ICICI HFC Fixed Deposit
HFC
AAA (Stable)
6.7%
Interest for 3 years
ICICI Housing Finance Company FD Interest Rates Oct 2022
Note: All interest rates shown below are as on 1st Oct 2022
| Tenure | Normal Citizen FD Rate | Senior Citizen FD Rate |
|---|---|---|
| 1 year - 1 year 5 months 28 days | 5.25% | 5.5% |
| 1 year 5 months 29 days - 1 year 11 months 28 days | 6% | 6.25% |
| 1 year 11 months 29 days - 2 years 11 months 28 days | 6.5% | 6.75% |
| 2 years 11 months 29 days - 4 years 11 months 28 days | 6.7% | 6.95% |
| 4 years 11 months 29 days - 6 years 11 months 27 days | 6.9% | 7.15% |
| 6 years 11 months 28 days - 9 years 11 months 27 days | 6.95% | 7.2% |
About ICICI HFC FD
ICICI Home Finance Company (ICICIHFC) is an Indian public limited housing finance company (HFC), headquartered in Mumbai with branches in major cities across India.The company operates as a wholly owned subsidiary of ICICI Bank. It has a balance sheet size of Rs. 15,028 Cr as on 31st March 2021. It recorded a profit of Rs 22 cr in FY21
5.25% - 6.95%
FD Rate
5.5% - 7.2%
FD Rate for Seniors
₹ 10000
Minimum Deposit
₹ 2 Crores
Maximum Deposit
days
-
FD Tenure
-
AAA (Stable)
Fixed Deposits
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ICICI HFC FD Returns Based on Investment Amount
| Investment Amount | For 3 years with interest of 6.7% | For 5 years with interest of 6.9% |
|---|---|---|
| ₹ 50,000 | ₹61097 | ₹70530 |
| ₹ 1 lakh | ₹122194 | ₹141060 |
| ₹ 2 lakh | ₹244388 | ₹282119 |
| ₹ 5 lakh | ₹610971 | ₹705298 |
| ₹ 10 lakh | ₹1221941 | ₹1410595 |
Compare ICICI Housing Finance Company Fixed Deposit Returns with Top Banks
Use FD calculator to change values and compare your returns from top banks.
| Maturity Amount | ₹105378 | ₹ 105431 |
| Total Investment Amount | ₹ 100000 | ₹ 100000 |
| Total Interest Gained | ₹5378 ₹5378 | ₹ 5431 |
| Income Tax on Wealth Gained | ₹ 12898 | ₹ 13092 |
Compare ICICI Housing Finance Company Fixed Deposit Rates with Top Banks
| Bank Name | FD Interest Rates |
|---|---|
| 5.3% - 5.55% | |
| 6.5% - 6.5% | |
| 5.8% - 6.3% | |
| 6.6% - 7.1% | |
| 6.55% - 7.05% | |
| 7% - 7.5% | |
| 5.75% - 5.75% | |
| 6.9% - 7.4% | |
| 5.5% - 6% | |
| 5.5% - 5.75% |
Calculate ICICI HFC FD Returns
₹ 100000
Total Investment
₹5378
Wealth Gained
₹5378
Wealth Gained
₹105378
Maturity Amount
How to invest in FD
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You can meet your financial goals, whether it’s stress-free day-to-day money management or creating a retirement fund. Since a fixed deposit is not market-linked, you can earn assured interest. ICICI HFC offers you a variety of tenure options ranging from 12 to 120 months. It also allows a premature withdrawal of fixed deposits. The ICICI HFC FD rates range from 5.10% to 6.70% depending on the tenure and type of FD.
Features of ICICI HFC FD
- Invest in your future with attractive interest rates that are unaffected by market fluctuations. ICICI HFC FD provides monthly, quarterly, yearly, or compounded interest payments. ICICI HFC FD rates for senior citizens are 0.25% higher to ensure a comfortable retirement.
- It is usually preferable to maintain your FD intact so that your money can continue to grow. However, if you have an emergency or sudden financial need you can withdraw before maturity. With the flexible tenure options, you can make withdrawals whenever you want. Depending on your demands, you can choose a duration of 1 to 10 years.
- The process of opening an ICICI HFC Fixed Deposit is straightforward and begins online.
- You may start investing with as little as Rs10,000 and make monthly, quarterly or annual payments. FDs are a practical approach to making saving a habit while generating significant returns in a safe and secure manner.
- The ICICI HFC fixed deposits are rated by the highest credit rating agencies. CRISIL, ICRA, and CARE, reputable credit rating agencies, have assessed ICICI HFC Fixed Deposits as AAA Stable (highest level of safety).
- If you require a lump sum payment, you can take a loan against FD for up to 75% of the amount deposited against your FD. However, you will have to pay a rate of interest of 2% more than the rate on your deposit.
Premature Withdrawal of Fixed Deposit
- Premature withdrawals are not permitted during the first three months after deposit.
- The maximum interest due on withdrawals between 3-6 months will be the ICICI Bank’s minimum savings bank interest rate (not exceeding 4% p.a.) for individual depositors. Moreover, “No Interest” for all other depositors.
- You will receive 2% less than the ICICI HFC Fd rates applicable to you at the time of FD creation if you withdraw between 6 and 12 months.
- Withdrawals made after 12 months and up to the date of maturity will earn you 1% less than the rate the company would have paid if the deposit had been accepted for the relevant period.
Who is Eligible for ICICI HFC FD?
The following are eligible for ICICI HFC fixed deposit
- A resident Indian citizen
- Non-Resident Indian and Person of Indian Origin
- Hindu Undivided Family (HUF)
- Public or private firm, company, and foundation
- Other entities like Association of Persons, Societies, or Trusts
Other Details for ICICI HFC FD
- Types of fixed deposits are cumulative, non-cumulative, quarterly income plan and monthly income plan
- The annual or cumulative income plan has a minimum investment requirement of Rs 10,000
- The quarterly income plan has a minimum investment requirement of Rs 20,000
- Monthly income plan has a minimum investment requirement of Rs 40,000
- Minimum depositors- one investor
- Maximum depositors- three investors
- A resident deposit can invest for a period ranging from 1 year to 10 years
- A non-resident investor has a short investment tenure. They can invest for a period ranging from 1 year to 3 years
- Nomination facility is available
- In the case of a cumulative FD, the ICICI HFC rates are compounded before deduction of TDS
How To Apply for ICICI HFC FD?
- On the website, you will find the option of ‘FD’. Click on the dropdown and select the option of “Apply FD”.
- Login to your account by using either your PAN or your customer ID
- Choose the FD plan that is right for you.
- For interest and maturity payments, make sure your bank information is up to date. Enter the details such as FD amount, maturity instruction, auto-renewal, nomination, and read the terms and conditions carefully
- Fill out the form with basic information about your family and upload the KYC (Know Your Customer) documentation.
- Pay the deposit amount by entering the OTP received on either your mobile number or email address. Now generate the application form submitted by you. Take a print-out of the form
- Submit the application form and KYC documents to the branch nearest you.
- Within 3 working days of receiving your physical Application Form, a Fixed Deposit receipt will be issued to your registered mobile number.
- A physical copy of the receipt will be mailed to your communication or correspondence address as well.
Documents Required To Open ICICI HFC FD
| Type of Depositor | Documents |
| Individual | Individual Application FormPAN of the individualAddress proof such as passport, Aadhaar, Voter ID, driver’s licence |
| Private Company | Corporate FD Application FormPAN card with address proof and authorised signatoriesMOA and AOAKYC Form of the authorised signatoriesCertificate of Incorporation |
| Partnership Firm | Non individual FD application FormCertificate of RegistrationPartnership Deed and ResolutionPAN card with address proof and authorised signatoriesKYC Form of the authorised signatories |
| Trusts and Foundations | Non individual FD application FormPAN card with address proof of the Trust and authorised signatoriesCertificate of RegistrationTrust Deed or Bye-LawKYC Form of the authorised signatoriesTax Exemption Certificate, if applicable |
| Co-Operative Societies | Non individual FD application FormPAN card with address proof of the Co-Operative Society and authorised signatoriesSociety Deed or Bye-LawCertificate of RegistrationBoard resolution of the managing body to invest in FD along with list of authorised signatoriesKYC Form of the authorised signatoriesTax Exemption Certificate, if applicable |
| HUF | Individual Application FormPAN of the KartaPAN of the HUFAddress proof of Karta HUF deed or declaration of KartaKYC Form of the Karta |
| Association of Persons | Non individual FD application FormCertificate of RegistrationPAN card with address proof of the entity and authorised signatoriesBoard resolution of the managing body to invest in FD MOA and AOAKYC Form of the authorised signatoriesTax Exemption Certificate, if applicable |
| Nagar Palika | Corporate FD Application FormPAN card with address proof of the entity and authorised signatoriesCertificate of IncorporationBye-Law or formation documentBoard resolution of the managing body to invest in FD KYC Form of the authorised signatoriesTax Exemption Certificate, if applicable |
| Cooperative Banks | Corporate FD Application FormPAN card with address proof of the Bank and authorised signatoriesCertificate of Registration or licence issued by RBIBye-Law, MOA and AOABoard resolution of the managing body to invest in FD KYC Form of the authorised signatoriesTax Exemption Certificate, if applicable |
Frequently Asked Questions
You can choose between non-cumulative and cumulative schemes when opening a fixed deposit in auto-closure or auto-renew mode. Interest would be paid on a monthly, quarterly, or annual basis under the non-cumulative plan. Interest is accumulated with the deposit amount in cumulative deposits, which is therefore eligible to receive interest on an annual compounding basis. Only upon maturity, you will receive the principal, as well as the accumulated interest.
The public fixed deposit schemes of ICICI HFC are governed by regulations issued by the National Housing Bank (“NHB”), the regulatory authority of HFCs. The applicable regulations include the National Housing Bank Act, 1987, Housing Finance Companies (NHB) Directions, 2010, guidelines circulars and notifications issued by NHB from time to time.
Yes, ICICI HFC offers a loan facility at its discretion. A loan against FD is available for up to 75% of the deposit amount. However, you can avail of the loan facility after three months from the date of deposit. You need to comply with other terms and conditions as stated on the FD Application Form. The interest rate on these loans will be 2% higher than the ICICI HFC FD rates. Individuals (other than minors and NRIs) and HUFs are eligible for a loan against FD.
The rate of return on your FD investment is determined by the current interest rate. Divide 72 by the applicable rate to determine the time it will take for your FD to double in value. If your FD interest rate is 7.60%, for example, the number of years it will take to double your money is 9.47 years (72/7.60).
Yes, senior citizens receive extra benefits. A senior citizen depositor receives an extra 0.25% over and above the existing ICICI HFC FD rates.
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