FDs for Retail ( NRIs)

FDs for Corporates:

• ICICI IBU is presently offering Corporate FDs in multiple currencies such as USD, GBP, EUR, JPY and CAD
• Corporate FDs can have a tenure from 7 days to 39 months
• In case of foreign entities placing FDs with Bank, there is no TDS deducted on interest paid out on FDs  assuming that there is no other tax incidence for the entity in India
• However, TDS will be deducted on interest paid to GIFT based entities placing FDs with us
• Minimum amount requirement for FD placement is 1000 currency units. There is no maximum amount stipulation for creating FDs with us
• FDs can be created with callable (i.e. can be withdrawn before maturity) or non-callable options
• FDs under a callable option can be withdrawn partially or fully
• A nominal penalty of 0.5% is levied in case of premature withdrawal of FDs. The same will be applied to the applicable interest rate, as on the date of FD creation, for which the FD has actually run.