This bank offers special FDs rates for senior citizens till tomorrow. Key details
Premium- The additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.
ICICI Bank will be offering an exclusive additional interest rate to senior citizens on fixed deposits below ₹2 crore till tomorrow. The extra interest rate is on FDs above 5 years tenure.
Under its Golden Years FD Rates scheme that came into effect on January 20, 2022, ICICI Bank says, "Resident Senior citizen customers, will get an additional interest rate of 0.25% for a limited time over and above the existing additional rate of 0.50% per annum."
The additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.
The FDs are applicable duration is from May 20, 2020, to April 8, 2022.
The FD is applicable on 5 years 1 day up to 10 years tenure and on deposits below ₹2 crore. In general, the bank offers a 6.35% interest rate on the mentioned tenure to senior citizens which is already higher than compared to 5.60% offered to the general category.
However, since the launch of the Golden Years FD, the bank is offering an additional 0.25% rate on the normal interest rate offered to senior citizens.
As per the bank, in case the deposit opened in the above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the applicable penal rate will be 1.25%. In case the deposit opened in the scheme is prematurely withdrawn/closed before 5 years and 1 day, the prevailing premature withdrawal policy will be applicable.
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