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ICICI RD Interest Rates 2019

If you planning to open a RD account with ICICI Bank, you should do it right away. This is because the lender is offering attractive returns on the deposits. The bank which provide two types of recurring deposits is offering 7.10% p.a. as a rate of return for general citizens and 7.60% p.a. to senior citizens.

You can choose an investment tenure that ranges between 6 months and 10 years with the minimum investment amount being Rs.500. The bank also enables you to avail a loan against the recurring deposit amount.

Different Types of RDs Offered by ICICI Bank

ICICI bank offers two different types of recurring deposit schemes. These are:

  • Delightful Deposits Recurring Deposit: These types of recurring deposits are presented by the bank in association with partners from sectors like jewellery, electronics and travel. These deposits offer you more than the RD interest, in the form of a top-up amount.
  • iWish Recurring Deposit: It is a unique online flexible recurring deposit. You can deposit any amount at any point of time during the tenure.

The interest rates offered by ICICI bank on RDs for different tenures is mentioned in the table below:

Deposit Tenure Interest rate for General Citizens (p.a.) Interest rate for Senior Citizens (p.a.)
6 months 5.75% 6.25%
9 months 6.25% 6.75%
1 year 6.70% 7.20%
1 year 3 months 6.80% 7.30%
1 year 6 months 7.10% 7.60%
1 year 9 months 7.10% 7.60%
2 years 7.10% 7.60%
2 years 3 months 7.10% 7.60%
2 years 6 months 7.10% 7.60%
2 year 9 months 7.10% 7.60%
3 years 7.10% 7.60%
3 years to 5 years 7.00% 7.50%
5 years to 10 years 7.00% 7.50%

ICICI iWish Deposit Interest Rates :

The interest rates offered by ICICI bank on iWish RDs for different tenures w.e.f. 30 August 2019 is mentioned in the table below:

Deposit Tenure Interest rate for General Citizens (p.a.) Interest rate for Senior Citizens (p.a.)
6 months 5.75% 6.25%
7 months to 9 months 6.25% 6.75%
10 months – 11 months 6.50% 7.00%
1 year 6.70% 7.20%
1 year 1 month to 1 year 5 months 6.80% 7.30%
1 year 6 months to 2 years 7.10% 7.60%
2 years 1 month to 3 years 7.10% 7.60%
3 years 1 month to 5 years 7.00% 7.50%
5 years 1 months to 10 years 7.00% 7.50%

ICICI Bank Short-Term RD Interest Rate

Deposits which have a tenure up to 1 year fall under the category of short-term recurring deposits. ICICI Bank is offering general citizens an interest rate that ranges between 5.75% p.a. and 6.70% p.a. for regular recurring deposits. If you open an iWish RD with the bank, the rate of return offered for short-term RDs is the same.

ICICI Bank Medium-Term RD Interest Rates

Medium term RDs are deposits which have a tenure above 1 year and up to 5 years. The interest offered on such RDs by ICICI Bank is in the range of 6.80% p.a. to 7.10% p.a. The lender offers the same interest rate for iWish recurring deposits.

ICICI Bank Long-Term RD Interest Rates

Any RD account opened for a period that is more than 5 years falls under the category of long-term RDs. The interest paid by the bank on such deposits is 7% p.a.

ICICI Bank Senior Citizen RD Rates

Citizens who are above the age of 60 years are offered additional interest of 0.50% on all investment tenures. The rate of return offered by the bank to senior citizens for both regular and iWish RDs is in the range of 5.75% p.a. to 7.10% p.a.

Important Information to Note When it Comes to ICICI Recurring Deposit Schemes

  • You must be resident Indian to open an RD account.
  • The minimum deposit amount is Rs.500
  • You can avail a loan against the deposit.
  • TDS is applicable on interest paid or accrued on the RD.
  • For delayed instalments, a penalty of Rs.12 per Rs.1000 is charged by the bank.

Premature Withdrawal of ICICI Recurring Deposit

If you withdraw the amount from the RD account prematurely, interest will be calculated based on the period for which the amount remained with the bank. A penalty will also be levied by the bank at the rates mentioned below:

Deposit Tenure Penalty Rates (p.a.)
For deposits less than Rs.5 crore For deposits above Rs.5 crore
Less than 12 months 0.50% p.a. 0.50% p.a.
12 months to less than 60 months 1% p.a. 1% p.a.
60 months and above 1% p.a. 1.50% p.a.

More you need to know about Recurring Deposit

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Know how to Link Your KYC Dcuments to ICICI Bank Account

News About ICICI Bank Recurring Deposit Interest Rates

  • ICICI Bank Cuts Interest Rates on Savings Accounts

    Along with other financial institutions, ICICI bank has also cut interests on saving accounts by 0.5% p.a. All deposits below Rs.50 lakh will receive an interest rate of only 3.5% p.a. as opposed to the previous interest rate offered by the bank of 4% p.a. However, all deposits above Rs.50 lakh will receive the long-standing interest rate of 4% p.a.

    19 August 2017

  • Brokerages Predict ICICI Bank Profits to DIp 20% for Q2 Results, Amid Higher NPAs

    ICICI Bank which is considered as India’s largest lending company is believed by experts to report poor second quarter results for this financial year. This prediction has been made based on many brokerages forecasting a double-digit fall in profit amid poor sales and the rise in NPA. However, the experts still believe that ICICI may have enough capital lead by the sale in stake in the bank’s insurance section.

    7 November 2016

  • ICICI Bank Revises Interest Rates for Recurring Deposits

    ICICI have revised the interest rates offered for their recurring deposits. While the interest rates offered for recurring deposits with varying tenures remains by and large the same, the rates offered for a particular tenure, namely a tenure of 9 months has seen revisions. Earlier deposits with a tenure of 9 months offered interest rates of 7.25% p.a. for general and 7.75% p.a. for senior citizens. This has been changed to 6.75% p.a. for general and 7.25% p.a. for senior citizens. The change in interest rates has been in effect from 22nd August 2016. The tenure limits however remain the same with a minimum tenure requirement of 6 months and a maximum tenure of 10 years.

    22 August 2016

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