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ICICI Bank RD Interest Calculator

RD Calculator ICICI in India Sep 2020

Last Updated 21st Sep 2020

Tenure General Rates Senior Citizen Rates
6 months 4.75% 5.25%
9 months 5.25% 5.75%
12 months 5.80% 6.30%
15 months 5.80% 6.30%
18 months 5.80% 6.30%
21 months 5.80% 6.30%
24 months 5.80% 6.30%
27 months 6.00% 6.50%
30 months 6.00% 6.50%
33 months 6.00% 6.50%
36 months 6.00% 6.50%
3 years 1 day to 5 years 6.00% 6.50%
5 years 1 day to 10 years 6.00% 6.50%

Calculate RD Maturity Amount of All Banks in India

ICICI Bank RD Calculator
Investment Offers with High Returns offerOffers
Bank/NBFCs Rate Tenure Action
Bajaj Finance FD7.35%60 MonthsAPPLY
PNB Housing Finance FD7.20%120 MonthsAPPLY
DBS Bank Savings Account5.00%N.A.APPLY

ICICI Recurring Deposit Calculator

ICICI Bank, a leading Private Bank in India offers attractive interest rates upto 6.00% on its Recurring deposits.
RD maturity amount that you will get depends upon

  • Deposit amount
  • Rate of interest
  • RD tenure
  • Compounding frequency
  • TDS applicability and TDS rate

ICICI Recurring Deposit Interest Calculator

  • In a periodic interest payout option, ICICI Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain same across the life of the deposit. On maturity of RD, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a ICICI Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the RD maturity amount using the RD calculator.

Tax on Recurring Deposit ICICI Bank

  • In case the interest earned by you across all your recurring deposits across all branches of ICICI Bank in a year exceeds 10,000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the ICICI Bank records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your RD.
  • We aren’t done yet. This was only the TDS. Now, you would need to add the interest income on all your ICICI Bank RD’s and other RD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. You must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
  • ICICI Bank will also issue you a Form 16A giving details of tax deducted on RD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.

ICICI RD interest rate calculator – Check your city

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • To know more or apply, contact any of the branches of ICICI Bank in your city

FAQs

What is the highest interest earned on ICICI Bank recurring deposit?

You can earn a maximum interest of 6.00% on ICICI Bank recurring deposit.

Are there any extra benefits for senior citizens on fixed deposit of ICICI Bank?

Yes, senior citizens get extra benefit of 0.5% interest rates on their RD in ICICI Bank.


ICICI News - Sep 2020
  • 2020-07-09 : Banks exceed digital transaction target set for 2019-20
    The government notified that 17 banks received an overall good rating for their performance on digital transactions in 2019-20, with ICICI Bank topping the list of 56 banks and closed wallets. The result is the indication of ameliorating banking services like providing retail and business loans digitally with ease.
  • 2020-03-31 : ICICI Bank introduced ICICIStack
    ICICI Bank introduced ICICIStack; customers can now undertake almost all banking services digitally. ICICIStack’ offers the first digital service that enables instant opening of savings to account along with an instant FD or instant PPF, among others.
  • 2019-05-09 : ICICI Bank announces the launch of new service icicibankpay to open FD and RD accounts via twitter
    Private sector lender, ICICI Bank has announced the launch of its new service ‘icicibankpay’ which will help customers to open a new fixed deposit and recurring deposit account via Twitter. Additionally, one can even pay postpaid mobile bills, and also link Aadhaar card with a bank account using the Twitter account. The individuals who want to avail these services will have to register on Twitter account and follow @icicibank to start the transaction.
  • 2018-08-17 : ICICI Bank revises RD rates
    ICICI Bank has revised its interest rate on recurring deposits or RDs for the selected maturities. The Interest rate on RD with a maturity of nine months is increased to 6.50%, which was 6.25% earlier. For senior citizens, the rate has now been revised to 7.00% from 6.75% earlier. Similarly, for the maturity period eighteen months to twenty four months will fetch an interest rate of 7.00%, which was 6.75% earlier. For senior citizens, the new rates are 7.50 against 7.25% earlier. The new rates are effective from August 14, 2018.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More