The benefits of a flexible recurring deposit

Recurring Deposit (RD) is a special kind of term deposit offered by banks in India. It helps people to deposit a fixed amount every month and thereby helping him to accumulate savings with uniformity. The recurring deposit interest rates are same as the fixed deposit interest rates. The tenure and amount of investment in an RD account are decided by the customer at the time of opening the account. Any deviation from the pre-determined amount and a late investment reduce the RD interest rate, compromising the efficiency of the account.

Now, wouldn’t it be really good if the RD account was flexible and one could deposit any amount every month? With iWish, it’s possible! iWish is a flexible recurring deposit offered by ICICI Bank to all its savings bank account holders. ICICI Bank is the only bank in India offering the option of a flexible RD to customers.

By opening an iWish account, customers have the flexibility of contributing any amount, at any point of time without having to worry about additional charges or liabilities. If you have more spare money to save, you can deposit funds multiple times in a month into your account. Customers earn a higher rate of interest than a savings account (typically the applicable fixed deposit interest rates of the same tenure) with the added flexibility of being able to deposit any amount at any time.

It also allows you to create goals to save for specific wishes and share them with friends and family on Facebook. You can also choose to share your goals with family and friends on Facebook and let them be a part of your dreams. What's more, friends and family can choose to contribute to your goals from any bank account helping you achieve them faster.

Important things to remember:

• You need to have a savings account with ICICI Bank to be eligible to apply for an iWish account
• You need to activate your internet banking account before opening an iWish account
• You can create a goal by logging onto the ICICI Bank website and clicking on the iWish page. At the time of creating the goal, you will be required to enter information related to the goal (Name, Category, Amount and Tenure) and the initial deposit amount. You may choose to set up a standing instruction and also choose to share your goal on Facebook. After clicking on "Create Goal" your goal will be created instantaneously.
• You can transfer funds to your goal as soon as your goal is created. However, the goal balance will be displayed within 4 hours from creation of the goal. Please note that the goal will not be created in case 1) There are insufficient funds in your account, 2) Your funding account is in a frozen state, 3) Your funding account is dormant or inactive or 4) If you are an NRI or a corporate customer. If case of technical errors, your goal will get activated within 2 working days.
• The minimum amount of investment is Rs. 5,000 and the maximum amount is Rs. 10,00,000.

The primary goal of an iWish account is to make savings fun and flexible. To understand how to set up an iWish account, you may view: http://iwish.icicibank.com/iwish_faqs.html?faqs=flexibility

• Set auto debit for your home loan, auto loan and personal loan- Get 10 points on  Rs. 1 lakh of disbursement  every month for 12 months from the first pre EMI or EMI from your ICICI Bank Savings account
•  Shop with debit card-  Use your debit card and get 2,3,4,6 or 10 points per Rs. 200 spent depending on the debit card type
•  Load travel card- Get 100 points on minimum debit of Rs. 25,000 through your ICICI bank Savings account for loading ICICI Bank Travel Card. Earn 50 points on additional debit of Rs. 10,000
• Outward remittance- Earn 100 points on minimum debit of Rs.75,000 through ICICI Bank Savings account for outward remittance. Earn 100 points on additional debit of Rs. 25,000

ICICI Bank’s MySavings Rewards has an exclusive tie up with a multi brand loyalty programme called PAYBACK. You can accumulate reward points for performing any of the above mentioned transactions and then redeem them at any of the PAYBACK partner outlets like Central, Pantaloons and Big Bazaar etc. or on PAYBACK online partner websites like makemytrip.com, futurebazaar.com, bookmyshow.com etc. To get the complete list of merchant outlets where you can redeem your MySavings Rewards points, please click here.

MySavings Rewards is a detailed loyalty programme designed for customers to help them derive the maximum value out of banking with ICICI Bank. To know what’s in store for you, it’s best to get started right away! Happy shopping!

Enjoy the benefits of spending with MySavings Rewards

There is no denying of the fact that online shopping, whether it’s for daily essentials or luxury items, has caught the imagination of over a 100 million Indians connected over the internet and is seen to be the most convenient way of getting all that you need. At the mere click of a button.

Shopping online through tabs or mobiles has now become second in nature to most urban Indians where swiping a card to book tickets, hotels, make purchases or paying bills is normal and considered far more convenient as it eliminates the need to physically go to a bank or a travel agent or a shop which are time-consuming.

Now imagine how delightful it will be if you get rewarded each time you use your card to transact online. This essentially is the concept around which ICICI Bank’s, ‘MySavings Rewards’ is built. It’s designed to help you accumulate points every time you perform any of the following transactions through your ICICI Bank savings account.

1)    Activate internet banking with ICICI Bank- you get 100 points for the first time when you login to your net banking account

2)    Shop online- you get 1 point for every Rs. 100 spent online using internet banking. If you ensure that your minimum purchase value is Rs. 200 or more, then you stand to earn 100 points for every transaction

3)    iDirect account- you stand to gain 100 points for every time you activate an ICICI direct account and link it to your savings account

4)     Pay bills with internet- Get 10 points every time you pay a registered biller through your ICICI Bank Savings account using internet banking

5)   Set auto debit for recurring deposit- Get 100 points on every new direct debit from your ICICI Bank savings account towards your recurring deposit

6)   Activate iMobile- Get 100 points just to activate and login to iMobile

7)    Shop on iMobile- Get 1 point on every Rs. 100 spent using iMobile. Just ensure that your minimum purchase value is  Rs. 200 or more and you can earn upto 100 points on every transaction

8)    Add members to family banking- Consolidate your family banking accounts, create a Family banking id and get 400 points every time you add a new account to your Family banking id

9)    Set auto debit for your home loan, auto loan and personal loan- Get 10 points on  Rs. 1 lakh of disbursement  every month for 12 months from the first pre EMI or EMI from your ICICI Bank Savings account

10) Shop with debit card-  Use your debit card and get 2,3,4,6 or 10 points per Rs. 200 spent depending on the debit card type

11) Load travel card- Get 100 points on minimum debit of Rs. 25,000 through your ICICI bank Savings account for loading ICICI Bank Travel Card. Earn 50 points on additional debit of Rs. 10,000

12) Outward remittance- Earn 100 points on minimum debit of Rs.75,000 through ICICI Bank Savings account for outward remittance. Earn 100 points on additional debit of Rs. 25,000

ICICI Bank’s MySavings Rewards has an exclusive tie up with a multi brand loyalty programme called PAYBACK. You can accumulate reward points for performing any of the above mentioned transactions and then redeem them at any of the PAYBACK partner outlets like Central, Pantaloons and Big Bazaar etc. or on PAYBACK online partner websites like makemytrip.com, futurebazaar.com, bookmyshow.com etc. To get the complete list of merchant outlets where you can redeem your MySavings Rewards points, please click here.

MySavings Rewards is a detailed loyalty programme designed for customers to help them derive the maximum value out of banking with ICICI Bank. To know what’s in store for you, it’s best to get started right away! Happy shopping!

Banking on the move with ICICI Bank mobile banking

Wanna pay your bills, deposit money or recharge your mobile? Mobile banking is here to help you out.

With the growth of smartphones and tablets, consumers are increasingly getting comfortable with the idea of banking on the move, mainly due to the convenience. Security and multiple options provided by banks to help customers easily adapt to mobile banking also provide fillip to mobile banking.

Take, for instance, the mobile banking services provided by ICICI Bank. With ICICI Bank mobile banking, you can check your account balance, transfer funds, pay your bills, book bus and flight tickets, recharge your prepaid mobile or DTH connection and do a lot more effortlessly and securely. And all you can do 24x7.

ICICI’s mobile banking services work with almost all types of handsets and help you access your ICICI Bank account easily and securely. If you are an ICICI Bank customer having a savings account, loan account, demat account or credit card you can avail of this mobile banking facility, by registering with the Bank.

Customers can choose from a variety of m-banking services offered by banks like ICICI Bank, depending on their requirements. Some of the services that one can opt for are:

iMobile: It is ICICI Bank's mobile banking application that lets you transfer funds, pay bills, book travel or movie tickets, recharge your prepaid mobile and DTH connection, locate an ATM and do a lot more while you are on the go. If you have a GSM handset, all you need to do is SMS iMobile to 5676766 to downloa via GPRS. You can also visit http://mobile.icicibank.com/dl from your mobile browser to download iMobile. Similarly, you can also download the app on your computer by visiting http://mobile.icicibank.com/dl and transfer it to your mobile phone using Bluetooth or data cable. The best part about banking with iMobile is that customers stand to gain reward points for all their transactions through the ICICI Bank MySavings Rewards Program. Customers get 1 point for every Rs 100 spent for all transactions above Rs. 200. To know more about benefits that you can avail through MySavings Rewards, please visit http://www.icicibank.com/Personal-Banking/account-deposit/savings-account/rewards/index.html

SMS Banking: With ICICI Bank SMS Banking, an SMS is all you need to check your account balance, request a mini statement, recharge a prepaid mobile number, DTH connection or a broadband connection and much more. To know more about services that you can avail through sms banking, you may view the sms banking details   to know more.

Call to pay: To avail of the call to pay facility, customers have to register their numbers with ICICI Bank and generate an mpin which will be used to approve transactions. The daily transaction limit for call to pay service is set at Rs.5000. The registration and generation of mpin is a fairly easy process, described elaborately on the website, which customers can refer to in case of any doubts.

m.icicibank.com: You can access the internet banking portal from your mobile phones from anywhere by visiting m.icicibank.com. This is a browser based service compatible on most handsets and available across all mobile networks. Customers can log in using internet banking id and password and get instant access to bank and credit card accounts to perform all necessary functions from anywhere in the world, without having to physically sit in front of a computer.

Mobile banking with ICICI Bank is a seamless experience and is extremely secure. A great idea would be to log on to the website http://www.icicibank.com and completely understand all m-banking services before opting for the one that best suits your needs.