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About Fixed Deposits
When you are looking for a safe investment option with attractive returns, then we have a winning asset to offer i.e. ICICI Home Finance Company’s Fixed Deposits
A wide range of investment options bundled with attractive features and benefits makes our Fixed Deposits one of the best financial products to invest in.
Benefits of an ICICI Home Finance Co. Fixed Deposit:
Make the most of the ICICI Home Finance Co. Fixed Deposit advantage
- Highest credit ratings- AAA by CARE and MAAA by ICRA#
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- Interest rates among best in industry
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- Terms ranging from 1 - 7 years
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# The company has been assigned a credit raiting of "CARE AAA (FD)(SO)" for its fixed deposits by Credit Analysis & Research Limited. Instruments carrying this raiting are considered to be of best quality, offering highest safety for timely servicing of debt obligation. The raiting is based on the credit enhancement by ICICI Bank Ltd. in the form of letter of comfort.
- Wide choice of tenure starting from 12 to 84 months
- Minimum deposit amount for all income plans changed from Rs. 5000 to:
- Annual/Cumulative Income Plan - Minimum deposit amount Rs. 10,000/-
- Quarterly Income Plan - Minimum deposit amount Rs. 20,000/-
- Monthly Income Plan - Minimum deposit amount Rs. 40,000/-
Any additional deposit amount would be accepted in multiple of Re. 1/-
- Acceptance of deposits at all ICICI HFC retail offices
- Interest earned up to Rs. 5,000.00 in a FY exempt
- Deposits placed by Trusts qualify under the category of Specified Investment as defined under section 11(5)(ix) of Income Tax Act 1961
- Guaranteed returns as against low returns of debt funds in volatile interest rate regime Low risk investment option
- Other Advantages -
- Provides liquidity and fulfills a periodic requirement of funds without sacrificing long-term returns
- Suitable for regular income from investment
- Suitable for deploying large investment amounts
- When you consider allocating funds among various investment avenues, fixed deposits would form an integral part given their -
- Safety
- Fixed returns
- Liquidity
| Eligibilty |
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- Eligible entities as depositors
- Resident Indians
- NRIs
- Association of Persons (AOPs)
- Hindu Undivided Family (HUFs)
- Trusts and Foundations
- Co-operative Societies
- Firms
- Companies
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| Documentation |
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- Completed Deposit Application form
- Form 15H
- Form 15G
- ECS Mandate Form
- Deposit Amount Cheque/DD drawn on any ICICI Bank Location
- KYC & other documents -
- Individuals - photo id proof, address proof, age proof for Senior Citizen’s deposits.
- Non-Individuals - documents would also include Certificate of Registration,Board/Managing Body Resolution, etc.
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Interest Rates:
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Rates Effective from 17th August 09 |
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Base Scheme Rates |
Tenure
| Ticket slab
| Ann/Cum
| Qtrly
| Mthly
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12 – 23 mths
| < = Rs.1 cr
| 7.00%
| 6.80%
| 6.75%
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24 - 35 mths
| < = Rs.1 cr
| 7.50%
| 7.30%
| 7.25%
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36 - 59 mths
| < = Rs.1 cr
| 8.00%
| 7.75%
| 7.70%
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60 - 84 mths
| < = Rs.1 cr
| 8.40%
| 8.15%
| 8.10%
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0.25% additional for senior citizen |
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Special Scheme Rates |
Tenure
| Ticket slab
| Ann/Cum
| Qtrly
| Mthly
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20 mths
| < = Rs.1 cr
| 7.15%
| 7.00%
| 6.95%
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30 mths
| < = Rs.1 cr
| 8.00%
| 7.75%
| 7.70%
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40 mths
| < = Rs.1 cr
| 8.25%
| 8.00%
| 7.95%
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60 mths
| < = Rs.1 cr
| 8.50%
| 8.25%
| 8.20%
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0.35% additional for senior citizen across slabs |
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Premature Withdrawal |
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- Premature withdrawal is not allowed in the first 3 months
- In the event of premature withdrawal following terms are applicable
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| Premature withdrawal timing |
Penalty charges applicable |
| Withdrawal between 3 - 6 months |
No interest shall be payable |
| Withdrawal between 6 - 12 months |
3% lower than the minimum rate at which public deposits are accepted by ICICI HFC |
| After 12 months but before maturity |
2% lower than the rate applicable for the completed tenure of deposit |
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Deduction of Income Tax at Source (TDS) |
There is no tax deduction at source on interest paid/credited upto Rs. 5000/- per branch in a Financial Year.
Income tax will be deducted at source under Section 194A of the Income Tax Act, 1961 at the rates in force. If the depositor is not liable to pay income tax and the interest to be paid/credited in a financial year does not exceed the maximum amount exempt from tax, depositor may submit a declaration in Form No. 15G so that income tax is not deducted at source. Senior Citizen may submit the declaration in Form No. 15H. Where income tax is deducted at source from the monthly interest, a consolidated TDS certificate may be issued for the financial year.
Sub-section 5A of Section 139A of the Income Tax Act, 1961 requires every person receiving any sum or income from which tax has been deducted to intimate his Permanent Account Number(PAN) to the person responsible for deducting such tax. Further, sub-section 5B of Section 139A requires the person deducting such tax to indicate the PAN on the TDS certificate. Please mention your PAN in the application form. However, in case you have applied for PAN or PAN is not applicable in your case, please tick the appropriate box in the application form.
For NRI's income tax at source will be deducted as applicable to Non-Resident Indians. |
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