+91ICICI Bank Recurring Deposit (RD) interest rates are 4.75%-7.25% p.a. for the general public and 5.25%-7.75% p.a. for senior citizens on tenures ranging from 6 months to 10 years. Besides the standard recurring deposit account, the ICICI Bank has a few other unique offerings – Recurring Deposit with Lump sum and Monthly Income Scheme, Recurring Deposit with Monthly Income Scheme and iWish Goal Based Savings.
ICICI RD Interest Rates
Except for some tenures, ICICI Bank RD interest rates for Standard Recurring Deposit and Recurring Deposit with “Lump sum and Monthly Income” and “Monthly Income” schemes are the same as the ICICI Bank FD rates for most tenures. The interest rate applicable to ICICI Bank’s iWish Flexible Recurring Deposit is also different from the rates offered on ICICI Bank’s Fixed Deposit and Recurring Deposit. Following are the RD interest rates offered by ICICI Bank.
ICICI RD Interest Rates w.e.f. 2 August 2024
| Maturity Period | Rate of Interest (% p.a.) | |
| Regular Citizens | Senior Citizen | |
| 6 months | 4.75% | 5.25% |
| 9 months | 6.00% | 6.50% |
| 12 months | 6.70% | 7.20% |
| 15 months | 7.25% | 7.80% |
| 18 months | 7.25% | 7.75% |
| 21 months | 7.25% | 7.75% |
| 24 months | 7.25% | 7.75% |
| 27 months | 7.00% | 7.50% |
| 30 months | 7.00% | 7.50% |
| 33 months | 7.00% | 7.50% |
| 36 months | 7.00% | 7.50% |
| Above 3 years up to 5 years | 7.00% | 7.50% |
| Above 5 years up to 10 years | 6.90% | 7.40% |
Interest Rates as of 19 March 2025
ICICI Bank iWish Goal Based Savings Interest Rates w.e.f. 16 January 2025
| Tenure | ICICI RD Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 6 months | 4.75% | 5.25% |
| 7 months – 8 months | 5.75% | 6.25% |
| 9 months | 6.00% | 6.50% |
| 10 months – 11 months | 6.00% | 6.50% |
| 12 months | 6.70% | 7.20% |
| 13 months – less than 15 months | 6.70% | 7.20% |
| 15 months – less than 18 months | 7.25% | 7.80% |
| 18 months – 24 months | 7.25% | 7.75% |
| 25 months – 3 years | 7.00% | 7.50% |
| 37 months – 5 years | 7.00% | 7.50% |
| 5 year 1 day – 10 years | 6.90% | 7.40% |
Interest Rates as of 19 March 2025
Types of ICICI RD Schemes
Recurring Deposit
- ICICI Bank’s Recurring Deposit can be opened instantly through the bank’s iMobile app as well as internet banking portal.
- Minimum Value of Instalment: Rs 500 per month and thereafter, in the multiples of Rs 100
- Tenure: 6 months to 10 years
- Interest Rates: Senior citizen depositors get an additional interest rate of 0.50% p.a. to 0.60% p.a. over the RD rates for regular citizens.
- Eligibility: Resident Indians are eligible to apply for ICICI Bank RD.
- Loan against Deposit Facility: Available
- Nomination Facility: Available
iWish Goal Based Savings
iWish Goal Based Savings is a recurring deposit for resident individuals/HUFs having at least one savings account and internet banking facility with ICICI Bank. Under this RD scheme, depositors can create financial goals to save for specific wishes. These goals can be shared on Facebook with friends and family who further can choose to contribute to the goal. The scheme also comes with a special feature “Wish Save The Change”, which helps depositors in reaching their target amount faster by rounding off their everyday transactions and auto investing the amount in their respective iWish accounts. The facility can be enabled for any one of the 25 allowed iWish accounts. Currently, there are three round-off options available — Rs 50, Rs 100 and Rs 500.
- Maximum Goals: Only 25 active goals at a time
- Minimum Initial Deposit Amount: Rs 50
- Maximum Initial Deposit Amount: Rs 49,999
- Minimum Target Amount for an iWish Goal: Rs 5,000
- Maximum Target Amount for an iWish Goal: Rs 5 Lakh
- Tenure: 6 months to 5 years
- Pre-closure Facility: Depositors can close the goal prematurely even if the goal is not achieved. In such a case, depositors will not earn the interest rate booked at the time of goal creation. Instead, they will earn interest at the rate corresponding to the period for which the RD remained with the bank. Beside this, a premature withdrawal penalty of 0.50%-1% will be levied on premature closure of the RD account.
- Partial withdrawal Facility: The premature partial withdrawal facility is not available on iWish account.
- Other features:
- Depositors can skip making monthly instalment as there is flexibility in the amount you pay monthly as well as the number of monthly payments.
- TDS shall be applicable on the interest earned on recurring deposit/ variable recurring deposits etc.
Recurring Deposit with Monthly Income Scheme
Recurring Deposit with Monthly Income Scheme has features of a Recurring Deposit (RD) in Investment phase and Annuity Fixed Deposit in Payout phase. During the Investment phase, the depositor parks the regular RD instalments to build a corpus. Once the Investment phase completes, the entire maturity proceeds will be invested in the Annuity Fixed Deposit for the Payout period. The payout frequency under this RD scheme will be monthly.
- Minimum value of instalment: Rs 2,000 per month and thereafter in multiples of Rs 100
- Tenure:
- This tenure for this RD scheme would consist of two parts — Investment phase and Payout phase.
- The investment phase will be for at least 2 years and in the multiples of 3 months
- The payout (repayment) phase will be for at least 2 years and in the multiples of 12 months.
- Once the deposit tenure along with the tenures for Investment phase and Payout phase are specified, it cannot be changed.
- Rate of interest:
- The booked interest rate will be applicable for both the Investment phase and the Payout phase.
- The rate of interest will be applicable as per the total tenure, including both Investment (RD) and Payout (FD) phase.
- Interest earned on the Deposit during tenure will be subject to Tax Deducted at Source (TDS).
- Partial withdrawal: Not allowed in both the phases.
- Premature Closure: Allowed during both phases. However, applicable premature withdrawal penalty will be applicable.
- Delayed RD Instalment Penalty: If the instalment for the month is not paid on or before the last working day, delayed instalment penalty of Rs 12 per Rs 1,000 shall be applicable as per the prevailing policy.
- Eligibility: Resident individuals, singly or jointly
Recurring Deposit with Lumpsum and Monthly Income Scheme
Recurring Deposit with Lumpsum and Monthly Income Scheme is similar to the above RD scheme. The only difference is that under this scheme, on completion of the investment deposit phase, the bank will pay 30% of the entire maturity proceeds upfront and the balance amount will be reinvested in an FD with monthly Payout option for the Payout period. The monthly payouts will be credited to the Savings Account of the depositor.
ICICI Bank Premature Withdrawal of RD
In case of premature withdrawal, ICICI Bank will calculate interest at the rate applicable for the period the deposit has remained with the bank. The penalty on premature withdrawal will be levied on the rate applicable as below.
Penal Rates on Premature Withdrawal of ICICI Recurring Deposit
| Original Tenure of Deposit | Penal Rates | |
| Less than Rs 5 crore | Rs 5 crore & above | |
| Less than 1 year | 0.50% | 0.50% |
| 1 year and above but less than 5 years | 1.00% | 1.00% |
| 5 years and above | 1.00% | 1.50% |
Penal Rates on Premature Withdrawal of iWish Goal Based Savings
| Original Tenure of Deposit | Penal Rates |
| Less than Rs 5 Crore | |
| Less than 1 year | 0.50% |
| 1 year and above but less than 5 years | 1.00% |
How to Apply for ICICI Bank RD Schemes?
Customers can open ICICI RD account, using any of the following methods:
- Mobile Banking
Customers need to download and install the iMobile app in their mobile phones and login using the registered login credentials.
- Internet Banking
Customer need to login to the official website of ICICI Bank using the registered User ID and password.
- Customer Care
Customers can also call on the ICICI Bank’s Customer Care number to open their RD account.
- Branch Visit
Customers can walk in to the nearby branch of ICICI Bank and fill out the RD form to open their RD account.