ICICI Bank Senior Citizen RD Interest Rates

What is the ICICI Bank Senior Citizen RD?

ICICI Bank Senior Citizen Recurring Deposit (RD) is a saving plan for investors who are 60 years and older. They can invest a fixed monthly amount with a higher preferential interest rate. The tenure starts from a minimum of 6 months and extends up to a maximum of 10 years, and may be selected in multiples of 3 months.

The scheme has a minimum deposit of ₹500 per month and once you have made the first deposit, you can deposit more in multiples of ₹100. An RD calculator can also be used for accurate estimation. It is an online tool that lets you estimate how much you need to save and plan your savings better.

ICICI Bank RD Rates for Senior Citizens

Below are the RD interest rates across various tenures, offering better returns with flexible investment options.

*ICICI Bank RD Senior Citizen RD Interest Rates w.e.f. December 29th, 2025

Key Features of ICICI Bank Senior Citizens RD

The ICICI Bank senior citizen RD is designed to offer stable returns with these features:

• Standing Instruction for Monthly Deposits: Senior citizens can set up a standing instruction with the monthly RD instalment debited from their savings account. This helps in keeping the payments on time every month, and it is more convenient and reliable than visiting the branch often.
• iWish Goal-Based Savings Option: ICICI Bank has launched the iWish plan, a flexible RD plan for senior citizens, which lets you save for specific goals without requiring a fixed monthly instalment.
• Premature withdrawal: The bank allows you to opt for ICICI Bank RD premature withdrawal and close the deposit before maturity if needed. Though it comes with certain penalty charges. For deposits less than ₹5 crore, the penalty on the RD interest rate is 0.50% if withdrawn within 1 year and 1% if withdrawn after 1 year. No interest is paid if the RD is closed within 7 days of opening.
• Late Instalment Penalty: Pay the monthly instalment on time to avoid penalties. A fine of ₹12 per ₹1000 per month is imposed for each delay, which could affect overall returns.
• Loan against RD Facility: ICICI Bank loan against RD allows you to borrow up to 90% of your invested RD amount, while still receiving interest. The interest rate charged on the loan is normally 2-3% above the RD rate.

How To Open an ICICI Bank Senior Citizens RD

It is easy to open an ICICI Bank Senior Citizen RD both online and offline, whichever is convenient to you.

Online Method

Opening an ICICI Bank Senior Citizen RD online requires account holders to follow the steps in sequence.

• Go to Deposits Section: Open the Deposits section and then choose the Recurring Deposit option.
• Choose RD Type: Choose the RD that matches your present requirement.
• Provide Deposit Details: Enter the monthly amount, select a suitable tenure, and connect the ICICI Bank savings account correctly.
• Review Interest and Details: Select the rate of interest to charge to senior citizens and check all details.
• Review Interest and Details: Choose the applicable interest rate for senior citizens and verify all the details.
• Confirm and Activate: Submit the request to activate your RD instantly.

Offline Method

An ICICI Bank Senior Citizen RD may also be opened at a branch:

• Visit the Bank Office: Visit the closest branch of ICICI Bank.
• Request RD Application Form: Ask the Recurring Deposit form to the bank representative.
• Enter Banking Requirements: Fill the form with deposit, tenure and account information.
• KYC and Age Proof: Provide valid ID and age proof to avail senior citizen benefits.
• Select Instalment Instructions: Select your monthly deposit and mode of payment.
• Submit and Open RD: Once you have filled out the form, the bank will process your request for opening an RD.

ICICI Bank Senior Citizens RD Eligibility Criteria

ICICI Bank Senior Citizen RD opening includes clear minimum eligibility conditions to support simple account opening process.

• Age Requirement: The applicant should be 60 years old or older to receive the benefits of senior citizen RDs.
• Savings Account Requirement: To open and maintain the recurrent deposit, an active account of ICICI Bank savings account is needed.
• Resident Status: The RD is primarily available to resident individuals. Eligibility for non-residents may vary based on bank guidelines.
• KYC (Know Your Customer) compliance: Applicants must complete KYC formalities by submitting valid identity and residence documents in accordance with the bank's requirements.
• Documents Requirement: You need to show proof of your identity and address. Some examples are a passport, an Aadhar Card or Voter ID, or utility bills.

Key Takeaways

ICICI Bank Senior Citizen RD offers stable returns with a preferential interest rate of up to 0.50%. The rates generally range from 5.00% to 7.10% per annum. You can start with ₹500 per month. The deposit amount can be increased in multiples of ₹100. This makes it a simple and flexible savings option for senior citizens.