days to 14 days | 3.25% |
| 15 days to 29 days | 3.25% |
| 30 days to 45 days | 3.75% |
| 46 days to 60 days | 3.75% |
| 61 days to 90 days | 3.75% |
| 91 days to 120 days | 4.25% |
| 121 days to 150 days | 4.25% |
| 151 days to 184 days | 4.25% |
| 185 days to 210 days | 5.15% |
| 211 days to 270 days | 5.15% |
| 271 days to 289 days | 5.15% |
| 290 days to less than 1 year | 5.15% |
| 1 year to 389 days | 6.00% |
| 390 days to < 15 months | 6.00% |
| 15 months to < 18 months | 6.00% |
| 18 months to 2 years | 6.00% |
| 2 years 1 day to 3 years | 6.10% |
| 3 years 1 day to 5 years | 6.60% |
| 5 years 1 day to 10 years | 6.60% |
Note: The FD interest rates are effective as of 19 August 2022.
Fixed Deposit Interest Rates on Domestic/NRO/NRE Deposits of Rs. 2 Crore to less than Rs. 5 Crore
| Tenure | Interest rate p.a. (General citizens) |
| 7 days to 14 days | 3.50% |
| 15 days to 29 days | 3.50% |
| 30 days to 45 days | 3.60% |
| 46 days to 60 days | 4.00% |
| 61 days to 90 days | 4.75% |
| 91 days to 120 days | 5.25% |
| 121 days to 150 days | 5.25% |
| 151 days to 184 days | 5.25% |
| 185 days to 210 days | 5.50% |
| 211 days to 270 days | 5.50% |
| 271 days to 289 days | 5.70% |
| 290 days to less than 1 year | 5.70% |
| 1 year to 389 days | 6.05% |
| 390 days to less than 15 months | 6.05% |
| 15 months to less than 18 months | 6.05% |
| 18 months to 2 years | 6.05% |
| 2 years 1 day to 3 years | 6.05% |
| 3 years 1 day to 5 years | 6.05% |
| 5 years 1 day to 10 years | 5.90% |
Note: The FD interest rates are effective as of 14 September 2022.
ICICI Fixed Deposit Interest Rates on Domestic/NRO/NRE Deposits of less than Rs 2 crore - Senior Citizens
| Tenure | Interest rate p.a. (Senior citizens) |
| 7 days to 14 days | 3.50% |
| 15 days to 29 days | 3.50% |
| 30 days to 45 days | 3.60% |
| 46 days to 60 days | 4.00% |
| 61 days to 90 days | 4.75% |
| 91 days to 120 days | 5.25% |
| 121 days to 150 days | 5.25% |
| 151 days to 184 days | 5.25% |
| 185 days to 210 days | 5.50% |
| 211 days to 270 days | 5.50% |
| 271 days to 289 days | 5.70% |
| 290 days to less than 1 year | 5.70% |
| 1 year to 389 days | 6.05% |
| 390 days to less than 15 months | 6.05% |
| 15 months to less than 18 months | 6.05% |
| 18 months to 2 years | 6.05% |
| 2 years 1 day to 3 years | 6.05% |
| 3 years 1 day to 5 years | 6.05% |
| 5 years 1 day to 10 years | 5.90% |
Note: The FD interest rates are effective as of 14 September 2022.
ICICI Bank Tax Saver Deposit - General Public
| Tenure | Interest rate p.a. (General citizens) |
| 5 years Tax-Saver 80C FD | 6.10% |
ICICI Bank Tax Saver Deposit - Senior Citizens
| Tenure | Interest rate p.a. (Senior citizens) |
| 5 years Tax-Saver 80C FD | 6.60% |
FCNR Fixed Deposit Interest Rates w.e.f. 13 September 2022
| Currency | USD (Less than Rs 3.5 lakh) | USD (More than Rs 3.5 lakh) | GBP | CAD | AUD | SGD | HKD |
| 12 months to less than 24 months | 3.35 | 3.65 | 2 | 2 | 2 | 1.5 | 2 |
| 24 months to less than 36 months | 2.5 | 2.5 | 1.5 | 1.5 | 1.5 | 1 | 1.25 |
| 36 months to less than 48 months | 2.5 | 2.5 | NA | NA | NA | NA | NA |
| 48 months to less than 60 months | 2.5 | 2.5 | NA | NA | NA | NA | NA |
| 60 months | 2.5 | 2.5 | NA | NA | NA | NA | NA |
Note: The FD interest rates are effective as of 13 September 2022.
RFC FD Interest Rates
| Currency | USD | GBP |
| 30 days to less than 6 months | 0.3 | 0.01 |
| 6 months to less than 1 year | 0.45 | 0.15 |
| 12 months to less than 24 months | 3.25 | 1.25 |
| 24 months to less than 36 months | 2.5 | 1.5 |
| 36 months | 2.5 | NA |
Note: The FD interest rates are effective as of 17 August 2022.
Premature Withdrawal of Fixed Deposits – Penalty Charges
| Original Tenure of Deposit | Deposits of less than Rs 5 crore | Deposits of Rs 5 crore & above |
| Less than 1 year | 0.50% | 0.50% |
| 1 year & above but less than 5 years | 1.00% | 1.00% |
| 5 years and above | 1.00% | 1.50% |
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ICICI Bank FD Calculator
Any Indian citizen can start investing in an ICICI fixed deposit with an initial amount of ₹10,000. With ICICI Bank, you can invest in six types of fixed deposit schemes. Apart from regular FDs, you can also earn attractive interest on tax-saving schemes, money multipliers, monthly income options, etc.
Fixed deposits can be great investment options that can help you plan your financial goals efficiently. However, for efficient financial planning, you can determine the FD interest that you’d receive on maturity. In this regard, an online ICICI Bank FD calculator would prove to be beneficial.
Let’s learn more about it!
ICICI Fixed Deposit (FD)
General citizens can get a maximum of 7% fixed deposit rates at ICICI Bank for investments below ₹2 crore. However, the minimum interest rate is 3%. Besides, senior citizens can earn an additional 0.50% interest on these rates. The rate of interest will vary on the chosen tenure. Higher tenure means higher interest rates.
Calculating the interest and maturity amount manually can be hectic. If you want to determine the FD interest and maturity amount, consider using an online FD calculator. An ICICI FD calculator is designed for easy interest calculations without much turn-around time. You can find the maturity amount for a given tenure by entering your estimated investment amount, interest rate and tenure into the calculator and invest accordingly.
Here’s more about the calculation procedure!
How Does the ICICI FD Calculator Work?
With ICICI fixed deposit calculator, you can compute the accurate interest amount in easy steps. Here’s how you can calculate the FD maturity amount with this online tool:
1. Drag the purple dot across the line under ‘Total Investment’ tab until your estimated investment amount is displayed on the box. You can also manually enter the amount.
2. Enter the investment tenure on ‘Number of years’ box the same way.
3. Fill in the ‘Interest Rate’ box with the appropriate rate.
4. You can view the ‘Estimated Return’, and ‘Total Value’ on the right side of the page.
Computing your FD interest using an ICICI fixed deposit calculator is super-fast and easy, with zero risk of miscalculation. All you need to do is enter the correct figures in the right box for an error-free calculation.
The interest amount on your ICICI FD is calculated in two ways: simple interest and compound interest. Simple interest formula is used generally for FDs that mature within 1 year.
Take a look at both formulas:
Simple interest
M= P+ (PXRXT/100)
Here, “M” is the total amount you receive on FD maturity
“P” is principal amount, i.e., the amount you invest in fixed deposits
“R” represents ICICI Bank fixed deposit rates
“T” is the total number of years you invest in FD
Compound interest
A = P (1 + r/n) ^ n*t
In the above formula, “A” represents the maturity amount
“P” stands for your investment amount
“r” denotes the annual rate of interest
“n” stands for the number of times interest is compounded
“t” represents the investment term in years
Here is an example to explain about compound interest FD calculation:
Ritu invested ₹10,000 for a tenure of 4 years at a rate of 6.9%, compounded annually.
According to the compound interest formula, A = P (1 + r/n) ^ n*t”
P = 10,000
r = 6.9%
n = 1
t = 4
So, A = 10,000 (1 + 6.9%/1) ^ 1*4
A= 13,147
So, Ritu earns an interest of ₹13,147 – ₹10,000 = ₹3,147.
Benefits of An Online ICICI Bank FD Calculator
The benefits of an ICICI FD calculator are not limited to easy and fast calculations only. Here’s more about the advantages of this online tool:
- Using this calculator, you can adjust the interest rates, the tenure and investment amount to find a suitable FD scheme that can align with your financial plans.
- It is a free tool. So, you can calculate the results without paying a single penny. Besides, this tool is safe. This is because it does not require your personal details to show the results.
- You can access this tool at any time. All you need is a stable internet connection and a smart device.
If you plan to invest in ICICI Bank FDs, choose the Upstox ICICI fixed deposit calculator. You get access to a user-friendly interface for seamless calculation. You can compute the interest on your fixed deposit conveniently and take better financial decisions.
Frequently Asked Questions
What is the minimum amount of investment for FDs in ICICI Bank?
The minimum investment amount for ICICI Bank FD is ₹10,000 for adults and ₹2,000 for minors.
Do we have a premature withdrawal facility on ICICI FD?
ICICI Bank offers a premature withdrawal facility for fixed deposits of ₹5 crores and above. However, for fixed deposits of ₹2 crores and above, no premature withdrawal is applicable.
What is the penalty for early withdrawal in ICICI FD?
ICICI charge a penalty of 0.50% for withdrawing FDs that have an original tenure of less than 1 year. For FDs of less than ₹5 crore with tenure above 1 year but less than 5 years is 1%.
Are there any special rates for senior citizens?
Senior citizens are eligible for an additional 0.50% interest on the rates applicable to general citizens.
Who are eligible to open an ICICI Bank fixed deposit account?
Any Indian citizen can open an FD account in ICICI Bank.
In how many years has FD doubled in ICICI Bank?
You can calculate the years required to double the FD amount in ICICI bank by using the rule of 72. As per the rule, you need to divide 72 by the interest rate you are eligible for concerning the chosen tenure. For instance, suppose ICICI offers you an interest rate of 7.05% on your fixed deposit amount. So, applying the rule of 72 (72/7.05), it will take 10.21 years to double the FD amount.
Can an ICICI Bank FD account be closed online?
Yes, you can close an ICICI Bank FD account online if you have an internet banking facility.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.