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ICICI Bank launches online Flexible Recurring Deposit

Posted on Dec 05, 09:22PM | UNI

Private sector lender, ICICI Bank Limited today announced the launch of an innovative online Flexible Recurring Deposit product, 'iWish' for all savings account customers.

The product offers customers the flexibility to choose when and how much to save to meet their goals.

The bank is introducing iWish as a fun and flexible way to encourage savings among youth for fulfilling aspirations.

Unlike a traditional recurring deposit, iWish is a flexible recurring deposit that allows customers to save varying amounts of money at any time of their choice, a statement issued by the bank said.

Customers can create several goals and track their progress on an easy-to-use online interface. Customers can also choose to share their wishes on Facebook and let their friends and family be a part of their dreams by contributing to the customer's account from any bank account.

Customers have to simply log on to their accounts at www.icicibank.com using their Internet banking user ID and password and visit the iWish page. Customers can start saving with a minimum of Rs 500/- and with a minimum duration of 6 months, the statement added.