Mention the special features of Inter-corporate deposits

The main features of inter-coporate deposits are as follows:

  1. Period of deposit: Minimum period for which ICD is deposited is 90 days and maximum period is 180 days. However, after the expiry of this period, the deposit may be renewed if both the parties agree.
  2. Amount of deposit : Minimum deposit amount which can be raised is 1 lakh and there is no limit on the maximum amount.
  3. Interest rate: Interest rate varies from 12 to 17% per annum.