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ICICI RD Interest Rates 2021

The rate of return offered by ICICI Recurring Deposit is in the range of 3.50% p.a. to 5.50% p.a. An RD account can be opened for a period that ranges between 6 months and 10 years.

ICICI iWish Deposit Interest Rates :

Deposit Tenure Interest rate for General Citizens (p.a.) Interest rate for Senior Citizens (p.a.)
6 months 3.50% 4.00%
7 months - 9 months 4.40% 4.90%
10 months - 11 months 4.40% 4.90%
12 months only 4.90% 5.40%
13 months < 18 months 4.90% 5.40%
18 months - 24 months 5.00% 5.50%
25 months - 3 years 5.15% 5.65%
37 months - 5 years 5.35% 5.85%

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 3.50% p.a. and 4.90% p.a.

ICICI Bank Medium-Term RD Interest Rates

Medium term RDs are deposits which have a tenure between 1 year and 3 years. The interest offered on such RDs by ICICI Bank is in the range of 4.90% p.a. to 5.15% 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 3 years falls under the category of long-term RDs. The interest paid by the bank on such deposits is 5.35% p.a.

ICICI Bank Senior Citizen RD Rates

Citizens who are above the age of 60 years are offered additional interest rates on all investment tenures. The rate of return offered by the bank to senior citizens for iWish RDs is 4.00% p.a. to 5.85% 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.

Documents Required

The documents which you need to submit are listed below:

  • Identity Proof (Anyone)

  • Government ID card
  • Senior Citizen ID card
  • Passport
  • PAN
  • Voter ID
  • Driving License
  • Address Proof (Anyone)
  • ID card or certificate issued by Post Office
  • Bank Statement with Cheque
  • Electricity Bill
  • Telephone Bill
  • Passport

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.) Penalty Rates (p.a.)
Less than 12 months 0.50% 0.50%
12 months to less than 60 months 1.00% 1.00%
60 months and above 1.00% 1.50%

ICICI RD Interest Rates Frequently Asked Questions

  1. Is TDS applicable on Recurring deposits?

    Yes, TDS is applicable on the interest earned in recurring deposits.

  2. Do I need to pay any charge for iWish flexible RD?

    No, you need not pay any charge for iWish flexible RD.

  3. Who is eligible to open an iWish recurring deposit account?

    An iWish recurring deposit account can be opened by any resident individual or a member of a Hindu Undivided Family having access to ICICI Bank Retail Net Banking facility and a resident savings account linked to the ICICI Bank Retail Net Banking account.

  4. Are there any penalties for missed payments when it comes to iWish RDs?

    There are no penalties in case of missed payments when it comes to iWish RDs.

  5. Can I avail a loan against the deposits?

    Yes, you can avail a loan against the deposits made in a RD account.

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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