Savings Account Interest Rate
Domestic and Non Resident (NRE/NRO) Savings Bank Account
How is Savings Account Interest Rates Calculated?
Savings Bank Account interest is calculated on a daily basis on the daily closing balance in the Account, at the rate specified by ICICI Bank in accordance with Reserve Bank of India directives. The interest amount calculated is rounded off to the nearest rupee. With effect from March 30, 2016, interest will be paid quarterly in March, June, September and December.
With effect from 4th June 2020, the savings account interest rate applicable would be:
3.00% for end of day account balance of below ₹50 Lacs
3.50% for end of day account balance of ₹ 50 Lacs & above.
Fixed Deposits (with premature withdrawal facility)
Interest rates on Domestic, NRO & NRE deposits(Less than ₹ 5 crore)
| Maturity Period | Interest rates (per cent per annum) w.e.f. September 07, 2020 | Interest rates (per cent per annum) w.e.f. September 02, 2020 | ||
|---|---|---|---|---|
| Single deposit of less than ₹ 20.0 million | Single deposit of ₹ 20.0 mn & above but less than 50.0 mn | |||
| General | **Senior Citizen | General | **Senior Citizen | |
| 7 days to 14 days | 2.50% | 3.00% | 2.50% | 2.50% |
| 15 days to 29 days | 2.50% | 3.00% | 2.50% | 2.50% |
| 30 days to 45 days | 3.00% | 3.50% | 2.75% | 2.75% |
| 46 days to 60 days | 3.00% | 3.50% | 2.75% | 2.75% |
| 61 days to 90 days | 3.00% | 3.50% | 3.00% | 3.00% |
| 91 days to 120 days | 3.50% | 4.00% | 3.00% | 3.00% |
| 121 days to 184 days | 3.50% | 4.00% | 3.00% | 3.00% |
| 185 days to 210 days | 4.40% | 4.90% | 3.50% | 3.50% |
| 211 days to 270 days | 4.40% | 4.90% | 3.50% | 3.50% |
| 271 days to 289 days | 4.40% | 4.90% | 3.65% | 3.65% |
| 290 days to less than 1 year | 4.40% | 4.90% | 3.65% | 3.65% |
| 1 year to 389 days | 5.00% | 5.50% | 3.75% | 3.75% |
| 390 days to < 18 months | 5.00% | 5.50% | 3.75% | 3.75% |
| 18 months to 2 years | 5.10% | 5.60% | 3.75% | 3.75% |
| 2 years 1 day to 3 years | 5.15% | 5.65% | 4.25% | 4.25% |
| 3 years 1 day to 5 years | 5.35% | 5.85% | 4.25% | 4.25% |
| 5 years 1 day to 10 years | 5.50% | 6.30% | 4.25% | 4.25% |
| 5 Years (80C FD) – Max to ₹ 1.50 lac | 5.35% | 5.85% | NA | NA |
*NRE rates applicable for tenure of 1 year and above only.
**Senior Citizen rates applicable only for domestic term deposits.
INTEREST RATES ON DOMESTIC, NRO & NRE DEPOSITS with premature withdrawal facility ( ₹ 5 cr and above )
| Single Deposit Tenure Period |
Rate of Interest (% p.a.) w.e.f September 02, 2020 | ||||||
|---|---|---|---|---|---|---|---|
| ₹ 5.00 crore to < ₹ 5.10 crore | ₹ 5.10 crore to < ₹ 24.90 crore | ₹ 24.90 crore to < ₹ 25.00 crore | ₹ 25.00 crore to < ₹ 100.00 crore | ₹ 100.00 crore to < ₹ 250.00 crore | ₹ 250.00 crore to < ₹ 500.00 crore | > = ₹ 500.00 crore | |
| 7 days to 14 days | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 |
| 15 days to 29 days | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 |
| 30 days to 45 days | 2.50 | 2.75 | 2.50 | 2.75 | 2.75 | 2.75 | 2.75 |
| 46 days to 60 days | 2.50 | 2.75 | 2.50 | 2.75 | 2.75 | 2.75 | 2.75 |
| 61 days to 90 days | 2.60 | 3.00 | 2.60 | 3.00 | 3.00 | 3.00 | 3.00 |
| 91 days to 120 days | 2.60 | 3.00 | 2.60 | 3.00 | 3.00 | 3.00 | 3.00 |
| 121 days to 150 days | 2.60 | 3.00 | 2.60 | 3.00 | 3.00 | 3.00 | 3.00 |
| 151 days to 184 days | 2.60 | 3.00 | 2.60 | 3.00 | 3.00 | 3.00 | 3.00 |
| 185 days to 210 days | 2.75 | 3.50 | 2.75 | 3.50 | 3.50 | 3.50 | 3.50 |
| 211 days to 240 days | 2.75 | 3.50 | 2.75 | 3.50 | 3.50 | 3.50 | 3.50 |
| 241 days to 270 days | 2.75 | 3.50 | 2.75 | 3.50 | 3.50 | 3.50 | 3.50 |
| 271 days to 300 days | 2.75 | 3.65 | 2.75 | 3.65 | 3.65 | 3.65 | 3.65 |
| 301 days to 330 days | 2.75 | 3.65 | 2.75 | 3.65 | 3.65 | 3.65 | 3.65 |
| 331 days to < 1 year | 2.75 | 3.65 | 2.75 | 3.65 | 3.65 | 3.65 | 3.65 |
| 1 year to 389 days | 3.00 | 3.75 | 3.00 | 3.75 | 3.75 | 3.75 | 3.75 |
| 390 days to < 15 months | 3.00 | 3.75 | 3.00 | 3.75 | 3.75 | 3.75 | 3.75 |
| 15 months to < 18 months | 3.00 | 3.75 | 3.00 | 3.75 | 3.75 | 3.75 | 3.75 |
| 18 months to 2 years | 3.00 | 3.75 | 3.00 | 3.75 | 3.75 | 3.75 | 3.75 |
| 2 years 1 day to 3 years | 3.00 | 4.25 | 3.00 | 4.25 | 4.25 | 4.25 | 4.25 |
| 3 years 1 day to 5 years | 3.00 | 4.25 | 3.00 | 4.25 | 4.25 | 4.25 | 4.25 |
| 5 years 1 day to 10 years | 3.00 | 4.25 | 3.00 | 4.25 | 4.25 | 4.25 | 4.25 |
Premature withdrawal of deposit:
On pre-mature withdrawal of the DOMESTIC, NRO & NRE deposits:
-
-
-
- interest will be calculated at the rate applicable for the period for which the deposit was held with the Bank or contracted rate of the deposit whichever is lower, plus applicable penalty as below:
- Penalty will be levied on the rate applicable as per the table below
-
-
| Original Tenure of Deposit | Penal Rates* | |
|---|---|---|
| Less than ₹ 5.0 crore | ₹ 5.0 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% |
*Subject to revision without further notice.
Fixed Deposits (without premature withdrawal facility)
INTEREST RATES ON DOMESTIC, NRO & NRE DEPOSITS without premature withdrawal facility ( ₹ 2 cr and above ). These fixed deposits do not have premature withdrawal facility, i.e., the fixed deposit cannot be closed by the depositor before expiry of the term of such deposit.
| Single Deposit Tenure Period |
Rate of Interest (% p.a.) w.e.f September 02, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| ₹ 2.00 crore to <₹5.00 crore | ₹ 5.00 crore to <₹5.10 crore | ₹ 5.10 crore to <₹24.90 crore | ₹ 24.90 crore to <₹25.00 crore | ₹ 25.00 crore to <₹100.00 crore | ₹ 100.00 crore to <₹250.00 crore | ₹ 250.00 crore to <₹500.00 crore | > =₹500.00 crore | |
| 7 days to 14 days | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 |
| 15 days to 29 days | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 |
| 30 days to 45 days | 2.75 | 2.75 | 2.75 | 2.75 | 2.75 | 2.75 | 2.75 | 2.75 |
| 46 days to 60 days | 2.75 | 2.75 | 2.75 | 2.75 | 2.75 | 2.75 | 2.75 | 2.75 |
| 61 days to 90 days | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 |
| 91 days to 120 days | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 |
| 121 days to 150 days | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 |
| 151 days to 184 days | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 | 3.10 |
| 185 days to 210 days | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 |
| 211 days to 240 days | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 |
| 241 days to 270 days | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 | 3.60 |
| 271 days to 300 days | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 |
| 301 days to 330 days | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 |
| 331 days to < 1 year | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 |
| 1 year to 389 days | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 |
| 390 days to < 15 months | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 |
| 15 months to < 18 months | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 |
| 18 months to 2 years | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 |
| 2 years 1 day to 3 years | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 |
| 3 years 1 day to 5 years | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 |
| 5 years 1 day to 10 years | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 |
Recurring / iWish Deposits
Tenure wise interest rates for Recurring Deposits:
| Maturity Period | Rate of Interest (% p.a.) w.e.f September 07, 2020 | |
|---|---|---|
| General | Senior Citizen | |
| 6 months | 3.50 | 4.00 |
| 9 months | 4.40 | 4.90 |
| 12 months | 5.00 | 5.50 |
| 15 months | 5.00 | 5.50 |
| 18 months | 5.10 | 5.60 |
| 21 months | 5.10 | 5.60 |
| 24 months | 5.10 | 5.60 |
| 27 months | 5.15 | 5.65 |
| 30 months | 5.15 | 5.65 |
| 33 months | 5.15 | 5.65 |
| 36 months | 5.15 | 5.65 |
| Above 3 years upto 5 years | 5.35 | 5.85 |
| Above 5 years upto 10 years | 5.50 | 6.30 |
Note:
- Recurring Deposits will be available for a minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
- As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD
- For terms & conditions and any other details, please contact your nearest ICICI Bank Branch.
Tenure wise interest rates for iWish:
| Tenure / Maturity Period | Rates of Interest# (% p.a.) w.e.f September 07, 2020 | |
|---|---|---|
| General | Senior Citizen | |
| 6 months | 3.50 | 4.00 |
| 7 months – 9 months | 4.40 | 4.90 |
| 10 months – 11 months | 4.40 | 4.90 |
| 12 months only | 5.00 | 5.50 |
| 13 months – 18 months | 5.00 | 5.50 |
| 18 months – 24 months | 5.10 | 5.60 |
| 25 months – 3 years | 5.15 | 5.65 |
| 37 months – 5 years | 5.35 | 5.85 |
*Subject to revision without further notice.
Premature withdrawal of Deposit:
On pre-mature withdrawal of the Recurring / iWish deposits:
- Interest will be calculated at the rate applicable for the period the deposit has actually remained with ICICI Bank.
- Penalty will be levied on the rate applicable as per the table below
| Original Tenure of Deposit | Penal Rates* | |
|---|---|---|
| Less than ₹ 5.0 crore | ₹ 5.0 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% |
*Subject to revision without further notice.
RBI Policy Repo Rate and ICICI Bank External Benchmark Lending Rate
RBI Policy Repo Rate effective May 22, 2020 is 4.00%.
“ICICI Bank External Benchmark Lending Rate” (I-EBLR) is referenced to RBI Policy Repo Rate with a mark-up over Repo Rate. I-EBLR is 7.70% p.a.p.m. effective June 09, 2020.
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