New Delhi: ICICI Bank’s special FD scheme for senior citizens named ‘ICICI Bank Golden Years FD’, which was to expire on Friday, has got an extension of six months. According to the bank’s website, ‘ICICI Bank Golden Years FD’ will be available and valid for subscription till October 31, 2023
The bank’s website states that ‘ICICI Bank Golden Years FD’ will offer an additional interest rate on FDs of 0.10% to resident senior citizen customers for a limited period of time, over and above the existing additional rate of 0.50% per annum.
ICICI Bank Golden Years FD Highlights
Applicable Period: May 20, 2020 to October 31, 2023
Additional rate will be available on new deposits as well as renewed deposits opened during the scheme period
Eligible FD tenure: 5 years 1 day, up to 10 years
Applicable on opening single FDs below Rs 2 crore through ICICI Bank
Loan against FD: Customers can avail a loan of up to 90% of the principal amount and accrued interest on their FD
Credit card against FD: Customers can apply for a credit card against their FD from the bank.
ICICI Bank Golden Years FD Interest Rate
Senior residents will get an interest rate of 7.5 per cent on ICICI Bank Golden Years FD for 5 years and a day, up to 10 years, which is 60 basis points higher than the normal rate of 6.9 per cent.
How to open ICICI Bank Golden Years FD
Customers can open FDs using the internet and mobile banking platforms of the bank. Alternatively, they can also visit the nearest ICICI Bank branch to open the FD.