ICICI Bank savings account

⋆ Interest Rate 9.99% ⋆

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      ICICI Bank savings account

      ICICI Bank savings account Interest rate table

      Saving Account Interest Rate
      Titanium Privilege Account 3.00% – 3.50%
      Gold Privilege Account 3.00% – 3.50%
      Silver Savings Account 3.00% – 3.50%
      Regular Savings Account 3.00% – 3.50%
      Advantage Woman Savings Account 3.00% – 3.50%
      Life Plus Senior Citizens Savings Account 3.00% – 3.50%
      Young Stars Savings Account 3.00% – 3.50%
      Smart Star Savings Account 3.00% – 3.50%
      Pockets Savings Account 3.00% – 3.50%
      Basic Savings Bank Account- The ICICI Bank Edge 3.00% – 3.50%

      ICICI Bank savings account

      ICICI Bank, one of the leading banks in the country, offers a variety of banking services. It offers many lucrative loan schemes. Apart from that, ICICI Bank’s savings account features to lure the customers. It offers an interest rate from 3% to 3.5%. It calculates the interest rate on daily basis.

      ICICI Bank savings account features

      • t offers interest rates from 3.00% to 3.50% p.a. You can easily access ICICI Bank Savings Account anywhere through a large network of branches and ATMs.
      • If you want to transfer funds from the ICICI Bank Savings account to any other bank account, you can do it through modes such as RTGS, IMPS, NEFT, and UPI facilities.
      • To maintain an ICICI Bank Savings account, you require a minimum balance of Rs. 10,000 in metro and Urban locations, Rs. 5,000 in Semi-Urban and Rs. 2,000 in Rural locations.
      • ICICI Bank’s personalized account number and checkbook enhance security and ensures your money is safe.
      • You can get SMS Alerts and e-statement facilities with ICICI Bank Savings Account.
      • With the Auto Sweep Facility of ICICI Bank, your account can be linked to the Multi Option Deposit MOD account.

      ICICI Bank savings account rates-

      Saving Account Interest Rate
      Minimum Balance
      Titanium Privilege Account 3.00% – 3.50% Rs. 1,25,000
      Gold Privilege Account 3.00% – 3.50% Rs. 50,000
      Silver Savings Account 3.00% – 3.50% Rs. 25,000
      Regular Savings Account 3.00% – 3.50%
      Rs. 10,000 in metro and Urban locations, Rs. 5,000 in Semi-Urban and Rs. 2,000 in Rural locations
      Advantage Woman Savings Account 3.00% – 3.50% Rs. 10,000
      Life Plus Senior Citizens Savings Account 3.00% – 3.50% Rs. 4,500
      Young Stars Savings Account 3.00% – 3.50% Rs. 2,500
      Smart Star Savings Account 3.00% – 3.50% Rs. 2,500
      Pockets Savings Account 3.00% – 3.50% No limit

      ICICI Bank savings account charges

      available to All Cities
      Eligibility
      Resident Indian, >18yrs
      Minimum monthly average balance (MAB)*
      Metro and Urban locations – Rs.10,000
      Semi-urban locations – Rs.5,000
      Rural locations – Rs.2,000
      Gramin locations – Rs.1,000
      Charges for nonmaintenance of minimum monthly average balance (NMMAB)
      Metro/Urban/Semi-Urban/Rural locations :
      Rs. 100 + 5% of the shortfall in required MAB
      Gramin locations: 5% of the shortfall in required MAB
      Cash Transaction Charges
      (Cumulative of Deposit and Withdrawal)
      1) Number Limit (Sum total of deposits and withdrawals)
      4 free cash transactions per month.
      Charges above free limits: Rs 150 per transaction.2) Value Limit (Sum total of deposits and withdrawals) The value limit is inclusive of both Home and Nonhome branch transactions.
      a) Home Branch (Branch where the account is opened or ported)
      Rs 2 lakh. Free per month per account.
      Above Rs 2 lakhs – Rs 5 per Rs 1,000, subject to a minimum of Rs 150
      b) Non-Home branch –
      No charges for cash transactions value up to Rs 25,000 per day.
      Above Rs 25,000 – Rs 5 per Rs 1,000 subject to a minimum of Rs 1503) Third-party Cash transaction (Sum total of deposits and withdrawals) –
      Up to a limit of Rs 25,000 per transaction – Rs 150 per transaction.
      Additional Cash Transaction Charges
      All free cash transactions at ICICI Bank branches or cash deposits done at ICICI Bank Cash Recycler Machines will be charged at Rs 100 (per transaction) for the first two transactions and Rs 125 (per transaction) for any subsequent transaction in case of non-maintenance of applicable minimum Monthly Average Balance (MAB) stipulated in the terms and conditions applicable to your account. This charge will be levied over and above the non–maintenance of MAB charges stipulated in terms and conditions applicable to the account.
      ATM Interchange (Transactions at Non-ICICI Bank ATMs)
      First 3 transactions (inclusive of financial and nonfinancial) in 6 metro locations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad) in a month – Free
      First 5 transactions (inclusive of financial and non-financial)in all other locations in a month – Free
      Maximum of 5 runs free in a month with a cap of 3 free turns in 6 metro locations
      Thereafter, Rs.20 per financial transaction and Rs. 8.50 per nonfinancial transaction
      Transactions at ICICI Bank ATMs / Cash Recycler Machines (cash withdrawals)
      First 5 Financial transactions free in a month; thereafter, Rs.20 per financial transaction
      All Non-Financial transactions free.
      (Financial transaction includes – Cash Withdrawal; Non Financial transactions include – Balance Inquiry, Mini statement & Pin change)
      Issue of DD drawn on ICICI Bank by cheque/transfer

      Rs.50 per D.D. up to Rs.10,000; Rs.5 per thousand rupees or part thereof for DD of more than Rs.10,000, subject to a minimum of Rs.75 and maximum of Rs. 15,000

      For Rural locations – For amounts upto Rs.10,000–Rs.40, For amounts above Rs.10,000 till Rs.50,000–Rs.60, For amounts above Rs.50,000- Rs.5 per thousand rupees or part thereof (maximum of Rs.15,000)

      Statement

      Free monthly e-mail statement

      Free monthly statement to be collected from branch
      Passbook facility available at base branch free of cost
      View and download statement facility available on the

      Debit Card Fees for first Account Holder
      Rs.150 p.a.
      For Gramin locations – Rs.99 p.a.
      Debit Card Fees for joint Account Holder
      Rs.150 p.a.
      For Gramin locations – Rs.99 p.a.
      Debit Card Cash withdrawal limit
      Domestic transaction limit – Daily spending/withdrawal limit: Rs.100,000/ Rs.50,000
      International transaction limit – Daily spending/withdrawal limit: Rs.100,000/ Rs.50,000
      Cheque Books
      Nil for 20 payable-at-par cheque leaves in a year;
      Rs. 20 for every additional cheque book of 10 leaves
      Charges for Multicity cheque payment Nil
      Value Added SMS alert facility
      (For transactions other than specified by regulatory guidelines, sms alerts will be triggered only if the transaction value is greater than Rs.5,000)
      Rs. 15 per quarter
      Outstation cheque collection –through ICICI bank branch locations
      Upto Rs. 5,000 – Rs. 25 per instrument
      Rs. 5,001 to Rs. 10,000 – Rs. 50 per instrument
      Rs. 10,001 to Rs. 1 lakh – Rs 100 per instrument
      Above Rs. 1 lakh – Rs. 200 per instrument
      Outstation cheque collection –through non-ICICI bank branch locations
      Upto Rs. 5,000 – Rs. 25 per instrument
      Rs. 5,001 to Rs. 10,000 – Rs. 50 per instrument
      Rs. 10,001 to Rs. 1 lakh – Rs 100 per instrument
      Above Rs. 1 lakh – Rs. 200 per instrument

      ICICI Bank Savings account products

      • Titanium Privilege Account: ICICI Bank offers interest rates ranging between 3.00% to 3.50% on Titanium Privilege Account. You can open a Titanium Privilege Account in ICICI Bank by depositing Rs. 1,25,000 amount as a minimum balance.
      • Gold Privilege Account: If you have deposited your excess funds in a Gold Privilege Account, you can get interested at 3.00% to 3.50% on your account. This account can be opened by anyone with a minimum age of 18 years.
      • Silver Savings Account: ICICI Bank provides interest rates ranging between 3.00% to 3.50% on Silver Savings Account. The minimum balance requirement to open this account is Rs. 25,000.
      • Regular Savings Account: You can get an interest rate of 3.00% and 3.50% respectively on Regular Savings Account in ICICI Bank. The account can be opened in ICICI Bank by depositing Rs. 10,000 in metro and Urban locations, Rs. 5,000 in Semi-Urban and Rs. 2,000 in Rural locations amount. The debit card available for this account is Smart Shopper Silver Debit Card).
      • Advantage Woman Savings Account: If you have deposited your excess funds in an Advantage Woman Savings Account, you can get an interest rate of 3.00% to 3.50% on your account.
      • Life Plus Senior Citizens Savings Account: You can get an interest rate of3.00% to 3.50% in Life Plus Senior Citizens Savings Account. This account can be opened in ICICI Bank by depositing a minimum amount of Rs. 4,500 after the age of 60 years.
      • Young Stars Savings Account: The interest that you can earn on Young Stars Savings Account is in the range of 3.00% to 3.50% respectively. The debit card available for this product is the young Stars Debit Card
      • Smart Star Savings Account: ICICI Bank provides interest rates of 3.00% to 3.50% on Smart Star Savings Account. Further, to open this Saving Account, the minimum balance requirement is Rs. 2,500. You can open this account at a minimum age of 10 years.

      Documents required and process to open savings account

      • Eligibility criteria- specified age limit, monthly income, Identity proof, PAN card, Aadhar card, address proof, income proof.
      1. Age limit- 21to 60 years
      2. Income certificate -issued from sub-divisional magistrate office
      3. Identity proof- Voter ID card, aadhar card, College ID card (for students)
      4. Monthly income proof 
      5. Form 16 of the latest year
      6. Income tax return
      7. Highest qualification proof 
      8. Bank statement
      9. Proof of business continuation
      10.  You need to collect all the documents to avoid roaming around the bank’s office.
      11. After documentation, you need to search for a person who knows you well. He will be a guarantor for your loan.
      12. Apply online from an e-portal. For instance, Vidhya Lakshmi portal for education loan. Even there will be a separate portal on the bank website for online loan applications.
      13. You may go offline also and apply at your nearest branch.

      Frequently asked questions

      How much interest is charged by ICICI on Savings Account?

      ICICI offers an interest rate of 3.00% to 3.50% on Savings Account.ICICI Bank savings account

      What is the minimum amount required for opening Savings Account in ICICI Bank?

      The minimum amount required for opening Savings Account in ICICI is Rs. 10,000 in metro and Urban locations, Rs. 5,000 in Semi-Urban and Rs. 2,000 in Rural locations.

      What are the balance non – maintenance Charges on ICICI Savings Account?

      The Balance Non Maintenance Charges on Savings Account by ICICI are Rs 100 and 5 percent of the shortfall in required MAB.

      What are the ICICI Bank ATM Transaction charges on Savings Account?

      ICICI ATM Transaction charges on Savings Account are First 5 transactions in a month are Free After that, Rs. 20 per financial transaction and Rs. 8.50 per non-financial transaction.

      How does ICICI calculate interest charged on Savings Account?

      Interest on Savings Account is calculated on a quarterly basis. The following formula is used by ICICI Bank to calculate interest on Savings Account.

      What is the withdrawal limit of the account?

      The withdrawal limit offered in ICICI Bank is Unlimited

      What are the eligibility criteria to open a savings account in ICICI Bank?

      Eligibility criteria for ICICI Bank savings account –

      • Resident Indian above the age of 18 can open a sole or joint account.
      • Foreign nationals and HUF can also open a savings account.
      • Individuals below 18 years can open Young Stars Savings Account.
      • Individuals above 60 years can open a Seniors Club Savings Account.

       

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