Investor Education
ICICI RD Interest Rates – Know Latest Interest Rates of Recurring Deposit, ICICI
ICICI RD rates
A Recurring Deposit, RD, is a type of term deposit offered by multiple Indian Banks. It is an investment instrument that allows people to make regular investments and earn decent interest returns on their investment amount.
However, it is important to know that RDs are very different from Fixed Deposits/FDs offered by any Indian Bank. RDs provide flexibility in most aspects, including investment tenure and deposits. An RD account holder may choose to invest a fixed sum each month while earning higher interest on his amount.
ICICI iWISH
iWish is an online flexible RD option available to all ICICI Bank Savings Account holders with no extra cost. It's one of the best ways to save money for a specific goal. The most significant benefit of ICICI iWish flexible RD is that you may add funds/money to it anytime at your convenience. There are no restrictions or limits on the amount you may add each time to your account.
Features of ICICI Recurring Deposits
ICICI Recurring Deposits offers its customer the following:
· High-interest rates, which might be equivalent to the fixed deposit interest rates.
· Loan facility against Recurring Deposit.
· Low minimum balance of Rs 500 monthly, further deposits can be made in multiples of Rs 100
· Nomination facility is also available.
· Online tracking of recurring deposits is also possible through recurring billing.
ICICI RD Interest Rates
| Investment tenure | Interest Rate (%) per annum | |
| For General public | For Senior Citizen | |
| 6 months | 3.5 | 4 |
| 9 months | 4.4 | 4.9 |
| 12 months | 4.9 | 5.4 |
| 15 months | 4.9 | 5.4 |
| 18 months | 5 | 5.5 |
| 21 months | 5 | 5.5 |
| 24 months | 5 | 5.5 |
| 27 months | 5.15 | 5.65 |
| 30 months | 5.15 | 5.65 |
| 33 months | 5.15 | 5.65 |
| 36 months | 5.15 | 5.65 |
| More than 3 years upto 5 years | 5.35 | 5.85 |
| More than 5 years upto 10 years | 5.5 | 6.3 |
Eligibility criteria
The following can start investing in ICICI Recurring Deposit account:
· Resident of India
· Senior citizens
· Minor with a legal guardian
Documentations required to open RD account
Identity Proof:
Following documents may be provided as proof of one's identity:
· Passport
· PAN card
· Voter ID card
· Driving license
· Government ID card
· Senior citizen ID card
Address Proof
Following documents may be provided as proof of one's address:
· Passport
· Telephone bill
· Electricity bill
· Bank Statement with Cheque
· Certificate/ ID card issued by Post office
Frequently Asked Questions (FAQs)
1. Can premature withdrawal be made in RD accounts?
Premature withdrawal may be made from an RD account subjected to panel interest rate, variable from one bank to another. However, if the account is terminated before maturity, actual interest rates will be payable.
2. What does an ICICI Bank Recurring Deposit come with?
ICICI Bank Recurring Deposit offers:
· High-interest rates, which may be similar to the fixed deposit rates.
· Option of loan against one's ICICI Bank Recurring Deposit.
· Low minimum balance of Rs 500 monthly for a minimum of six months.
· Deposits can be made in multiples of Rs 100
· Nomination facility is available.
· Online tracking of one's deposit via the official portal.
3. What is the investment tenure for ICICI Recurring Deposits?
You may start investing in ICICI Recurring for a minimum of 6 months and a maximum of up to 10 years.