Fixed Deposit FAQs

Fixed deposit is a savings proposition that can help you improve returns on your savings. Interest rates offered on these deposits vary with the tenure, value and currency of the deposit. In fixed deposit money deposited is held for a fixed term at a fixed interest rate with a penalty applicable on premature withdrawal.

Fixed deposits are currently offered to individual customers only on fixed rate basis.

The currencies acceptable for a fixed deposit account are HKD, USD and RMB. The minimum deposit requirement vary with each currency, you can confirm the minimum deposit requirements by contacting our Relationship Managers or visiting our Branch.

You can deposit money for as short a period as 7 days and upto maximum of 1 year.

Interest rates offered on these deposits vary with the tenure, value and currency of the deposit. As the rates applicable vary on a weekly basis, you can confirm the interest rates applicable by contacting our Relationship Manager/ Customer Service Manager or visiting us at the Branch. You can also check the rates at Term Despsits Interest rate page.

The branch offers the interest payouts at specific periods - Cumulative deposits (at maturity of the deposit), Annual Payouts, Semi-Annual Payouts, Quarterly Payouts & Monthly Payouts.

Yes, in case of premature withdrawal subject to protection of the principal, the amount repayable to the customer will be calculated as follows.

1. If deposit is withdrawn within 1 month of opening of deposit, no interest would be payable.

2. In case where the interest has been paid out, the penalty is adjusted against any payment due to the customer. This would mean that even in cases where principal is protected, the amount returned could be less than the principal to the extent of interest already paid out to the customer.

3. Where deposit is withdrawn after 1 month of opening of deposit:

• In case the deposit sought to be broken is held for a period equivalent to a tenure for which deposits are offered by the Bank, the interest on the deposit would be the rate applicable for deposits of such tenure (as existing at the time of opening of the deposit sought to be broken) less 1%.
• In case the deposit sought to be broken is held for a period that falls between two tenures for which deposits are offered by the Bank, the interest on the deposit would be the rate applicable for deposits of the shorter of the two tenures (as existing at the time of opening of the deposit sought to be broken) less 1%.
• In case the interest rate applicable to the deposit is less than 1%, no interest is payable on such deposit. However the principal will be protected.

Yes, you can opt for auto renewal at the time of opening the fixed deposit or anytime before the fixed deposit matures. Auto renewal allows your fixed deposit to get renewed automatically for the same period as the original deposit. However, the rates applicable shall be the rates prevailing at the time of maturity of deposit.

No, fixed deposits are non-transferable and non-negotiable.

It's quite simple. You must contact our Relationship Manager or visit the branch, fill the Relationship Opening Form and furnish the following supporting documents.

1. Proof of Identity:
   
   
   • Hong Kong Permanent Residents – Copy of Hong Kong Permanent Identity Card (HKID)
   • Hong Kong Residents (Other than Permanent Residents) – Copy of HKID and Passport
   • Hong Kong Non Residents – Copy of Passport
     
     
2. Proof of Residential Address – E.g. latest copy of utility bills issued within last 3 months
3. Proof of Permanent Address is required if different from Residential Address

Please note that we would need to see the originals of the above mentioned documents for verification. We request you to bring the original documents with you when you visit our branch for opening a relationship.

Yes, you can hold a fixed deposit account in joint names to a maximum of four account holders. The account operations shall be in accordance with the instructions provided at the time of deposit opening.

The customer will be sent an Electronic Deposit Confirmation Advice (E-DCA) on their registered email ID. If the customer requires a physical Deposit Confirmation Advice (“DCA”), they would need to tick mark on that option in the Relationship Opening Form and same would be sent by normal post or registered post , as per requirement, at his / her communication address, on the opening / renewal of the deposit. If the customer does not select the option for physical DCA on the Relationship Opening Form, only E-DCA would be sent to them

You can contact our Relationship Manager / Customer Service Manager by calling 22342651

OR

e-mail us at hkcustomercare@icicibank.com

OR

Walk into our branch located at:
ICICI Bank Limited, Suite 5703- 5705, Level 57 International Commerce Centre, 1 Austin Road West Kowloon, Hong Kong

You have to provide instructions at the time of deposit placement as to which of your bank accounts you wish to credit the funds on maturity. However, in absence of such instructions or to accommodate any changes of bank account, you can walk into ICICI Bank Hong Kong branch and provide fresh instructions by furnishing your Deposit Confirmation Advice before the deposit maturity date.

In the absence of prior instructions, the deposit along with interest amount would be renewed at the prevailing rate of interest.

For service issues, you may contact our Customer Service Managers at our branch or write in to hkcustomercare@icicibank.com

In case of any complaints, you may write to our Complaint Officer by addressing your complaint/ grievance to The Complaint Officer, ICICI Bank Limited, Suite 5703- 5705, Level 57 International Commerce Centre, 1 Austin Road West Kowloon, Hong Kong or email us at hkcustomercomplaints@icicibank.com.