Friday, May 08, 2009

My question to ICICI Bank
-----Original Message-----
Branch Id : 0000 Account Id : 000000000000000
I would like to know the current rate of interest provided for Recurring Deposit.

Assume that I have opted for a 10 year RD, is the interest rate fixed for the whole tenure or its floating?



Reply from ICICI Bank

Dear Mr. Ali,

We thank you for your interest in opening an Recurring Deposit account with us.

Recurring Deposit account can be opened for a minimum deposit of Rs.500 and thereafter in multiples of Rs.100.

Recurring Deposit can be opened for a minimum period of 6 months, and thereafter in multiples of 3 months upto a maximum period of 10 years and the Interest is quarterly compounded in case of Recurring Deposits.

You will not get a receipt of the RD, instead the RD value will reflect in the statement that the customer receives for his account with the Bank.

In case of delay in payment of any instalment, the Bank will collect penalty at the rate of Rs.12 per Rs.1000 or part thereof or such other rate as may be specified by ICICI Bank for the period of delay.

Note: Partial amount withdrawal is not allowed in Recurring Deposits.

Please note that you can open Recurring Deposit (RD) by any of these options:

You to follow these simple steps to open a new Recurring Deposit:

* Select 'Bank Account' from the top menu
* Click on 'Service Request' from the left-hand side menu
* Click on the link 'Open A Recurring Deposit'
* Fill in the detailed required in the application form and click on the button 'Submit'
* Enter the transaction password and confirm the transaction for the creation of Recurring Deposit online
* Authenticate using the debit card authentication to make the transaction successful.

b. Call our 24-hour Customer Care.

To check the customer care number we request you to click on below mentioned link :

c. Visit any of the nearest branch of ICICI Bank and place a request.
We request you to follow the below mentioned steps to view the interest rates for Recurring Deposit from our site:

*Login to

*Click on 'Personal Banking'

*Click on 'Deposits'

*Click on 'Recurring Deposit'

*Click on 'Interest Rates'

Alternatively, the link for interest rate is :


Prasanna Lakshmi
Account Manager
ICICI Bank Limited

"ICICI Bank now offers 8.25% of interest p.a. on fixed deposits for 390 days, 590 days & 990 days w.e.f. 24.04.2009. Please contact any ICICI Bank branch."

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