Fixed deposit scheme is definitely one of the best savings tool to have been invented until now. The savings scheme not only lets individuals put their savings away safely but it also helps them build on it. One of the popular fixed deposit schemes in Singapore is the ICIC fixed deposit scheme. The bank offers fixed deposit scheme that lets you earn on your idle money by depositing it for a couple of years and earning interest on same. As a Singaporean, here is all you need to know about ICICI fixed deposit scheme.
Features of ICICI fixed deposit scheme
Listed below are the features of ICICI fixed deposit scheme:
The scheme offers competitive rate of interest for the scheme.
The scheme comes with flexible tenures.
The scheme can be opened in multiple currencies. Other than Singaporean dollar, the scheme can be opened in United States Dollar, British Pound, Canadian Dollar. Australian Dollar, and Euro.
The fixed deposit can be opened in either a single or joint account scheme.
Easy to apply for.
Can be applied for online.
Minimal documentation.
Benefits of ICICI fixed deposit scheme
Listed below are the features of ICICI fixed deposit scheme:
Automatic Renewal option- The fixed deposit scheme can be renewed automatically once it matures through the auto renewal facility offered by the bank. This will ensure that the account holder does not lose a single day of interest. The account holder can give instructions regarding the time of maturity and as to how to deal with the maturity amount at the time of openeing the account.
Multiple currencies- The account holder has the advantage of opening the account in different currencies other than Singaporean dollar including United States Dollar, British Pound, Canadian Dollar. Australian Dollar, and Euro.
Multiple account holders-The fixed deposit can be opened in either a single or joint account scheme.
How to apply for the scheme?
One can open an ICICI fixed deposit schemes within 3 days. The applicant can visit one of the bank branches in Singapore, fill in the application form, provide the required documents, and fund the account either by cash or cheque.
Documents required
Given below is a list of documents required to apply for the scheme:
Identity proof
Permanent residents and Singaporean citizens- Copy of pink or blue NRIC card
Singaporean residents who are not permanent residents- Employment pass, passport, any document issued by the Singapore government.
Singaporean non residents- Passport copy
Address proof
It is very easy to apply for ICICI bank fixed deposit scheme in Singapore. The scheme comes with a low rate of interest and several benefits. Know more about ICICI bank products here.