Things you should know

  • Eligibility

    Resident Indians with ICICI Bank GIFT City Global Savings Account

  • Funding Limit

    Up to USD 2,50,000 (LRS)

  • Tenure

    Flexible duration from 7–180 days

  • Withdrawal

    Premature & partial withdrawal allowed

  • FD Types

    Callable and Non-Callable Fixed Deposits

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Frequently Asked Questions

What is a Fixed Deposit offered to Resident Indians in GIFT City?

It is a short-term deposit in major global currencies like USD, EUR, GBP, CAD, AED, AUD, SGD, and HKD, offering stable returns with flexible tenure of 7 to 180 days.

Who is eligible to open this deposit?

Resident Indians with an ICICI Bank GIFT City Global Savings Account, valid PAN, ID, and address proof can open an RI – Fixed Deposit under the Liberalised Remittance Scheme (LRS), up to USD 2,50,000 annually.

What are the key benefits of this deposit?

Customers enjoy stable foreign currency returns, multiple currency options, nil exchange risk, premature and partial withdrawal facility, flexible tenure, and easy auto-renewal options.

How can I apply for the deposit?

You can apply online through Retail Internet Banking (RIB) or submit a physical Fixed Deposit form at an ICICI Bank IBU GIFT City branch or via your Relationship Manager.

What happens to unused foreign exchange?

Any received /realised /unspent /unused foreign exchange from onshore India or from locations other than onshore India in Foreign Currency Account (FCA), unless reinvested within a period of 180 days from the date of such receipt/ realization/ purchase/ acquisition or date of return to India shall repatriated through an Authorised Person (AP) to the account of the RI in designated Authorised Dealer (AD) Bank.

Disclaimer

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