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

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Yes, you can close the Iwish account at any time. However, pre closure charges applicable.
If a iWish RD 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.

What if I achieve the goal early?

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You can continue to keep the amount into your goal till the end of the period for which the goal was originally targeted to be achieved. Moreover, you will continue to get higher rate of interest for the rest of the period.
 

How can I close my iWish goal?

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You may close your iWish goal through the below channels.
 
Internet Banking:
Login to your Internet Banking Account > Exclusive Offerings > IWISH-Flexible RD > Manage your Goals > Manage > Close Goal.
 
iMobile:
Login to iMobile -> Accounts & Deposits -> iWish-Flexible RD -> Manage your Goals > Manage > Close Goal. The funds will be immediately credited to your savings account.
 
You will be unable to partially withdraw the money mid way. You can withdraw money mid way by closing your goal. However in that case, you will earn interest at the rate corresponding to the period the goal is held with the bank. Please note that the applicable penalty will be charged for premature closure of goal.
 
If an 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 of 0.5% if original tenure is less than 1 year and 1% for more than 1 year.
 

What is the rate of interest for iWish RD?

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To know the existing interest rates, we request you to click here.

What if a goal is not achieved by the end of a goal period? Will I continue to enjoy better returns?

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ICICI Bank does not charge any penalty if a goal is not reached within the goal period. You will enjoy the rate of interest applicable on your recurring deposit on the funds available in your account.

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

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No. You cannot partially withdraw the money from your iWish goal mid way. You can withdraw money mid way by closing your goal. However in that case, you will earn interest at the rate corresponding to the period the goal is held with the bank. Please note that the applicable penalty will be charged for premature closure of goal.
 
If an 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 of 0.5% if original tenure is less than 1 year and 1% for more than 1 year.
 

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

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No. Once your goal amount is achieved, you will not be allowed to deposit money into your goal account.

What if I am not able to deposit money towards my goal in a certain month? Will I continue to enjoy better returns?

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There are no penalties or charges if money could not be deposited towards your goal every month. You will continue to enjoy the rate of interest applicable on your recurring deposit on the funds available in your account.

Can I change my goal later in iWish?

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You cannot change amount or the period of your goal.

CREATE NEW GOAL

What is the minimum balance required to be maintained for Advantage Woman Savings Account?

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The minimum Monthly Average Balance (MAB) required to be maintained for Advantage Woman Savings Account is Rs. 10,000.

Charges for Non-maintenance of Minimum MAB (NMMAB) with effect from June 1, 2016.

What are the charges applicable if I close FD/ RD/ iWish before the maturity date?

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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.

What is the minimum and maximum amount of initial deposit?

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The minimum deposit amount is Rs. 500 and the maximum deposit amount is Rs. 49,999.

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

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No. You cannot transfer money from one goal account to another goal account.

What is ICICI Bank iWish?

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iWish is a unique deposit which allows you to create goals to save for specific wishes.

These goals are flexible Recurring Deposits with the added benefit of contributing any amount, at any point of time. You earn better interest rates on your Recurring Deposit just like a Fixed Deposit (click here for rate of interest)

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How can I deposit money into my goal account?

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You can deposit money into your goal account through following means:

  • You can transfer money to your goal account from ICICI Bank iWish page.
  • You can set standing instructions on the ICICI Bank iWish page.

What is Advantage Woman Savings Account?

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ICICI Bank Advantage Woman Account is a Savings Account for the woman of today who is looking for independence and an identity of her own, a Savings Account which will help her save for the future as well enjoy the present.

This Savings Account brings to you all our core banking services with many exciting benefits and features attached, especially for our women customers.

Is there any charge for iwish flexible RD product?

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No, there is no charge for this product. This product and associated services are being offered free of charge.

However, a charge of Rs. 15 + service tax would be levied towards payment gateway charge on friends & family contributing to your goals.

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What is an Open/ a Closed goal?

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Open goals are active goals where money can be deposited into the goal. These are shown with an open lock icon in iWish. Closed goals are where money cannot be deposited into the goal. These are shown with a closed lock icon in iWish.

What is the minimum Monthly Average Balance (MAB) required to be maintained by the Family?

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The minimum Monthly Average Balance requirement for a Family ID is defined at the family level instead of the individual Customer ID level and is called Family Monthly Average Balance (FMAB). The minimum FMAB required to be maintained by the family is as follows:

Minimum balance requirementSavings FamilySilver FamilyGold Privilege FamilyTitanium Privilege Family
FMABRs. 30,000 (Metro/Urban Family) Rs. 20,000 (Semi-urban/Rural Family)Rs. 50,000Rs.1,00,000Rs.1,25,000 (reduced from Rs. 1.5 lac w.e.f. December 1, 2012)
Non-maintenance of FMAB chargesi. Rs. 500 per month if MAB falls below 10k
ii. Rs. 350 per month if MAB is above 10k and below 20k
iii. Rs. 175 per month if MAB is above 20k and below 30k (applicable only for Metro/Urban Family.)
i. Rs. 500 per month if MAB falls below 20k
ii. Rs. 350 per month if MAB is above 20k and below 50k.
i. Rs. 500 per month if MAB falls below 20k
ii. Rs. 350 per month if MAB is above 20k and below 50k
iii. Rs. 175 per month if MAB is above 50k and below 1 lac.
i. Rs. 500 per month if MAB falls below 20k
ii. Rs. 350 per month if MAB is above 20k and below 50k
iii. Rs. 175 per month if MAB is above 50k and below 1 lac iv. Rs. 100 per month if MAB is above 1 lac and below 1.25 lac.
Waiver of FMAB chargesSubject to FD of minimum Rs. 1.5 lac for Metro / Urban Family and Rs. 1 lac for Semi-urban / Rural Family, under the same Family ID.Subject to FD of minimum Rs.2.5 lac under the same Family ID.Subject to FD of minimum Rs.5 lac under the same Family ID.Subject to FD of minimum Rs.6.25 lac (reduced from Rs. 7.5 lac w.e.f. December 1, 2012) under the same Family ID

Categorisation of the Savings Family as Metro / Urban or Semi-Urban / Rural will be on the basis of the branch category where the primary customer ID of the Family ID is opened

Who is eligible to use iWish?

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iWish is available only to existing Savings Account holders of ICICI Bank. iWish can only be operated through your Internet Banking account.

However, please note that iWish is not available for Non Resident Indians (NRIs).

In case you do not have an ICICI Bank Savings Account you can apply online at HERE

In case you do not have your Internet Banking User ID and password, you can get them instantly at this link

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

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No. There is no such linkage between a goal category and the number of years during which the goal should be achieved. You can create a goal for the period as per your need.

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

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Yes. 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.

Do you have more questions on Advantage Woman Savings Account?

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To know more about frequently asked questions, Click Here.

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

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You can modify your standing instructions by clicking on the Manage button below the goal. If required, you can also create additional standing instructions. An option to cancel the standing instruction is also provided. If you want to cancel a particular transaction of the standing instruction, you can do so on the trigger date.

What are the benefits of Family Banking?

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The key benefits of Family Banking include the following:

  • Pricing benefit: The minimum MAB required to be maintained at the Family ID level is much lower than the MAB required to be maintained at the individual Customer ID level to avail of the same product benefits. Illustration: The minimum required MAB for a Gold Privilege Account is Rs. 50,000 and the minimum required FMAB for a Gold Privilege Family is Rs. 1,00,000. If 4 members of a family group together to form a Gold Privilege Family, then the minimum balance required to be maintained per person is Rs. 25,000. This is much lower than the MAB of Rs. 50,000 required to be maintained at the individual level.
  • Flexibility to maintain balances across accounts: Family Banking provides the flexibility to maintain the required minimum balance in any one or more of the accounts which are linked under the same Family ID.
  • Privilege benefits to all members: Family Banking makes the superior product benefits of an upgraded status available to all members of the family linked under the Family ID while the required minimum balance can be maintained in any one of the accounts.
  • All banking needs are catered to by a single 'Family' Bank.

What is the eligibility criteria for opening Advantage Woman Savings Account?

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The account can be opened with primary applicant as any resident Indian woman (majors above 18 years).

How can I manage my goals?

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You can see the list of all your goals by clicking on “Goals” on ICICI Bank iWish page. The “Goals” page displays a list of all your Open and Closed goals along with the progress. By clicking on an Open goal you can rename the goal, add funds to the goal, change the sharing settings and close the goal. You will also get SMS alerts when various milestones relating to a goal are achieved such as goal creation, funding of goal, goal closure and goal target progress.

What is a funding source?

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You can choose to fund your goal through one of the Savings Accounts linked to your ICICI Bank Internet Banking User ID. These linked Savings Accounts are known as funding sources in iWish.

Is rate of interest different from normal recurring deposit account?

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You earn same rate of interest what you earn in normal recurring deposit.

Is there minimum number of months / years to achieve goals?

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You can create goal with the target month you want to achieve it. However goal period can not be less than 6 months and greater than 10 years. Recurring Deposit/s under this Program can be maintained for a minimum tenure of 6 months and further in multiples of 1 month subject to a maximum of 10 years