ICICI Fixed Deposit, documents required icici fixed deposit, Benefits of ICICI Fixed Deposit, ICICI Fixed Deposit Plans:
Fixed deposit (or FD) is basically an instrument of banks which provides a high rate of interest to the investor than on a normal savings account, until the given maturity date.
Minimum Balance Required: The minimum deposit required for ICICI Fixed Deposit is Rs.10,000/- but for minors it is Rs.2000/-.
Interest Rate: The interest rate basically depends upon the tenure of the FD. To know it more you can visit http://www.icicibank.com/interest-rates.page
ICICI Bank Fixed Deposit Plans: There are 2 investment plans to select from:
- Traditional Plan: In traditional plan you can earn interest on monthly/quarterly basis as you wish and with a maturity period ranging from 7 days to 10 years.
- Reinvestment Plan: In Reinvestment plan you can earn interest i.e. compounded quarterly & reinvested with the principal amount and the maturity period ranging from 6 months to 10 years.
Liquidity: Make withdraw before the maturity in multiples of 1000 subject to the charges applicable, get a loan or overdraft upto 90% of your FD sum & choose monthly or quarterly payouts.
Benefits of ICICI Fixed Deposit:
- An extensive variety of tenures, from 7 days to 10 years, to suit your investment
- Premature withdrawl is allowed in multiples of 1000, as mentioned above. And earn original rate of interest on the left amount.
- Auto renewal facility
- Loan facility upto 90% of the principal and interest accrued
Documents required for opening an ICICI Fixed Deposit Account:
Firstly, a resident Indian is eligible for it.
For ID Proof:
- Passport
- PAN card
- Voter ID card
- Driving licence
- Government ID card
- Photo ration card
- Senior citizen ID card
For Address proof:
- Passport
- Telephone bill
- Electricity bill
- Bank Statement with Cheque
- Certificate/ ID card issued by Post office
Note: Any other Id proof or Address proof document can be submitted, subject to the Bank’s satisfaction.
Nomination Facility on FD: Yes, you can appoint a nomination for the Fixed Deposit but it must be single and for the nomination the applicant id required to fill the form specified in the Banking Companies (Nomination Rules), 1985.
TO apply for ICICI Fixed Deposit please click http://www.icicibank.com/Personal-Banking/account-online/fixed-deposit/fixed-deposit.page?