ICICI Tax Saving Fixed Deposit – Interest Rate & Eligibility

ICICI Bank offers different fixed deposit schemes with competitive interest rates for all types of investors. The ICICI Tax Saving FD is an ideal option for investors looking for a long-term investment plan while saving taxes. By booking a Tax Saving FD, you can claim tax deductions under Section 80C of the Income Tax Act for up to ₹1.5 lakhs within a financial year. 

Let us take a closer look at this guide to a tax-saving fixed deposit scheme offered by the ICICI Bank.

Account TypeICICI Bank Tax Saver FD (Fixed Deposit)
AmountMinimum: ₹10,000
Maximum: ₹150,000
TenureMinimum: 5 years (Lock-in period)
Maximum: No data available
Interest RateSenior Citizen: 7.50% p.a.
General Public: 7.00% p.a.
Loan FacilityNot available

ICICI Tax Saving Fixed Deposit Interest Rate

Here is a table to give you detailed information on the ICICI tax saver FD interest rate.

Type of InvestorTenureInterest Rate
General Citizen5 Years 7.00%
Senior Citizens5 Years 7.50%
*Note: Staff of ICICI Bank (retired staff as well) will get an additional 1.00% interest rate on deposits below ₹2 crores.

How to Open an ICICI Tax Saving Fixed Deposit?

Opening an ICICI Bank tax saver FD is an easy and simple process, offering multiple convenient avenues for individuals. Check the types below.

1. ICICI Internet Banking Portal

Here is a step-by-step guide on how to open an ICICI Tax Saving Fixed Deposit account through the bank’s official banking portal. 

Step 1: Visit the official internet banking portal of ICICI Bank

Step 2: Login into the portal using your registered credentials. If you are not a registered user, you need to sign up first to access the portal. 

Step 3: After getting access, find the ‘Customer Service’ option and click on it. 

Step 4: Choose the ‘Service Request’ option. 

Step 5: Next, click on the ‘Category Deposits’ tab. 

Step 6: Select the ‘Open Standard Fixed Deposit’ tab to open an FD account. 

Step 7: Fill out the account opening form and deposit the required principal amount. 

You will receive a notification on your device upon successful account opening. 

2. iMobile App

Here’s how an online FD account can be opened through the ICICI Bank mobile application. 

Step 1: Download the ICICI Bank iMobile app on your device and log in using your credentials. 

Step 2: Click on the ‘Account & Deposits’ tab, followed by the ‘Deposits’ option. 

Step 3: Next, select the ‘Open FD’ tab. An account opening form will be displayed. 

Step 4: Fill in all the required details carefully and submit it. 

After submitting the request, the bank will notify you of the successful account opening. 

3. ICICI Bank Branch

Here is a stepwise process you must follow with due diligence to open an ICICI Tax Saving Fixed Deposit account offline. 

Step 1: Visit the nearest branch of the ICICI Bank. 

Step 2: Obtain a tax-saving account opening form from a bank representative. 

Step 3: Fill out the form and attach all the required documents. 

Step 4: Submit the form to the bank representative. 

The bank representative will process your application form and the other documents. Upon a successful account opening, the bank will issue a fixed deposit receipt to you. 

4. Customer Care

If you are an existing customer of ICICI Bank, you can reach their Customer Care at 1800 1080 using your registered mobile number to book a tax saver FD. Support is available between 7:00 a.m. and 9:00 p.m., making it a flexible option.

ICICI Bank offers diverse methods to cater to your preferences and needs, ensuring a hassle-free experience when opening a Tax Saving FD. Explore the most convenient option for you, whether digital or in-person and start your tax-saving journey with confidence.

ICICI Tax Saver FD Eligibility Criteria

You must meet the eligibility criteria while applying for ICICI tax saving FD:

  • The age must be 18 years or more.
  • Applicants need to be Indian residents.
  • Applicants have to be self-employed or salaried.

Documents Required for ICICI Tax Saver FD

There are a number of documents you need to produce that will serve as your identification while booking the tax-saving FD in ICICI Bank. Check the list below:

1. Address and Identity Proof (any one of the documents)

  • Driving licence 
  • Passport
  • Letter from National Population Register
  • Voter ID card
  • Job card issued by NREGA and signed by an officer of the State Government
  • Aadhaar card (Proof of possessing Aadhaar number)

2. Communication Address Proof

In case your identity proof does not comprise your communication address, submit any one of the following documents as your communication address proof to the bank:

  • Any utility bill within the last 2 months.
  • Letter of Allotment for accommodation from employer, issued by either Central or State Government.
  • Municipal Tax Receipt or Property Tax Bill not older than 1 year.
  • Leave and Licence agreement from any employer, subject to the presence of the customer’s name as the employee.
  • Pension or family pension payment orders, issued by government agencies or public sector organisations to retired personnel if the address is included.


  • You must fill out the tax-saving FD application form in capital letters and black ink.
  • Original as well as photocopy of each document has to be produced.
  • Telephone and permanent address are mandatory to be written in the form.
  • Countersign in case of overwriting.
  • Fill in the nominee details.

Whether you are an expert or a novice with banking procedures, opening an ICICI tax-saving FD is easy. Just follow the procedures as discussed and produce the required documents to open the account seamlessly. Overall, a tax saver fixed deposit option of ICICI Bank helps you save taxes on your income but also helps to grow your hard-earned money with assured returns.

So, book your ICICI Bank tax saver fixed deposit account today and enjoy its benefits to the fullest.


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