ICICI Savings Account
ICICI Bank, renowned for its diverse banking solutions, offers a variety of Savings Accounts tailored to your needs. Whether you’re a young professional, a seasoned investor, or someone who simply wants to manage daily finances effortlessly, there’s an ICICI Savings Account perfect for you.
Features and Services of ICICI Bank Savings Account
- Convenience: Enjoy anytime, anywhere banking with ICICI’s award-winning mobile app and internet banking platform. Manage your account, pay bills, transfer funds, and more with ease.
- High-interest rates: Earn competitive interest rates on your savings, helping your money grow steadily.
- 24/7 customer support: Get assistance whenever you need it through call centers, branches, or online chat.
- Wide ATM network: Access your cash conveniently with over 10,000 ATMs across India.
- Debit card benefits: Choose from a range of debit cards tailored to your spending habits, offering rewards, cashback, and other exclusive benefits.
- Add-on facilities: Enhance your account with features like overdraft protection, standing orders, and bill pay services.
Types of ICICI Bank Savings Accounts
- Regular Savings Account: Ideal for everyday banking needs with basic features and minimum balance requirements.
- Insta Save Account: Open an account instantly online with no paperwork or branch visits.
- Salary Savings Account: Get exclusive benefits and higher interest rates if your salary is credited to this account.
- Senior Citizen Savings Account: Specially designed for senior citizens with additional benefits and concessions.
- Savings Account for Minors: Start building a secure future for your child with a dedicated savings account.
ICICI Bank Savings Account Minimum Balance and Interest Rates
| Account Type | Minimum Balance (₹) | Interest Rate (%) |
|---|---|---|
| Regular Savings Account (Urban/Metro) | 10,000 | 3.00% |
| Regular Savings Account (Rural) | 5,000 | 3.00% |
| Insta Save Account | 0 | 3.00% |
| Salary Savings Account (Urban/Metro) | 10,000 | 3.00% |
| Salary Savings Account (Rural) | 5,000 | 3.00% |
| Senior Citizen Savings Account | 0 | 4.00% |
| Savings Account for Minors | 0 | 3.00% |
ICICI Bank Savings Account Charges
| Charge | Estimated Monthly Cost (₹) |
|---|---|
| Minimum balance penalty (average) | ₹25 |
| ATM withdrawals beyond free limit (4 per month) | ₹300 |
| Non-cash ATM transactions (up to 5) | Free |
| Cash deposit at non-home branch (once) | ₹50 |
| Cheque issuance (1 local cheque) | ₹50 |
| Non-financial transactions (6 per month) | ₹21 |
| NEFT/RTGS charges (online) | Free |
| Total Estimated Monthly Charges | ₹416 |
ICICI Savings Account Opening
There are two primary ways to open an ICICI Savings Account:
Online Account Opening:
Advantages: Quick, convenient, paperless, and can be done from anywhere.
Account Types Available: Most ICICI Savings Accounts can be opened online, excluding accounts requiring specific documentation like Salary Savings Account.
Process:
- Visit the ICICI Bank website and choose the desired account type.
- Fill out the online application form with your details.
- Provide Aadhaar authentication and complete a video KYC (Know Your Customer) verification.
- Fund your account with the minimum balance through online transfer or debit card.
- Your account will be activated within a short period.
Branch Account Opening:
Advantages:
Personalized assistance, suitable for those unfamiliar with online procedures or requiring specific account types.
Process:
- Visit an ICICI Bank branch near you.
- Discuss your needs with a representative and choose the suitable account type.
- Submit the required documents (identity proof, address proof, KYC documents).
- Fill out the physical application form.
- Fund your account with the minimum balance through cash, cheque, or debit card.
- Your account will be activated within a short period.
Documents Required:
- Identity proof: PAN card, passport, Aadhaar card, etc.
- Address proof: Utility bills, rental agreement, etc.
- KYC documents: As per government regulations (may vary based on your circumstances).
Activate Your Account:
- Visit the bank branch or use internet banking/mobile app to activate your account.
- Follow the instructions provided by the bank to activate your account successfully.
Start Using Your Account:
- Once activated, you can start using your ICICI Savings Account for various banking transactions.
- Enjoy the benefits and services offered by ICICI Bank tailored to your financial needs.