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  • ICICI Bank iWish - Flexible RD Interest Rates - January 2018

     5.0 / 5.0   by 18 users
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    Interest Rates for ICICI iWish Flexible Recurring Deposit

    PeriodGeneralSenior Citizens
    6 months66.5
    7 months - 9 months6.256.75
    10 months - 11 months6.57
    12 months only6.757.25
    13 months - 24 months6.757.25
    25 months - 3 years6.57
    37 months - 5 years6.57
    5 years 1 day - 10 years6.57

    Recurring Deposit schemes have always been one amongst the best investment options for the Indians who expect good returns with no risk. In a recurring deposit scheme, the investor has to make deposits of fixed amount every month for a predefined period of time. The amount in the account will gather interest which will be paid back at the end of tenure. But, what if a customer wants to deposit a higher amount during a particular month or wants to withdraw the amount before the maturity? As an answer to such concerns comes ICICI iWish flexible RD.

    ICICI iWish Flexible Recurring Deposit offers customers the flexibility of depositing an amount whenever possible and setting flexible goal amounts. If the customer does not make deposit for a month, no penalty is imposed by the bank. Also, there is no cap on the number of times a customer can make deposits during month. What more, the interest rate for iWish flexible RD varies from 6.00% to 7.25%.

    Features and Benefits of ICICI iWish Flexible Recurring Deposit

    A unique Recurring Deposit scheme that is designed for wise investors. ICICI iWish Flexible Recurring Deposit scheme also brings with it an array of features and benefits. Here are some of the advantages that come with iWish RD.

    • Flexibility Like Never Before

    ICICI Bank customers have the option of setting flexible goals in the form of flexible recurring deposits, where any amount can be put in at any time. Customers may or may not make deposits for a month, according to their convenience. ICICI Bank does not impose any penalty if the customer does not make any deposit for a month. Also, there is no cap on the number of times a customer can make deposits during a month. Customers can close their goals or recurring deposits any time they want.

    • Convenient Tenure Options

    Customers can choose a convenient tenure option ranging from a minimum of 6 months to up to 10 years.

    • Returns from iWish

    The interest rate earned on ICICI iWish recurring deposit account ranges from 6.00% to up to 7.25%, depending on the tenure of the deposit. If a customer chooses to close an iWish recurring deposit account halfway through the tenure then the interest rate earned will according to the tenure the deposit has been there with ICICI Bank. For premature closures, ICICI Bank might also levy a penal interest rate. In case an account holder does not achieve his goals, the interest rate is not affected. If the goal is achieved before the end of the tenure, the deposit can be retained till the end of the tenure at higher interest rates.

    • Facebook Sharing

    Customers can share their Recurring Deposit Goals on social media and get contributions from their loved ones to realize the goals.

    • ICICI iWish RD Calculator

    ICICI Bank customers can use the iWish RD Estimator to understand how much funds they have to deposit each month to reach their goals. The inputs required for the calculator are goal amount, deposit tenure, interest rates and the savings required.

    Premature Closure of ICICI iWish Recurring Deposit

    Customers can opt for withdrawal of their iWish RD amount even before the end of tenure. In such cases, the interest will be calculated depending on the rate applicable for the tenure in which the deposit has actually been in the ICICI iWish RD account. The penalty for premature withdrawal of iWish RD account is as follows.

    Original Tenure of DepositLess than Rs. 5.0 croreRs. 5.0 crore & above
    Less than 1 year0.50%0.50%
    1 year & above but less than 5 years1.00%1.00%
    5 years and above1.00%1.50%

    Advantages of ICICI iWish Flexible Recurring Deposit

    Do you have some extra money parked in your account? Register for ICICI iWish Recurring Deposit and enjoy earning interest on that extra money. Here are some of the advantages that come with ICICI iWish Flexible Recurring Deposit.

    • Unbeatable Interest Rates

    Depending on the deposit amount and the tenure, the interest rates for ICICI iWish Flexible Recurring Deposit goes up to 7.25% per annum. In fact, the flexible RD from ICICI gives the same interest rate as fixed deposit.

    • Total Flexibility

    Customers can contribute any amount anytime and can also choose the deposit amount. If your finances tighten up during a particular month, you can also choose not to deposit any amount for that month.

    • Multiple Deposits

    Unlike the normal recurring deposit scheme where only one deposit can be made in a month, customers can make multiple deposits in ICICI iWish Flexible Recurring Deposit account in a month. There is no cap on the number of deposits that can be made in a month.

    • No Penalty for Missed Deposit

    If a customer chooses not to make deposits during a month, no charges are levied in ICICI iWish Flexible Recurring Deposit. Customers are free to make a deposit any time they wish over the tenure.

    • Social Sharing

    ICICI iWish Flexible Recurring Deposit customers can post their goals on Facebook to get support from their friends and family. Whenever a contribution is made, you can share it on Facebook to get some cheer.

    • Get Contributions

    You can also get contributions from your friends or family for your goal. Friends and family members can directly click on your goal from Facebook share and contribute a deposit amount.

    FAQs for ICICI iWish Flexible Recurring Deposit

    1. Will I incur any penalty if I close my ICICI iWish Flexible Recurring Deposit before the end of tenure?

      Yes, a nominal fee will be levied as penalty for premature closure of the account. Also, you will only earn interest at the rate applicable to the period for which the amount remained in the ICICI iWish Flexible Recurring Deposit account.

    2. What if I deposit the required money for my goal well in advance of the tenure completion?

      In ICICI iWish Flexible Recurring Deposit account, if you achieve the goal early, you can continue investing the amount every month till the period for which the goal was initially targeted. You will continue to enjoy interest rate benefits for the period of tenure originally selected.

    3. I was unable to make a deposit into my ICICI iWish Flexible Recurring Deposit account last month. Will I be levied any penalty?

      There are no charges or penalty if you fail to make a deposit. Also, you will continue enjoying the interest rate applicable on your recurring deposit amount in the account.

    4. My friend wishes to contribute towards my goal in ICICI iWish Flexible Recurring Deposit account. Is it necessary for him to have an ICICI bank account to make a deposit in iWish?

      No, for friends or relatives to contribute to your ICICI iWish Flexible Recurring Deposit account, they just need to have a valid VISA debit card.

    5. Is it compulsory to share my ICICI iWish Flexible Recurring Deposit goals on Facebook?

      No, sharing your goal on Facebook is just a feature intended to make savings more fun and it is not mandatory to share your iWish goals on Facebook.

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    RD Reviews

  • Page 1 of 1
    • ICICI Bank Recurring Deposit
      "Go for it "
      ICICI BANK
      0.5 4.0/5 "Great!"
      Its amazing to hold this ICICI RD IWISH account as it is very much flexible. I can deposit how much ever I want and I can withdraw the same amount as well. I am holding this ICICI RD for about a year now. I am very much happy with the terms and conditions. Any time I can close this RD online but I am not sure about the charges.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Nov 15, 2016
    • ICICI Bank Recurring Deposit
      "Most flexible "
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      The word IWISH states, about the flexibility in holding a recurring deposit. I dont find more conditions applied to the account and its purely based on customer's decision on the transaction made. They give interest based on the tenure and it starts from 7.5%.Its easy to get the updated status about the account through ICICI Bank portal.
      Was this review helpful? 2
      , pune
      Reviewed on Aug 24, 2016
    • ICICI Bank Recurring Deposit
      "Good "
      ICICI BANK
      0.5 3.5/5 "Pretty good"
      ICICI Bank is good for recurring deposit.They have provided convenient online system to transact on the account.The rate applied for the recurring deposit was around 8% which has a minimum locking period of 1000Rs in account.The IWISH account process is much comfortable for the customer.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 13, 2016
    • ICICI Bank Recurring Deposit
      "Flexible and useful "
      ICICI BANK
      0.5 4.5/5 "Excellent!"
      I am really happy with the service provided by ICICI Bank in recurring deposit.I have taken a IWISH account for recurring.This is a flexible option for making payments and very useful for the customers.They apply interest rate around 7.5% for the RD.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 16, 2016
    • ICICI Bank Recurring Deposit
      "Late response "
      ICICI BANK
      0.5 3.0/5 "Satisfactory"
      The ICICI Bank recurring deposits service was also good.I do have a IWISH account in which I can deposit as per my wish.The interest rate applied was quite less with ICICI Bank.They apply interest around 7.55% for the account.I have mailed to their headoffice and still waiting for a reply from long time.
      Was this review helpful? 0
      , greater noida
      Reviewed on Dec 21, 2015
    • ICICI Bank Recurring Deposit
      "Gain more without loss"
      ICICI BANK
      0.5 4.0/5 "Great!"
      ICICI RD is fine its a regular RD. They have recently introduced IWISH account which was awesome. Any time I can deposit there is no time line there. There is no limit there. There is only a maximum cap which is 49k per transactions we can deposit any number of times based on the deposit duration I will get the amount back.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 27, 2015
    • ICICI Bank Recurring Deposit
      "Maximum returns"
      ICICI BANK
      0.5 4.0/5 "Great!"
      I have opened the recurring deposit with the ICICI bank through the online banking services. Rate of interest is depends of the maturity period like for 15 months it would be around 9.25%. I can track my account easily and through the Iwish application I can do the money transfer at 24*7 without any limitation.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Nov 17, 2015
    • ICICI Bank Recurring Deposit
      "Best IWISH plan"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      Its really flexible to use this recurring deposit with ICICI Bank.I do have a IWISH plan and its a greatest plan for saving.A customer can choose what he really require in this plan.They do apply interest rate around 9% for this account.I am really happy with this service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 02, 2015
    • ICICI Bank Recurring Deposit
      "Best rates"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I do have a IWISH recurring deposit account with ICICI Bank.The specialty of this account is I can make any amount of payment as per the customer wish.They have applied interest rate around 9% for the IWISH account.I would like to recommend about ICICI Bank to others.
      Was this review helpful? 0
      , noida
      Reviewed on Oct 26, 2015
    • ICICI Bank Recurring Deposit
      "Good"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I was holding rs 5000 at IWISH account and I was trying my best to cancel that I have tried to close it unfortunately I was unable to close it. Finally after calling the customer support team this was sorted out. At the same time I was also holding a normal RD account which was really good and it was very easy for me to dissolve it as I have opted for auto pay and the amount would be transferred to my account automatically.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 19, 2015
    • ICICI Bank Recurring Deposit
      " Very good"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I am holding a IWISH account with ICICI Bank. They are completely flexible how much ever amount we want we can deposit. The amount is fixed , we can set our goals then we can reach the goal according to our wish. If reach our goal we will be getting 8% as interest otherwise based on the amount which we have reached we would get interest accordingly. Interest is calculated on a pro rata basis and we can share this information in Face book as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 17, 2015
    • ICICI Bank Recurring Deposit
      "Good"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I am holding a IWISH account with ICICI Bank. the rate of interest offered by them was not that good. Other banks are giving much better interest rate. Of course they have charged me some additional charges as well not sure why. Partial liquidation is allowed here. No compliments were given,
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2015
    • ICICI Bank Recurring Deposit
      "iWish is worth opening"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have multiple iwish rd's online. Its very convenient as i can invest money at my will at any point of time. Interest rates are also on higher side. I would suggest people to go with this flexible rd option available only at icici bank. Best thing about this iwish is that it can be opened online
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Mar 08, 2015
    • ICICI Bank Recurring Deposit
      "RD - A Very Good Service"
      ICICI BANK
      0.5 4.5/5 "Excellent!"
      I opened a recurring deposit with ICICI few months ago and its very good option to save your money. ICICI provided me every little piece of information required for the saving. I applied it through internet banking. I didn't opt for iWIsh because I wasn't sure about it but RD is a very fine way to save money without any headace.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jan 15, 2015
    • ICICI Bank Recurring Deposit
      "Great goal based "
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I am holding a IWISH RD account . Beauty is everything can be done online. I can deposit how much ever I want when ever I want. It gives me a freedom and its highly flexible. I am not happy with their closure procedure as I have to pay some interest amount or they would deduct certain interest amount . This account was set up as a goal for daughterâ??s education.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 10, 2015
    • ICICI Bank Recurring Deposit
      "Very good"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I am holding a IWISH RD account with ICICI Bank. Its a flexible one. They were offering the highest rate of interest. I put money as and when I want. However, while withdrawing there is a deadline a customer can close it, only after a specific period and they would charge 1% on that.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 30, 2014
    • ICICI Bank Recurring Deposit
      "Good one "
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I am holding a IWISH accoun with ICICI Bank. Rate of interest offered by ICICI Bank for the RD account is good. It is the best when compared with others. We can easily save money through online without taking any special efforts. As and when we want we can transfer money online to the RD account. Its very easy to transfer funds as well.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 27, 2014
    • ICICI Bank Recurring Deposit
      "Best plan for saving money"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have invested in IWish recurring deposit of ICICI Bank. It is very flexible recurring scheme. If you want to invest in recurring then no worry about when to deposit and how much to deposit. No limitations and immediate cancellation when need of money.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 20, 2014
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