12/30/2015

ICICIBankAnswers|iWishFlexibleRD

Personal

Privilege

Wealth

Private

Products

Tapheretoentersearchterm

NRI

Corporate

ApplyOnline

Business

Payments

Aboutus

Connect

FindATMBranch

Personal ICICIBankAnswers Detail

SearchICICIBankAnswers

FIND

ExpandAll CloseAll

iWish-Flexible RD
iWish

What is ICICI Bank iWish?

iWishisauniquedepositwhichallowsyoutocreategoalstosaveforspecificwishesandsharethemwithfriendsand
familyonFacebook.ThesegoalsareflexibleRecurringDepositswiththeaddedbenefitofcontributinganyamount,at
anypointoftime.YouearnbetterinterestratesonyourRecurringDepositjustlikeaFixedDeposit(clickhere for rate
ofinterest)

Who is eligible to use iWish?

iWish is available only to existing SavingsAccount holders of ICICI Bank. iWish can only be operated through your
InternetBankingaccount.
However,pleasenotethatiWishisnotavailableforNonResidentIndians(NRIs).
IncaseyoudonothaveanICICIBankSavingsAccountyoucanapplyonlineatHERE
IncaseyoudonothaveyourInternetBankingUserIDandpassword,youcangettheminstantlyatthislink

Is there any charge for this product?

No,thereisnochargeforthisproduct.Thisproductandassociatedservicesarebeingofferedfreeofcharge.
However, a charge of Rs. 15 + service tax would be levied towards payment gateway charge on friends & family
contributingtoyourgoals.

What is the rate of interest?

YouearnbetterinterestratesonyourRecurringDepositjustlikeaFixedDeposit.Clickhereforinterestrates.

What if I could not deposit money into a goal in a certain month? Is

there any penalty?

No,therearenopenaltiesorchargesifyoucouldnotdepositmoneyintoagoaleverymonth.

How is iWish different from normal Recurring Deposit?

In normal Recurring Deposit, you are required to deposit money every month on a fixed day. However, in a flexible
Recurring Deposit like iWish, you can deposit money at your convenience and availability of funds. You can also
choose not to deposit any money at all for a month. Besides this, if you have more spare money to save, you can
depositfundsmultipletimesinamonthintoyouraccount.

NormalRecurringDeposit

http://www.icicibank.com/PersonalBanking/faq/detail.page?identifier=prodiwish20132812143031850

FlexibleRecurringDeposit(iWish)

1/7

12/30/2015

ICICIBankAnswers|iWishFlexibleRD
Youneedtodepositafixedamounteverymonthon
aparticulardate.

You can deposit any amount as per your

convenience and availability of funds. It is not
mandatorytodepositmoneyeachmonth.

Youcandepositmoneyonlyonceinamonth.

Youcandepositmoneymultipletimesinamonth.

There are charges for not depositing funds in a

month.

Therearenochargesiffundsarenotdepositedina
month.

YouearnahigherrateofinterestthanyourSavings
Account (typically the applicable Fixed Deposit
interestratesofthesametenure).

YouearnahigherrateofinterestthanyourSavings
Account (typically the applicable Fixed Deposit
interest rates of the same tenure) with the added
flexibilityofbeingabletodepositanyamountatany
time.

What if I close my goal mid way? Is there any penalty?

You will not earn the interest rate as mentioned at the time of your goal creation. You will earn interest at the rate
correspondingtotheperiodthegoalremainedwiththebank.Besidethis,penaltyofprematureclosureofaccountwill
beleviedattheapplicablerate.Clickhereforpenalinterestrates.

How do I get started?

Togetstarted,pleaselogintoyourInternetBankingaccountwww.icicibank.com.ClickoniWishonthetoprighthand
corner.

Do I need to have a Savings Account with ICICI Bank to use iWish?

Yes, iWish is available only to ICICI Bank Savings Account holders. In case you do not have an account you can
applyonlineathttp://www.icicibank.com/PersonalBanking/accountonline/savingsaccount/savingsaccount.html

Do I need my Internet Banking User ID and password to create a goal?

Yes.iWishcanonlybeoperatedthroughyourInternetBankingaccount.IncaseyoudonothaveyourInternetBanking
User ID and password, you can get them instantly at http://www.icicibank.com/onlineservices/generatepassword
personal.html.

How do I create a goal?

PleaselogintoyourInternetBankingaccountwww.icicibank.com.ClickoniWishonthetoprighthandcorner.After
theiWishpageopens,clickonStartNowfromtheGoalspage.Atthetimeofcreatingthegoalyouwillberequiredto
enter information relating to the goal (Name, Category,Amount andTenure) and the Initial DepositAmount.You may
choosetosetupastandinginstructionandearn10rewardpointsforeverystandinginstructionexecutedsuccessfully
towards your iWish goal. You can also choose to share your goal on Facebook.After clicking on "Create Goal" your
goalwillbecreatedinstantaneously.Youcantransferfundstoyourgoalassoonasyourgoaliscreated.However,the
goalbalancewillbedisplayedwithin4hoursfromcreationofthegoal.Pleasenotethegoalwillnotbecreatedincase
1)Thereareinsufficientfundsinyouraccount,2)Yourfundingaccountisinafrozenstate,3)Yourfundingaccountis
dormant or inactive or 4) If you are an NRI or a corporate customer. If case of technical noterrors, your goal will get
activatedwithin2workingdays.

What is the minimum and maximum amount of a goal?

Theminimumamountis5,000andthemaximumamountis10,00,000.

What is the minimum and maximum tenure of a goal?

Theminimumtenureis6monthsandthemaximumtenureis10years.

What is a funding source?

You can choose to fund your goal through one of the SavingsAccounts linked to your ICICI Bank Internet Banking
UserID.TheselinkedSavingsAccountsareknownasfundingsourcesiniWish.

How can I deposit money into my goal account?

Youcandepositmoneyintoyourgoalaccountthroughfollowingmeans:

YoucantransfermoneytoyourgoalaccountfromICICIBankiWishpage.
YoucansetstandinginstructionsontheICICIBankiWishpage.

What is the minimum and maximum amount of initial deposit?

http://www.icicibank.com/PersonalBanking/faq/detail.page?identifier=prodiwish20132812143031850

2/7

12/30/2015

ICICIBankAnswers|iWishFlexibleRD
Theminimumdepositamountis500andthemaximumdepositamountis49,999.

Is there any restriction on the type of goal that I can create?

Youcannotcreategoalswhichareprohibitiveorillegal.Youcancreateanylegitimategoal.Forthesakeofsimplicity,
goal categories and subcategories are defined under which you can create your goal. We have tried to keep these
categoriesasbroadaspossibletocoverallareasforindividualgoals.

Is there any limit on the number of goals that I can create?

Yes, you cannot create more than 10 active goals. So if you have created 10 goals and all these goals are not yet
closed,thenyoucannotcreateanyfurthergoal.Assoonasanygoalisclosed,youcancreateanewgoalagainstthat
goal.

What if I am not able to deposit money towards my goal in a certain

month? Is there any penalty?

No,therearenopenaltiesorchargesifmoneycouldnotbedepositedtowardsyourgoaleverymonth.

How can I share my goal on Facebook?

Atthetimeofcreatingyourgoalyoucanchoosetoshareyourgoal.Youcanaddadescription,choosewhetheryou
want to show percentage completion or goal balance and whether you want to auto post when goal milestones are
reached.AlloftheseareconfigurablethroughtheSharingtabontheICICIBankiWishpage.

How can my friends and family contribute to my goal?

To enable friends and family to contribute to your goals, you will need to make your goal public while sharing on
Facebook. Friends and relatives can click on your goal on Facebook from where they will be directed to your ICICI
BankiWishprofilepage.Fromhere,theycanuseanybank'sVISADebitCardtocontributetowardsyourgoal.

What makes iWish flexible?

ThegoalsunderiWishareflexibleRecurringDepositswiththeaddedbenefitofcontributinganyamount,atanypointof
time.Youcanchoosetodepositmoneyatyourconvenienceandyoucanalsochoosenottodepositanymoneyina
month.There are no penalties or charges if you could not deposit money into a goal every month. If you have more
sparemoneytosave,youcandepositfundsmultipletimesinamonthintoyouraccount.

How is iWish different from normal Recurring Deposit account?

In normal Recurring Deposit account, you are required to deposit money every month on a fixed day. However, in a
flexibleRecurringDepositlikeiWish,youcandepositmoneyatyourconvenienceandavailabilityoffunds.

NormalRecurringDeposit

FlexibleRecurringDeposit(iWish)

Youneedtodepositafixedamounteverymonthon
aparticulardate.

Youcandepositanyamountasperyour
convenienceandavailabilityoffunds.Itisnot
mandatorytodepositmoneyeachmonth.

Youcandepositmoneyonlyonceinamonth.

Youcandepositmoneymultipletimesinamonth.

Chargesforlatepayment

HomeLoans:2%permonthHomeOD:1.5%of
theoutstandingamountsubjecttominimumofRs.
500/&MaximumofRs.5000/

Therearechargesfornotdepositingfundsina
month.

Therearenochargesiffundsarenotdepositedina
month.

YouearnahigherrateofinterestthanyourSavings
Account(typicallytheapplicableFixedDeposit
interestratesofthesametenure).

YouearnahigherrateofinterestthanyourSavings
Account(typicallytheapplicableFixedDeposit
interestratesofthesametenure)withtheadded
flexibilityofbeingabletodepositanyamountatany
time.

Can I close my goal mid way? Is there any penalty?

iWishallowstheflexibilitytocloseyourgoalmidway.However,youwillnotearntheinterestrateasmentionedatthe
time of your goal creation. You will earn interest at the rate corresponding to the period the goal remained with the
bank. Beside this, penalty on premature closure of account will be levied at the applicable rate. Click here for penal
interestrates.

What is the rate of interest?

http://www.icicibank.com/PersonalBanking/faq/detail.page?identifier=prodiwish20132812143031850

3/7

12/30/2015

ICICIBankAnswers|iWishFlexibleRD
YouearnbetterinterestratesonyourRecurringDepositjustlikeaFixedDeposit.Clickhereforinterestrates.

What if I am not able to deposit money towards my goal in a certain

month? Will I continue to enjoy better returns?

Therearenopenaltiesorchargesifmoneycouldnotbedepositedtowardsyourgoaleverymonth.Youwillcontinueto
enjoytherateofinterestapplicableonyourrecurringdepositonthefundsavailableinyouraccount.

What if a goal is not achieved by the end of a goal period? Will I

continue to enjoy better returns?

HIDE

ICICI Bank does not charge any penalty if a goal is not reached within the goal period. You will enjoy the rate of
interestapplicableonyourrecurringdepositonthefundsavailableinyouraccount.

What if I achieve the goal early?

You can continue to keep the amount into your goal account till the end of the period for which goal was originally
targetedtobeachieved.Youwillcontinuetogetahigherrateofinterestfortherestoftheperiod.

Can I close the goal mid way even if it is not achieved/ achieved early?

Yes. You can close the goal mid way even if it is not achieved. In such a case, you will not earn the interest rate
mentionedatthetimeofgoalcreation.Youwillearninterestattheratecorrespondingtotheperiodthegoalremained
withtheBank.Besidethis,penaltyofprematureclosureofaccountwillbeleviedontheapplicablerate.Clickhere for
penalinterestrates.

Can I change my goal later?

You cannot change amount or the period of your goal. However, you can change the name, category and sharing
settings.

How can I manage my goals?

YoucanseethelistofallyourgoalsbyclickingonGoalsonICICIBankiWishpage.TheGoalspagedisplaysalist
ofallyourOpenandClosedgoalsalongwiththeprogress.ByclickingonanOpengoalyoucanrenamethegoal,add
funds to the goal, change the sharing settings and close the goal. You will also get SMS alerts when various
milestonesrelatingtoagoalareachievedsuchasgoalcreation,fundingofgoal,goalclosureandgoaltargetprogress.

Can I modify my standing instructions given for transfer of money into

my goal account?

YoucanmodifyyourstandinginstructionsbyclickingontheManagebuttonbelowthegoal.Ifrequired,youcanalso
create additional standing instructions. An option to cancel the standing instruction is also provided. If you want to
cancelaparticulartransactionofthestandinginstruction,youcandosoonthetriggerdate.

What is an Open/ a Closed goal?

Opengoalsareactivegoalswheremoneycanbedepositedintothegoal.Theseareshownwithanopenlockiconin
iWish. Closed goals are where money cannot be deposited into the goal.These are shown with a closed lock icon in
iWish.

How can I close my goal?

YouhavetoplacearequestforclosureofyourgoalaccountonlinefromICICIBankiWishpage.

Will my goal be automatically closed if it is achieved or the period of my

goal has come to an end?

No.Yourgoalisnotautoclosedineitherofthecasesi.e.eitherifthegoalisachievedorifthegoalperiodhasended.
Inboththecases,youneedtoplaceanonlinerequestforgoalclosure.

What if I do not make a request for closure of the goal at the end of goal
period?

YourgoaldepositwillcontinuetobeinyourICICIBankaccountanditwillbetreatedasoverdueaccount.Youwillearn
SavingsAccountrateinterestfortheperiodstartingfromlapseofthegoalperiod(i.e.maturitydate)tillthedateagoal
closurerequestismade.

http://www.icicibank.com/PersonalBanking/faq/detail.page?identifier=prodiwish20132812143031850

4/7

12/30/2015

ICICIBankAnswers|iWishFlexibleRD

What is the rate at which interest shall be calculated for the overdue
Recurring Deposits (RDs) and how shall the interest be credited?

For the overdue period the interest is calculated as per the prevailing Saving Account Interest Rate. However, the
interestshallbecredited/depositedintheRecurringDepositAccount(Account)aspertheapplicablerateofinterest
at the end of each calendar quarter.At the time of closure of theAccount the rate of interest for the overdue period
shall be revised as per the prevailing SavingAccount Interest Rate and any excess interest credited for the overdue
periodshallbeadjustedatthetimeofclosureoftheAccount.

What if a goal is not achieved by the end of a goal period?

Youcanstillclosethegoal.ICICIBankdoesnotchargeanypenaltyifagoalisnotreachedwithinthegoalperiod.

Can I close the goal mid way even if it is not achieved?

Yes. You can close the goal mid way even if it is not achieved. In such a case, you will not earn the interest rate
mentionedatthetimeofgoalcreation.Youwillearninterestattheratecorrespondingtotheperiodthegoalremained
withtheBank.Besidethis,penaltyofprematureclosureofaccountwillbeleviedontheapplicablerate.Clickhere for
penalinterestrates.

What if I achieve the goal early?

You can continue to keep the amount into your goal account till the end of the period for which goal was originally
targetedtobeachieved.Youwillcontinuetogetahigherrateofinterestfortherestoftheperiod.

Can I partially withdraw money from my goal mid way? Will it impact
my interest earning?

No.You cannot partially withdraw money from your goal mid way.You can withdraw money mid way by closing your
goal.Howeverinthiscase,youwillearninterestattheratecorrespondingtotheperiodthegoalremainedwithICICI
Bank.Besidesthis,anapplicablepenaltywillbechargedforprematureclosureofgoal.

Can I transfer money from one goal to another goal account?

No.Youcannottransfermoneyfromonegoalaccounttoanothergoalaccount.

Can I transfer money to my goal account even if goal amount is

achieved?

No.Onceyourgoalamountisachieved,youwillnotbeallowedtodepositmoneyintoyourgoalaccount.

Is there a minimum tenure to achieve the goal? Is the period of a goal

linked to goal categories?

No. There is no such linkage between a goal category and the number of years during which the goal should be
achieved.Youcancreateagoalfortheperiodasperyourneed.

How can I share my goal on Facebook?

YouwillneedtoenablesharingfromtheSettingstabontheICICIBankiWishpageandconnectyouriWishaccount
toyourFacebookaccount.Onceyouconnectthefacebook,theappiWishfromICICIBankwillbeaddedtoyourapp
list.You can then share your goal at the time of creation or later from the Settings tab.You can add a description,
choosewhetheryouwanttoshowpercentagecompletionorgoalbalanceandwhetheryouwanttoautopostwhengoal
milestonesarereached.

IfyouareunabletoviewyourgoalsonFacebookdespitesharingit,pleasechecktheAutopostsettingsonFacebook.
In case the issue persists, please try disconnecting your Facebook account and reconnecting under iWish Sharing
settings.

How secure is sharing goals on Facebook? Can it compromise my

Savings Account?

Sharingyougoalsiscompletelysecure.SharinggoalsonFacebookisjustapostonyourwall.Facebookusersdonot
haveanyaccesstoyourICICIBankiWishgoals.AnycontributiontowardsgoalsismadefromyourICICIBankiWish
publicprofilepageandnotfromFacebook.

What exactly will be shared when I choose to share my goals on

Facebook?
http://www.icicibank.com/PersonalBanking/faq/detail.page?identifier=prodiwish20132812143031850

5/7

12/30/2015

ICICIBankAnswers|iWishFlexibleRD
Ifyouchoosetoshareagoal,youcanaddadescription,choosewhetheryouwanttoshowpercentagecompletionand
whether you want to auto post when goal milestones are reached.All of these are configurable through the Sharing
tabontheICICIBankiWishpage.

With whom will the goals be shared on Facebook?

AtthetimeofconnectingyourICICIBankiWishaccountwithyourFacebookaccount,youcanchoosetheindividuals
withwhomthepostswillbeshared.YoucanalsomodifythesettingslateronbygoingtoFacebook>>AppCentre>>
Yourapps>>iWishfromICICIBankandclickingonSettings.

Can I selectively share my goals?

Yes.Youcanselectivelyshareyourgoal.Youcanchoosetosharethegoalatthetimeofcreationorlaterthroughthe
Sharing tab on the ICICI Bank iWish page. You can also modify the people with whom the goals will be shared by
goingtoFacebook>>AppCentre>>Yourapps>>iWishfromICICIBankandclickingonSettings

Is it necessary to share goals for friends and relatives to contribute?

Yes.Itisnecessarytoshareyourgoalsifyouwantyourfriendsorrelativestocontributetoyourgoal.Ifyouchooseto
make your goal public, friends and relatives can visit your ICICI Bank iWish profile page and contribute towards your
goals.

Is it mandatory to have a Facebook account for creating a goal?

No.ItisnotmandatorytohaveaFacebookaccountforcreatingagoal.Ifyoudon'thaveaFacebookaccount,youwill
notbeabletousesharingfeatures.

Is it mandatory to share goals that I have created on Facebook?

No.ItisnotmandatorytosharegoalsthroughFacebook.Itisanadditionalfeatureandoptional.

Can I share my goals on other social media site like twitter, google+
etc.?

No.CurrentlyyoucanshareyourgoalsonlyonFacebook.

I opted to share my goal earlier. Can I later on change the setting to

unshare?

Yes.Youcanchoosetounsharelateron,throughtheSharingtabontheICICIBankiWishpage.

How can my friends or family deposit money into my goal?

To enable friends and family to contribute to your goals, you will need to make your goals public while sharing on
Facebook.FriendsandrelativescanthenclickonyourgoalonFacebookfromwheretheywillbedirectedtoyourICICI
BankiWishprofilepage.Fromhere,theycanuseanybank'sVISADebitCardtocontributetoyourgoal.Youcanview
yourprofilepagefromMySharingPageonthelefthandsideoftheiWishpage.

Do my friends or family need to have an account with ICICI Bank for

contributing to my goal ?

No. It is not necessary for your friends or relatives to have account with ICICI Bank. However, they need to have a
valid VISA Debit Card issued by any bank in India. The transfer to your account will be effected online through the
DebitCardpaymentgateway.PleasenoteaflatfeeofRs.15+servicetaxisleviedforeachtransactiondonethrough
thischannel.

What are pending transfers?

Incaseyouhavereceivedacontributionfromfriends/family,theywillbeshownaspendingtransfersuntiltheyhave
been credited to your goal. Pending transfer also include initial goal deposit amount till the time your goal is created
andactivated.Furtherstandinginstructionsarealsodisplayedinpendingtransactions.

What happens if the transaction fails while contributing to my goal?

Likeanyothertransaction,fundsifanywillbecreditedtotheiraccountwithin47workingdays.

Explore

RatesandCharges

SharethisPage

http://www.icicibank.com/PersonalBanking/faq/detail.page?identifier=prodiwish20132812143031850

OtherICICIBankWebsite

6/7

12/30/2015

ICICIBankAnswers|iWishFlexibleRD

InvestorRelations
ICICIBankAnswers
CreditCard
SafeBanking

InterestRates
GoldRateToday
ServiceChargesandFees
ToolsandCalculators

Initiatives

Others

SocialInitiatives
(ICICIFoundation)
GoGreen

CustomerCare
FormCenter
MediaGallery
NoticeBoard
Feedback
Sitemap
AboutUs
RegulatoryDisclosureSection

Awards
2015
2014
2013

OtherICICIBankWebsite

TweetThisPage
Followus

ICICIBankCountryWebsites

VisitUs

SelectICICIWebsite

SelectCountry

ICICIFacebookPage
ICICITwitterPage
ICICILinkedinPage

Terms&Conditions | DoNotCallRegistry | Disclaimer | MultilingualDisclaimer | CodeofCommitment | GroupCodeofBusinessConductandEthics | UseofUnparliamentaryLanguageby

Customers | Privacy | USAPatriotActCertification | FairPracticeCodeforLenders

http://www.icicibank.com/PersonalBanking/faq/detail.page?identifier=prodiwish20132812143031850

7/7