Whoever said wishes don’t come true hasn’t explored our offers!
Whoever said wishes don’t come true hasn’t explored our offers!
  • Compare iWish Vs RD Vs FD

    A fixed deposit, where one keeps a particular sum of money aside each month is the simplest and most steady way of bolstering your financial position. A Fixed Deposit or FD provides you with a guaranteed amount as return on the amount you have invested in it. A Recurring Deposit (RD) is a useful investment tool for those who cannot make the one-time payment that an FD requires, but deposits a fixed amount every month. The returns form an RD are also significant, and investors are guaranteed a particular percentage as returns.

    iWish is a Recurring Deposit product introduced by ICICI Bank. It offers flexibility, allowing you to save and set money aside for the RD when you have the money to do so, and it also offers a more competitive interest rate.

    RD Vs FD Vs iWish- Product Structure

    Recurring Deposit- A Recurring Deposit (RD) is a financial instrument where a fixed sum of money is deposited every month for a pre-decided duration. They will receive interest on the amount they deposit at the same rate as for Fixed Deposits.

    Recurring Deposits offer individuals flexibility in terms of investments since a fixed sum is to be invested each month. The individual can decide on the sum to be deposited, depending on his financial stability and disposable income.

    Recurring Deposits offer another advantage in that the interest rate on the sum invested in the same as a Fixed Deposit interest rate. Individuals who opt for an RD stand to earn good returns on their investments even though they are made over a period of time as opposed to a lump sum investment.

    In case the individual is in urgent need of funds, he can choose to withdraw or liquidate the holdings in the RD, depending on the terms of the Deposit. However this is to be done only in extenuating circumstances, when the individual has exhausted all other credit avenues.

    Fixed Deposit- A Fixed Deposit (FD) is a an instrument offered by banks that provides a high rate of interest. Similar to a Savings Account, a Fixed Deposit is another form of an account wherein investors deposit a fixed sum of money for a particular time period. They receive interest at the end of the tenure of the deposit.

    The difference between an FD and a Savings Account is an FD does not allow for easy liquidity. In other words, an individual cannot withdraw money from the Fixed Deposit if he has need of cash. It is for this reason that FD’s offer a higher rate of interest as compared to Savings Accounts as well as Recurring Deposits.

    A sum of money is generally deposited into the FD for a fixed period of time- the general times periods are 7, 15 or 45 days. FD’s can also run into years, with the longest tenure being 10 years and the shortest being 1 year. An FD can be renewed if the individual so desires it, and the term can be extended based on the terms of the FD.

    The interest earned from the FD is payable either monthly, annually or at the time of maturity of the FD, depending on the individual, allowing for flexibility when it comes to interest payments.

    iWish- iWish is a financial product offered by ICIC Bank that combines the benefits of a Recurring as well as a Fixed Deposit. It is a flexible Recurring Deposit scheme that enables investors to invest money in the fund depending on their financial timelines, whenever they have the money to spare. In this regard, iWish is more flexible than a Fixed or even a regular Recurring Deposit.

    As the name suggests, iWish was set up as a Recurring Deposit scheme with the aim of helping individuals achieve a financial goal or goals they have set themselves. By steadily making deposits towards it, they would not only be able to achieve it but also get the added boost of attractive interest rates.

    In spite of providing such flexibility when it comes to investing money in the scheme, iWish offers the same rates of interest as a Fixed Deposit does, further adding to its appeal. Investors can thus benefit from the high rates of interest offered by the scheme and they can choose when to deposit money in the account.

    In another move seen as a benefit, iWish allows you to share the goals you are saving for with family and friends. It also permits these individuals to help contribute to your goals by investing an amount towards their realization.

    Compare iWish Vs RD Vs FD

    In the below table, a comparison of the three products- Recurring Deposit, iWish and Fixed Deposit are given so individuals can choose the one best suited to their individual needs.

      iWish Flexible Deposit Fixed Deposit Recurring Deposit
    What is it? Flexible RD with FD interest rate One time deposit Fixed schedule of deposits
    Minimum amount Rs. 500 Rs. 10, 000 Rs. 500
    Subsequent deposit amount Any amount Not applicable Multiples of 100
    Subsequent deposit date At any time Not applicable Set date each month
    Deposits allowed per month Unlimited Not applicable One on set date
    Penalty in case of no deposit for a month No penalty Not applicable Yes
    Deposit duration 6 months to 10 years 7 days to 10 years 6 months to 10 years
    Rates of interest 7 - 7.50 % 4 - 7.50 % 7 - 7.50 %
    Can family/friends contribute Yes No No
    Multiple goal saving Yes No No

    As is seen above, the iWish deposit scheme offers a similar rate of interest along with added benefits like no limit on the number of deposits a month, no penalty charges for not depositing in a particular month etc.

    It also offers the same duration as a regular Recurring Deposit, as well as the option to allow friends and family to contribute towards the deposit goal.

    Recurring Deposit - Sitemap

    RD Reviews

  • Page 1 of 50 1 2 3 4 5
    • review Saving Account
      "Good"
      HSBC BANK
      0.5 3.0/5 "Satisfactory"
      My salary account was maintained with HSBC Bank for 7 years. Face to face banking experience is really good with HSBC Bank. They don't have option for IMPS transfer on online banking. Whenever I login the net banking, it ask for OTP due to security purpose which is unnecessary and not required.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2018
    • HDFC Bank Two Wheeler Loan
      "Need to reduce charges"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I had taken a Two wheeler loan with HDFC bank.The loan amount is 70,000 i had closed the loan long back.The EMI is paid through online.I would not recoothe service as they have too many charges on my account and they don't give proper response to the customers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2018
    • Standard Chartered Bank Personal Loan
      "Average"
      STANDARD CHARTERED BANK
      0.5 3.0/5 "Satisfactory"
      I had applied for a personal loan with Standard Chartered Bank through online. I had to followup a lot and they took long time to disburse my loan. The customer service was not up to the mark. The documents are collected by the executive at doorstep. The part payment and pre closure option is average. There is a penalty for pre closing. Part payment I cannot more than 25% in the first year.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2018
    • Liberty Videocon Two Wheeler Insurance
      "Good policy"
      LIBERTY VIDEOCON GENERAL INSURANCE
      0.5 4.0/5 "Great!"
      I have taken Two Wheeler Insurance with Liberty Videocon Insurance.I have it for last year.I pay a premium of 1500 in year.The payment is done through online.I get a good policy coverage amount of 50k.The customer service respond on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2018
    • review Other Loan
      "Good service"
      PAYTM PAYMENTS BANK LTD
      0.5 4.0/5 "Great!"
      I use Paytm for quite a few years,most of time i use paytm for ordering food online at restaurants,to book tickets and also for booking movie tickets,recharges and electricity bills.The website is easy to understand and navigate and never faced technical issues.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2018
    • HDFC Bank Credit Card
      "Good card to use"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken HDFC bank credit card they had offered a limit of 60,000.I have been holding this card for last three years now they have increased to 97,000.I need pay an annual fees to hold this card.Net banking is user friendly.I get best offers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2018
    • Bank Bazaar Credit Card
      "Good service"
      HSBC BANK
      0.5 4.0/5 "Great!"
      The website is very useful to choose right products with aright bank.The credit card is dispatched on time through bank bazaar.The executives give prompt response to the customers.I ma overall satisfied with the service of the team.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2018
    • HSBC Bank Credit Card
      "Good service"
      HSBC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a credit card with HSBC.The limit is 97,000.The card is applicable for an annual fees.I got many offers but i have v not availed those offers.They had processed the card within a week post submitting documents.Net banking is user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2018
    • Standard Chartered Bank Personal Loan
      "Excellent"
      STANDARD CHARTERED BANK
      0.5 5.0/5 "Blown Away!"
      I had applied my personal loan through online channel. I hold a salary account with Standard Chartered Bank. It was an excellent experience on my personal loan. The rate of interest was good and they offered around 13%. I am completely happy with the bank service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2018
    • ICICI Lombard Car Insurance
      "Good insurance"
      ICICI LOMBARD GENERAL INSURANCE
      0.5 4.0/5 "Great!"
      I hold a car insurance with ICICI Lombard for one year. This insurance was suggested by the dealer. The customer service was okay not very good. There was no claim experience till now. I paid for bumper to bumper service. The IDV value is 3.5L which was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2018
    • HDFC Bank Car Loan
      "Satisfactory"
      HDFC BANK
      0.5 4.0/5 "Great!"
      My car loan was taken with HDFC Bank before 3.5 years. The interest rate was normal. I have purchased Grand i10. I took 5L and the duration period is 5 years. I have to pay monthly premium as 10,772 rupees through ECS. The services are good on my car loan.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2018
    • HDFC Bank Credit Card
      "Credit limit has to be increased"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      HDFC has offered me a Platinum credit card. I am using this card for more than 5 years. I am not satisfied with the credit limit, I was expecting more than 3.5L. They don't charge annual fee. I have been using the card for online shopping, petrol and etc.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2018
    • SBI Saving Account
      "Good"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I have a joint account with State Bank of India for past 3 years. It was accessed by me and my wife. I tried calling the customer service and no need to waiter on the queue. The response was proper. I had to maintain a minimum balance of Rs.2500 for every month.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2018
    • HDFC Bank Saving Account
      "Good account"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I have a salary account with the HDFC Bank. I am using this account for more than 12 years. The customer service and response was average. I have taken a loan with them and the interest rate was average. It is a zero balance account. ATM services are good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2018
    • Bank Bazaar Personal Loan
      "Better"
      STANDARD CHARTERED BANK
      0.5 5.0/5 "Blown Away!"
      Everything was good with bankbazaar.com. The customer service and response was satisfactory. They process my application on time to the bank which was helpful to get a personal loan. The online portal is easy to access and good. Its recommendable to others.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2018
    • Standard Chartered Bank Personal Loan
      "Beter"
      STANDARD CHARTERED BANK
      0.5 5.0/5 "Blown Away!"
      I had a nice experience with Standard Chartered Bank. But I haven't received the loan papers yet. They offered normal interest rate and there is no processing fee. The documents are collected by the executive. They disbursed the loan on the promised date.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2018
    • Bank Bazaar Credit Card
      "Good service"
      INDUSIND BANK LTD
      0.5 4.0/5 "Great!"
      I have contacted bank bazaar for my credit card request.I have been using the website for last few months.They had immediately responded and they have suggested a good bank in the market.The options on the Website is very useful to operate, and its user friendly.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 20, 2018
    • IndusInd Bank Credit Card
      "Good card to use "
      INDUSIND BANK LTD
      0.5 4.0/5 "Great!"
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      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 20, 2018
    • SBI Car Loan
      "Best service"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I have taken a Car loan with State bank of India.The loan amount is seven lakhs,rate of interest is nominal as compared to others.They had deducted minimum amount of processing fees.I pay my EMI through an ECS payment.The loan process is simple with SBI.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 20, 2018
    • ICICI Bank Saving Account
      "Good service"
      ICICI BANK
      0.5 4.0/5 "Great!"
      I have opened a salaried account with ICICI bank.I have been banking with them for last seven years.I get good response from the customers.I use mobile App and i feel its a best bank to be with.I have enough ATM's located in my place.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 20, 2018
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