Saturday, 13 April 2013

ICICI Bank Fixed Deposit - 1.2% 12 months for $50,001

Just learnt that ICICI Bank has launched a Fixed Deposit promotion this Saturday, Apr 13.  This new FD is now slightly better than Maybank's FD.  The minimum deposit amount for ICICI Bank FD is only S$1,000, and significantly lower than Maybank's S$25,000.

ICICI Bank is India's second largest bank with global presence that currently spans across 19 countries including Singapore.  There are only 2 branches in Singapore, at Raffles Quay and Little India.

The opening hours for ICICI Bank are slightly different from other banks.  It is more or less normal for Raffles Quay (John Hancock Tower) branch.   It is open Monday to Friday, 0930 hrs- 1530 hrs; closed on Saturday and Sunday.  

Little India (184, Serangoon Road) branch operation hours are: Monday, Wednesday to Friday : 1430 hrs - 2000 hrs;  Saturday to Sunday : 1200 hrs - 2000 hrs.  Tuesday : Closed.

There are multiple fixed terms to chose from and also multiple interest payout options such as monthly, quarterly, half yearly, yearly or on maturity.

Besides Singapore currency fixed deposit, ICICI Bank also offers FD in US dollar and Australian dollar.

Interest rates w.e.f. April 13, 2013

Tenure< 50,000 < 100,000>= 100,000
1 month0.00%0.00%0.00%
3 months0.40%0.45%0.50%
6 months0.50%0.55%0.60%
9 months0.65%0.70%0.75%
12 months1.15%1.20%1.25%
18 months1.25%1.30%1.35%
24 months1.40%1.45%1.50%
36 months1.65%1.70%1.75%

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