ICICI RD (Recurring Deposit) Calculator Online
Calculate the returns on your recurring deposit investment
Goal Amount
Expected Return (P.A)
Time Period
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Total Investment Breakup
Lumpsum Investment
Interest Earned
Total Investment
| Year | Investment Amount (₹) |
Wealth Gained (₹) |
Expected Amount (₹) |
|---|
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ICICI RD Calculator
All you need to know about the ICICI RD Investment Calculator
ICICI Bank stands as a leading player among India’s private sector banks. Renowned for its extensive array of financial offerings catering to individuals, enterprises, and corporations alike. The bank’s spectrum of services encompasses savings and current accounts, loans, credit cards, insurance, investment opportunities, etc. Therefore, an illustration of its commitment to enhancing customer financial planning is the ICICI RD Calculator, a tool that aids individuals in gauging potential returns from their recurring deposit investments.
What is ICICI Bank RD Calculator?
The ICICI Recurring Deposit Calculator or ICICI RD calculator functions as a financial instrument designed to assist in determining the final maturity sum of your RD investment. But what is RD investment? A Recurring Deposit or RD is a savings plan where you put in a set amount of money at consistent intervals, usually every month, for a certain stretch of time.
The way ICICI Bank RD interest rates adds up is quite similar to Fixed Deposits, but in this case, it’s based on the monthly deposits you make. However, you can open a ICICI RD with a minimum of ₹500 per month and thereafter, deposit in multiples of ₹100.
Thus, the ICICI RD calculator the takes into account the following factors:
- Monthly recurring deposit amount
- RD Interest rate
- Term of investment
How to Use the smallcase ICICI Bank RD Calculator Online?
Imagine you’re putting money into smallcase ICICI Recurring Deposit (RD) to save up for something special – it could be a vacation, a new gadget, or just a rainy day fund. Now, the ICICI RD Calculator is like your friendly virtual helper. It shows you the amount you’ll have when the RD matures, including the interest you’ve earned.
Let’s understand how smallcase ICICI RD interest rates calculator works.
Step-1:
Open the ICICI RD calculator on smallcase.
Step-2:
Enter the desired amount that you wish to invest every month.
Step-3:
Enter the RD interest rate in ICICI recurring deposit calculator by sliding the bar or typing in manually.
Step-4:
Input the time period (in years or months)
ICICI Bank RD Interest Rate Formula to Calculate the Maturity Amount
When it comes to understanding how your money grows in an ICICI Recurring Deposit, then the ICICI RD Interest Rates calculator formula can be relied on. Therefore, smallcase uses a global standardization method to calculate ICICI RD rates to determine the total returns you have incurred. The ICICI RD calculator formula is as follows:
A= P x (1+R/N) ^ (NT)
The variables in this ICICI RD calculator equation represent the following:
| M | Maturity amount |
| P | Recurring Deposit (RD) |
| R | RD interest rates |
| N | Number of times interest is compounded |
| T | Time period |
Let’s take an example. Suppose an investor decides to make an ICICI Bank recurring deposit (ICICI RD) of ₹1000 per month for a tenure of 24 months. His recurring monthly deposit accrues at an interest rate of 4.90% (general citizen rates for RD) for 1 year. Since manually entering the values and going through the math to find the ICICI RD maturity value can be an extremely tedious process. So, use smallcase ICICI Bank RD calculator.
After entering the above mentioned values in the ICICI RD calculator, you will get the following results using the ICICI Bank interest rates formula in minutes:
Amount invested = ₹12,000
Expected return rate amount = ₹12,362
Interest Earned = ₹362
ICICI Bank Documents and Eligibility for RD Account
To open an ICICI Bank Recurring Deposit (RD) account, you’ll need to provide a few essential documents and meet specific eligibility criteria. Here’s what you’ll typically need:
Documents Required for ICICI Bank RD Account Opening
- Account application form
- Recent passport-size photo
- KYC documents
- For Individuals and Companies: PAN Card, Passport Copy, Aadhar Card, Voter’s ID, Driving License
- For HUFs: HUF declaration deed, HUF bank statement, self-attested PAN card
- For Partnership Firms: Certificate of Incorporation, Partnership deed, ID proofs of all signatories.
Eligibility Criteria Required for ICICI Bank RD Account Opening
- Resident Individuals
- Non-Resident Indians (NRIs) and Persons of Indian Origin PIOs
- Organizations
- Sole proprietorship firms
- HUFs
- Trusts and companies
- Partnership Firms
- Public and Private Limited companies
ICICI Recurring Deposit Interest Rates
When it comes to maximizing your savings through a Recurring Deposit (RD) with ICICI Bank, they offer distinct interest rates for senior citizens and general citizens. Therefore, to explore and compare the RD interest rates offered for different tenure options, you can make use of the RD Interest Calculator ICICI provides.
The following table illustrates various ICICI Bank RD interest rates, providing a clearer perspective.
| Maturity Period | ICICI Bank RD Interest Rates | |
| General | Senior Citizen | |
| 6 months | 4.75% | 5.25% |
| 9 months | 6.00% | 6.50% |
| 12 months | 6.70% | 7.20% |
| 15 months | 7.10% | 7.60% |
| 18 months | 7.10% | 7.60% |
| 21 months | 7.10% | 7.60% |
| 24 months | 7.10% | 7.60% |
| 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 upto 5 years | 7.00% | 7.50% |
| Above 5 years upto 10 years | 6.90% | 7.50% |
Advantages of Using the smallcase ICICI RD Calculator
ICICI Bank RD Calculator is a useful tool that can help you make informed decisions about your RD investment. Now, let’s have a look at its advantages:
- Easy to Use: The ICICI RD calculator is a simple and user-friendly tool that can be used by anyone.
- Saves Time: You don’t need to do any complex calculations yourself. The ICICI RD interest rates calculator will do it for you in a few seconds.
- Helps to Plan Your Investment: The ICICI RD calculator can help you determine the monthly deposit amount and tenure of your ICICI recurring deposits to achieve your financial goals.
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Frequently Asked Questions
What is the RD rate at ICICI Bank?
ICICI Bank mainly provides two types of recurring deposits interest rates i.e for senior citizens the ICICI Bank RD interest rates is 5.50% while for general citizens it is 6.30%.
How is RD maturity calculated in ICICI Bank?
The RD maturity value in ICICI Bank is calculated using the following formula: Maturity amount = P(1 + r/n) ^ nt.
Do ICICI Bank RDs come with nomination benefits?
Yes, the ICICI Bank RDs offers a single nominee option to its users. To do this, simply fill the form specified in the Banking Companies (Nomination Rules), 1985. For additional information, please visit the nearest ICICI Bank branch.
Does ICICI Bank provide loans against RD?
Yes, ICICI Bank provides loans against RD. The loan amount is typically 70% to 90% of the balance amount in your RD account. However, the ICICI Bank RD interest rates on the loan are usually lower.
How are RDs taxed?
According to Finance Bill, 2015, effective June 1, 2015, TDS is applicable on Recurring deposits (RDs) in India. ICICI Bank might deduct tax on interest exceeding ₹40,000 directly at the bank level instead of the current branch level process.
How to use the RD calculator online?
Follow the below-mentioned steps to know ICICI Bank RD interest rates on your investments in minutes:
Step-1:
Open the ICICI RD calculator
Step-2:
Enter the desired amount that you wish to invest every month.
Step-3:
Enter the RD interest rate in ICICI recurring deposit calculator by sliding the bar or typing in manually.
Step-4:
Input the time period (in years or months)
Can I withdraw RD at anytime?
No, unlike a savings account you cannot withdraw RD at anytime because a fixed amount of money is deposited every month for a fixed period of time. The minimum tenure for RD deposit is 6 months (and in multiples of 3 months thereafter) upto 10 years.
Are senior citizens eligible for any extra benefits on ICICI Bank RDs?
Yes, they do get extra benefits in the form of higher interest rates.
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