Savings Calculators
ICICI RD Calculator
ICICI Bank, one of India's largest private-sector banks, offers recurring deposits that let you commit a fixed monthly amount and earn a guaranteed return at rates aligned with its fixed-deposit card. ICICI RDs run from 6 months to 10 years, and deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh per depositor. Use this ICICI RD calculator to estimate your maturity value and interest earned — enter your monthly deposit, an indicative interest rate and tenure to see your returns with quarterly compounding.
- Invested
- ₹3,00,000
- Interest Earned
- ₹59,664
Maturity Value
₹3,59,664
- Invested83%
- Interest Earned17%
Formula
M = R × [((1 + i)ⁿ − 1) ÷ i] × (1 + i), where i = (1 + r/4)^(1/3) − 1
- R
- Fixed monthly deposit paid into the ICICI RD.
- i
- Effective monthly rate derived from the quarterly rate r/4.
- n
- Total number of monthly deposits (years × 12).
ICICI Bank takes a monthly deposit but compounds interest quarterly, so the quarterly rate is converted to an equivalent monthly rate. The rate shown is indicative — confirm the live RD rate on ICICI Bank's website, as it tracks the FD card and varies by tenure. The maturity figure is before TDS.
Worked example
Suppose you deposit ₹5,000 every month into an ICICI Bank recurring deposit at an indicative rate of 7.00% per annum for 5 years (60 deposits), with quarterly compounding.
- Monthly Deposit (R)
- ₹5,000
- Interest Rate (p.a.)
- 7.00% (indicative)
- Tenure
- 5 years (60 months)
You deposit ₹3,00,000 in total. The ICICI RD matures to about ₹3,59,664 — meaning roughly ₹59,664 of interest on top of your deposits. Earlier instalments compound for longer, so they contribute the most interest.
Year-by-year growth
Based on the default ICICI RD Calculator values above. The final year matches the maturity value shown by the calculator — change the inputs to project your own plan.
- Total invested
- ₹3,00,000
- Interest earned
- ₹59,664
- Maturity value
- ₹3,59,664
- Value / invested
- 1.20×
Over 5 years, your ₹3,00,000 grows to about ₹3,59,664 — roughly 1.20× what you put in, thanks to compounding.
| Year | Invested | Interest earned | Maturity value |
|---|---|---|---|
| 1 | ₹60,000 | ₹2,311 | ₹62,311 |
| 2 | ₹1,20,000 | ₹9,099 | ₹1.29 Lakh |
| 3 | ₹1,80,000 | ₹20,686 | ₹2.01 Lakh |
| 4 | ₹2,40,000 | ₹37,418 | ₹2.77 Lakh |
| 5 | ₹3,00,000 | ₹59,664 | ₹3.60 Lakh |
How this ICICI RD calculator works
Adjust the monthly deposit, interest rate and tenure sliders to see your ICICI RD maturity value and interest earned update instantly, with a breakdown of deposits versus interest. The rate is pre-set to an illustrative 7.00% — change it to the rate ICICI Bank quotes for your tenure. The calculator converts the quarterly rate to an effective monthly rate, so each deposit earns the right interest for the months it remains invested.
Why an ICICI recurring deposit
An ICICI RD is built for savers who want guaranteed, FD-grade returns but prefer to build the corpus through monthly instalments. The rate is fixed at booking, the maturity value is known in advance, and DICGC cover protects up to ₹5 lakh. For a lumpsum you already hold, an ICICI FD may be a better fit; for long-horizon wealth goals, compare against a market-linked SIP.
Tips for ICICI RD savers
- Choose a sustainable instalment you can pay for the full tenure to avoid default penalties.
- Enable auto-debit through iMobile or NetBanking so deposits are never missed.
- Align the tenure with your goal so the RD matures exactly when you need the money.
- Use the senior-citizen rate if eligible to boost the maturity value.
- Budget for TDS on the interest when setting your target amount.
faq
Frequently asked questions.
What is the minimum ICICI RD amount and tenure?
ICICI Bank recurring deposits start from ₹500 per month (in multiples of ₹100) and run for tenures from 6 months up to 10 years. The instalment is fixed for the tenure you choose. Use the sliders to see how the amount and tenure affect your maturity value.
Does ICICI offer a flexible recurring deposit?
Alongside the standard RD, ICICI Bank offers a flexible recurring deposit (often called iWish) that lets you save variable amounts rather than a fixed instalment. This calculator models the standard fixed-instalment RD; for a flexible plan your actual maturity depends on what you deposit each month.
What happens if I miss an ICICI RD instalment?
A missed deposit attracts a small penalty per defaulted instalment, and repeated defaults can lead to premature closure. Automating the debit from your ICICI savings account is the simplest way to stay on track.
Is ICICI RD interest taxable?
Yes. Recurring-deposit interest is taxable as income, and ICICI Bank deducts TDS at 10% once your total deposit interest crosses the annual threshold. The maturity value shown is before tax; submit Form 15G/15H if your income is below the exemption limit.
Can I close an ICICI RD early?
Yes. Premature closure is allowed, but interest is then paid at the rate applicable for the period the deposit actually ran, less a penalty, so the effective return is lower than the booked rate. A loan against the RD can meet a short-term need without breaking it.