ICICI Bank provides various savings accounts to meet the demands of various types of investors. The ICICI bank savings account interest rate might range between 3.0% and 3.50% per annum. The interest is calculated every day. However, the payments are made quarterly. Here is all about the ICICI savings account in detail, including its features, perks, interest rates, and varieties.
ICICI Bank Savings Account Interest Rate
| On Balances (in ₹) | Rate of Interest (% p.a.) |
| For end of day balance below ₹ 50 Lakhs | 3.00 |
| For end of day balance ₹ 50 Lakhs and above | 3.50 |
Characteristics of the ICICI Bank Saving Account
Minimum Account Balance
In metro and metropolitan cities, the minimum account balance for ICICI savings accounts is INR 10,000. In addition, the minimum balance for semi-urban locations is INR 5,000 and INR 2,000 for rural places.
ATM Card Service
ICICI provides debit cards for all of its savings accounts. However, depending on the type of savings account, the type of card, its perks, and its features vary.
Fund Transfer
It is simple to transfer funds with ICICI Bank. You can also transfer funds to any other bank account using UPI, RTGS, IMPS, and NEFT.
How to Open an ICICI Bank Saving Account Online
- Go to the ICICI bank’s website and select ‘Savings Account’ from the Accounts tab.
- Before continuing, learn about the many types of savings accounts and become familiar with their perks, restrictions and laws.
- Select ‘Open an Account Instantly.
- Please provide the following information: To proceed, enter your mobile number, email address, and PAN number.
- Verify your Aadhar information with the OTP issued to your registered mobile number.
- Accept the terms and conditions in order to open the account.
- Finally, complete your Video KYC and begin enjoying the benefits of your fully working ICICI digital savings account.
ICICI Bank Savings Account Features & Benefits
- 3-in-1 Online Trading, Demat and Savings Account
- Live your dreams with a pre-approved Loan and instant disbursal
- Instant payment & fund transfer solutions at your fingertips
- Spending just got easier with ICICI Bank Credit Cards
- Explore offers of your choice
Documents Required
- Account opening paperwork duly completed and signed.
- Newest passport-size photo (s).
- Driving License, Aadhar Card, Voter ID, PAN Card, Senior Citizen Card, or any other Government ID Card (Anyone.)
Read More: ICICI Bank Home Loan Interest rate & application process for home loan of Rs 10 lakh
- Address proof consists of an Aadhaar card, a passport, utility bills, and a bank statement with a cheque (Anyone.)
- In the case of a youngster under the age of ten, ID proof of the guardian who will handle the account on his or her behalf.
Who can Opt for the ICICI Bank Savings Account
- Except for ‘No Frills’ and ‘HUF’ account holders, new or existing Resident Indian ICICI Bank Savings Account holders.
- Parents, children, spouses, grandparents, grandkids, siblings, and in-laws are examples of family members.
- A Family Banking relationship with ICICI Bank can be formed with a minimum of two members and a maximum of six members.
Charges of the ICICI Bank Savings Account
| Debit Card Charges | Rs. 0 – Rs. 150 |
| SMS Banking | Rs. 15 |
| ATM Interchange Fees | Rs. 0 – Rs. 21 |
ICICI Bank Savings Account FAQs
A savings account holder can replace his or her nominee by submitting a declaration of change in the necessary form.
Anyone above the age of 18 is eligible to apply for a joint account.
Yes, You could also apply for a savings account by filling out the savings account opening form found on the Bank’s website.
Yes, A minor could be named as the beneficiary of a savings account. However, a guardian should be appointed for him or her until the age of majority.
Source & Reference: https://groww.in/savings-account/icici-bank-savings-account