With an ICICI HiSAVE Fixed Deposit, you’ll earn guaranteed returns on your savings. The interest rate ranges from 0.45% p.a. to 0.85% p.a. The tenures for this fixed deposit ranges between 3 and 36 months. Also, you’ll have multiple interest payout options to choose from.
Features and Benefits of This Account
- Tenure options include – 3, 6, 9, 12, 18, 24, and 36 months.
- You need to make a minimum deposit of S$1,000 initially.
- Your interest payout options are as follows:
- Half yearly
- On maturity
- You’ll have access to online banking.
What Interest Rates Are Offered
|Term||Interest Rate (p.a.)|
Who Is Eligible to Open This Account?
- You need to be a Singapore citizen, Permanent Resident, or a foreigner.
- You need to be at least 21 years old.
- You need to have an existing savings or a current account with any of the qualifying banks in Singapore.
- In case you want to open a joint account, you need to make sure that the linked account is also owned by the same individual.
What Documents You Would Need
You need to submit any one of the documents mentioned below as your address proof. Also, any document you submit should not be more than 3 months old.
- Original bank statement
- Original utility bill
- Original credit card statement
- Original phone bill
Identity proof:Permanent Residents/Singapore citizens:
- Self-signed NRIC copy(inclusive of both sides)
- Self-signed copy of WP/EP/SP/DP (both sides)
- Passport copy (including Visa page if required)
How to Apply for a HiSAVE Fixed Deposit
If you’re a new customer, follow the steps mentioned below:
- Visit the bank’s official website and click on the option “Apply Now”.
- Key in your details in the Account Opening Form through the online portal.
- Choose a password for your login and get your account number and customer ID.
- On completing the steps mentioned above successfully, you will be able to generate a PDF with your details.
- Print your PDF file, attach the mandatory documents that are applicable and send it over to the address given below:
ICICI Bank Ltd.
6 Raffles Quay,
- You can perform initial funding only through an account you intend to link to your HiSAVE Account (as per the details you have mentioned in your application form).
- You can fund your account either through a cheque or an online funds transfer option.
If you’re an existing customer, follow the steps mentioned below:
- You need to log in to internet banking, click on the option “Open a HiSAVE Savings Account”, and complete the application form accordingly.
Q. What are the points to consider to open a joint account?
A. Points to consider when you intend to open a joint account include:
- For a HiSAVE account, you’re allowed to have only 1 account holder.
- The PDF copy of the Account Opening Form (AOF) should have signatures of both the account holders.
- Mandatory documents of both the concerned joint account holders will be needed, also relevant documents need to be attested by both the account holders.
- Every document has to be self-certified.
- Make sure that the holding pattern is the same for both your linked account as well as your HiSAVE account.
Q. Are the ICICI Singapore dollar fixed deposits insured?
A. Yes, SGD fixed deposits of up to S$50,000 are insured by the Singapore Deposit Insurance Corporation.
Q. What are the key points I need to check on my application form?
A. You can perform the following checks:
- Check for your signature on the application form.
- The application form should have your name as per your EP/NRIC/DP/WP.
- The account details (that needs to be linked) mentioned in your application form needs to be accurate.
- All pages of the mandatory documents need to be self-attested by you.
- Changes or handwritten corrections are not allowed on the application form.
Q. What are my currency options to open a HiSAVE Fixed deposit account?
A. Currently, you can open a HiSAVE Account only in Singapore dollars.
Q. Whom can I contact in case I have a query regarding the application procedure?
A. You can call the hotline numbers given below:
- 800 1012553 (Singapore Retail - IVR Option 1)
- Overseas: (65) 67239009 (Call charges may be applicable)
Q. Can I apply for a HiSAVE Account with only an existing deposit account with ICICI Singapore branch?
A. In case you only have an existing deposit account with ICICI Singapore branch, you’ll need to open a Current Account prior to applying for a HiSAVE Account.