Frequently Asked Questions
A Recurring Deposit allows you to invest small amounts of money every month, helping you build a large corpus by the end of the term. You can open an RD through:
Internet Banking
iMobile App
ICICI Bank Branch
Customer Care (1800 1080).
The minimum deposit is ₹ 500 per month, with subsequent deposits in multiples of ₹ 100.
You can open a Recurring Deposit for a minimum period of 6 months, with subsequent terms in multiples of 3 months, up to a maximum of 10 years.
Yes, nomination facilities are available for Recurring Deposits in the name of individuals.
Yes, you can change the nominee(s) by filling out a form available at any ICICI Bank Branch.
ICICI Bank offers the following RD variants:
iWish Goal-Based Savings (Flexible RD)
Normal RD
For more details, please click here .
Yes, TDS is applicable on interest earned from Recurring Deposits. The bank will deduct tax at source if the total interest exceeds ₹ 40,000. A valid PAN is required to avoid higher TDS rates. Form 15G/H will not be valid without PAN.
High interest rates, similar to Fixed Deposits
Loan facility against your RD
Minimum monthly deposit: ₹ 500; subsequent deposits in multiples of ₹ 100
Minimum deposit period: 6 months (extended in multiples of 3 months)
Nomination facility
Fund transfer to RD account through Internet Banking
Online tracking of RD investments.
Yes, you can redeem your Recurring Deposit early. Interest will be paid based on the rate applicable at the time of deposit and for the period it was held. However, a penalty may be charged for the same.
Click here to know the current interest rates.
The minimum deposit is ₹ 500 per month, with subsequent deposits in multiples of ₹ 100. The tenure can range from 6 months to 10 years in multiples of 3 months.
No interest is payable if the deposit is prematurely withdrawn within 7 days of opening, and no premature closure charges are applicable.
Yes, senior citizens enjoy higher interest rates on Recurring Deposits. Please click here to view the current rates.
No, a physical receipt is not issued for Recurring Deposits. The details will be available in your account statement and on the account summary page after logging into Internet Banking.
Yes, your FD/RD/iWish will be closed automatically on maturity and the closure proceeds will be credited to the linked Savings Account. If the amount is not credited, you can call Customer Care on 1800 1080 from your registered mobile number.