ICICI, one of the trusted names in the financial market, provides an option of safe-keeping your money, while giving you some amount as interest. It offers fixed deposit account in various foreign dollar currencies like Australian dollars (AUD), Canadian dollars (CAD), Euro, Sterling Pound (GBP), United States dollars (USD) and Singapore dollars (SGD). One of the most popular currencies for a fixed deposit account happens to be the United States dollars (USD).
It offers various tenors from 1 months to 36 months. You can lock in amounts up to USD100,000.
A fixed deposit account can be opened by single individuals or as a joint account. However, the interest rates are different for individuals and non-individuals.
ICICI also offers auto-renewal of the account at maturity. You could instruct the further action to the bank once your amount reaches maturity.
To open a fixed deposit account, you will have to visit the branch of the bank with original documents like identity proof and address proof so that the bank can verify it.
Overview of United States Dollar Foreign Currency Fixed Deposit scheme offered by ICICI Bank
ICICI Bank is one of the leading banks in the world that offers great financial products and services for its customers. The foreign currency fixed deposit scheme offered by ICICI Bank comes with different features and benefits and allows you to enjoy a lot of flexibility. When it comes to savings, people often choose fixed deposits as you can save your money and also earn interest for making the investment. The placement that you make is absolutely safe with the bank. You can keep a track of your money through online banking and mobile banking. This way, you also get to know that where exactly your money is going.
You must understand that saving money is equally important as earning money. You might earn a lot for yourself and your family, but if you do not save some for your future then you might land into trouble. Financial crisis situations never knock on the door before walking into your life. Make sure that you have saved enough money to tackle such situations when to arrive. This particular scheme offered by ICICI Bank, comes with flexible tenures and attractive rates of interest. The placement that is made by you renews itself upon maturity.
ICICI US Dollar Fixed Deposit Account interest rates
The interest rates for individuals range from 0.75% to 1.90% p.a. and those for non-individuals range from 0.70% p.a. to 1.45% p.a. Since banks tend to change their interest rates without prior notification, it is advisable to check the latest interest rates before making a decision.