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HomeGuidesICICI RD Interest Rates
FY 2025-26 · AY 2026-27
Updated October 2026

ICICI Bank Recurring Deposit (RD) Interest Rates 2026Comprehensive Guide to ICICI Bank RD for FY 2025-26

Explore the ICICI Bank Recurring Deposit schemes for 2026, including interest rates, account types, and benefits. Learn how to maximize your savings with detailed calculations and eligibility criteria.

Table of Contents
1

ICICI Bank Recurring Deposit Scheme Highlights For 2026


2

ICICI Bank RD Interest Rate 2026


3

Types Of ICICI Bank RD Accounts


4

How To Calculate ICICI Bank RD Interest Rate?


5

Features Of ICICI Bank RD Interest Rates


6

Eligibility For Opening ICICI Bank RD Account


7

Documents Required For Opening ICICI Bank RD Account


8

How To Open an ICICI Bank RD Account?


9

How To Close an ICICI Bank RD Account?


10

Benefits Of ICICI Bank RD Account


11

ICICI Bank RD Premature Withdrawal Rules


12

FAQs on ICICI Bank RD Interest Rates 2026

ICICI Bank Recurring Deposit Scheme Highlights For 2026

  1. Tenure and Interest Rates

    ICICI Bank offers flexible tenures and competitive interest rates for its RD accounts.

    • Tenure ranges from 6 months to 10 years.

    • Interest rates for the general public range from 4.75% to 7.25% p.a.

    • Senior citizens enjoy rates from 5.25% to 7.80% p.a.

  2. Minimum Deposit Requirements

    Start your savings journey with a minimal initial deposit.

    • The minimum deposit amount is ₹500.

    • Deposits can be made monthly.

    • No maximum limit on deposits.

  3. Premature Withdrawal

    Withdraw your funds before maturity with certain conditions.

    • Premature withdrawal is allowed with a penalty.

    • Penalty rates vary based on tenure and amount.

    • Interest is recalculated at the time of withdrawal.

  4. Tax Implications

    Understand the tax implications of your RD earnings.

    • Interest earned is taxable under 'Income from Other Sources'.

    • TDS is applicable if interest exceeds ₹40,000 (₹50,000 for senior citizens).

    • Form 15G/15H can be submitted to avoid TDS if eligible.

ICICI Bank RD Interest Rate 2026

  1. Interest Rates for Different Tenures

    ICICI Bank offers varied interest rates based on the tenure of the RD.

    • 6 months: 4.75% for general, 5.25% for seniors.

    • 15 months: 7.25% for general, 7.80% for seniors.

    • 5-10 years: 6.90% for general, 7.40% for seniors.

  2. Interest Rate Calculation

    Interest is compounded quarterly, enhancing your returns.

    • Interest is compounded every quarter.

    • Higher compounding frequency leads to better returns.

    • Effective annual rate is higher than nominal rate.

  3. Example Calculation

    Illustrative example of RD interest calculation.

    • Monthly deposit: ₹2,000 for 30 months.

    • Interest rate: 7.00% p.a.

    • Maturity amount: ₹65,708 with total interest of ₹5,708.

  4. Comparison with Other Banks

    ICICI Bank's RD rates compared to other leading banks.

    • ICICI offers competitive rates compared to SBI and HDFC.

    • Rates are subject to change based on RBI policies.

    • Senior citizens get an additional 0.50% interest.

Types Of ICICI Bank RD Accounts

  1. Standard Recurring Deposit

    Traditional RD account with fixed monthly deposits.

    • Fixed monthly deposit amount.

    • Tenure from 6 months to 10 years.

    • Interest rates vary based on tenure.

  2. iWish Recurring Deposit

    Flexible RD account allowing variable deposits.

    • Set financial goals with flexible deposits.

    • No fixed monthly deposit requirement.

    • Interest rates similar to standard RD.

  3. Tax Saver RD

    RD with tax benefits under Section 80C.

    • Lock-in period of 5 years.

    • Eligible for tax deduction up to ₹1.5 lakh.

    • Interest earned is taxable.

  4. NRI Recurring Deposit

    RD account for Non-Resident Indians.

    • Available in INR currency.

    • Interest rates similar to domestic RD.

    • Repatriation of maturity proceeds allowed.

How To Calculate ICICI Bank RD Interest Rate?

  1. Compound Interest Formula

    Use the compound interest formula to calculate RD returns.

    • A = P x (1+R/N) ^ (NT)

    • P = Monthly deposit, R = Rate of interest, N = Compounding frequency, T = Tenure.

    • Interest is compounded quarterly (N=4).

  2. Step-by-Step Calculation

    Follow these steps to calculate your RD maturity amount.

    • Determine monthly deposit and tenure.

    • Apply the interest rate based on tenure.

    • Use the formula to compute maturity amount.

  3. Factors Affecting Returns

    Understand the factors influencing your RD returns.

    • Interest rate and compounding frequency.

    • Tenure of the deposit.

    • Regularity and amount of monthly deposits.

  4. Example Calculation

    Illustrative example to demonstrate RD interest calculation.

    • Monthly deposit: ₹1,000 for 24 months.

    • Interest rate: 7.25% p.a.

    • Maturity amount: ₹25,000 with total interest of ₹1,000.

Features Of ICICI Bank RD Interest Rates

  1. Flexible Tenure Options

    Choose a tenure that suits your financial goals.

    • Tenure options from 6 months to 10 years.

    • Short-term and long-term saving plans.

    • Flexibility to change tenure in some cases.

  2. Attractive Interest Rates

    Benefit from competitive interest rates.

    • Rates range from 4.75% to 7.25% for general public.

    • Senior citizens enjoy an additional 0.50% interest.

    • Rates are subject to periodic revisions.

  3. Quarterly Compounding

    Interest is compounded quarterly, enhancing returns.

    • Compounding frequency affects maturity amount.

    • Higher compounding leads to better returns.

    • Effective annual rate is higher than nominal rate.

  4. Premature Withdrawal Facility

    Withdraw funds before maturity with certain conditions.

    • Penalty applicable on premature withdrawal.

    • Interest recalculated at the time of withdrawal.

    • Partial withdrawals not allowed.

Eligibility For Opening ICICI Bank RD Account

  1. Resident Individuals

    Eligibility criteria for resident individuals.

    • Must be an Indian resident.

    • Minimum age requirement: 18 years.

    • Joint accounts allowed with another resident.

  2. Non-Resident Indians (NRIs)

    Eligibility criteria for NRIs.

    • NRIs can open RD accounts in INR.

    • Repatriation of maturity proceeds allowed.

    • Joint accounts allowed with another NRI.

  3. Minors

    Eligibility criteria for minors.

    • Minors can open RD accounts with a guardian.

    • Guardian must be a resident individual.

    • Account operated by guardian until minor turns 18.

  4. Hindu Undivided Families (HUFs)

    Eligibility criteria for HUFs.

    • HUFs can open RD accounts.

    • Karta operates the account on behalf of HUF.

    • Interest earned is taxable under HUF's PAN.

Documents Required For Opening ICICI Bank RD Account

  1. Identity Proof

    Submit valid identity proof documents.

    • Aadhaar Card or PAN Card.

    • Voter ID or Passport.

    • Driving License.

  2. Address Proof

    Submit valid address proof documents.

    • Utility bills (electricity, water, gas).

    • Bank statement with address.

    • Ration Card or Passport.

  3. Photographs

    Provide recent passport-sized photographs.

    • Two recent passport-sized photographs.

    • Photographs should be clear and recent.

    • Required for account opening form.

  4. Additional Documents for NRIs

    Additional documents required for NRIs.

    • Copy of valid passport.

    • Proof of NRI status (visa, work permit).

    • Overseas address proof.

How To Open an ICICI Bank RD Account?

  1. Online Application

    Steps to open an RD account online.

    • Log in to ICICI Bank's internet banking portal.

    • Navigate to the 'Deposits' section.

    • Select 'Recurring Deposit' and fill in the details.

  2. Branch Visit

    Steps to open an RD account by visiting a branch.

    • Visit the nearest ICICI Bank branch.

    • Fill out the RD account opening form.

    • Submit required documents and initial deposit.

  3. Mobile Banking

    Steps to open an RD account via mobile banking.

    • Log in to ICICI Bank's mobile banking app.

    • Navigate to the 'Deposits' section.

    • Select 'Recurring Deposit' and complete the process.

  4. Customer Care Assistance

    Get assistance from customer care for opening an RD account.

    • Call ICICI Bank's customer care number.

    • Request assistance for RD account opening.

    • Follow the instructions provided by the representative.

How To Close an ICICI Bank RD Account?

  1. Maturity Closure

    Steps to close an RD account on maturity.

    • Visit the ICICI Bank branch where the account is held.

    • Submit a maturity closure request form.

    • Receive the maturity proceeds in your linked account.

  2. Premature Closure

    Steps to close an RD account before maturity.

    • Visit the ICICI Bank branch with your ID proof.

    • Submit a premature closure request form.

    • Penalty may be applicable on premature closure.

  3. Online Closure

    Steps to close an RD account online.

    • Log in to ICICI Bank's internet banking portal.

    • Navigate to the 'Deposits' section.

    • Select 'Close RD' and follow the instructions.

  4. Customer Care Assistance

    Get assistance from customer care for closing an RD account.

    • Call ICICI Bank's customer care number.

    • Request assistance for RD account closure.

    • Follow the instructions provided by the representative.

Benefits Of ICICI Bank RD Account

  1. Regular Savings

    Encourages disciplined savings habits.

    • Monthly deposits help build a savings corpus.

    • Ideal for individuals with regular income.

    • Helps achieve financial goals systematically.

  2. Attractive Returns

    Earn competitive interest rates on your savings.

    • Higher interest rates than regular savings accounts.

    • Quarterly compounding enhances returns.

    • Senior citizens enjoy additional interest benefits.

  3. Flexible Tenure Options

    Choose a tenure that suits your financial goals.

    • Tenure options from 6 months to 10 years.

    • Short-term and long-term saving plans.

    • Flexibility to change tenure in some cases.

  4. Tax Benefits

    Potential tax benefits on RD investments.

    • Interest earned is taxable under 'Income from Other Sources'.

    • TDS applicable if interest exceeds ₹40,000 (₹50,000 for seniors).

    • Form 15G/15H can be submitted to avoid TDS if eligible.

ICICI Bank RD Premature Withdrawal Rules

  1. Penalty on Premature Withdrawal

    Understand the penalty applicable on premature withdrawal.

    • Penalty rates vary based on tenure and amount.

    • Interest is recalculated at the time of withdrawal.

    • Partial withdrawals are not allowed.

  2. Procedure for Premature Withdrawal

    Steps to follow for premature withdrawal of RD.

    • Visit the ICICI Bank branch with your ID proof.

    • Submit a premature closure request form.

    • Receive the adjusted maturity proceeds in your account.

  3. Impact on Returns

    Understand the impact of premature withdrawal on returns.

    • Reduced interest earnings due to penalty.

    • Interest recalculated at the time of withdrawal.

    • Consider alternative options before premature withdrawal.

  4. Alternative Options

    Explore alternative options before opting for premature withdrawal.

    • Consider taking a loan against your RD.

    • Explore partial withdrawal options if available.

    • Consult with a financial advisor for better options.

FAQs on ICICI Bank RD Interest Rates 2026

What is the minimum deposit amount for an ICICI Bank RD account?

The minimum deposit amount for an ICICI Bank RD account is ₹500. This allows individuals to start saving with a small initial investment, making it accessible for a wide range of customers.


How is the interest on ICICI Bank RD calculated?

Interest on ICICI Bank RD is calculated using the compound interest formula and is compounded quarterly. This means you earn interest on both the principal and the accumulated interest, leading to higher returns over time.


Can NRIs open an ICICI Bank RD account?

Yes, NRIs can open an ICICI Bank RD account in INR. They can also repatriate the maturity proceeds, making it a convenient savings option for NRIs looking to invest in India.


What are the tax implications of ICICI Bank RD interest?

Interest earned on ICICI Bank RD is taxable under 'Income from Other Sources'. TDS is applicable if the interest exceeds ₹40,000 (₹50,000 for senior citizens). Submitting Form 15G/15H can help avoid TDS if eligible.


Is premature withdrawal allowed for ICICI Bank RD?

Yes, premature withdrawal is allowed for ICICI Bank RD, but it comes with a penalty. The penalty rates vary based on the tenure and amount, and interest is recalculated at the time of withdrawal.


What are the benefits of opening an ICICI Bank RD account?

ICICI Bank RD accounts offer benefits such as regular savings, attractive interest rates, flexible tenure options, and potential tax benefits. They are ideal for individuals looking to systematically save and achieve their financial goals.


How can I open an ICICI Bank RD account online?

To open an ICICI Bank RD account online, log in to the internet banking portal, navigate to the 'Deposits' section, select 'Recurring Deposit', and fill in the required details. Alternatively, you can use the mobile banking app.


What documents are required to open an ICICI Bank RD account?

To open an ICICI Bank RD account, you need to submit identity proof (Aadhaar, PAN), address proof (utility bills, bank statement), and recent passport-sized photographs. NRIs need to provide additional documents like a copy of their passport.


Can minors open an ICICI Bank RD account?

Yes, minors can open an ICICI Bank RD account with a guardian. The guardian must be a resident individual, and the account is operated by the guardian until the minor turns 18.


What is the tenure range for ICICI Bank RD accounts?

ICICI Bank RD accounts offer a flexible tenure range from 6 months to 10 years. This allows individuals to choose a tenure that aligns with their financial goals and savings plans.

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