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ICICI Bank Savings Account

Updated on August 4, 2022 , 34029 views

Known for its various financial products and services, ICICI is a leading private sector Bank in India. One of the product, which is serving for many years now is - ICICI Bank Savings Account. If you want to keep your money liquid, then a savings account can be your choice. It also helps in building a savings habit, which is important in today's time. It also provides mobile and internet banking through which you can keep track of all transactions.

ICICI Savings Account

ICICI Bank currently has a network of 5,275 branches and 15,589 ATMs across India. With such a wide network, you can withdraw your money anytime, anywhere.

Types of ICICI Savings Account

1. Titanium Privilege Savings Account

This account is designed to give you an effortless banking experience. It gives complimentary personal accident insurance protection and purchase protection cover. Some of the benefits you get are - discounted annual lockers, free Titanium Privilege Debit Card, nomination Facility, money multiplier facility, passbook, e-statement facility, free cheque book, etc.

The debit card offered on this account comes with attractive rewards and visa privileges. You can also make unlimited cash withdrawals at ICICI ATMs and other bank ATMs free of charge.

2. Gold Privilege Savings Account

Gold Privilege savings account gives exclusive banking benefits such as - free debit card with attractive offers and visa privileges. Additional advantages are unlimited cash withdrawal transactions at any bank’s ATM, access to free e-mail statements, free SMS alert facility, free passbook facility for account holders (individuals), etc.

You also get a complimentary personal accident insurance protection and purchase protection cover on your savings account.

3. Silver Savings Account

This ICICI savings account offers complimentary personal accident insurance protection and purchase protection cover. It gives added benefits such as a lower locker rental, waiver of DD/PO charges and SMS alert facility, etc. With this account, you can pay utility bills online through the bank’s bill pay service. Silver savings account also offers Smart Shopper Silver Debit Card with exciting offers and visa privileges.

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4. Regular Savings Account

With Regular savings account, experience the convenience of banking anytime, anywhere. You can perform routine transactions, such as bill payments, balance enquiry through multiple channels such as Internet & mobile banking or customer care. The account also offers a smart shopper silver debit card that can be used at ATMs and at POS. Additional features offered are free cheque book, passbook and e-mail statement facility.

5. Young Stars & Smart Star Account

This account is dedicated for a minor above 10 years of age. In case there is a balance shortfall in a child’s account, the bank follows a standard instruction, where the money is debited from the parents' account and credited in this account.

6. Advantage Woman Savings Account

This savings account with ICICI is designed exclusively for women. The account offers a special debit card, where you can have unlimited cash withdrawals. The interesting part is, you will get attractive reward points on everyday shopping. You can also enjoy the money multiplier facility (ICICI bank feature), wherein the surplus cash in the savings account is transferred automatically to a fixed deposit account to earn a higher rate of interest.

7. Senior Citizens Savings Account

Anyone who is above 60 years of age can open this account. Senior Citizens Savings account gives you an easy facility of paying utility bills via online. As an additional facility, you can get a free cheque book, passbook and e-mail statement facility. This savings account can be ported from one bank branch to another upon request of the account holder

8. Basic Savings Bank Account

This is a Zero Balance Savings Account with no requirement of maintaining a minimum balance. You can get a free debit card along with four free monthly transactions. This savings account also provides you with the nomination facility.

9. Pocket Savings Account

With ICICI pockets, you can get the convenience of using Facebook for banking. This account aims to make the whole process of savings and banking, more social and more fun. This is a unique “digital bank” where a virtual place is created to store your money. Customers of any bank can create a pocket account and instantly send and receive money from anyone, anywhere.

Moreover, ICICI Pockets users can enjoy an array of online shopping and other exclusive offers on the debit card.

10. 3-in-1 Account

This account is a combination of a saving account, Trading Account and Demat account. Under this account, you can trade and invest in a wide Range of products like Derivatives, Equity, IPOs, Mutual Funds, etc. An account holder can invest in over 2,000 mutual funds and get detailed research reports on over 200 mutual fund plans. You can trade-in derivatives, including futures and options and can make transactions up to Rs. 50,000.

Steps to Open an ICICI Bank Savings Account

Visit Nearest Bank Branch

To open an account offline, you can visit the nearest ICICI bank branch and request the bank executive for an account opening form. When you fill the form, ensure you all the details are correctly filled. The details mentioned in the application form should match your KYC documents that have been submitted along with the form.

Once the verification is done by the bank, your account will open and you'll get a free passbook, cheque book and debit card upon the opening of the account.

Online - Internet Banking

Visit the official website of ICICI bank. On the home page, you will find Saving Account - Apply Now option. Click on it and you will see two options - Insta Save Account and Insta Save FD Account, pick the desired option. You will be asked to fill certain details like PAN number, mobile number, etc. Once you fill the details, a representative from the bank will get in touch with you shortly.

Eligibility Criteria to Open Savings Account

Customers should meet the following criteria to open a savings account with the bank-

  • The person should be a citizen of India.
  • The individual should be 18 years of age or above, except in case of a minor savings account.
  • The customers need to submit valid identity and address proof to the bank.
  • Once the bank approves the submitted documents, the applicant will have to make an initial deposit depending upon the type of the savings account.

ICICI Bank Savings Account Customer Care

For any query or doubt, you can Call toll free number of ICICI bank- 1860 120 7777

Conclusion

ICICI bank offers around 10 different savings accounts and each account is feature-rich. Thereby, you can choose the account that suits the best as per your needs. Enjoy happy banking moments with ICICI bank.

FAQs

1. What is the most common savings account to open with ICICI Bank?

Although ICICI Bank offers a variety of savings accounts, the one that offers excellent privileges and a debit card is the Regular Savings Account. The eligibility criteria for opening a this account are as follows:

  • You should be 18 years and above.
  • The minimum balance required to open the account is Rs.10,000 in Metro areas and Rs.5000 in urban and Rs. 2000 and semi-urban areas.

Thus, this is one of the most manageable accounts to open with the Bank.

2. What are the benefits of the Senior Citizens Savings Account?

A: The Senior Citizens Savings Account offers an interest of 4% on the deposit and requires a minimum monthly balance of Rs.5000. The account also comes with a Smart Shopper Silver Debit card making it easier for senior citizens to make transactions.

3. Is there any account for youngsters?

A: The Young Stars Account is for minors below 18 years, and the Smart Star Account is for children from 10 - 18 years. For these accounts, the MAB is Rs. 2500. When a guardian opens such an account, he can activate a facility where money can be debited directly from the guardian's account to the account of a minor.

The account also comes with a customized debit card with a monthly transaction or withdrawal limit of Rs.5000.

4. Is there any account for women?

A: The Advantage Women's Savings Account is designed for women by the ICICI Bank. This account requires a MAB of Rs.10,000 and gives an interest of 4% per annum. Along with that, you will also get the MasterCard World Debit Card. This debit card is recognized all over India and internationally.

5. What are the basic criteria to open an account with ICICI Bank?

A: You will have to be 18 years and an Indian resident. You will also have to provide valid identity and address proof while opening a savings account.

6. Can I open a savings account online?

A: You cannot complete the entire process of opening a savings account with ICICI Bank online. However, you can log-in to the bank's website and apply for the procedure. You can also upload the necessary documents. Once you have uploaded and made the application, a bank's representative will contact for opening the suitable savings account.

7. How can I open a savings account offline?

A: You can open a savings account with the ICICI Bank by merely visiting the nearest branch. You will have to fill out the bank's form, provide your KYC details and wait for the verification to be completed. Once the verification is done, you will receive a cheque book and a pass book, and your account will be activated.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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