Recurring Deposit
Icici Bank RD Interest Rates

Icici Bank RD Interest Rates

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ICICI Bank RD Interest Rates Oct 2024

Tenure	Normal Citizen RD Rate	Senior Citizen RD Rate
3 Months to 6 Months	4.75%	5.25%
6 Months to 9 Months	5.75%	6.25%
9 Months to 1 Year	6.00%	6.50%
1 Year to 2 Years	6.70%	7.20%
2 Years to 3 Years	7.00%	7.50%
3 Years to 5 Years	7.00%	7.50%
5 Years to 10 Years	6.90%	7.50%

Note: All interest rates shown above are as on 1st November 2023

ICICI Bank RD Scheme Details

Tenure	6 Months -10 Year
Public Interest Rates	4.75% to 7.00%
Senior Citizen Interest Rates	5.25% to 7.50%
Minimum Deposit Amount	Rs. 500
Premature Withdrawal	NA
Highest Rates for Public	7.00%
Highest Rates for Senior Citizen	7.50%

ICICI Bank Returns Based on Investment Amount

Investment Amount	For 3 years with interest of 7.00%	For 5 years with interest of 6.90%
₹ 50,000	₹ 1,51,747	₹ 2,54,321
₹ 1 lakh	₹ 3,03,493	₹ 5,08,642
₹ 2 lakh	₹ 6,06,987	₹ 10,17,283
₹ 5 lakh	₹ 15,17,466	₹ 25,43,208
₹ 10 lakh	₹ 30,34,933	₹ 50,86,415

Compare ICICI Bank vs Punjab National Bank Recurring Deposit

Punjab National Bank


Maturity Amount	₹ 3,03,493	₹ 3,02,621
Total Investment Amount	₹ 3,00,000	₹ 3,00,000
Total Interest Gained	₹3,493	₹ 2,621

Compare RD Interest Rates of Other Banks

Bank Name	RD Interest Rates
Punjab National Bank	4.40% to 6.50%
City Union Bank	5.75% to 6.50%
BOI Bank	4.50% to 6.50%
Canara Bank	5.25% to 6.90%
Indian Bank	3.50% to 6.70%
BOB Bank	4.50% to 7.05%
Central Bank of India	4.50% to 6.75%
Karur Vysya Bank	6.00% to 7.00%
Union Bank of India	4.30% to 6.70%
Tamilnad Mercantile Bank	5.75% to 7.00%
Karnataka Bank	5.25% to 7.00%
Dhanlaxmi Bank	6.50% to 6.75%
South Indian Bank	4.50% to 6.50%
Federal Bank	5.00% to 7.30%
Bank of Maharashtra	4.50% to 6.00%
Indian Overseas Bank	4.50% to 6.80%
UCO Bank	4.50% to 6.50%
RBL Bank	4.75% to 7.50%
State Bank of India	4.50% to 7.00%
IDBI Bank	4.50% to 6.80%
Axis Bank	4.75% to 7.10%
HDFC Bank	4.50% to 7.10%
Indusind Bank	4.75% to 7.50%
Kotak Mahindra Bank	4.00% to 7.10%
Yes Bank	5.00% to 7.75%
Bandhan Bank	4.50% to 7.25%
IDFC First Bank	5.00% to 7.50%
Equitas Small Finance Bank	7.25% to 8.20%
Capital Small Finance Bank	4.75% to 7.15%
Ujjivan Small Finance Bank	4.75% to 7.50%
Fincare Small Finance Bank	5.75% to 8.25%
ESAF Small Finance Bank	5.25% to 8.50%
North East Small Finance Bank	4.00% to 7.50%
Suryoday Small Finance Bank	5.00% to 8.50%
Utkarsh Small Finance Bank	6.50% to 8.00%
Jana Small Finance Bank	4.00% to 8.50%
DBS Bank	3.00% to 7.50%
Post Office	6.90% to 7.50%

Frequently Asked Questions

What is the current interest rate of RD in ICICI Bank?

The current highest ICICI Bank RD rates for general citizen range from 4.75% to 7.00% and for senior citizen it ranges from 5.25% to 7.50% today 2024-10-22

How to open rd account in ICICI Bank?

ICICI Bank RD account can be opened with a minimum deposit of Rs. 500 with tenure ranging 6 Months -10 Year. ICICI Bank recurring deposit account can be opened online or by visiting ICICI Bank branches with any ID proof like PAN card, Aadhar card, voter ID, or driving licence etc.

How to close rd in ICICI Bank?

You can close your RD a/c online through "Close A/c" tab or by visiting the branch, this may cost you a penalty. The current premature closer penalty in ICICI Bank RD is NA.

How to calculate maturity and interest in ICICI Bank recurring deposit ?

The maturity amount in ICICI Bank recurring deposit account can be calculated by using A = P x(1 + R / N) ^ (NT) formula.
Where:
A: Maturity Amount
P: Recurring Deposit Amount
N: Number of times the interest is compounded
R: annual interest rate
T: Tenure
Example:
If you open recurring deposit account at the ICICI Bank for 5 years and planed to invest INR 50,000.The current ICICI Bank RD interest rate for 5 year is 6.90%.So using the above formula the maturity amount will be - Rs. 35,87,160.

What is ICICI Bank RD interest rates for 1 year in 2024 ?

The ICICI Bank recurring deposit for 12 months or 1 year is 7.20% for senior citizen and 6.70% for others.

Calculate ICICI Bank Returns

Investment Amount

Investment Period (in months)36

Interest Rate3.2 %

₹1,00,000

Total Investment

Wealth Gained

₹0

Maturity Amount

Invest in SIP to earn ₹37,83,253 moreExplore Best SIP Plans

About ICICI Bank Recurring Deposit

ICICI Bank recurring deposits allow investors to invest in small amounts regularly for a fixed tenure. ICICI Bank recurring deposit rate ranges between p.a. for regular citizens. For senior citizens, the RD interest rates range between p.a. Also, ICICI Bank rd interest rates are higher than its saving account rates.

Frequently Asked Questions

What is ICICI bank’s minimum recurring deposits amount?

Yes, ICICI Bank recurring deposit account requires a minimum deposit amount of INR 100 per month, and also there is no maximum limit on the deposit amount.

Can I open a ICICI recurring deposit account for a minor?

Yes, a minor can open ICICIC Bank recurring deposit account, however under the guardianship of their parents or legal guardian.

How to apply for ICICI Bank RD?

One can open an ICICI Bank recurring deposit account through offline and also online modes. To be able to invest in ICICI RD, one needs to have the following valid documents.
For identity proof, one needs to have the following:
driving license,
voter ID,
Aadhar card,
PAN card,
senior citizen card,
For residence proof, one needs to have the following:
passport,
utility bills,
bank statement with cheque,
certificate given by Post Office.

Is it possible to renew an ICICI RD account?

No, it is not possible to renew an ICICIC Bank RD account.

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