ICICI Bank iWish Flexible Recurring Deposit (RD)
iWish is a unique deposit which allows you to create goals to save for specific wishes like for your higher education, vacations, wedding, buying a gadget or anything. These goals are achieved by flexible Recurring Deposits with the added benefit of contributing any amount, at any point of time.
ICICI Bank offers iWish Flexible Recurring Deposit (RD) to its customers which is a unique offer in which they can save and earn good interest rates.
You can not have more than 25 active goals. So if you have created 25 goals and all these goals are not yet closed, then you can not create any further goal. As soon as any goal is closed, you can create new goal against that goal.
Purpose of ICICI Bank iWish Flexible Recurring Deposit (RD)
It is specially meant for making your wishes come true.
Features and Benefits of ICICI Bank iWish Flexible Recurring Deposit (RD)
- Attractive Interest Rates
- Facility of achieving your goals through flexible RD
- You can choose to put any amount, anytime
- Set up automatic savings
- Start saving and investing every month or whenever you have extra funds
- You cab earn interest rates like Recurring Deposits (RD) or Fixed Deposits (FD)
- Facility to track Goal Progress
- No penalty for missed payments
- You can not have more than 25 active goals
- Nomination Facility is available
Eligibility Criteria of ICICI Bank iWish Flexible Recurring Deposit (RD)
The account can be opened by an resident individual/ HUF who have ICICI Bank Retail Net Banking facility and at least one resident savings account linked to his / her ICICI Bank Retail Net Banking account. This Facilty is not available for Kid-e-bank & NRI A/c.
iWish is available only to existing Savings Account holders of ICICI Bank. iWish can only be operated through your Internet Banking account.
Documents Required for ICICI Bank iWish Flexible Recurring Deposit (RD)
Documents required for ICICI Bank iWish Flexible Recurring Deposit (RD): For opening an account under ICICI Bank iWish Flexible Recurring Deposit (RD), the applicant is required to submit following documents:
- Two Passport Size Coloured Recent Photographs
- Copy of PAN Card/ Form 60 (with reasons of not having PAN Card)
- KYC (Know Your Customer) Documents : Proof of Identity & Proof of Address
- Proof of Date of Birth (DOB) in case of Minor & Senior Citizen
Deposit Amount under ICICI Bank iWish Flexible Recurring Deposit (RD)
Any anount
Tenure of ICICI Bank iWish Flexible Recurring Deposit (RD)
6 months to 10 years
Interest Rate on ICICI Bank iWish Flexible Recurring Deposit (RD)
Interest rate of ICICI Bank iWish Flexible Recurring Deposit (RD) will be 6.00% to 7.00%
Charges on Premature Withdrawal of ICICI Bank iWish Flexible Recurring Deposit (RD)
If the FD/ RD/ iWish Account is prematurely closed, then the interest on it will be earned for the period it is held with the bank minus the premature closure charges and is 0.5% if original tenure is less than 1 year and 1% for more than 1 year.