ICICI RD Calculator

ICICI RD Calculator

The ICICI RD Calculator helps you estimate the maturity value and interest earned on your monthly recurring deposit investments with ICICI Bank. Whether you’re saving for a future expense or building a disciplined savings habit, this calculator offers accurate projections to guide your financial planning.

What Is an ICICI Recurring Deposit?

An ICICI Recurring Deposit (RD) allows you to invest a fixed amount every month for a specified tenure at a pre-agreed interest rate. It’s a secure and predictable way to grow your savings over time.

Key Features

• Tenure: 6 months to 10 years
• Minimum deposit: ₹500 per month
• Interest rate: Ranges from 4.75% to 7.10% per annum, based on tenure and customer profile
• Senior citizen benefit: Additional interest of up to 0.50% p.a.
• Compounding frequency: Quarterly
• Taxation: Interest is taxable; TDS applies if interest exceeds ₹40,000/year (₹50,000 for senior citizens)

How the ICICI RD Calculator Works

Inputs Required

• Monthly deposit amount
• Tenure (in months or years)
• Applicable interest rate (p.a.)

Formula Used

Maturity Amount = P × [ (1 + r/n)nt – 1 ] / (1 – (1 + r/n)–1/3)

• P: Monthly deposit
• r: Annual interest rate (in decimal form)
• n: Number of compounding periods per year (typically 4)
• t: Tenure in years

Output Provided

• Total investment (sum of all deposits)
• Total interest earned
• Final maturity value

Example

If you deposit ₹5,000 per month for 3 years in an ICICI RD at 7% annual interest:

• Total investment = ₹1.8 lakh
• Interest earned ≈ ₹20,700
• Maturity value ≈ ₹2.01 lakh

Benefits of Using the ICICI RD Calculator

• Accurate Estimates: Quickly know maturity amount and interest
• Flexible Planning: Try different tenures and rates to suit your goal
• Goal-Based Saving: Helps you plan monthly savings towards future needs
• Safe Option: Suitable for risk-averse, fixed-income investors

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.