• Recurring Deposit
  • Icici Bank RD Interest Rates
Icici Bank RD Interest Rates

Icici Bank RD Interest Rates

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ICICI Bank RD Interest Rates Feb 2024

TenureNormal Citizen RD RateSenior Citizen RD Rate
3 Months to 6 Months4.75%5.25%
6 Months to 9 Months5.75%6.25%
9 Months to 1 Year6.00%6.50%
1 Year to 2 Years6.70%7.20%
2 Years to 3 Years7.00%7.50%
3 Years to 5 Years7.00%7.50%
5 Years to 10 Years6.90%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 AmountFor 3 years with interest of 7.00%For 5 years with interest of 6.90%
₹ 50,0001,51,7472,54,321
₹ 1 lakh3,03,4935,08,642
₹ 2 lakh6,06,98710,17,283
₹ 5 lakh15,17,46625,43,208
₹ 10 lakh30,34,93350,86,415

Compare ICICI Bank vs Punjab National Bank Recurring Deposit

vs
Punjab National Bank
ICICI Bank
ICICI Bank
Maturity Amount3,03,4933,02,621
Total Investment Amount3,00,0003,00,000
Total Interest Gained3,4932,621

Compare RD Interest Rates of Other Banks

Bank NameRD Interest Rates
Punjab National Bank
Punjab National Bank
4.40% to 6.50%
City Union Bank
City Union Bank
5.75% to 6.50%
BOI Bank
BOI Bank
4.50% to 6.50%
Canara Bank
Canara Bank
5.25% to 6.90%
Indian Bank
Indian Bank
3.50% to 6.70%
BOB Bank
BOB Bank
4.50% to 7.05%
Central Bank of India
Central Bank of India
4.50% to 6.75%
Karur Vysya Bank
Karur Vysya Bank
6.00% to 7.00%
Union Bank of India
Union Bank of India
4.30% to 6.70%
Tamilnad Mercantile Bank
Tamilnad Mercantile Bank
5.75% to 7.00%
Karnataka Bank
Karnataka Bank
5.25% to 7.00%
Dhanlaxmi Bank
Dhanlaxmi Bank
6.50% to 6.75%
South Indian Bank
South Indian Bank
4.50% to 6.50%
Federal Bank
Federal Bank
5.00% to 7.30%
Bank of Maharashtra
Bank of Maharashtra
4.50% to 6.00%
Indian Overseas Bank
Indian Overseas Bank
4.50% to 6.80%
UCO Bank
UCO Bank
4.50% to 6.50%
RBL Bank
RBL Bank
4.75% to 7.50%
State Bank of India
State Bank of India
4.50% to 7.00%
IDBI Bank
IDBI Bank
4.50% to 6.80%
Axis Bank
Axis Bank
4.75% to 7.10%
HDFC Bank
HDFC Bank
4.50% to 7.10%
Indusind Bank
Indusind Bank
4.75% to 7.50%
Kotak Mahindra Bank
Kotak Mahindra Bank
4.00% to 7.10%
Yes Bank
Yes Bank
5.00% to 7.75%
Bandhan Bank
Bandhan Bank
4.50% to 7.25%
IDFC First Bank
IDFC First Bank
5.00% to 7.50%
Equitas Small Finance Bank
Equitas Small Finance Bank
7.25% to 8.20%
Capital Small Finance Bank
Capital Small Finance Bank
4.75% to 7.15%
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank
4.75% to 7.50%
Fincare Small Finance Bank
Fincare Small Finance Bank
5.75% to 8.25%
ESAF Small Finance Bank
ESAF Small Finance Bank
5.25% to 8.50%
North East Small Finance Bank
North East Small Finance Bank
4.00% to 7.50%
Suryoday Small Finance Bank
Suryoday Small Finance Bank
5.00% to 8.50%
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank
6.50% to 8.00%
Jana Small Finance Bank
Jana Small Finance Bank
4.00% to 8.50%
DBS Bank
DBS Bank
3.00% to 7.50%
Post Office
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 2024-02-25

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

36
3.2 %

1,00,000

Total Investment

0

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 4.75% to 6.90% p.a. for regular citizens. For senior citizens, the RD interest rates range between 5.25% to 7.50% 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.

Resources

  1. ICICI Mutual Funds
  2. ICICI SIP Calculator
  3. ICICI Fixed Deposit
  4. ICICI FD Calculator
  5. ICICI PPF Calculator