How useful is ICICI Bank iwish account for investors ?

POSTED BY rajan.panchal24 ON March 28, 2013 10:52 pm COMMENTS (7)

How useful is ICICI Bank iwish account for investors ? How is it different from traditional recurring deposits ?

7 replies on this article “How useful is ICICI Bank iwish account for investors ?”

  1. Gotu says:

    I think its better concept than traditional FD or RD because:
    1. You can deposit any amount at any time
    2. You can skip for a month if you cant deposit
    When above can happen? Answer is:
    1. You have higher expense in perticular month e.g. School fees in June,etc.(Of course all expenses should be planned but sometimes its not possible to plan smaller goals)
    2.You receive higher amount in perticular month from dividends, annual/quarterly incentives, monthly variable salary components etc.

  2. Dear Ajay, thanks for the update. Are you over all liking the concept?



  3. Ajay says:

    @Manish – I got curious about this product and started an account for saving towards an annual expense [for which I was using conventional RD all these years]. One thing I got to know from ICICI customer care is that standing instruction cannot be provided like an RD [in spite of the website showing this as as option] and one has to manually move the funds from the funding account to this account. Little backward step from ICICI in my opinion OR there was some problem while setting up OR the customer service did not know an answer and just gave me this.

    One advantage I see is that if you have surplus money (a few hundreds is also fine) it can be deposited in this account to meet your goals earlier. Kind of helps ppl and encourages them.

    BTW, Do you know how ICICI is marketing this ? The ad on their website says “Dont feel like saving this month ? Then opt for this account and you will not be penalized for not depositing your contribution”. Another backward step from ICICI to discourage ppl ? 🙂

    1. Ajay says:



      After I called up the customer service, my this month’s contribution has been xfered from savings to iWISH. May be it was a temporary technical glitch last month 🙂

  4. Biswa Singh says:

    I think its a nice way to save your money for short term goal but i dont think it will work for long term. Also its a clever way by ICICI bank to encourage bank deposits. Definitely many people with little knowledge about personal finance are going to like it and do it thinking they will win this world one day 🙂

  5. I have looked at it , I guess its a nice thing for those customers who need a proper structure to save money for some particular goal . you can define a goal like “Vacation to Kerala” and then keep putting money into it whenever you have additional cash , this way it will tell you how much you have funded the goal . At the end its just labeling your money and it helps a lot of people .


  6. Dear Rajan, please tell what do you think as per your own understanding of the product.



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