Forgot Password? Get User ID?
How Can We Help You?
Find relevant answers to most of your queries here.
Submit your request/query.
Check FAQs, raise Service Request, share compliments or raise complaints
Locate our branches and ATMs.
iWish Terms and Conditions
These Terms and Conditions (the "Terms") apply to and regulate ICICI Bank's iWish program offered by ICICI Bank and are in addition to and not in derogation of the terms and conditions applicable to ICICI Bank Internet Banking services, ICICI Bank's Savings Account And ICICI Bank Recurring Deposits (collectively referred to as the "Primary Terms and Conditions") as available on www.icicibank.com. To the extent of any inconsistency between these Terms and the Primary Terms and Conditions, these Terms shall prevail. All capitalized terms used herein but not defined shall have the same meaning as specified under Primary Terms and Conditions.
In these Terms the following words and phrases shall have the meaning set herein below, unless the context indicates otherwise, and as may be modified from time to time.
"Account/s" shall mean an ICICI Bank's Savings Account having valid access to ICICI Bank's internet banking services.
"Debit Card/s" in relation to this Program shall mean such debit card/s including debit cards issued by ICICI Bank which are specified by ICICI Bank , from time to time, as being eligible for making monetary contributions to the Recurring Deposit under this Program.
"Customer/s" shall mean resident Indian individuals / HUF holding an Account.
"Goal/s" shall mean the objectives / targets / purposes chosen by the Customer/s in the form and manner required by ICICI Bank policy/process/terms in this regard with respect to which the Customer intends to place the corresponding Recurring Deposit with ICICI Bank under the Program.
"Goal Amount/s" shall mean the amount/s specified by the Customer/s to achieve the Goal/s and for which the corresponding Recurring Deposit shall be placed by the Customer/s under the Program in the manner required by ICICI Bank policy/process/terms in this regard.
"Maturity Date" shall mean the date on which the Tenure is completed and the Recurring Deposit shall be due for repayment to the Customer/s.
"Micro-site" shall mean the white labeled website made to manage the Program.
"Program" shall mean ICICI Bank's iWish program offered by ICICI Bank by virtue of which Customer/s may place Recurring Deposit for a specified Tenure, through the Micro Site, with ICICI Bank to achieve specified Goal/s, subject to these Terms and ICICI Bank policy/process/terms as prevalent from time to time.
"Recurring Deposit/s" shall mean the deposit/s placed and maintained by the Customer/s under the Program and subject to these Terms and Primary Terms and Conditions.
"Recurring Deposit Account/s" shall mean the account opened under the Program and maintained by ICICI Bank in connection with the Recurring Deposits.
"Tenure" shall mean the period for which the Recurring Deposit/s are placed with ICICI Bank as regards the Goals specified by the Customer/s under the Program. The period shall commence from the date of the deposit of initial funding in the Recurring Deposit and shall continue till such time as specified by the Customer/s at the time of placing the Recurring Deposit.
To participate in this Program, Customer/s shall be required to have valid and subsisting internet banking access to their Account. After logging in to their Account through the internet banking platform, the Customer/s shall be required to access the Micro Site in the specified manner and subject to the acceptance of the applicable terms. By accessing the Micro Site in the above referred manner, the Customer/s acknowledges that he has read and understood these Terms, undertakes to abide by the same and that these Terms shall constitute a valid and binding contract.
- Micro-Site and sharing:
The Program shall be available to the Customer/s through the Micro-site only. The Micro Site shall consist of private pages and public pages. Once the Customer/s accesses the Micro-Site, all pages that appear for the creation of a Recurring Deposit/s shall be private pages. The private pages on the Micro-site shall be accessible to Customer/s only and through their internet banking logged in section. The private pages shall contain details of the Recurring Deposit/s and other options to manage these Recurring Deposits including inter alia funding, operating, managing, sharing settings / details and closure of the Recurring Deposits and such other facilities as may be made available by ICICI Bank policy/process in this regard from time to time.
Once the Recurring Deposit/s has/have been placed and the Goal/s has/have been created in the specified manner, Customer/s shall have the option of sharing details with friends and family in order to seek their contribution towards the fulfillment of the Goal/s. The public pages of the Micro-site shall contain details regarding the Goal/s specified by the Customer/s and the percentage of the Goal Amount/s achieved from time to time. The Customer/s shall have the option to make available to any third party the details as contained in the public pages by sharing the url of the public page with such third party.
Additionally Customer/s with a Facebook account shall also have an option to share details as contained in the public pages with respect to the Goal/s on their Facebook page. On public pages, there shall be an option for such third parties who view the Goal/s shared by the Customer/s, to make contributions towards the Goal/s through usage of Debit Card/s. The Customer/s shall also have an option to make contributions towards the Goal/s through public pages by usage of Debit Card/s. For above referred contributions, the contributors shall be navigated to ICICI Bank's payment gateway.
The Customer/s acknowledge, agree and understand that by sharing their public pages and the details thereon with any third party and/or posting the details on their Facebook page, such information may be accessed by persons other than with whom the Customer/s intended to share the information. The Customer/s understand that sharing of the information on their public page/s and/or Facebook page may result in the information regarding their Goals/ Recurring Deposit/s being shared with the general public and the Customer/s undertakes the responsibility for any consequences arising out of such sharing and shall not hold ICICI Bank liable, in any manner, for any consequences as a result of any loss/expense/cost/damages/penalty etc incurred by the Customer/s in relation to this sharing and the Customer/s undertakes to exercise due care and diligence in sharing any details regarding the Goal/s / Recurring Deposit/s with any person.
The Customer/s acknowledges, represents and warrants that the private pages and the details contained therein are confidential in nature and solely accessible by the Customer/s. The Customer/s undertakes to treat the private pages and the details contained therein strictly private and confidential and not share either partially or fully any detail as contained therein with any third party.. The Customer/s acknowledges that the Customer alone is the authorized user of the private pages.
- Other Terms :
At the time of placing / creating the Recurring Deposit the Customer/s shall be required to choose a specific Goal, Goal Amount and other details required as per ICICI Bank policy/process/terms. All the above activities shall be undertaken by the Customer through the private page/s. Customer/s may only place one Recurring Deposit with ICICI Bank in relation to each Goal created under this Program. Customer/s shall have the option of specifying a maximum of ten (10) Goals and correspondingly may place a maximum of ten (10) Recurring Deposits with ICICI Bank under the Program at any given point in time. The Customer/s shall have the option of changing the Goal, (but not the Goal Amount and Tenure), specified by him/her at any time during the Tenure of the corresponding Recurring Deposit in the manner specified by ICICI Bank policy/process/terms in this regard, provided that the altered Goal shall be subject to being permitted by the applicable terms and conditions, costs and charges, policies and applicable law. The Goal Amount assigned to a corresponding Recurring Deposit opened under this Program can be for a maximum amount of Rs 10,00,000 and a minimum amount of Rs. 5000.
- Date of Recurring Deposit:
The effective date from which the credit shall be given for any funding with respect to the Recurring Deposit shall be the date on which ICICI Bank gets clear funds into the Recurring Deposit Account of the Customer/s.
- Initial and Subsequent Funding of Recurring Deposit:
The Customer/s shall be mandatorily required to provide initial funding in the form and manner required by ICICI Bank policy/process/terms in this regard, at the time of placing the Recurring Deposit/s of a minimum amount of Rs 500 and subject to a maximum amount of Rs. 49999.
After opening of the Recurring Deposit/s under this Program, Customer/s may subsequently deposit funds into the Recurring Deposit Account/s at any time during the Tenure of the Recurring Deposit/s in the form and manner permitted by ICICI Bank policy/process/terms in this regard. Funding of the Recurring Deposit/s by Customer/s may be done either through the Micro-site or through the ICICI Bank net banking or mobile banking facility or such other modes / means as may be made available by ICICI Bank from time to time and subject to such terms as may be specified by ICICI Bank from time to time. Funding of the Recurring Deposit/s opened under this Program through cash or cheque is not permitted.
After the Recurring Deposit Account/s is created then at any time prior to achieving the Goal Amount it shall be possible to deposit funds in the Recurring Deposit Account/s such that the total funds lying therein reaches 150% of the Goal Amount. Once the Goal Amount is achieved or exceeded it would not be possible to further fund the Recurring Deposit Account/s, however, the Recurring Deposit Account/s shall continue for the Tenure.
Third parties may transfer funds into the Recurring Deposit Account/s maintained by Customer/s under this Program in the form and manner specified by ICICI Bank policy/process/terms in this regard. Third parties may transfer funds to Recurring Deposit/s opened under this Program through Debit Card/s while using the payment gateway provided through the public pages of the Micro-site or by using the fund transfer facility available through ICICI Bank internet banking or mobile banking facility or such other modes / means made available by ICICI Bank from time to time and subject to such terms as may be specified by ICICI Bank from time to time. Transfers made by third parties to the Recurring Deposit Account/s using Debit Cards shall be subject to a maximum amount of Rs 49,999 per transfer. Funds transferred by a third party in favour of Recurring Deposit Account/s opened under this Program may be subject to charges / fees as per ICICI Bank's policy/process and as specified by ICICI Bank from time to time.
In case the funds transferred by the Customer/s or third parties are not credited to the Recurring Deposit Account/s maintained by the Customer/s due to any reason, then such amount shall be refunded back to the corresponding account of the Customer/s or third party from which the funds had been transferred subject to the such terms as may be specified by ICICI Bank from time to time.
The Customer/s hereby confirm and acknowledge that ICICI Bank shall not be required to maintain or provide to the Customer/s any details regarding contributions made by third parties to the Recurring Deposit Account/s opened under this Program. Customer/s shall also not be able, in any way, to control / monitor transfers made by third parties to the Recurring Deposit Account/s opened by Customer/s under this Program. Transfer of funds from a Recurring Deposit opened under one Goal to a Recurring Deposit opened under another Goal is not permitted under this Program.
DURATION OF DEPOSIT:
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 10 years.
PAYMENT OF INTEREST :
Interest on the Recurring Deposit/s opened under this Program shall be credited / deposited in the Recurring Deposit Account/s at the end of each calendar quarter, at the applicable rates as communicated to the Customer/s at the time of opening of the Recurring Deposit/s. Such interest rates shall be in accordance with the RBI directives issued from time to time. For the Recurring Deposits which become overdue, the interest rate applicable shall be the savings account rate of interest. However, in each calendar quarter for the overdue Recurring Deposits , while the interest shall credited at the applicable rates communicated to the Customer at the time of the opening of the Recurring Deposits, the excess interest credited during the overdue period shall be adjusted at the time of closure of the Recurring Deposits.
The Recurring Deposit/s placed by Customer/s under this Program shall be closed and be due for repayment on the Maturity Date. Customer/s shall have to apply for closure of the Recurring Deposit/s through the Micro-site to redeem the proceeds of the Recurring Deposit/s. In case application for closure of the Recurring Deposit/s is not made by the Customer in the manner specified by ICICI Bank from time to time, the funds in the Recurring Deposit/s shall continue to lie with ICICI Bank in an overdue state and shall earn interest at the prevalent savings bank account interest rate till closure of the Recurring Deposit/s in the specified manner by the Customer/s. Also the overdue recurring Deposit/s can be closed by the ICICI Bank any time after the maturity date in case the same is not closed by customer in the manner specified by ICICI Bank.
REPAYMENT BEFORE MATURITY :
Customer/s can apply for premature closure of the Recurring Deposit/s placed under this Program through the Micro-site in the specified manner. However, in such cases, the Recurring Deposit/s shall be subject to premature withdrawal charges as applicable and specified by ICICI Bank from time to time. On premature closure of the Recurring Deposit/s, interest to be paid on the Recurring Deposit/s shall be calculated at the rate corresponding to the period for which Recurring Deposit/s remained placed with ICICI Bank and the amount accumulated in the Recurring Deposit Account/s up to the date of application for premature closure by the Customer/s with such interest less the amounts payable (like premature closure charges etc) by the Customer/s to ICICI Bank shall be paid to the Customer/s in the form and manner specified by ICICI Bank policy/process in this regard.
CLOSURE OF ACCOUNTS :
The Goal/s specified by the Customer/s under this Program should be specified in the form and manner required by ICICI Bank policy/process/terms and should only be for a purpose considered lawful as per applicable laws. ICICI Bank reserves the right to close the Goal/s and the corresponding Recurring Deposit/s opened/placed under this Program by the Customer/s if it is found that the Goal specified by the Customer/s is illegitimate, unlawful or prohibited. In such cases, the Recurring Deposit/s will be closed forthwith and the amount accumulated in the Recurring Deposit/s up till the date of closure shall be transferred to the Customer/s Account. In case of closure of the Recurring Deposit/s in the manner specified by this term, the Recurring Deposit/s shall be subject to premature withdrawal charges as applicable and specified by ICICI Bank from time to time. On closure of the Recurring Deposit/s in the manner specified in this term, interest to be paid on the Recurring Deposit/s shall be calculated at the rate corresponding to the period for which Recurring Deposit/s remained placed with ICICI Bank. Intimation of the same shall be given to the Customer/s through SMS on the mobile number registered with ICICI Bank with respect to the Recurring Deposit/s.
Nomination facility is available for the Recurring Deposit/s opened under this Program in the names of individuals. Customer/s shall have to visit the branch to register a nomination with respect to the Recurring Deposit/s. Only one nominee is permissible per Recurring Deposit and the nomination is to be made by the Customer/s duly witnessed by a third person. The Customer/s should ensure that (s) he gets / is given the acknowledgment as per the nomination rules framed by RBI. The Customer/s is/are at liberty to change the nominee, through declaration in the appropriate form to revise the nomination during the Tenure of the Recurring Deposit/s with ICICI Bank.
CHANGE IN TERMS:
ICICI Bank expressly reserves the right, at any time and without prior notice to the Customer/s, to add to and /or alter, modify, change or vary all or in part, the Terms related to this Program.
Any tax or other liabilities or charges payable to the government or any other statutory authority/body or any participating establishment, which may arise or accrue to the Customer/s due to provision of the Program shall be to the sole account of the Customer/s. Tax deducted at source, if any, on the Recurring Deposit/s shall be payable by the Customer/s.
Disputes, if any, arising out of or in connection with, or as a result of this Program or otherwise shall be subject to the laws of India and the exclusive jurisdiction of the competent courts/tribunals in Mumbai only.
SET-OFF AND LIEN:
ICICI Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on all account/deposits of the Customer/s with the Bank, whether in single name or joint name(s), to the extent of all outstanding dues to ICICI Bank. For such purposes, ICICI Bank may at its sole discretion close the Recurring Deposit/s prematurely and apply a penal rate of interest in respect of the same. The lien shall be valid and binding on the Customer/s and operative until repayment in full of all moneys due to the ICICI Bank from the Customer/s. The lien conferred on ICICI Bank as recorded and expressed herein shall be irrevocable and shall be a continuing one and shall remain in full force and effect till such time the deposit holder/s repays/retires all amounts due and payable and remain unpaid to the ICICI Bank in respect of any monies due to ICICI Bank from the Customer/s.
Indemnity and Limitation of liability :
- The Customer/s hereby agrees that the Customer/s shall, at his/her/its own expense, indemnify, defend and hold harmless ICICI Bank from and against any and all liability or any other loss that may be incurred by ICICI Bank, arising from or relating to the Customer/s use of this Program or operation of the Recurring Deposit/s or breach, non-performance or inadequate performance by the Customer/s of any of these Terms or the acts, errors, representations, misrepresentations, misconduct or negligence of the Customer/s in performance of his/her its obligations.
- The Customer/s agrees and acknowledges that ICICI Bank shall in no way be held responsible or liable if the Customer/s/ third party incurs any loss/damage etc as a result of any information being shared from private and/or public pages of the Micro-site by the Customer/s and/or Facebook with any person and the Customer/s shall fully indemnify and hold harmless ICICI Bank for any loss / damage / claim etc resulting to / against ICICI Bank in respect of the same.
- The Customer/s agrees and acknowledges that any loss, damage, liability caused or suffered by the Customer/s due to disclosure of any information of a confidential nature and such loss/damage/liability shall be borne by the Customer/s without transferring any liability or responsibility towards ICICI Bank.
- The Customer/s agree and acknowledge that ICICI Bank shall in no way be responsible or liable in relation to funds transferred by a third party to the Recurring Deposit Account/s in the name of the Customer/s and the Customer shall fully indemnify and hold harmless ICICI Bank and its Affiliates in respect of any loss / damage / claims arising out of or in relation to the same.
- Under no circumstances shall ICICI Bank be liable to the Customer/s for any indirect, incidental, consequential, special or exemplary damages incurred by the Customer/s in connection with the Program.
- ICICI Bank shall not be liable for any failure to perform any obligation contained in these Terms or for any loss or damage whatsoever suffered or incurred by the Customer/s howsoever caused and whether such loss or damage is attributable (directly or indirectly) to any dispute or any other matter or circumstances whatsoever.
- The Customer/s shall keep ICICI Bank indemnified at all times against, and save ICICI Bank harmless from all actions, proceedings, claims, losses, damages, costs, interest (both before and after judgement) and expenses (including legal costs on a solicitor and client basis) which may be brought against or suffered or incurred by ICICI Bank in resolving any dispute relating to the Customer's Recurring Deposit/s with ICICI Bank or in enforcing ICICI Bank's rights under or in connection with these Terms and conditions contained herein, or which may have arisen either directly or indirectly out of or in connection with ICICI Bank performing its obligations hereunder.
- If any sum due and payable by the Customer/s is not paid on the due date, including without limitation any moneys claimed under this paragraph, the Customer/s shall be liable to pay interest (both after as well as before any judgement) on such unpaid sum at such rate or rates as ICICI Bank may from time to time stipulate from the date payment is due up to the date of payment.
- The Customer/s shall solely be responsible for ensuring full compliance with all the applicable laws and regulations in any relevant jurisdictions in connection with availing of the Program from ICICI Bank and shall indemnify and keep indemnified ICICI Bank from all actions, proceedings claims, losses, damages, costs and expenses (including legal costs on a solicitor and client basis) which may be brought against or suffered or incurred by ICICI Bank in connection with any failure to comply with any such applicable laws/regulations.
- The indemnities as aforesaid shall continue notwithstanding the termination of the Account/s and/or Recurring Deposit Account/s.
USE OF EXTERNAL SERVICE PROVIDERS AND AGENTS :
ICICI Bank may, at its sole discretion, utilize the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products/services.
Explore the power of simpler and smarter banking. Bank online with over 250 services
Bank on the go with our Mobile Banking services. Download app or use SMS
Pockets by ICICI Bank
VISA powered Universal payment wallet. Download today
Bank 24/7 through a widespread network of over 4,850 branches and 13,882 ATMs