ICICI Bank introduces special FD scheme for senior citizens: Interest rate, loan and all you need to know
New Delhi: Private sector lender ICICI Bank on Thursday launched a particular mounted deposit (FD) scheme for senior residents referred to as – ICICI Bank Golden Years FD’.
The scheme presents senior residents an rate of interest of 6.55% each year for deposits as much as Rs 2 crore with a tenure of greater than 5 years to 10 years, ICICI Bank stated.
The prospects can conveniently and immediately open an FD utilizing the Bank’s web and cell banking platforms. Alternatively, they will additionally go to the closest ICICI Bank department.
We know that FD curiosity is a key supply of earnings for a big part of senior residents. Keeping this in thoughts, we’re providing larger rates of interest to them via the brand new scheme…We imagine that this scheme will assist them to create an excellent pension kitty on their long run deposit and thereby improve their comfort,“ Pranav Mishra, Head – Liabilities Group, ICICI Bank stated.
Here is all you might want to learn about ICICI Bank Golden Years FD
Availability
‘ICICI Bank Golden Years FD’, is out there from May 20 to September 30, 2020. The financial institution stated that it presents 80 foundation factors (bps) greater than what’s relevant to common public (non-senior residents) for a similar deposit quantity and tenor. Also, it’s 30 bps greater than the earlier charges provided by the Bank. Resident senior residents can avail the good thing about this scheme for brand new FDs in addition to renewal of previous FDs.
Interest charges
Senior residents get rate of interest on FDs with a tenure of 5 years 1 days to 10 years. This is relevant on a single FD amounting to lower than Rs 2 crore.
New and previous FDs
The scheme will likely be relevant on contemporary FDs in addition to renewal of FDs
Loan towards FD
The prospects can avail a mortgage towards their FD as much as 90% of principal and accrued curiosity
Credit card towards FD
The prospects can apply for a bank card towards their FD from the Bank.
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