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ICICI Bank iWish - Flexible RD Interest Rates - January 2019

 5.0 / 5.0   by 17 users
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Promised Interest Rate

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Responsiveness

iWish Flexible RD is a unique online flexible recurring deposit that lets you save a small amount at a time in order to achieve big dreams later. Unlike regular recurring deposits, you need not invest a stipulated amount in the iWish Flexible RD every month. Any amount can be deposited at any point in time during the opted tenure. Funds can be deposited multiple times in a month. In case no deposits are made in a particular month within the tenure, no penalty is imposed by the bank.

The interest paid by the bank on iWish flexible RD ranges between 6.25% p.a. and 7.50% p.a. for general public. Citizens above the age of 60 years are offered interest at the rate of 6.75% p.a. to 8% p.a.

Interest Rates offered on ICICI iWish Flexible Recurring Deposit

Tenure Interest Rate (General) Interest Rate (Senior Citizens)
6 months 6.25% p.a. 6.75% p.a.
7 months to 9 months 6.50% p.a. 7% p.a.
10 months to 11 months 6.75% p.a. 7.25% p.a.
1 year 6.90% p.a. 7.40% p.a.
1 year 1 month to 2 years 7.10% p.a. 7.60% p.a.
2 years 1 month to 3 years 7.50% p.a. 8% p.a.
3 years 1 month to 5 years 7.25% p.a. 7.75% p.a.
5 years 1 day to 10 years 7% p.a. 7.50% p.a.

*The interest rates mentioned above are subject to change a per the bank’s discretion.

Premature Closure of ICICI iWish Recurring Deposit

The amount accumulated in the iWish recurring deposit account can be withdrawn even before the tenure opted for comes to an end. If you wish to do so, you will need to pay a penalty. In case of premature withdrawal from the iWish RD account, penalty will be levied by the bank at the rate mentioned in the table below:

Tenure of Deposit Less than Rs.5 crore Rs.5 crore and above
Less than 12 months 0.50% p.a. 0.50% p.a.
12 months to less than 60 months 1% p.a. 1% p.a.
60 months and above 1% p.a. 1.50% p.a.

*The rates are subject to change at the discretion of the bank.

Features of iWish Flexible RD

  • Wide range of tenures available: ICICI Bank offer you a wide range of tenures to choose from when it comes to opening an iWish Flexible RD. The bank offers tenures that range from 6 months to 10 years.
  • Offers attractive interest rates: The interest rates offered for opening an iWish Flexible RD are quite attractive. General citizens are offered interest in the range of 6.25% to 7.50% p.a. Senior citzens who opt to invest in iWish Flexible RDs are offered an additional interest of 0.50%.
  • Premature withdrawal facility available: ICICI Bank allows premature withdrawal from the iWish Flexible RD. The bank, however, levies a nominal penalty for doing so.
  • Facility to make multiple deposits in a month available: You can make multiple deposits in a month. This facility allows you to plan the expenses of the month and deposit the additional money in the RD account.
  • No penalty imposed for missing deposits: ICICI Bank does not impose any penalty if you don’t invest money in a particular month during the tenure.
  • Nomination facility available: You can nominate one nominee per iWish Flexible RD. He/she would need acknowledgement as per the nomination rules framed by the country’s central bank i.e., Reserve Bank of India.

FAQs

  1. Can I close iWish Flexible RD account using the bank’s net banking facility?
  2. Yes, you can close the iWish Flexible RD account using the bank’s net banking facility. To close the RD account, you need to follow the steps mentioned below:

    • Log into the internet banking account
    • Go to exclusive offerings
    • Click on iWish Flexible RD
    • Select ‘Manage your Goals’
    • Next, click on ‘Manage’
    • Select ‘Close Goal’
  3. What are the eligibility criteria for opening an iWish Flexible RD account?
  4. In order to open an iWish Flexible RD account, you need to be a resident individual or a member of the Hindu Undivided Family (HUF). Apart from that, you need to have ICICI Bank’s Retail Net Banking facility having at least one savings account linked to it.

  5. Are the interest rates offered on the iWish Flexible RD different from the ones offered on regular RDs?
  6. No, the interest rates offered on iWish Flexible RD are the same as the ones offered on regular RDs.

  7. How can I deposit funds in my iWish Flexible RD?
  8. Funds can be deposited in the RD account using any of the two options:

    • Set standing instructions on the ICICI Bank iWish page.
    • Transfer funds to the account from ICICI Bank iWish page.
  9. Is withdrawal of part amount allowed from the iWish Flexible RD account?
  10. No, part withdrawal is not allowed. You can, however, withdraw the entire amount before the end the tenure by paying premature closure charges.

Recurring Deposit by Banks
Recurring Deposit by other Institutions

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RD Reviews

Page 1 of 1
  • ICICI Bank Recurring Deposit
    "Excellent feature"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have another recurring deposit account with ICICI Bank, but this one is opened through iwish. It is a flexible recurring deposit. I can choose a goal and deposit fund as and when I want too. I do not have to do it only on a monthly or quarterly basis.
    Was this review helpful? 2
    , chennai
    Reviewed on Mar 10, 2019
  • ICICI Bank
    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? 6
    , hyderabad
    Reviewed on Nov 15, 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
    "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? 2
    , mumbai
    Reviewed on Sep 20, 2014
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