iWish Flexible RD FAQs 

You can start an iWish goal with a contribution as low as ₹500, making it accessible for all customers who wish to begin saving with smaller amounts.

iWish goals offer flexible tenures beginning from 6 months and going up to 5 years, allowing you to design short- and medium-term savings plans based on your specific goals.

Yes. iWish allows you to deposit any amount, at any frequency, based on your convenience.

No. There are no fixed monthly instalments. You can contribute freely, without the obligation to save on a specific date or for a fixed amount.You also have an option of setting up auto debit with monthly frequency

Yes. You may deposit as many times as you wish in a month. There are no upper limits on the number of contributions.

No. iWish does not impose penalties for missed deposits. The goal simply progresses based on how much you have deposited. You can make additional contributions later to stay on track.

Any resident ICICI Bank savings account holder with an active Net Banking or iMobile App profile can open an iWish goal digitally.

No. iWish is currently available only to resident individuals.
NRIs, OCIs, and PIOs cannot open or operate iWish goals.

Yes. Senior citizens earn preferential interest rates, similar to those offered on Fixed Deposits for the same tenure.

Yes. iWish earns interest at rates aligned with Fixed Deposit rates for the same tenure selected for the goal.

No additional documents are required if your KYC is already updated.
iWish is opened instantly using your existing savings account profile through iMobile App or Net Banking.

iWish is a fully digital product and cannot be opened at a branch.
You must create and manage iWish goals online through ICICI Bank’s digital platforms.

Yes,iWish is available for minors.

Senior citizens do not need additional documents to open iWish. However, age-proof should be updated in the Bank’s records to ensure preferential interest rates apply.

Updating your address or PAN at ICICI Bank automatically updates all linked accounts, including iWish. Your iWish goal continues without interruption.

Yes. You can add or update a nominee for the savings account linked to iWish. iWish uses the savings account nomination, so the same nominee applies. After creation if users wish to add/update nominee they can do so by visiting service request section > Add/Update nominee in RIB/iMobile

Not applicable.
NRIs are not eligible for iWish.

iWish is only for resident customers, so no documentation framework exists for NRIs

Any resident Indian with an active ICICI Bank savings account and digital banking access (iMobile App or Net Banking) can open iWish goals.

Yes. iWish is a 100% digital product, and goals can be created anytime, anywhere using:

• iMobile App → Login > Accounts & FD/RD > Deposits > Explore iWish

• Net Banking → Deposits → iWish

Yes. You can create a maximum of 25 simultaneous iWish goals, each with different target amounts and tenures.

Yes. You can begin with an initial contribution and continue adding funds as per your convenience.

No. Once linked, the funding account cannot be changed.

Yes. iWish is available only for resident individuals.

No. NRIs cannot create or manage iWish goals.

No. RDs cannot be converted into iWish. However, you may run both independently for diversified savings.

No. iWish is completely free to open and maintain. There are no service charges, penalties, or maintenance fees.

iWish earns interest at Fixed Deposit rates corresponding to the chosen tenure. Rates are published on the ICICI Bank website and updated periodically.

Yes. Once the goal is created and tenure is chosen, the interest rate remains fixed throughout the tenure, ensuring predictable returns.

Yes. Senior citizens earn preferential interest rates, similar to FDs of the same tenure.

Yes. TDS may be deducted if your aggregate interest across all ICICI Bank deposits exceeds the prescribed limit in a financial year.

No. The interest rate is locked at the time of creating the goal and does not change later.

No. iWish is a fully transparent savings product with no hidden fees or charges.

Nothing negative. There are no penalties for skipped months or irregular deposits. Your progress simply depends on how much you contribute.

Not applicable since NRIs cannot open iWish goals.

Yes. You can create and manage upto 25 iWish goals at the same time.
Each goal may have its own:

• Name

• Target amount

• Tenure

• Contribution pattern
  This helps you plan separately for different needs such as gadgets, travel, education, festivals, or emergency funds.

Yes. iWish offers complete customisation. You can personalise your goal name (e.g., “New Laptop”, “Europe Trip”, “Festive Shopping”) and choose any target amount that suits your objective.

iWish uses the nominee of your linked savings account. Therefore, your iWish goal is automatically covered under the same nominee details. You can update the nominee anytime through your savings account.

Yes. iWish includes digital milestone indicators, progress bars, and reminders that motivate you throughout your savings journey. These features make saving engaging and goal-oriented.

Not applicable, as iWish is only available to resident customers.

iWish offers greater flexibility compared to an RD:

• No fixed monthly instalments

• Contribute any amount, anytime

• Set personalized goals

• Track progress digitally

• No penalties for missed months
  This makes iWish ideal for customers seeking structured yet flexible savings.

iWish provides regular digital reminders, progress tracking, and target-based motivation to encourage consistent saving. While deposits are flexible, the goal structure helps instil financial discipline.

Yes. You can deposit any amount at any time—daily, weekly, monthly, or occasionally. This flexibility makes it suitable for customers with fluctuating income or irregular savings patterns.

Yes. You can create several goals simultaneously, each with unique names, amounts, and tenures. This helps you save methodically for different life events.

Yes. With tenures ranging from 6 months to 5 years, iWish covers:

• Short-term goals like gadgets or holidays

• Medium-term goals like education expenses

• Longer goals such as home improvements or emergency funds

Absolutely. iWish is a 100% digital product that can be opened, managed, tracked, and closed entirely through iMobile App or Net Banking.

Yes. iWish earns interest at Fixed Deposit rates and therefore offers assured and predictable returns upon maturity.

Not applicable. iWish is not available to NRI customers.

Not applicable. Since NRIs cannot create iWish goals, repatriation rules are not relevant

From S/a via fund transfer or UPI

Yes. You can contribute any number of times during the month without restrictions.

Nothing is penalised. Your goal remains active, but the progress slows until you resume depositing. Your maturity amount depends solely on your contributions.

No. There are no penalties for skipped months. You remain in full control of how and when you save.

iWish does not offer mandatory auto-debit since it is designed for flexible, voluntary contributions. You can deposit manually at any time.

No. The linked savings account cannot be changed mid-tenure. To use another account, you must close the existing goal and create a new one.

Yes. You can view your entire contribution history through iMobile App or Net Banking under Goal Details.

Not applicable since NRIs cannot operate iWish.

Yes. You can close your iWish goal at any time through digital channels. A penalty of 0.5% to 1% is charged on the applicable interest rate for premature withdrawal.

Yes. You will receive interest calculated at the rate applicable for the tenure completed up to the closure date.

No. iWish does not allow partial withdrawals. To access funds early, you must close the goal.

No. There is no lock-in period. iWish can be closed anytime.

Not applicable.

Not applicable.

No. EMI conversion applies only to payments made using credit cards or select banking transactions. iWish deposits cannot be converted into EMIs, and no instalment structure is imposed.

No. iWish contributions must come exclusively from your ICICI Savings Account. You cannot link, fund, or automate contributions via a credit card.

No. Since credit cards cannot be used to fund iWish, there is no way to earn reward points from iWish contributions.

Indirectly, yes. While iWish itself is not collateral, maintaining consistent savings can improve your financial discipline profile. Banks often review overall savings behaviour for unsecured loans, and regular iWish activity may help demonstrate responsible money management.

No. Even if an NRI continues an old iWish goal, it cannot be used for loans or overdraft purposes. Lending rules for NRIs do not treat iWish as collateral.

No. iWish is designed strictly as a savings product and is not treated as collateral for loans or overdraft facilities. Unlike fixed deposits, iWish goals cannot be pledged or used to secure credit lines.

No. No cannot adjust the tenure.

While there is no formal “pause” option, you may simply stop contributing temporarily. There are no penalties for taking a break, and your goal remains active until closed or matured.

If you reach your target early:

• You may close the goal and earn interest for the completed tenure (Premature charges will apply), or
• Continue contributing until your selected maturity date
• Your goal remains flexible based on your preference.

No. Partial withdrawals are not permitted. To access funds early, you must close the goal, after which the accumulated amount (with applicable interest) is credited to your account.

Not applicable. iWish is not available to NRIs.

Not applicable, as iWish cannot be created or managed by NRIs.

Once your target amount is achieved, you may:

• Continue saving until maturity, or
• Close the goal immediately and receive your savings along with applicable interest (Premature charges will apply)
  The choice remains fully flexible for your convenience.

If your goal matures without meeting the target:

• The amount accumulated until that date

• Plus accrued interest

…is credited to your linked savings account.
There are no penalties for not meeting your goal.

You can close your iWish goal instantly through:

• iMobile App: Select your goal → Close Goal

• Net Banking: Deposits → iWish → Close Goal
  The amount saved, along with applicable interest, will be credited to your savings account.

Funds are credited immediately to your linked savings account upon closing the goal.

No. Once closed, an iWish goal cannot be reopened. You may create a new goal at any time.

Not applicable. iWish is only for resident customers.

Not applicable, since NRIs are not permitted to hold iWish goals.

iWish is built within ICICI Bank’s secure digital ecosystem and is protected through:

• Multi-level authentication

• SSL encryption

• OTP validation

• Device-level security
  This ensures your transactions and savings data remain fully safeguarded.

Yes. Deposits linked to iWish are held within your ICICI Bank savings account or deposit structure and are protected up to ₹5 lakh per depositor per bank under DICGC guidelines.

You can verify your iWish details anytime through:

• iMobile App → iWish → Goal Details

• Net Banking → Deposits → iWish Dashboard
  All contributions, accrued interest, and maturity details are displayed transparently.

Take immediate steps:

1. Contact ICICI Bank Customer Care

2. Review recent transactions on iMobile App or Net Banking

3. Visit the nearest branch if required
   The Bank will secure your account and initiate necessary investigations.

Yes. Any critical action—such as deposits, changes in tenure, or closure—requires OTP authentication to ensure secure access.

Not applicable since NRIs cannot open iWish goals.

No. iWish does not allow you to adjust the target amount and modify the tenure.

iWish uses the nomination linked to your savings account. You can update the nominee by updating the nomination for the linked savings account through digital channels or any ICICI branch.

No. The funding account cannot be changed after the goal is created. To link a different account, you must close the existing goal and create a new one.

Yes. Contribution history and goal statements can be downloaded through iMobile App or Net Banking. These include detailed entries for each deposit made.

Not applicable. iWish is available only to resident customers.

Not applicable, since NRIs cannot create or operate iWish.

Yes. You can update the name of your iWish goal at any point through iMobile App or Net Banking. This helps you personalise and realign the goal based on your changing priorities.

No. iWish does not allow complete flexibility to increase or decrease the target amount.

Yes. You can enable reminders and notifications within iMobile App to track progress, stay aligned with your goal, and stay motivated throughout your savings journey.

iWish provides a dedicated goal dashboard that displays:

• Progress percentage

• Contributions made

• Remaining amount

• Tenure left
  This real-time progress tracking ensures you always know how close you are to achieving your target.

Yes. You can create multiple iWish goals simultaneously, each with its own:

• Target amount

• Tenure

• Purpose

• Contribution pattern

This is ideal for planning different financial milestones at the same time.

Yes. You may close your iWish goal at any time if you no longer want to save for it. The amount accumulated along with applicable interest will be credited to your savings account.

Not applicable. When a resident becomes an NRI, no new iWish goals can be created, but existing goals may continue until maturity. However, all new contributions must follow regulatory guidelines for NRIs.

Yes. iWish is a 100% digital savings facility and can be created, viewed, managed, and closed fully through iMobile App or Net Banking.

Yes. iWish is accessible on both platforms:

• iMobile App: For effortless on-the-go access

• Net Banking: For detailed goal tracking and contribution management

Both offer complete functionality.

No. iWish can only be created and managed through official ICICI Bank digital channels for security and authentication purposes.

If iWish is not visible:

• Update your iMobile App app

• Ensure your savings account is active

• Check if your KYC is updated

• Clear app cache or re-login
  If the issue persists, you may contact Customer Care or visit the nearest ICICI Bank branch.

Yes. Once your mobile number is updated in bank records, you can continue operating iWish seamlessly through iMobile App and Net Banking.

No. An active ICICI Bank savings account is mandatory for maintaining iWish goals. If the linked savings account is closed, the iWish goal will also be closed and proceeds credited before closure.

Not applicable. NRIs cannot create or manage iWish goals.

Yes. The nominee of your linked savings account automatically applies to your iWish goal. No separate nomination process is required.

Yes. Any changes to the savings account nomination will automatically apply to iWish as well. You may update nominee details through digital channels or at any branch.

In the unfortunate event of the account holder’s demise:

• The nominee or legal heir can claim the iWish proceeds

• The funds are settled as per the savings account nomination
  This ensures smooth and secure claim settlement.

Legal heirs or nominees can submit:

• Claim form

• Identity proof

• Death certificate

• KYC documents
  Once verified, the proceeds are released as per ICICI Bank’s standard claim settlement procedures.

Yes. Minors can be added as nominees. In such cases, the guardian’s details are recorded for claim settlement.

Not applicable. iWish is available only for resident customers.

Interest earned on iWish is treated as income from other sources and is fully taxable as per your applicable tax slab.

Yes. TDS may be deducted if your aggregate interest across all ICICI Bank deposits exceeds the prescribed limit in a financial year.

You may view or download TDS details through:

• iMobile App → Services → Tax Centre

• Net Banking → Tax → Interest/TDS Certificates

• Form 26AS on the Income Tax portal

No. iWish does not qualify for deductions under Section 80C or any other tax-saving category.

No. iWish is not eligible for 80C tax deductions.

Not applicable, as iWish is not offered to NRIs.

If your target is achieved earlier than expected:

• You may close the goal and receive funds with applicable interest, or

• Continue savings until the end of the tenure
  iWish allows full flexibility to choose.

Yes. With flexible contribution patterns and tenure options up to 5 years, iWish is ideal for saving towards:

• School fees

• Education-related expenses

• Skill courses

• Extracurricular activities
  It is also useful for medium-term financial requirements.

Yes. iWish is well-suited for planning recurring annual expenses. You can create dedicated goals for periodic payments and save steadily through the year.

If the linked savings account is closed, the iWish goal will also be closed automatically. The accumulated amount will be credited before account closure.

Yes. Changing your account variant does not affect your iWish goals. All active goals continue as long as the savings account remains operational.

If your residency status changes:

• New iWish goals cannot be created

• Existing goals may continue until maturity

• New contributions must comply with NRI regulations

Yes. Existing iWish goals may continue until maturity, although no new goals can be created after the status change.