Corporate Fixed Deposit and Overdraft – FAQs

A Corporate Fixed Deposit is an investment product offered by the banks. FDs promise guaranteed returns that are calculated on the basis of interest rates offered at the time of opening FD Accounts. Interest rate may differ depending upon the tenure and amount invested.

Proprietors, Partnership firms, Limited Liability Partnership firms, Private Limited Companies, Public Limited Companies, Trusts, Government entities, Societies etc. are eligible for availing a Corporate Fixed Deposit.

Interest amount is credited at regular intervals, i.e., quarterly or monthly. You can opt for monthly/quarterly payout at the time of opening a Fixed Deposit.

A Fixed Deposit can be opened for a tenure ranging from 7 days to 10 years.

You can avail an FD by visiting the Branch or through Corporate Internet Banking/ API/ InstaBIZ.

The minimum lock-in period for a Corporate FD is 7 days.

There are two types of Corporate FDs.

Cumulative FDs - In a Cumulative FD, interest is calculated on a quarterly basis and reinvested back in the principal amount. At the time of maturity, interest is paid to the customer along with the principal amount.

• Minimum deposit amount: ₹10,000

• Tenure of deposit: Minimum 6 months and maximum 10 years

• Interest is compounded quarterly

Traditional FDs have 3 types of interest payout options:

• Monthly payout FD: Interest is paid on completion of the month.
  • Minimum deposit amount: ₹10,000

  • Tenure of the deposit: Minimum 3 months and maximum 10 years

• Quarterly payout FD: Interest is paid on completion of the quarter. 
  • Minimum deposit amount: ₹ 10,000

  • Tenure of the deposit: Minimum 3 months and maximum 10 years

• Period payout FD: Interest is paid on completion of the entire tenure. 
  • Minimum deposit amount: ₹ 10,000

  • Tenure of the deposit: Minimum 7 days and maximum 185 days

Auto-renewal facility can be opted at the time of opening an FD or any time before the FD matures. Auto-renewal allows the FD to get renewed automatically for the same period as the original deposit.

A Callable Fixed Deposit allows premature withdrawal while a Non-Callable Fixed Deposit does not allow premature withdrawal.

In a Corporate FD, you receive non-volatile returns. If you invest any amount in a Corporate FD, ICICI Bank promises an annual interest rate, irrespective of the market condition. For queries, click on the ‘Get in Touch’ tab.

Yes, now you can avail a monthly interest payout on your ICICI Bank FD. Click on the ‘Get in touch tab’ or contact your Relationship Manager, for more details.

ICICI Bank FD Interest Calculator is a tool to help the customer determine the interest that he/she would earn on the FD investment based on the amount, tenure and the prevailing interest rate. This can help in the calculation of the return on investment.

Benefits of using ICICI Bank Corporate Fixed Deposit Calculator are-

• Helps in determining the annualised interest rate on your Fixed Deposit
• Helps in deciding on an initial investment amount
• You can gauge the growth of your investment
• Helps in choosing a suitable interest payout option.

Interest is not payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit and no premature closure charges are applicable.

You can calculate the interest on your FD using the ICICI Bank Interest Rate Calculator.

Yes. When you avail a Corporate Fixed Deposit you can prematurely close the FD.

Yes, you can avail an Overdraft Facility against a Callable Fixed Deposit.

No, you cannot avail any fund-based facility like Overdraft/CC against Non-callable Fixed Deposit.

Premature withdrawal of Non-callable Fixed Deposits is not allowed. However, premature withdrawal in case of Government orders /regulatory orders/ bankruptcy/legal orders/deceased settlement claims, will be exempted from this clause. The Bank will not pay any interest on the principal amount of the deposit.

Overdraft (OD) can be availed by visiting any ICICI Bank Branch or by contacting your Relationship Manager.

No, you cannot avail an Overdraft Facility against Non-callable Fixed Deposit.