A non-banking financial company (NBFC), ICICI Home Finance has revised its interest rates for fixed deposits. With effect from July 13, 2022, the new interest rates are applicable for ICICI Home Finance Company (HFC) Fixed Deposits. Minimum investment of Rs. 10,000 is required to be deposited, and ICICI HFC offers various tenure options ranging from 12 to 120 months. ICICI HFC holds the highest credit ratings in the industry which include AAA/Stable by CRISIL, AAA/Stable by ICRA and AAA/Stable by CARE. On ICICI HFC Fixed Deposit Scheme, one can get interest payments on monthly, quarterly, annual or compound basis. The firm also offers 0.25 percent higher interest rate to older people. With various tenure options ranging from 1 to 10 years, one can easily make withdrawals. Up to 75% of the deposited amount can be borrowed against fixed deposits, with 2% more interest charged than the interest on the deposit. Premature withdrawal is not allowed on ICICI HFC deposits during the first three months of deposit, and premature closure of FDs is allowed in the event of death of the depositor.
ICICI HFC Fixed Deposit Rates
Under the cumulative plan, the company offers an interest rate of 5.25% – 6.95% while under the non-cumulative plan the company offers 5.10% – 6.75% under the monthly income plan, 5.15% – 6.80% and 5.25 under the quarterly income plan does. % – 6.95% under annual income scheme.
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ICICI HFC Special Fixed Deposit Interest Rates
Additionally, the company offers a special fixed deposit scheme to the public depositors. With respect to this scheme, ICICI HFC offers interest rates that vary from 6.85 per cent to 7.00 per cent under cumulative scheme and 6.65% – 6.80%, 6.70% for monthly income scheme under non-cumulative plan Is. – 6.85% for quarterly income plan and 6.85% – 7.00% for annual income plan.
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A resident Indian individual, a non-resident Indian, a Hindu Undivided Family (HUF), a public or private enterprise, or other entities such as associations of individuals, societies or trusts can set up ICICI HFC deposits. The tenure ranges from 1 to 10 years for Indian residents and 1 to 3 years for NRIs. There should be a minimum of one depositor and a maximum of three depositors.
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