Icici Bank extends its special Fd program for seniors. Know more

ICICI Bank has extended its special fixed deposit scheme for seniors. Now seniors can enjoy exclusive additional interest rates on their FDs below 2 crores until October 7, 2022.

Previously, ICICI Bank’s Golden Years FD rates, which came into effect on January 20, 2022, were due to end on April 8, 2022. However, ICICI Bank has now extended the program on its official website until October 7 2022.

Under the scheme, ICICI Bank said that “senior resident customers will benefit from an additional interest rate of 0.25% for a limited time on top of the existing additional rate of 0.50% per annum”.

The additional rate is applicable on new deposits opened as well as on deposits renewed during the period of the plan.

However, this special scheme is available for lengths of service greater than 5 years.

On 5 years 1 day up to 10 years of seniority, ICICI Bank offers an interest rate of 6.35% to seniors which is already higher than that of 5.60% offered to the general category.

However, since the launch of the Golden Years FD, the bank offers an additional rate of 0.25% on the normal interest rate offered to seniors.

In addition, it should be noted that in case the deposit opened under the above scheme is withdrawn/closed prematurely after, on or after 5 years 1 day, the applicable penalty rate will be 1.25%. In case the open deposit in the system is prematurely withdrawn/closed before 5 years and 1 day, the current early withdrawal policy will be applicable.

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