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Fixed Deposit Account up to 3.05% AER

We no longer offer new GBP Fixed Deposits – Fixed deposits in GBP are available only in case of renewals of exisiting Fixed Deposit. We open Fixed Deposits in Dollars and Euros

ICICI Fixed Deposit Account

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A secure fixed rate account

  • Earn a fixed interest rate on your savings for the full term
  • Invest a minimum of £1000 (there is no maximum)
  • Access to your account – online or phone

Find out more in our Fixed Deposit Account FAQs.

Flexible saving options

  • Choose to save in Sterling, Dollars or Euros
  • Select a savings term ranging from 7 days to 1 year
  • Open an account individually or jointly.

Please see our terms and conditions.

Automatic renewal

Our convenient renewal service means we can automatically renew your Fixed Deposit Account when it matures – so you don't miss out on a single day’s interest.

Fixed Deposit Account

Eligibility
  • 18 years or older.
  • Satisfactory identity and address verification.
Interest Rate
  • Rates are fixed during the term of a deposit.
  • Rates are periodically updated. For latest rates, contact your nearest branch.
Tax Status Interest is taxable on gross rate. Presently interest is taxable @20%. If you are eligible for tax exemption, please contact our bank staff for help.
Conditions for bonus payment No bonus payment.
Withdrawal arrangement Penalty on early withdrawal - If you close your account before it reaches maturity you’ll attract a penalty of 1% on the offered interest rate of the duration for which the deposit was maintained. For eg. If you have opened a fixed deposit for 1 year and you close the deposit within 3 months of opening, the rate of interest you would receive is the rate applicable for 3 months at the time of opening the deposit less 1% penalty charge.
Minimum Balance Minimum Balance of 1000 currency units viz. GBPor USD or Euro
Access Branch, phone banking
Charges No charges.

Key Product Features

  • Rate guarantee during the term of the deposit
  • Optional automatic renewal facility
  • Easy access
  • Interest payment
  • Multi-currency

Key Facts

  1. Who regulates us?
    ICICI Bank UK PLC (FSA Registration Number 223268) is authorised and regulated by the Financial Services Authority. ICICI Bank UK PLC (Company number 04663024) has its registered office at 21 Knightsbridge, London, SW1X 7LY.
  2. What you should do if you have a complaint?
    If you want to make a complaint please contact us at:
    ICICI Bank UK PLC,
    Customer Relations,
    2nd Floor,
    One Thomas More Square,
    London E1W 1YN
    Or
    Telephone Customer Relations at 08081 31 41 51 (Freephone from UK landline)
    Or
    Email at ukcustomerrelations@icicibank.com
    We will then arrange for a member of the complaints team to investigate and respond to you accordingly.
  3. Are we covered by the Financial Services Compensation Scheme (FSCS)?
    ICICI Bank UK PLC is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
    In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.
    For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.FSCS.org.uk or call 020 7892 7300 or 0800 678 1100.

Fixed Deposit Rates (AER/GROSS) effective September 24, 2012

 
7 days to 30 days 0.35%
31 days to 60 days 0.35%
61 days to 90 days 0.85%
91 days to 180 days 0.85%
181 days to 270 days 1.25%
271 days to less than 1 year 1.25%
1 Year 3.05%

*Interest paid on AER basis

Click here for interest rate history

NRI services

We can assist Non- Resident Indians (NRIs) with a wide range of India products – Rupee savings accounts, fixed deposit accounts, India home loans and award-winning online trading services.

More about NRI services

Money transfers

Our international network and low charges enable fast and convenient money transfers with preferential exchange rates – online, in branch and over the phone.

More about transferring money

HiSAVE Accounts

  • Earn a high interest on your savings.
  • Start saving with as little as £1 (for our HiSAVE Savings Account).

More about HiSAVE accounts

We're here to help

Call us 080 81 31 41 51 (freephone from UK landlines).

If you're outside the UK, call +44 203 106 7160.

©ICICI Bank UK PLC 2012. All Rights Reserved.