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.

Like any other transaction, funds if any will be credited to their account within 4-7 working days.

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

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 5 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 5 years

The minimum amount is Rs. 5,000 and the maximum amount is Rs. 5,00,000.

You cannot have more than 25 active goals. So, if you have created 25 goals and all these goals are not yet closed, then you cannot create any further goal. As soon as any goal is closed, you can create new goal against that goal.

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

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.

According to Finance Bill, 2015, effective June 1, 2015, TDS shall be applicable on the interest earned on recurring deposit/ variable recurring deposits etc. Interest earned from fixed deposit/ recurring deposit / variable recurring deposit shall be clubbed for the purpose of computing the total interest paid/ payable during the financial year and applicability of TDS.

It has also been proposed that banks need to deduct tax on interest credited/ paid or likely to be credited/ paid exceeding Rs. 10,000 to a depositor at bank level as against the existing process of branch level. As per the provisions of Finance Act 2009, w.e.f April 1, 2010, valid PAN is required to be submitted by all customers whose tax needs to be deducted. In the absence of a valid PAN, tax will be deducted at the prevailing rate or 20% whichever is higher. Also, Form 15G/ H shall not be treated as valid, unless PAN is mentioned in such forms.

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.

You cannot change amount or the period of your goal.

If you want to automatically deposit money every month from a savings account, then you also have the option to set up standing instructions towards your iWish goal. Login to Internet Banking > Exclusive Offerings > Iwish-Flexible RD > Manage your Goal > My Goals > Manage > Edit > Standing Instruction (Optional).

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.

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.

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.

On the maturity date I wish goal will be automatically closed and amount will be credited back in your savings account.

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

For the overdue period the interest is calculated as per the prevailing Saving Account Interest Rate. However, the interest shall be credited / deposited in the Recurring Deposit Account (“Account”) as per the applicable rate of interest at the end of each calendar quarter. At the time of closure of the Account the rate of interest for the overdue period shall be revised as per the prevailing Saving Account Interest Rate and any excess interest credited for the overdue period shall be adjusted at the time of closure of the Account.

In case your iWish reaches the target amount, it will not be considered for auto credit for iWish Chhota Savings.

The Chhota Savings amount for the particular day will be credited to your iWish on the next working day. In case of holidays or weekends, it will be credited the day after one working day.

Yes, you can disable the iWish Chhota Savings option any time from the iWish dashboard by logging in to Internet Banking.

If your account does not have enough balance for iWish Chhota Savings, auto credit will be partially executed. For example, if the Chhota Savings amount is Rs 100 and your account balance is Rs 70, the same will be credited to the iWish enabled for iWish Chhota Savings service.

How can I modify the round-off amount?

You can view the transactions related to iWish Chhota Savings under the ‘Transaction history’ section of that particular iWish enabled for Chhota Savings by logging in to Internet Banking.

iWish Chhota Savings can be enabled immediately after iWish creation or at any point of time post that till the closure of your iWish.

No, you cannot enable Chhota Savings for multiple iWish. It can be enabled for only one active iWish at any point of time.

No, once any iWish is enabled for Chhota Savings with a selected round-off amount, it cannot be modified.

Yes, you can do both for iWish enabled for Chhota Savings. You can set a Standing Instruction and also add funds to the iWish which is enabled for Chhota Savings.