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Recurring Deposit Introduction (23/10/2013 5:48:45 PM) Recurring Deposit is an ideal way to invest small amounts of money every

mon th and end up with a large kitty on maturity. Eligibility (23/10/2013 5:48:45 PM) Resident Indian, HUF, TASC Customers Opening RD in cash (23/10/2013 5:48:45 PM) When customer visits the branch for opening an Recurring Deposit (RD) accoun t in Cash, below mentioned are the steps to be followed in I-core: KWIKTD option to be used in I-core for opening Recurring Deposit (RD) account at branch. Funds to be parked in sl.deposits & Tran number to be noted on the voucher (FD/R D slip). All the relevant details to be entered except "Funding A/c for TD" field. The transaction to be confirmed by clicking the "Confirm" tab by the Maker. The Maker to note the "Tran number" & the"RD account number" created on the FD/R D slip. Post RD account creation, RD account to be funded by debiting sl.deposits manual ly. A composite voucher to be prepared by the Maker for funds transfer to the ne w RD account. RD details to be verified by Checker and SI number generated to be noted in the voucher. Subsequent cash payment of "Monthly installment ount directly. RD Creation (23/10/2013 5:48:45 PM) RD Creation involves the following steps: Funding - Customer account debit Funding - Cash RD Verification by Checkers Steps involved in RD Creation Duration of Deposit (23/10/2013 5:48:45 PM) Minimum period of 6 months and thereafter in multiples of 3 months to a max imum of 10 years. Amount of Deposit (23/10/2013 5:48:45 PM) Minimum Rs. 500/- per month and thereafter in multiples of Rs.100/Documents (23/10/2013 5:48:45 PM) For Existing Customer: Fixed Deposit/ Recurring Deposit Application-cum-Deposit Slip (FD Slip) Initial deposit by cash/ cheque to be credited to customer s RD acc

For New Customer: As per current KYC guidelines (for account opening/ Cust id opening) Latest Photograph Identity Proof Address Proof PAN or Form 60/61

Fixed Deposit/ Recurring Deposit Application-cum-Deposit Slip (FD Slip) Initial deposit by cash/ cheque

For detailed information on KYC documents refer the path : ICICI LInQ > Retail B ranch Banking > Services Related Information > Basic Desk > Account Opening Desk Interest & TDS (23/10/2013 5:48:45 PM) Rate of Interest Prevailing Bank Rates for Fixed Deposits. Special rates for Senior Citizens and Staff will also apply. For additional interest rate benefit on Term Deposit of Staff and Senior Citizen Staff: Category Rate benefit Interest Table Code Staff Normal Rate+1% TYSTF (use INTTM option) Retires staff who is also a senior citizen (above 60 yrs) Senior Citizen Rate+1% TYSNS (use INTTM option) Interest Payment At Maturity Tax No TDS Scheme Codes to be used: RDDSR : For Domestic Senior Citizen Customers RDGEN : For Other Domestic Customers

Interest for the RD is computed on completion of the quarter. Quarter is compute d based on the RD Creation date. Hence for a RD created on 29th July, 1st quarte r shall be completed on 28th Oct, 2nd quarter on 28th Jan and so on. Standing in struction has no bearing on the interest calculation.

ICICI Bank gives its Customer extension up-to end of the month to pay the instal

lment. Thus RD installment for the month can be paid on or before the last worki ng day of the particular month. For example if the RD has been opened in July th e next installments has to be paid by 31st August. Installment may be entered in the form of cash/cheque or standing instruction.

No penalty shall be charged for delayed installment up-to the end of the month. In case the installment is not paid in the month, customer shall be liable to pa y monthly interest at the rate of Rs.12 per Rs.1000 or part thereof or such othe r rate as may be specified by ICICI Bank for the period of delay. Fraction of a month will be treated as full month for the purpose of calculating such interest . The total interest so chargeable to the Depositor/s shall be recovered from th e total amount of interest payable by ICICI Bank at the time of maturity.

Interest Calculation:

For Recurring Deposits, interest is compounded quarterly on completion o f exact quarters. In case of delay in payment of any Installment, the Depositor/s shall be liable to pay monthly interest at the rate of Rs.12 per Rs.1,000 or part thereo f or such other rate as may be specified by ICICI Bank for the period of delay. Fraction of a month will be treated as full month for the purpose of calculating such interest. The total interest so chargeable to the Depositor/s shall be rec overed from the total amount of interest payable by ICICI Bank at the time of ma turity. In case of premature withdrawal of the Recurring Deposit, interest will be calculated at the rate applicable for the period that the Recurring Deposit h as been held by the Bank less the applicable penal rate as per ICICI Bank policy . Further interest amounts payable by Depositor/s to ICICI Bank for any delay in the payment of installment shall be recovered from the interest payable to Depo sitor/s by ICICI Bank. Maturity (23/10/2013 5:48:45 PM) The maturity date of a Recurring Deposit (RD) is either the original maturit y date or one month from receipt of the last installment date whichever is later . Receipt of monthly installment may be delayed due to: Standing Instruction (SI) is not set correctly SI could not be executed on account of Insufficient balance in customer's accoun t. Standing Instruction (SI) is executed on next working day due to Bank holiday or Sunday. Non receipt of installment due to any other reason Hence delayed receipt of the last installment will result in extending the RD ma turity date automatically. Example:

RD of Rs 5,000 is opened on September 10, 2011 for one year with maturity date o f September 10, 2012. Monthly installment is being paid on 10th of every month f rom customer's saving account. In case the last installment, due on August 10,20 12, is not paid due to Bank Holiday / Sunday, and the SI is executed on next day i.e. August 11,2012 then the maturity date of RD will automatically change to S eptember 11, 2012 instead of September 10, 2012. Premature Withdrawal (23/10/2013 5:48:45 PM) On pre-mature withdrawal, interest will be calculated at the rate applicable for the period of the Deposit less penalty and the Deposit amount accumulated i n the account up to the date of termination. RD Regularisation (23/10/2013 5:48:45 PM) RD Regularisation for the Missed Monthly Installments involves: In the same month of monthly RD installment In the next month of RD installment Steps involved in regularisation of RD RD Closure (23/10/2013 5:48:45 PM) RD Closure involves the following steps: Closure on Maturity (Auto Closure Option) Closure on Maturity (Manual Closure at Branch) Premature closure Closure of Overdue RD: Partial closure SI Deletion Steps involved in RD Closure RD statement & interest certificate printing (23/10/2013 5:48:45 PM) Step involved in RD statement Printing and Interest certificate issuance Process of closing an irregular or inconsistent Recurring Deposit (22/11/2013 4:49:30 PM) Recurring Deposits can become irregular or inconsistent due to following rea sons: Additional installment paid in the RD. Incorrect debit / credit entry passed in the FD/RD Branches will not be able to close the RD using CAAC option and system will thro w an error. In such a scenario, the branch banking team will have to raise an SR under 'INTE RNAL PROCESS MANAGEMENT_CTD_Request for Term Deposit Closure Request', for closu re of FD/RD.

Points to note before raising an SR: Constitution: Only retail individual cases shall be processed through this optio n. Error Message: Error message to be mentioned in the SR. Penalty Charges: In case of recurring deposits branches shall have to check in f

inacle using ACM option (FINACLE CHECK IN FINACLE >>ACM >>Inquire - A/c No>>F4, Option code-S>> F4, F6, F6) whether penalty charges have been levied in the RD a ccount or not. In case penal charges have been levied branch shall recover the s ame from the customer RD balance before payment to the customer and park the sam e in XXXXP0000RD. Customer to be informed about the penal charges. In case of waiver of penal charges, branch needs to take approval as per DFP K17 before raising the SR and approval details to be mentioned in the SR For Eg. for RD account no 0040XXXXXXXXX then penalty charges amount need to be p arked in 0040IP0000RD Penalty charges on delayed payment of installment of reccuring deposit (26/11 /2013 4:32:27 PM) RD installment for any calendar month must be paid on or before the last wor king day of that particular calendar month. In case of delay or non payment of i nstallment by the last working day depositor shall be liable to pay monthly pena l interest at the rate of Rs 12 per for every Rs 1,000. For example installment for the month of February must be paid on or before the last working day of the month. ie 28th Feb and in case 28th is a holiday then on e working day prior. Please note that in case of standing instruction (SI) falling on a holiday, they are executed on the next working day.

Thus to avoid penalty due to delayed installment branches should ensure: Request customers to avoid setting standing instructions dates later than 27th o f a month. Inform customers to maintain adequate balance on SI dates. As per process system shall try executing the SI for 5 working days incase the f unds are not available in the Customer s bank account. In such cases, ask the Cust omer to fund the bank account so that SI can be executed.