ICICI RD Scheme: Latest Interest Rates You Should Know

Recurring Deposits (RDs) are a great investment option to save money while earning some interest. As RD is a great investment option, you have the flexibility to invest for the short or long term as per your financial needs. You can deposit a fixed amount every month and over time, it adds up with interest, enhancing your potential returns.  

ICICI Bank offers attractive RD interest rates that vary depending on how long you intend to save. It is a simple and steady option if you are looking to grow your savings without taking risks. However, pre-mature withdrawals come with penalties and you can also incur TDS if your earnings exceed a certain limit.  

Read below to learn more about ICICI Bank RD interest rates in detail.  

ICICI Bank Latest RD Interest Rates of 2025 

As per the revised ICICI Bank interest rates, your rate of interest depends on the maturity period you choose.  

Here is a detailed breakdown of interest rates as per different maturity tenures:  
 

Maturity Tenure	General Investors	Senior Citizen Investors
6 months	4.75%	5.25%
9 months	6.00%	6.50%
12 months	6.70%	7.20%
15 months	7.25%	7.85%
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%

Note that the interest rates are subject to change and you can open a deposit for at least 6 months. You can keep investing in an ICICI Bank RD for up to 10 years and you must confirm the interest rates with the bank before starting an RD.  

Features and Benefits of ICICI Bank Recurring Deposits (RD) 

With a recurring deposit in ICICI Bank, you can start investing with a minimum of ₹500 and choose a flexible investment tenure.  

Some features of ICICI Bank RD include: 

• You can start an RD with ICICI Bank by depositing as little as ₹500 per month, making it easy to begin your savings journey. The amount can be increased in multiples of ₹100, offering flexibility to grow your contribution as your income increases. 
• ICICI Bank offers flexible tenure options ranging from a minimum of 6 months to a maximum of 10 years. You can choose a tenure based on your financial goals and increase it in multiples of 3 months to suit your savings plans. 
• You can assign a nominee to your ICICI RD account for added security.  
• ICICI Bank RDs come with good interest rates, much like fixed deposits, so that you can gain higher returns on your savings. But you need to keep in mind that Tax Deducted at Source (TDS) is deducted from the interest received according to tax regulations. 
• ICICI Bank gives you the convenience of opening an RD without having to step into a branch of a bank. You have the liberty to open your RD account through the official iMobile app or net banking.  

Steps to Open a Recurring Deposit with ICICI Bank  

You can open your ICICI Bank RD in a few clicks through the net banking account or official mobile app. You can also complete the process by calling the customer care number.  

Here are detailed steps for each of the processes.  

Through Net Banking  

1. Log in to www.icicibank.com using your Internet Banking User ID and password 

2. Click on ‘My Accounts’ in the main menu 

3. Select ‘Open Fixed/Recurring Deposit’ from the dropdown 

4. Choose ‘Open Recurring Deposit. 

5. Enter the monthly deposit amount, tenure and other required details 

6. Review the entered details and accept the terms and conditions 

7. Click on ‘Submit’ to complete the RD opening process 

Through iMobile App 

1. Log in to the iMobile Pay app using your 4-digit PIN 

2. Go to ‘Accounts & Deposits’ and select ‘Deposits (FD/RD)’ 

3. Tap on ‘Open Recurring Deposit’ and follow the on-screen instructions to complete the setup 

Through Customer Care 

1. Dial the ICICI Bank helpline number and listen to the IVR instructions carefully 

2. Select the option to speak with a customer care executive and request to open a Recurring Deposit 

While Recurring Deposits (RDs) are a safe investment option with guaranteed returns, there may be times when you may need quick funds. These can either be for unforeseen medical expenses or urgent debt repayments. When stuck with financial shortfalls, a personal loan can prove to be a convenient option.  

With Fibe, you can get an instant personal loan of up to ₹5 lakhs with a 100% digital application process. With attractive rates and easy repayment of up to 36 months, Fibe’s personal loans guarantee fast approvals and disbursals. Download the Fibe App today to get instant access to funds to fulfil our emergency expenses! 

Frequently Asked Questions 

Can I withdraw my ICICI Bank RD anytime? 

Yes, you can withdraw your funds deposited in the ICICI bank RD anytime. However, you must note that pre-mature withdrawals incur penalty charges. 

Is RD amount automatically deducted in ICICI Bank? 

Yes. If you have sufficient funds in your account, you can choose to auto-debit instalments.  

What is the penalty for breaking RD in ICICI Bank? 

The penalty rate for breaking RD in ICICI Bank depends on the original tenure of the deposit. If the tenure is less than 1 year, you will incur 0.50% penalties. If the tenure is more than 1 year but less than 5 years, you will incur 1.00% penalties. If the tenure is more than 5 years, you will still incur 1.00% penalties.  

Can I close RD before maturity in ICICI Bank? 

Yes. You can choose to close your RD before maturity in ICICI Bank. However, you might incur some penalty charges and you might also not earn complete interest as determined prior.