How to open a fixed deposit account online at ICICI Bank?

FDs have been a popular investment option for most as they offer easy access and guaranteed return. Even when the market is volatile, you continue to earn the promised interest on your deposit. In short, it protects your financial future and ensures wealth generation. Many financial institutions in the market offer a chance to open a fixed deposit account, and ICICI Bank is one of the prominent ones among them. Besides all the perks of an FD, ICICI Bank has streamlined the entire investment process, benefiting almost everyone. So, read on to learn how to open an FD account with ICICI Bank. How to open an FD account with ICICI Bank? The introduction of online banking services has eased the process of investing, as you can invest in an FD from the comfort of your home or anywhere else. Here is a detailed guide on how you can invest in an FD with ICICI Bank - Using the mobile app

1. You can use the mobile banking application (iMobile Pay) to invest in an FD. For that, first, you need to download and install the app if you do not have it already
2. After that, you need to complete the login process and select the ‘Account and Deposits’ option
3. Following that, you must fill in the details of your deposit: deposit amount, tenure, payout option, etc.
4. Submit the application along with the scanned copies of the required documents
5. As soon as you complete these steps, you will get confirmation of your investment through your registered contact details

Using the website

• First, you need to go to the official website of the ICICI Bank (https://www.icicibank.com/) and go to the ‘Invest’ option on the home page
• After that, select the ‘fixed deposit’ option from the drop-down menu
• Once done, it will take you to the next page, where you will find the ‘Start your FD now’ option
• After you click on it, you need to log in to your net-banking account, and you then need to complete the requirements of opening the deposit, which includes selecting the deposit amount, the tenure, the interest payout option etc.

To complete this step, you need to check the ‘I Agree box and then continue to create an FD After that, you must submit the documents needed to complete this process. As you complete all these steps, you will get a notification confirming your investment via your registered contact details. This is an overview of how to open an FD account with ICICI Bank online. But, if you want to complete this process offline, you can visit the nearest ICICI Bank branch and go through the process. Documentation required to open an FD with ICICI Bank To open an FD with the ICICI Bank, you need to submit your ID and address proof, which will include the following -

• Aadhaar Card
• Voter ID card
• Passport
• Driving Licence
• NREGA-issued Job card issued
• Letter from the National Population Register

Now, if the address mentioned in the documents mentioned above is not your present communication address, then you need to submit the following -

• Utility bills that are not older than two months
• Property tax bill issued by the municipality that is not older than a year
• Letter of allotment from the employer
• Rent or lease agreement

Hopefully, now you know what to do to open an FD with ICICI Bank. But, before you move on to invest in one, you need to know how it can benefit you. Advantages of investing in an FD with ICICI Bank Here are the benefits you can get when you invest in an FD with ICICI Bank - 

• Attractive interest rate: The current interest rates on the FDs from ICICI Bank are attractive. And, since they remain constant throughout the tenure, you earn handsomely once the deposit matures.
• Flexible tenure: An FD from ICICI Bank ranges from 7 days to 10 years. So, whether you have a short-term or long-term financial goal, this FD can meet all the requirements.
• The additional interest rate for the senior citizen: If you are a senior citizen, you will earn an extra per annum of your deposit. You can check out specific FD rates on the ICICI bank website.
• Overdraft on the FD: Another notable advantage of investing with ICICI Bank is that you can receive financing against your FD of up to 90% of the deposit value. The upside of this facility is that you can solve all your monetary requirements without breaking the FD prematurely.
• Automatic renewal facility: With ICICI Bank, you can renew your FD without hassle. Once you select the auto-renewal option, the bank will reinvest your total maturity amount for the selected period.
• Easy to invest: Lastly, investing with ICICI Bank is convenient. You can do it online and offline, and the mobile banking app allows you to stay on top of your investment and manage it easily.

Final thoughts To sum up, opening an FD in the current scenario is not an issue, especially with online services' availability. And, when you do it with ICICI Bank, you can take advantage of all their benefits and grow your investment securely and safely.