Things you should know

  • Interest rates

    Fixed Deposit interest rates are regularly published on the website and revised as applicable

  • TDS for residents

    Tax deducted at source (TDS) applies to interest payouts to resident Indian entities

  • Premature closure

    Premature withdrawal penalty will apply on the FDs. Interest will be paid at the rate applicable on the effective date of such deposit up to the period for which such deposit remains with the Bank, and will be subject to payment of applicable penal charges

  • TDS exemption

    No TDS is deducted on interest payouts to non-resident entities, provided they have no income tax liability in India

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FAQs

Who is eligible to open a Fixed Deposit in GIFT City?

Eligible entities include corporates physically based in GIFT City IFSC, overseas entities with India & ICICI Bank linkages and resident Indian entities permitted under FEMA guidelines to open Fixed Deposit in GIFT City.

What is the minimum deposit amount required?

The minimum amount required to open a Fixed Deposit is 1,000 foreign currency units.

Disclaimer

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