Fixed Deposits
Flow of Presentation
About ICICI HFC Introduction Industry Scenario Regulatory perspective ICICI HFC - Product Features Benefits Eligibility Documentation Process Flow Pricing Pre-mature withdrawal (terms) FAQs
ICICI Home Finance Today
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1000+ Employee
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ICICI Home Finance - Presence
Individual Home Loans Home Equity (Loan Against Property)
Property Services
Construction Finance Real Estate Research & Advisory
Loan Syndication
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Why ICICI HFC Fixed Deposit ?
Highest Safety Attractive Return
Quick Loan Facility
Nomination Facility High Service Standard
Pre Mature Withdrawal Facility
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Introduction
Fixed Deposits (FD) saving option deposit lump-sum amount specific tenure paid back on maturity Cumulative FDs Interest is accumulated Interest on monthly/quarterly/annual/ Annual compounding Other players Nationalized Banks, Cooperative Banks, NBFCs, HFCs, other Corporates
Industry Scenario
Nationalized Banks are the largest players HDFC Ltd. - largest player in the HFC segment ICICI HFC Ltd. Other players LICHFL, HUDCO, Dewan Housing Finance, GICHFL, Sundaram Finance Ltd., GRUH Finance Ltd., IDBI Home Finance etc.
Regulatory Perspective
Pre-Conditions for deposit acceptance
registered with NHB NHB approval to accept FD FD - preferably rated (CRISIL, ICRA, CARE or FITCH) Non-rated HFC FD
Total FD - Lower of 2 times Net Owned Fund (NOF) or Rs 10 cr Total FD - 5 times NOF
Rated HFC FD
Regulatory Perspective
Regulator RBI - Banks & NBFCs NHB – HFCs SLR requirement Banks - 25% HFC – 12.5% CRR requirement Banks – as defined by RBI from time to time HFC – Not applicable Tenure Banks
7 days to 10 years
HFC
RI - 1 year to 7 years NRI - 1 year to 3 years
ICICI HFC FD - Product features
Deposit tenure – Minimum 12 months
Deposit tenure – Maximum
Type of Rate Minimum deposit amount Maximum deposit amount Interest payment frequency
84 months
Fixed Rs. 5,000.00 Rs. 50 million Monthly, Quarterly, Annual & Compounded Annually
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ICICI HFC FD - Product features
No. of depositors Credit Rating Nomination facility Minimum 1 & Maximum 3 CARE – AAA & ICRA – MAAA Allowed
Premature withdrawal TDS on interest on deposit
Eligible depositors
Allowed Interest earned upto Rs. 5,000.00 in a FY exempt
Individuals, HUF, AOP, NRI, Trusts, Foundations, Coop. Societies, Firms, & Corporates
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ICICI HFC FD - Product features
Sr. Citizen Single deposit of Rs. 10 Lac & above Deposit mobilization Brokerage & Incentives Additional ROI - 0.25% Additional ROI - 0.25% (applicable for both Individuals & Non-individuals) Direct & through Brokers Yes (tenure based & deposit amount based) • Advance interest warrants Mode of Interest payment • Direct credit to ICICI Bank account holders
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ICICI HFC FD - Product features
Loan Against Deposit (LAD)
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Upto 75% of principal deposit
• After 3 months
• Charged
Interest on LAD
@ 2% over and above the rate at which deposit is placed
• Applied at the same frequency (as applicable to deposit)
Allowed (repayment allowed twice in a year including interest payment) Not allowed (LAD is available for Individuals & HUFs only)
Repayment of LAD LAD in case of Deposit by Minor
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Benefits
Wide choice of tenure starting from 12 months upto 84 months Flexibility of amount to be deposited starting from as low as Rs. 5,000 per application and more (in multiples of 1000s) Acceptance of Deposits at all ICICI HFC retail offices Interest earned upto Rs. 5,000.00 in a FY exempt Deposits placed by Trusts qualify under the category of Specified Investment as defined under section 11(5)(ix) of Income Tax Act 1961 Guaranteed returns as against low returns of Debt funds in volatile interest rate regime Lower risk vis-à-vis Mutual Funds/Investment in Equity
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Benefits
Other Advantages –
Provides liquidity and fulfills a periodic requirement of funds without sacrificing long term returns Suitable for regular income from investment Suitable for deploying large investment amounts
When you consider allocating funds among various investment avenues, fixed deposits would form an integral part given their –
Safety Fixed returns Liquidity
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Eligibility
Eligible entities as depositors
Resident Indians NRIs Association of Persons (AOPs) Hindu Undivided Family (HUFs) Trusts and Foundations Co-operative Societies Firms Companies
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Documentation
Documentation includes –
Completed Deposit Application form Deposit Amount Cheque/DD drawn on any ICICI Bank Location KYC & other documents –
Individuals - photo id proof, address proof, age proof for Senior Citizen’s deposits. Non-Individuals - documents would also include Certificate of Registration, Board/Managing Body Resolution, etc.
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Process Flow
Broker/Customer submits completed FD App. Form at the FD desk at ICICI HFC office FD Desk does NDC and accepts or rejects the application Accepted applications are sent to 3i Infotech (3i registrar to ICICI HFC FD program) after minimum data entry FD & post dated interest warrants are issued and dispatched to the depositor by 3i
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Pricing
S. No. 1 Tenure (Mths) 12 to 84 Ann/Cum 10.75% Qtrly 10.35% Mthly 10.25%
0.25% additional for senior citizen 0.25% additional for FD above Rs. 10 lacs
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Special Scheme- Limited Period Offer
Tenure (Mths)
S.No 1 2 3 4 5
Ann/Cumm Quarterly Monthly For FDs < 15 lac 15,20 & 30 11.15% 10.75% 10.65% 40 & 50 11.00% 10.60% 10.50% For FDs > = 15 lac 15,20 12.00% 11.50% 11.40% 30 11.50% 11.10% 11.00% 40 & 50 11.00% 10.60% 10.50% 0.35% additional for senior citizen across slabs
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Premature Withdrawal
Premature withdrawal is not allowed for the first 3 months. In the event of premature withdrawal following terms are applicable –
Withdrawal between 3 – 6 months Withdrawal between 6 – 12 months
No interest shall be payable 3% lower than the minimum rate at which public deposits are accepted by ICICI HFC 2% lower than the rate applicable for the completed tenure of deposit
After 12 months but before maturity
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