Money is the thing for which we all work day and night, it the basic necessity for us to survive in this world. We all have money with us and we all try to increase the amount of money which we have with us by investing it. And when it comes to invest our money somewhere there are number of place where you can invest and get your money almost doubled but the thing is the risk level which is very high these days. If you want to invest your money in Stock market, you can really make good amount of money but the risk level is very high in Stock market if you don’t invest in on the right stocks.

Our Business Banking Fixed Deposit is a savings option which pays you a fixed rate of interest for a fixed term. Save with a fixed interest rate for a range of term options of 6 months, 1 year, 2 years, 3 years or 5 years. Deposits available in GBP and USD currencies. No requirement of Minimum Deposit. You need ICICI Bank's Fixed Deposit, which gives you a superior rate of return. Besides a range of currencies, the account also gives you the option of investing your funds for various durations of time, starting from just one month. Go ahead, choose the one that suits you best.

Icici Bank Fixed Deposit Rates

Icici Bank Fixed Deposit Calculator

But Fixed deposits is the only way where your money will grow with time with risk level which is almost equal to zero. So fixed deposits are very good for us to increase the money we have with us. But if you want to break Fixed deposit in ICICI Bank which you have made there and searching online for an article online in which you will find information regarding how you can make premature withdrawal of your fixed deposit. Then you have landed on the right website. Because in this guide you will find information about this.

Contents

What is Premature Withdrawal of Fixed Deposit?

ICICI Bank Fixed Deposit Interest Rates (2020) Remember that ICICI Bank’s savings account interest rate is 3.25 – 3.75%. Here are the ICICI Bank Fixed Deposit Interest Rates or ICICI Bank Sweep In Deposit Facility Rates (2020) for various tenures: ICICI Fixed Deposit (7 days to 14 days): 3.25%; ICICI Fixed Deposit (15 days to 29 days): 3.5%. Minimum Fixed Deposit amount of ₹ 10,000; Flexibility of tenure - 7 days to 10 years; Loan / Overdraft upto 90% of FD amount.

Lock in attractive fixed interest rates and eliminate exposure to interest-rate fluctuations. Choose from a wide range of maturities from as short as 3 months to as long as 5 years. The interest paid by ICICI Bank Limited, New York Branch on CDs can be withdrawn at regular intervals at no charge. The minimum deposit amount is $250,000.

But before that I would like to tell you about what is Premature withdrawal actually is? So here is the answer. It is nothing but when you have made a Fixed Deposit for some tenure and you want to withdraw the amount before your fixed deposit gets matured. For example you have made a FD of 1 Lakh INR for a tenure of 12 months (1 Year) and now you want to withdraw your money which which is 1 Lakh INR before 1 year period. This process of withdrawal of money before the actual tenure of FD is called as Premature withdrawal of Fixed Deposit.

How to Break Fixed Deposit in ICICI Bank?

So now lets get started with this guide and check out the procedure which you need to follow to break fixed deposit in ICICI Bank. The process is very easy and you can do it with few steps, I have mentioned them below.

• The first thing you need to do is you have to write a application to your branch manager regarding the Premature withdrawal of your FD. You can refer the letter sample which I have mentioned below.

To:

Branch Manager,

ICICI Bank,

Camp, Belgaum

Subject: Premature Withdrawal of Fixed Deposit.

Respected Sir,

I am Subhash Sharma and I had opened a FD in your branch on 01/06/2016 whose tenure was of 1 year but I want to withdraw the money now. My FD Number is 0000-0000-0000 I request you to break my FD and deposit the money to my Savings Bank account Number XXXX-XXXX-XXXX-XXXX.

I have attached the my PAN Card photocopy as my Identity proof with this application.

Icici Bank Fixed Deposit Rate

Regards,

Subhash Sharma

• As soon as you complete writing this application to your ICICI Bank branch manager now you need to take a photocopy of your PAN Card and make your signature on the photocopy and attach it with the application form.
• Now at last you need to visit your home branch where you had opened your FD and submit your form. And you are done with it.

Icici Bank Fixed Deposit Interest Rates

Note: When you break your FD before it tenure is completed, a penalty will be applied to you. You can ask for the penalty amount which is applied on you at your home branch. Some banks don’t apply penalty and some apply it.

Icici Bank Fixed Deposit Rate

Final Words.

Icici Bank Fixed Deposit Form Download

So this was all about how you can break fixed deposit in ICICI Bank. I hope you are clear with all the steps which I have mentioned in this guide. If you have any kind of doubts you can comment below.