A fixed deposit is a preferable choice for your investment needs since it has many advantages. Investing in a fixed deposit involves low risks and less uncertainties when compared to stock market investments. The benefits of having a fixed deposit include – guaranteed returns, flexible tenures, higher rate of interest, tax benefits, etc.
The tenure options for an ICICI Australian Dollar fixed deposit range from 1 month to 36 months. To make it easy and hassle-free for customers, ICICI offers foreign fixed deposit with an auto-renewal feature. ICICI also helps you to set prior instructions on how to deal with your maturity amount.
ICICI Australian Dollar fixed deposit can be opened either in the name of a single holder or multiple account holders.
In addition to Australian Dollars, there are other foreign currency options that are available:
- Great Britain Pounds
- United States Dollars
- Singapore Dollars
- Canadian Dollars
Overview of Australian Dollar Foreign Currency Fixed Deposit Scheme
It is a very good thing that you have a job that pays you well. That means, you can enjoy your life to the fullest and achieve all your goals in life. If you have enough money for yourself, you can go ahead and buy a car or a house for yourself. You can take your family out for an exotic vacation. But you must keep in mind that earning well in not enough all the time. You must also save substantially for future. Financial crisis and hit you at any point in life, without giving prior notice. If you do not have substantial amount of savings, it will be a problem for you to tackle such situations. When it comes to savings, the people of Singapore trust in fixed deposits. With fixed deposits, not only is your investment safe in the bank, but also you can earn a lot as interest on the placements. ICICI Bank is one of leading banks in the world and choosing their Foreign Currency Fixed Deposit can definitely be a good option. The minimum placement with which you can start a Foreign Currency Fixed Deposit account with ICICI Bank must be equivalent of SGD 5000. You can choose from several currencies for your foreign currency fixed deposit. AUD or Australian Dollar is one of them. The placement that you make renews itself upon maturity. You can also choose from a wide range of tenures. The rates of interest offered with ICICI AUD Fixed Deposit are also attractive.
Interest Rate for ICICI Australian Dollar Fixed Deposit
The rate of interest range from 1.10% to 1.75% p.a. The interest rate on your fixed deposit depends on the tenure you choose. Interest rates are subject to change without any prior notice.