ICICI RD Interest Rates 2020, ICICI Recurring Deposit Interest Rates

ICICI RD Interest Rates: Invest fixed sum of amount on monthly basis in ICICI Recurring Deposit and get attractive interest rates. Build up your savings through regular monthly deposits of a fixed sum over a period of time with ICICI RD. This is a great option for those who have fewer earnings as the monthly deposit amount is very less in ICICI Account. ICICI Bank Recurring Deposit (RD) is an ideal way to invest small amounts of money every month and end up with a large kitty on maturity.

Recurring Deposit allows customers with an opportunity to build up their wealth securely through regular monthly deposit of fixed sum over a period of time. Invest very small amounts in Recurring Deposit and get Fixed Deposit interest rates! Maximise its benefits to suit your needs.

Key Benefits of ICICI Recurring Deposit

FEATURES BENEFITS
Attractive Interest Rates
  • Upto 5.50% for Senior Citizens
  • Upto 6.30% for Individuals
Flexible Tenor Options

  • Minimum Tenor
  • Maximum Tenor
  • 6 Months
  • 10 Years
Minimum Amount As low as ₹ 50O
Deposit Multiples As low as ₹ 100
Ease of Booking Open RD on click of a button using internet or mobile banking.

ICICI RD Interest Rates 2020

Effective Date – September 07, 2020

Maturity Period Rate of Interest (% p.a.) w.e.f September 07, 2020
General Senior Citizen
6 months 3.50 4.00
9 months 4.40 4.90
12 months 5.00 5.50
15 months 5.00 5.50
18 months 5.10 5.60
21 months 5.10 5.60
24 months 5.10 5.60
27 months 5.15 5.65
30 months 5.15 5.65
33 months 5.15 5.65
36 months 5.15 5.65
Above 3 years upto 5 years 5.35 5.85
Above 5 years upto 10 years 5.50 6.30

List of Other Banks Offering RD

State Bank of India HDFC Bank ICICI Bank Axis Bank
Indian Bank RBL Bank IDBI Bank IDFC Bank
Corporation Bank Andhra Bank PNB Bank Canara Bank
Union Bank of India Central Bank Bank of India Bank of Baroda
Jana Bank AU Bank Equitas Bank UCO Bank
Syndicate Bank Allahabad Bank Kotak Mahindra Bank

Terms and Conditions on ICICI RD Account:

  • Loan against deposit
  • High rates of interest (identical to the fixed deposit rates)
  • An investment as small as Rs. 500 (and in multiples of Rs. 100 there after) or as large as Rs. 14,99,900 per month
  • A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.

    For NRI customers, the minimum tenure of RD is 12 months.

  • For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
  • ICICI reserves the right to close the recurring deposit in case the customer misses 5 consecutive recurring deposit instalments.
  • The minimum tenor of Recurring Deposit should be 6 months.
  • The minimum instalment amount should be ₹ 500.
  • The instalment amount should be in multiples of ₹ 100.

Who is eligible? for ICICI RD

  • Resident individuals
  • Hindu Undivided Families
  • Private & Public Limited Companies
  • Trust & Societies

How to Apply for ICICI RD Account

  • ICICI Existing customers can open Recurring Deposit through his bank Mobile Banking Application and ICICI Internet Banking.
  • Visit the nearest ICICI branch and open Recurring Deposit
  • You can also contact ICICI and our Customer Care Executive will fix a service appointment with our Relationship Manager to help you with the application process.

Recurring Deposit: Special Features

  • For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
  • An investment as small as Rs. 1000 (and in multiples of Rs. 100 thereafter) or as large as Rs. 14,99,900 per month
  • A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
  • Ease to submit 15G/H form through Netbanking
  • Set instructions to convert your RD into an FD at maturity
  • Availing nomination facility while booking deposit online

Documents Required to Open ICICI RD Account

Proof of Identity

  • Aadhaar Card
  • Passport
  • PAN card
  • Voter ID card
  • Driving license
  • Government ID card
  • Photo ration card
  • Senior citizen ID card

Address proof

  • Aadhaar Card
  • Passport
  • Telephone bill
  • Electricity bill
  • Bank Statement with Cheque
  • Certificate/ ID card issued by Post office