As we grow older, we embark on a new journey called retirement. It’s a time to relax, pursue our passions, and spend quality time with loved ones. However, financial stability remains a priority even during these golden years. That’s where Fixed Deposits (FDs) come into play, offering a safe and reliable investment option. If you are a senior citizen looking to maximise your returns, ICICI Bank’s Golden Year Fixed Deposit scheme is here to cater to your needs. This article will explore the Senior Citizen Fixed Deposit Interest Rates offered by ICICI Bank, one of India’s leading financial institutions. So, sit back, relax, and embark on this financial journey together.

Familiarising with Senior Citizen FDs

Before we dive into the interest rates, let’s take a moment to understand what a senior citizen FD is. Simply put, it is a type of deposit account offered by banks that provides senior citizens with higher interest rates than regular ones. This scheme aims to support and reward senior citizens for their lifelong contributions and ensure financial security during their retirement years.

Interest Rates that Speak Volumes

ICICI Bank understands the unique needs and requirements of senior citizens, and that’s why they offer attractive interest rates on FDs. These rates are designed to provide a steady income stream while ensuring the safety of your hard-earned money.

Let’s take a look at the interest rates for senior citizens on domestic, Non-Resident Ordinary (NRO), and Non-Resident External (NRE deposits) (Less than Rs 5 Crore) as of May 24, 2023:

Maturity PeriodInterest rates (per cent per annum)
7 days to 14 days4.75%
15 days to 29 days4.75%
30 days to 45 days5.50%
46 days to 60 days5.75%
61 days to 90 days6.00%
91 days to 120 days6.50%
121 days to 150 days6.50%
151 days to 184 days6.50%
211 days to 270 days6.65%
271 days to 289 days6.75%
290 days to less than 1 year6.75%
1 year to 389 days7.25%
390 days to <15 months7.25%
15 months to <18 months7.00%
18 months to 2 years7.00%
2 years to 1 day to 3 years6.75%
3 years 1 day to 5 years6.75%
5 years 1 day to 10 years6.75%
5 years (80C FD) – Max to 1.50 lacNA

Exciting, isn’t it? With interest rates as high as 7.60% on certain tenures, ICICI Bank ensures that your FD grows steadily over time, allowing you to make the most of your savings during your golden years.

Whether you’re looking for a short-term investment or a long-term plan, ICICI Bank has got you covered. And the best part? Senior citizens enjoy even higher interest rates compared to the general public, allowing them to earn more from their FDs.

To give you a better idea of how these interest rates can benefit you, let’s consider an example using the ICICI Bank FD Calculator. Suppose you’re a senior citizen and decide to invest Rs 10 lakh in an FD for 5 years. Let’s see how your investment grows:

  • Principal amount: Rs 10 lakh
  • Maturity period: 5 years
  • Interest rate: 7.50% per annum (as per senior citizen rates)

Using the FD Calculator, we find that at the end of 5 years, your maturity amount will be approximately Rs 14,49,948. That’s a handsome return on your investment, thanks to the attractive interest rates offered to senior citizens by ICICI Bank.

Golden Years FD – Unlock the Pot of Gold

But wait, there’s more! ICICI Bank has introduced a special FD scheme exclusively for senior citizens called the “Golden Years FD.” This scheme offers senior citizens additional benefits and higher interest rates to make their golden years truly golden. Let’s explore the features of the Golden Years FD:

  • Higher Interest Rates: ICICI Bank’s Golden Years FD is an excellent investment option for senior citizens, offering interest rates that surpass the additional rate granted on retail term deposits. Senior citizens can enjoy an attractive interest rate of 7.5% by investing in the ICICI Bank Golden Years FD. This means that your savings will grow at an accelerated pace, providing you with enhanced financial independence during your retirement.
  • Flexible Tenure Options: You can choose a tenure ranging from 1 year to 10 years, depending on your financial goals and requirements. The Golden Years FD allows you to select a duration that suits your needs best.
  • Additional Benefits: Apart from the attractive interest rates, the Golden Years FD provides senior citizens with a host of other benefits, such as nomination facilities, convenient access to your funds, and flexible interest payout options.

The offer is applicable on a single FD amounting to less than Rs 2 crore. It’s a hassle-free process, and you can visit your nearest ICICI Bank branch or apply online through the official website.


As we bid adieu to this insightful journey through ICICI Bank’s Senior Citizen Fixed Deposit Interest Rates, it’s evident that investing in FDs is a smart move for senior citizens seeking stable returns. ICICI Bank’s attractive interest rates and the Golden Years FD scheme provide a golden opportunity to make the most of your savings during your retirement years. So, don’t wait any longer—take advantage of these exceptional offerings and secure your financial future today!

Remember, it’s always wise to consult with a financial advisor or visit the bank’s official website to stay updated on the latest interest rates and schemes before making investment decisions. Happy investing, and may your golden years be filled with prosperity and peace of mind!

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