1.
What are the features of the Fixed Deposit?
ICICI Bank's fixed deposit has simple, powerful features:
Flexible
Tenure: Ranging from one month to 60 months.
Attractive
Interest Rates:
You can earn higher interest rates than those
available in typical current or savings accounts.
Rates are subject to daily fluctuations in money
markets. Rates can be obtained from ICICI Bank
at the time of making the deposit.
No Interest
Rate Fluctuation: Interest rates remain
unchanged during the tenure of the deposit, irrespective
of any movement in market interest rates.
No Tax
at Source: As per the prevailing income-tax
laws in Bahrain, the interest on deposits placed
with ICICI Bank's Bahrain branch would not be
subject to deduction of income tax at source/
withholding tax.
Automatic
Renewal: To make things more convenient
for you, we automatically renew deposits for 1
month at the prevailing rate of interest on maturity
date, unless prior instructions are given to specify
the desired renewal tenor.
2.
How can I apply for a Fixed Deposit? What documents
do I need to keep ready?
Opening the deposit is a simple process. Just download
the account opening form, fill it in and send it to
us. Of course, we would also need some supporting
documents to open your account. More details
are available on the How to Apply page
3.
What are the currencies in which the Fixed Deposits
are available?
The Fixed Deposits are raised in the following currencies:
BD, Bahraini
Dinar
USD, US Dollar
GBP, British Pound Sterling
AUD, Australian Dollar.
4.
What is the minimum amount that I need to open a Fixed
Deposit?
The minimum deposit size for the fixed deposit is:
BD 2,000
USD 5,000
GBP 3,000
AUD 7,000
5.
What are the tenors in
which the Fixed Deposits are offered?
The Fixed Deposits are offered in tenors of one, two, three, six and nine months, and one, two, three, four, and five years.
6.
How is the Interest Rate
calculated?
The interest
rates offered on the Fixed Deposits would be calculated
on a per annum basis, compounded annually. The
accumulated interest would be paid on maturity.
For deposits of a tenor of
12 months or less, the interest would be computed
as simple interest.
