ICICI Home Finance Fixed Deposits

by Manshu on November 10, 2009

in Fixed Deposits

ICICI Home Finance Fixed Deposits is a FD scheme run by a subsidiary of ICICI Bank called the ICICI Home Finance Company Limited. So, this is not a fixed deposit by the bank itself, but one offered by its subsidiary.

Here are some things about ICICI Home Finance fixed deposit that will help you evaluate if this is meant for you or not.

  1. Maturity period: There are plans with several maturity periods that range between 1 and 7 years.
  2. Interest Rates: Here are some tables that break it up according to scheme types and maturity periods. These are rates that I saw on November 7, 2009. Please check with the bank or through your online broker to see the prevailing interest rates and make sure you use the most current.

Monthly Income Plan

Tenure Minimum Amount Interest Rate
30 – 30 months 40,000 7.55
40 – 40 months 40,000 7.70
60 – 60 months 40,000 7.95
12 – 23  months 40,000 6.75
24 – 35 months 40,000 7.25
36 – 59 months 40,000 7.50
60 – 84 months 40,000 7.95

Quarterly Income Plan

Tenure Minimum Amount Interest Rate
30 – 30 months 20,000 7.60
40 – 40 months 20,000 7.75
60 – 60 months 20,000 8.00
12 – 23  months 20,000 6.80
24 – 35 months 20,000 7.30
36 – 59 months 20,000 7.55
60 – 84 months 20,000 8.00

Annual Income Plan

Tenure Minimum Amount Interest Rate
30 – 30 months 10,000 7.80
40 – 40 months 10,000 8.00
60 – 60 months 10,000 8.25
12 – 23  months 10,000 7.00
24 – 35 months 10,000 7.50
36 – 59 months 10,000 7.75
60 – 84 months 10,000 8.25

Cumulative Income Plan

Tenure Minimum Amount Interest Rate
30 – 30 months 10,000 7.80
40 – 40 months 10,000 8.00
60 – 60 months 10,000 8.25
12 – 23  months 10,000 7.00
24 – 35 months 10,000 7.50
36 – 59 months 10,000 7.75
60 – 84 months 10,000 8.20

4. Minimum Amount: Minimum amount ranges from Rs. 10,000 to Rs. 40,000, based on the scheme you apply for.

5. Credit Rating: ICICI Home Finance has a credit rating of AAA from CARE for its fixed deposits. This rating indicates that CARE considers it of the best quality offering highest safety for timely servicing and debt obligation.

6. Premature Withdrawal: If you break your ICICI Home Finance FD before the maturity period, there will be some penalty. This will be calculated as follows:

Timing Penalty
Between 3 and 6 months No interest will be payable
Between 6 and 12 months 3% lower than the minimum rate at which public deposits are accepted by ICICI HFC
After 12 months, but before maturity 2% lower than the rate applicable for the completed tenure of deposits

7. ECS Facility: The scheme allows payment of interest through the Electronic Clearing System (ECS) facility in locations where the scheme is available. This is a useful thing to have and you should check if you can avail it where you live or not. If you don’t use the ECS facility, then you will be paid through a cheque or demand draft. These days banks charge for depositing outstation cheques, so you could potentially be charged that.

8. TDS: Tax will be deducted at source according to the applicable rules at the time.

These were some factors to consider if you plan to invest in the ICICI Home Finance Fixed Deposit scheme. I prepared a comparison of fixed deposit rates back in July 2009, and you might be interested in taking a look at that also.

{ 23 comments… read them below or add one }

T.KAMALA November 10, 2009 at 7:58 AM

Ihave to request ICICI HOME FINANCE, ICICITOWERS,BANDRA KURLA COMPLEX MUMBAI400051 TO LOOK INTO THIS MATTER.Iam the Manager
of Indian Overseas Bank Cox Town Branch Bangalore.We have sent the deposit receipt of Mrs.Poonam Ishwar Mathani Foli No.333hf0076111/Form No DEF0442081 for Rs.270000/-by ODBC No 529 ON 22.9.09.We have not received the proceeds yet.No Corresponence by the Institution and the customer is put to lot of inconvenience. Kindlylook into the matter and do the needful.

KAMALA MANAGER

Reply

Manshu November 10, 2009 at 5:18 PM

I think you realize it, but I have to say it anyway: This site is not related to ICICI in any way. This is a personal blog and you are much better off writing to them directly.

Reply

ICICI Bank Care November 18, 2009 at 10:14 PM

Hi,

We’re the Customer Service Team at ICICI Bank and are sorry about the trouble. Please request Mrs. Mathani to email us at [email protected] with her contact details. We’ll contact her and work to address her issue.

Regards,
ICICI Customer Service Team.

Reply

Manshu November 19, 2009 at 5:17 PM

Thanks for your response. I have sent an email to the person who left the comment requesting them to get in touch with you.

Reply

chandra sekhar November 28, 2009 at 1:42 AM

sir, i am interested to know what will be the highest commision can you give for a third party for putting a deposit, please mail me the details.

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T.P. Viswanathan November 30, 2009 at 9:09 AM

1. What is the interest rate offered as on 30th November and what terms / options are open.

2. Do Senior Citizens get better returns! If so, how much! Please state interest rate that a senior citizen can earn for 30 months and 40 months.

Reply

Dr. Mittal December 5, 2009 at 12:18 AM

Dear sir,
I am a NRI and have NRE accounts with ICICI Bank.
Can I invest in ICICI Home Fixed deposits.
What would be the rate of interest – table
What would be the tax implications.
Regards
Dr. Mittal

Reply

vijaykumar bhayani February 24, 2010 at 6:48 AM

Sir,
I have forwarded my FDR No. 333HOO13154 for Rs. 15000.00 matured on 22/2/10, for repayment through Bajaj Capital Ltd., Rajkot before one month. I have received only interest amount Rs. 1137.31 by warrant no. 115519 dated 22.2.10. till to day i have not received principal amount rs. 15000.00. kindly do the needful at your end.

vijay bhayani, gopalvatika, near vrujdham, dwarka 361 335 gujarat

Reply

Manshu February 24, 2010 at 3:38 PM

You need to get in touch with the people who sold you this. This is a private blog and can’t help you with your issue.

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neha anand March 11, 2010 at 11:04 AM

dear sir/mam,
This is Neha Anand form no.DEF0309857 ; reciept no.333H0084123 would like to draw your attention as i m the resident of Kota(Rajasthan).I have taken 1 F.D form your bank. Now it was going to be matured on 17th of march.. before that i would like to make some changes in my a/c details for i have concerned alot to the officer of your department.but no services was provided to me.
So its a request from my site to provide me the services or any other process as soon as possible.For that i m thankful to you.

Neha Anand

Reply

Manshu March 11, 2010 at 5:19 PM

Neha, you need to get in touch with ICICI Home Finance and they might be able to help you.

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neha anand March 12, 2010 at 5:16 AM

Thanks for your reply mam. I have concerned alot in the kota branch but no fruitful answers will be given to me.They are not providing any services in Kota.It will not only happening with me its going to be happen with some one else also. Which directly going to spoil the company’s Brand image.So its my humble request to you mam to take care of it..
Or provide me some other way to make changes regarding a/c details of my policy .I dont want any interest to be debited in my a/c which i have mentioned.Is it possible to make changes via online.please help me regarding that for that i will be really thankful to you..

Neha Anand

Reply

PREM LATA BHATNAGAR April 21, 2010 at 12:23 AM

1. Ihave following Folio Nos of FDR’s of your esteemed Company:-
S.No. Folio No. FDR No Amount
1. 333HF0074148 333H0058945 C30 1,00,000/-
2. 333HF0097968 333H0082933 M30 75,000/-
3. 333HF0061334 333H0046394 M30 50,000/-
Customer ID No
4. 661007864 003200013097 25,000/-
Ihave sent form 15H for the financial year 2010-2011 for not deducting TDS your confirmation is awaited please.
Dividend warrants for the financial year 2010 – 2011 are yet to be received. Please expedite.

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PRAKASH SWAROOP BHATNAGAR April 21, 2010 at 12:40 AM

I have following FDRs of your esteemed company:-
S.No. Folio No. FDR No. Amount
1. 333HF0074149 333H0058960 C30 1,00,000/-
2. 333HF0098014 333H0083050 M30 75,000/-
3 333HF0067335 333H0046410 M30 50,000/-
Customer ID
4. 661007861 003200013095 25,000/-
I hav sent 15H Form duly filled in for the financial year 2010-2011 for not deducting TDS. Your confirmation is requested please.
Interest warrants in respect of above FDRs for the finanancial year 2010-2011 have not been received till date. Immediate action is requested please.

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Awadhesh Prasad Singh June 3, 2010 at 3:49 AM

I have not received TDS Certificates so far.Pl arrange to send the same immediately and inform position by retun e-mail.

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Manshu June 3, 2010 at 4:19 AM

You need to talk to your broker, this site or none other like this can help you as this is just a blog not related to them in any manner.

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Ankita Kothari July 17, 2010 at 1:16 AM

I have a FDR’s of ICICI HFC vide Certificate No. 600015676. TDS was deducted on monthly basis but TDS certificate for 2009-10 not received. Kindly send the same.

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Manshu July 20, 2010 at 3:54 PM

Please talk to the person who sold you, he or she might be able to help you.

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g k agrawal September 14, 2010 at 10:40 AM

I have not received from ICICI Home Finance Ltd., the maturity proceeds of my Fixed deposit receipt no. 333H0086929 C 20 dated 24.12.08 for rs. 40000/- since matured on 24.08.10 for maturity value Rs. 47956.94 in the names of Gopal Krishna Agrawal and Nitin Kumar Agrawal. i do not have ICIC I Home Finance FD customer care e mail to pursue the matter with them can you pl help me out. thanks and r egards g k agrawal M 09821320852

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India International Forum of Cardiology December 21, 2010 at 2:49 AM

We are holders of the following ICICI Home Finance FDRs, 333H0062348/333H0062354/333H0062359/333H0062359/333H0062367/333H0062372. we have been trying frantically to reach your offices in mumbai but of no avail
We are in urgent need of the Interest and balance certificate for the year ended 31/03/2010 for our ongoing Audit
Kinldy mail us a soft copy ASAP and courier the hard copy to our address which is with you
Thanks
Savio

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Manshu December 21, 2010 at 8:54 AM

You have left a comment at a private blog not affiliated with ICICI so it’s not likely that this comment will lead to much benefit for you. Please contact ICICI Home Finance directly (this link has their contact details), and they should be able to help you.

Reply

nilesh modi August 25, 2011 at 8:50 PM

our valued clients MR. pravin harikrishna surti F.D.R. no333H005472 & MRS. indira arvind surti F.D.R.no 333Hoo5478 had either lost or misplaced your company original fdr. kindly advice us to get duplicate fdr of icici home finance co.ltd.

Reply

Manshu August 25, 2011 at 10:01 PM

This is like a newspaper Nilesh – please talk to the bank and get the issue resolved.

Reply

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