ICICI RD Calculator Online (Recurring Deposit)

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. A Recurring Deposit investment 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 RD interest rates add up is quite similar to fixed deposits, but in this case, it’s based on the monthly deposits you make.

The smallcase ICICI RD online calculator is known for its simplicity and user-friendly design. With this free tool, you can evaluate how much your investments might grow over time. 

Let’s understand how to use the ICICI RD Calculator:

1. Choose your preferred RD Scheme according to the tenure and RD interest rate ICICI. The list of the ICICI RD interest rates is given below.
2. Once you have the data, you can use the RD interest calculator ICICI for two scenarios:

Case 1 –  If You Know the RD Investment Amount

In this scenario, you need to provide 3 key inputs: 

• Your investment amount 
• Expected return
• Time period 

Once you enter these details, you can get an estimate of the potential returns that you will get after the completion of your investment tenure on the RD interest calculator ICICI. 

Case 2 – If You Know Your RD Goal Amount 

In this scenario, you will need to provide: 

• Goal amount 
• Expected return
• Time period 

Once you input these details, you can get an estimate of how much amount you need to invest every month to reach your goal through the ICICI RD online calculator.

The ICICI RD calculator formula uses a global standardisation 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:

Let’s take an example. Suppose an investor decides to make an ICICI recurring deposit (ICICI RD) of ₹1,000 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. 

After entering the above-mentioned values in the ICICI recurring deposit interest rates calculator, you will get the following results using the ICICI interest rates formula in minutes: 

Amount invested = ₹12,000

Expected return rate amount =  ₹12,362

Interest Earned = ₹362

To open an ICICI 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 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 RD Account Opening

• Resident Individuals
• Non-Resident Indians (NRIs) and Persons of Indian Origin PIOs
• Organisations
• Sole proprietorship firms
• HUFs
• Trusts and companies
• Partnership Firms
• Public and Private Limited companies

Recurring Deposit (RD) with ICICI offers distinct interest rates for senior citizens and general citizens. Therefore, to explore and compare the RD interest rates ICICI offers for different tenure options, you can use the ICICI recurring deposit calculator.

The following table illustrates various ICICI RD interest rates w.e.f 2nd August 2024, providing a clearer perspective.

The ICICI recurring deposit 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 RD ICICI calculator is a simple and user-friendly tool that anyone can use.
• 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.
• User-Friendly Design: It has a straightforward and easy-to-navigate interface. The ICICI SIP Calculator simplifies the process of estimating SIP returns. Just enter the necessary details, and you’ll have your results in no time.

The ICICI RD Calculator makes it easier for investors to plan their financial goals. By inputting key details like the monthly deposit amount, ICICI Recurring Deposit interest rates, and investment term, you can quickly gauge the maturity amount and interest earned. For those comparing savings options, understanding the difference between RD vs FD can further help you choose the right investment strategy for your needs.

The results provided by this calculator are for illustrative purposes only and are based on the inputs provided by the user, including the monthly or lump sum investment amount, expected rate of return, and the investment time period.

The calculator assumes a constant rate of return and does not account for market fluctuations. Therefore, the actual future value of the investment may differ from the estimated value.

smallcase makes no representations or warranties regarding the accuracy of the calculator’s results and is not responsible for any errors, omissions, or inaccuracies. The calculator does not consider taxes, fees, or other factors that may affect investment performance.

This calculator and the results generated are not intended as a solicitation to invest or as a recommendation for any particular investment product. Users are encouraged to consult with a qualified financial advisor before making any investment decisions.