ICICI Bank has extended the Special Senior Citizen FD scheme to October 7, 2022, from April 8, 2022. ICICI Bank’s special FD scheme, also known as Golden years FD, resident Senior citizen customers, will get an additional interest rate of 0.25% for limited time over and above 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,” stated the ICICI Bank website.
Golden Years FD Rates
Golden Years FD tenure is from five years one day to ten years. This scheme was started from May 20, 2020 to October 7, 2022. These FDs are applicable to a single FD with a balance of less than Rs 2 crore.
Premature withdrawal
The appropriate penal rate will be 1.25 percent if a deposit opened in the foregoing scheme is prematurely withdrawn/closed after, on, or after 5 years 1 day. If a deposit opened under the aforesaid scheme is withdrawn or closed before 5 years and 1 day, the current premature withdrawal policy will apply.
Interest rates
The interest rate for this scheme tenure is 6.35%. During the scheme’s duration, the higher rate will be offered on both new and renewal deposits.
