RD calculator

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Disclaimer*: The above calculation does not include TDS deductions

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Features of ICICI Bank Recurring Deposits

  • Minimum balance

    Start saving with just ₹500 per month and increase your deposit in multiples of ₹100.

  • Flexible tenures

    • Minimum tenure: 6 months
    • Maximum tenure: 10 years
    • Increase your investment tenure in multiples of 3 months.

  • Nomination facility

    Easily assign a single nominee for your RD account. Submit a nomination form as per the Banking Companies (Nomination Rules), 1985, at your nearest ICICI Bank branch.

  • Other benefits

    • Earn interest at attractive rates, similar to fixed deposits.
    • Tax Deduction at Source (TDS) applicable on accrued interest as per law.
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How to open a Recurring Deposit (RD)

About Recurring Deposits

What is a Recurring Deposit (RD)?

A Recurring Deposit (RD) with ICICI Bank is a savings solution designed for those who want to grow their wealth systematically. Invest small amounts monthly and enjoy attractive interest rates.

Benefits of Opening a Recurring Deposit with ICICI Bank
  • Low initial deposit: Start with just ₹500 per month.
  • Flexible tenures: Choose from 6 months – 10 years.
  • Goal-based savings: Plan your goals with no penalties using iWish.
  • Attractive returns: Earn competitive interest rates on your deposits.
  • Easy loan facility: Avail loans against your RD balance.

Flexible tenure options

Recurring Deposits allow you to save for periods ranging from six months – ten years. You can extend your investment tenure in multiples of three months, offering you complete control over your savings plan.

Hassle-free setup

Opening a Recurring Deposit is quick and easy. Use the iMobile app, Net Banking, Customer Care, or visit a branch to start saving today.

iWish – Goal-based savings

Enjoy greater flexibility with iWish, our goal-based savings tool:

  • Save as per your convenience with no penalties for missed payments.
  • Set and achieve your financial goals with ease.

Documents Required to Open a Recurring Deposit

Provide any of the following documents as identity and proof of address:

  • Passport

  • Aadhaar

  • Voter ID

  • Utility Bills (as communication proof)
    Ensure you submit originals for verification along with photocopies.

Taxation on Recurring Deposits

Tax Deduction at Source (TDS) is applicable on interest accrued on recurring deposits. Deductions are made on September 30, March 31, and at maturity as per prevailing laws.

How to Calculate Your RD Returns

Use our online RD Calculator to estimate:

  • Total investment

  • Interest earned

  • Maturity amount
    Plan your savings better with this simple tool.

Why Choose ICICI Bank for Recurring Deposits?

ICICI Bank offers a combination of trust, competitive interest rates, and convenience:

  • Comprehensive digital tools for managing your RD.

  • Loan facilities against your deposit.

  • Goal-based savings options with flexibility and no penalties.

Recurring Deposit FAQs

What is a recurring deposit?

A Recurring Deposit (RD) is an investment product where you deposit fixed amounts monthly and earn attractive interest over a chosen tenure.

Is the interest earned on my RD taxable?

Yes, TDS is applicable on accrued interest as per law. Tax is deducted on September 30, March 31, and on maturity.

What are the minimum and maximum tenures for RDs?

The tenure ranges from 6 months – 10 years, with increments in multiples of 3 months.

How much interest can I earn through an RD?

Interest rates are similar to fixed deposits. Click here to check the latest rates.

Who is eligible to open an RD with ICICI Bank?

Resident Indians can open an RD account.

How do I manage my RD account?

You can manage your RD using ICICI Bank's iMobile app, Net Banking, Customer Care, or by visiting a branch.

View all FAQs

Take a word from our Customers

  • S

    Shweta Kumari

    Rating: 4.2 stars

    Opening an RD (Recurring Deposit) online was incredibly simple and convenient. The entire process took just a few minutes, and I didn’t have to visit the bank even once. The digital platform is user-friendly, and I could compare rates and choose the right RD tenure as my first investment with ICICI Bank. It’s a hassle-free way to secure my savings and earn great returns!

  • N

    Nalin

    Rating: 2.5 stars

    As a young professional, I wanted a disciplined way to save my money while earning good returns and ICICI Bank’s Recurring Deposit was the perfect choice. The small monthly contributions easily fit into my budget, and this has been excellent way to develop a disciplined savings habit. I would recommend ICICI Bank's RD as the perfect choice for anyone to build a strong and secure foundation.

  • V

    Vaibhav Kapoor

    Rating: 5 stars

    As a busy professional, I appreciate how easy it was to set up my recurring deposits online with ICICI Bank’s Digital platforms. ICICI Bank's iMobile app is user-friendly, allowing me to start saving in just a few clicks without any paperwork. I also value the nomination facility, which ensures my savings are secured for my loved ones. 

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