ICICI Bank Recurring Deposit (RD) Interest Rates 2025

Opting for a Recurring Deposit (RD) account at ICICI Bank is one of the ideal ways to start your monthly deposit journey. ICICI Bank RD interest rates tend to fetch attractive returns for depositors, leading to a higher sum in the long run.

Thus, if you have a stable source of income, you can open an RD account at the ICICI Bank after learning about the latest applicable interest rates and other necessary details related to it. Read this blog till the end to find out the same.

ICICI Bank Recurring Deposit Scheme Highlights For 2025

Here is a brief overview of the highlights of ICICI Bank Recurring Deposit accounts:

ICICI Bank RD Interest Rate 2025

The interest rates for the Recurring Deposit accounts tend to change without any prior notice. Go through the following table that features the ICICI Bank RD interest rates 2025:

Types Of ICICI Bank RD Accounts

ICICI Bank offers multiple types of RD accounts to suit the varied financial preferences of individuals. These include the following:

Recurring deposit 

ICICI’s recurring deposits allow you to deposit small amounts of money every month, ending up with large amounts after maturity. With these deposits you can deposit money from 6 months to 10 years. The rates differ from 4.75% p.a. to 7.25% p.a. for general citizens and 5.25% p.a. to 7.80% p.a. for senior citizens. 

iWish Recurring Deposit

This is one of the flexible RD accounts offered at ICICI Bank. It is a unique deposit which lets you create goals for your specific wishes. You can deposit any amount at any time throughout the predetermined tenure. You can also earn better rates on your deposit, which are listed below: 

How To Calculate ICICI Bank RD Interest Rate?

The interest rates of the Recurring Deposits are calculated quarterly and are compounded accordingly, enabling you to earn interest on good returns. Hence, according to the compound interest method, the ICICI recurring deposit interest rates are compounded every quarter from the initial deposit date. 

The following is the formula used for RD interest calculations:

A= P x (1+R/N) ^ (NT)

Here:

• A = Maturity Amount
• P = Monthly Deposit Amount
• N = Number of times the interest is compounded
• R = Rate of Interest
• T = Tenure
• N will be 1 when compounded yearly, 2 for half-yearly and 4 for quarterly)

Example: Aditya opens an RD account in the ICICI Bank with a monthly deposit of Rs. 2000 for 30 months at an ICICI Bank recurring deposit interest rate of 7.00%.

As per the formula, 

A = 2000 x (1+7/4) ^ (4*30) = Rs. 65,708

Hence, the total interest accrued is Rs. 5,708.

Therefore, from the above calculation, it is understood that Aditya will get a return of Rs. 65,708 after completing the tenure of 30 months and depositing Rs. 2000 every month throughout those 30 months. 

Make sure to opt for the ICICI Bank RD calculator to estimate accurate returns based on the monthly deposit amount and the tenure instantly every time without any errors.

Features Of ICICI Bank RD Interest Rates

You can refer to the following points to learn about some of the major features of ICICI Bank RD interest rates:

• Initial Deposit

ICICI Bank accepts an initial deposit of Rs. 500 when opening your Recurring Deposit account. The bank also allows you to increase the core monthly amount as per your preference and financial stability throughout the predetermined tenure.

• Interest Rates

ICICI Bank recurring deposit interest rates are highly competitive and go as high as 7.25% for the general public and 7.80% for senior citizens. However, you must remember that the interest rates are subject to change and are applicable according to the tenure you select for your RD account.

• Tenure

ICICI Bank offers flexibility in selecting the tenures for the RD accounts, which range from 6 months to 10 years. Also, your tenure shall impact the ICICI Bank RD interest rate applicable to your account.

• Loan Facility

ICICI Bank offers a loan facility to all RD account holders. Based on the bank's norms, you can opt for a loan up to a certain percentage of your deposit amount.

• Penalty & TDS

ICICI Bank charges a percentage of your deposit amount as a penalty for premature withdrawal of recurring deposits. The bank also applies TDS (Tax Deduction at Source) on the interest paid on recurring deposits.

Eligibility For Opening ICICI Bank RD Account

There are a few major eligibility parameters that you need to fulfil if you wish to open a Recurring Deposit account at the ICICI Bank. These include the following:

• All individuals are allowed to open ICICI Bank Recurring Deposit accounts only in their names.
• All ICICI RD account applicants must be residents of India and holding valid Indian citizenship.
• Members of a Hindu Undivided Family are also eligible to open Recurring Deposit accounts at the ICICI Bank.

Documents Required For Opening ICICI Bank RD Account

The ICICI Bank needs to verify the authentication of your identity and address; hence, it requires a few sets of documents from all the applicants. Thus, along with your duly filled ICICI Bank RD account application form, you need to submit the following documents whenever you opt to open ICICI Bank Recurring Deposit accounts:

Address Proof

• Electricity bill
• Passport
• Telephone bill
• Bank statements with a cheque
• ID cards or certificates issued from the post office

Identity Proof

• Passport
• Government ID card
• PAN card
• Driving licence
• Ration card
• Senior citizen ID card

Please note that you may need to submit a few other documents based on the type of RD account you wish to open at the ICICI Bank. Thus, it is better to inquire about the required set of documents from the bank beforehand.

How To Open an ICICI Bank RD Account?

ICICI Bank allows the flexibility for all applicants to open their RD accounts through both online and offline modes at their convenience. Given below are the step-by-step process for the same:

Online Application

1. Visit the official website of the ICICI Bank.
2. Log in to your account with your user ID and password.
3. Navigate to the option called “My Accounts”.
4. Select the “Open Fixed/Recurring Deposit” option.
5. Enter the information as asked including instalment amount, account number, tenure etc.
6. Check the applicable interest rate.
7. Read the terms and conditions and tick the checkbox.
8. Click on the “Submit” option to complete your RD account application process.

You will receive a confirmation message on your registered mobile number and email ID after the completion of the application process and your specified instalment amount will be debited accordingly.

From the iMobile App

1. Download the iMobile App, the personalised mobile app to your device.
2. Log in to your account using the 4-digit login pin.
3. Go to the section called “Accounts and Deposits”.
4. Click on the “Deposits (FD/RD)” option.
5. Now click on the option called “Open Recurring Account” and proceed as instructed.

Offline Application

1. Visit your nearest ICICI Bank with your savings account details.
2. Navigate to the necessary authority member and ask for an RD account application form.
3. Fill in the application form by providing all the essential details including deposit tenure, instalment amount, payment mode, nominee etc.
4. Make your first deposit through cash or using a cheque.
5. Submit the application form along with copies of the required documents to the branch manager.

Once you complete the process, the bank shall process your RD account application within a stipulated time frame.

How To Close an ICICI Bank RD Account?

Refer to the following step-by-step process to learn how you can close your ICICI bank RD account:

1. Visit your nearest ICICI Bank with your RD account details.
2. Navigate to the necessary authority member and ask for an RD account closure form.
3. Fill in the required details as asked and sign it. Please note that if the RD account has a joint holder, the closure accounts will need their signature and consent as well.
4. Attach the self-attested copies of the required documents with the closure form. These include KYC, PAN card, address proof, identity proof, RD account receipt, RD certificate etc.
5. Submit the form to the branch manager.

Benefits Of ICICI Bank RD Account

Go through the below points to learn about some of the major benefits of having an RD account at the ICICI Bank:

• One of the key benefits of your RD account at the ICICI bank is that you commit to a regular monthly investment scheme with a reliable and reputed financial institution.
• The RD schemes of ICICI Bank are designed to ensure you allocate a certain percentage of your earnings every month and proceed towards fulfilling your financial goals faster.
• Recurring deposit accounts tend to have higher interest rates as compared to regular savings accounts. Thus, your investment in an RD account can get you better returns after maturity. 
• Senior citizens are eligible for additional interests and the compound interest can accelerate the growth of their funds in the long run.
• ICICI banks offer flexible tenure options that range from 6 months to 120 months, allowing you to select the one that perfectly aligns with your financial objectives.
• Recurring deposit accounts promise you guaranteed returns. 
• In regular recurring deposit accounts, a nominal fee might be charged for missed deposits. However, this is not the case with ICICI RD accounts like the iWish Goal-Based Savings account. RD accounts like these allow you to make your deposits without worrying about additional charges.

ICICI Bank RD Premature Withdrawal Rules

ICICI Bank allows depositors to withdraw the deposit amounts from their RD accounts prematurely. However, in such cases, interests are not payable since the interest is calculated only for the period throughout which your RD account has remained active in ICICI Bank.

Nevertheless, the applicable penalty rates for premature withdrawals of Recurring Deposit accounts of ICICI Bank have been mentioned in the below table:

Whether you plan for a short-term or long-term deposit plan, the competitive ICICI Bank RD interest rates promise attractive returns. Hence, opting for an RD account at the ICICI Bank can be the ideal option to start your monthly deposit journey. You can also use the ICICI RD bank online calculators to estimate your deposit returns and have an informed approach.