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Recurring Deposits
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Recurring Deposits - FAQs



What are the features of an ICICI Bank Recurring Deposit?
The features of an ICICI Bank Recurring Deposit are:
  • High rates of interest, identical to the fixed deposit rates.
  • Check on recurring account receivable, recurring account payable, recurring account fees and all recurring debit account transactions.
  • Avail loan against your ICICI Bank Recurring Deposit.
  • Non-applicability of Tax Deduction at Source (TDS).
  • Minimum balance of Rs. 500 per month; deposits thereafter in multiples of Rs.100.
  • Minimum deposit period is 6 months, and thereafter in multiples of 3 months.
  • Nomination facility.
  • Transfer funds to your Recurring Deposit Account in seconds through Internet Banking.
  • Track your investments with us through your online Recurring Deposit Account; process your recurring payments through our recurring billing.
What is the minimum deposit amount required for opening a Recurring Deposit account?
You can open a Recurring Deposit account for a minimum deposit of Rs 500/- per month. What is the multiple in which I can open a Recurring Deposit account?
You can open a Recurring Deposit account for a minimum deposit of Rs 500/- and thereafter in multiples of Rs 100/- What is the range of tenure for which I can open a Recurring Deposit account?
You can open a Recurring Deposit for a minimum period of 6 months, and thereafter in multiples of 3 months upto a maximum period of 10 years. Is TDS applicable on Recurring Deposits?
No, TDS is not applicable on Recurring Deposits. How do I approach ICICI Bank to open a Recurring Deposit?
You can approach us in any of the following ways Will I get a receipt for my Recurring Deposit?
No, you will not get a receipt of your RD however the details of the RD would be updated in your account statement and in the account summary page in the logged in section. Do Senior citizens get any extra benefit on Recurring Deposits?
Yes, they do get extra benefits in the form of higher interest rates. Please click here for Interest Rates. Can I redeem my Recurring Deposit before the original term?
In the event of the Recurring Deposit being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with the Bank. In case of premature withdrawal the deposit may be subject to a penal rate of interest as prescribed by the Bank on the date of deposit. What are the nomination facilities available on Recurring Deposits?
Nomination facility is available for relationships in the names of individuals. Can I change the nominee(s) for my Recurring Deposit?
You change the nominee(s) during the currency of the accounts with the Bank, by making a declaration effect in the appropriate form, which is available with any ICICI Bank branch.