About ICICI Home Finance Company Fixed Deposit
ICICI Home Finance Company offers retail fixed deposit to investors. It is one of the safest and most profitable saving scheme for those who are looking for higher returns. ICICI HFC offers higher rate of interest and at the same time flexibility allowing for effective compounding or liquidity depending on a depositor’s financial needs. ICICI fixed deposit is available for different tenure. The different tenure also affect the rate of interest as well. However, these deposits are easy to open and manage.
These fixed deposits are very safe and offer timely fulfillment of financial obligation. The ICICI HFC fixed deposits have given the highest rating of MAAA by ICRA and AAA (FD) by CARE respectively.
Important features and advantages of ICICI HFC fixed deposit
- ICICI HFC has the highest credit rate of AAA (FD) by CARE and MAAA by ICRA
- It offers flexible tenure to choose from 1 year to maximum 5 years
- The fixed deposit interest is compounded on yearly basis
- You can choose from monthly, quarterly or yearly compound interest as per your needs
- The minimum amount to deposit in ICICI HFC fixed deposit depends upon the saving scheme you have opted. However, it varies from minimum Rs. 10,000 to Rs. 40,000
- It offers nomination facility to the depositor
- No tax deduction will be made on interest paid Rs. 5000 in a financial year
- ICICI HFC offers 0.25% higher rate of interest for senior citizens
- It also offers loan facility against the fixed deposit of upto 75%
- Premature withdrawal facility
Premature withdrawal is not allowed for the initial three months.
In case of event of premature withdrawal, you have to follow the below term and conditions:
| Premature Withdrawal | Rate of interest payable |
|---|---|
| After 3 months but before 6 months | For individual depositors the maximum interest payable shall be 4% p.a., and no interest in case of other category of depositors. |
| After 6 months but before 12 months | 2% lower than the minimum rate at which public deposits are accepted by ICICI HFC |
| After 12 months but before the date of maturity | 1% lower than the interest rate at which ICICI HFC would have paid had the deposit been accepted for the period for which such deposit has run. |
| Duration | Non cumulative Scheme | Cumulative Scheme | Extra Benfits | Who Can Invest? | |||
|---|---|---|---|---|---|---|---|
| Yearly | Half-yearly | Quarterly | Monthly | Interest | |||
| 12 Months | 8.20% p.a. | -- | 7.95% p.a. | 7.90% p.a. | 8.20%p.a | ||
| 15 Months | 8.20% p.a. | -- | 7.95% p.a. | 7.90% p.a. | 8.20%p.a | ||
| 20 Months | 8.25% p.a. | - | 8.00% p.a. | 7.95% p.a. | 8.25% p.a. | 0.25% extra for senior citizen across all slabs | Resident Individual, NRI, Trusts, Companies, HUF's, AOP |
| 30 Months | 8.25% p.a. | - | 8.00% p.a | 7.95%p.a. | 8.25% p.a. | ||
| 35 Months | 8.25%p.a. | - | 8.00%p.a | 7.95%p.a. | 8.25% p.a. | ||
| 40 Months | 8.50%p.a. | - | 8.25%p.a. | 8.20%p.a | 8.50%p.a. | ||
| 60 Months | 8.25%p.a. | - | 8.00%p.a. | 7.95%p.a. | 8.25% p.a. |