ICICI Bank Savings Account Interest Rate
ICICI Bank Limited is an Indian Private bank. It offers a wide range of banking products and financial services. It is also the second largest bank in India in terms of assets. ICICI Bank provides wide range of banking services and facilities to its customers.
|Name||ICICI Bank Limited|
|Type||Private Development Finance Institution|
|Headquarters||Mumbai, Maharashtra, India|
|Founded||5 January 1994|
ICICI Bank Savings Account Interest Rates
A savings account is a type of account which is always available for the customers for their benefits. A savings account is the simplest type of account available to operate with a bank. In simple terms it is used for saving money and keeping it safe while earning some interest in it for further use. ICICI Bank has multiple types of savings account that offers various value added benefits. It offers different types of savings account with different types of investor needs. ICICI Bank savings account interest rate ranges from 3.00% up to 3.505 p.a. The interest rate and service charges differ from bank to bank. In this article we are going to cover about ICICI Bank savings account, its interest rates, eligibility, benefits and many more.
Features and Benefits of ICICI Bank Savings Account
There are various features and benefits of ICICI Bank savings account. Some of them are discussed below:
- Internet banking facilities are available
- Financial planning and investments can be done easily
- Personalized debit card with your choice of image on it
- Provides systematic saving option
- Enable users to choose their preferred account number
- Users can avail 45% return on saving account through internet banking, cashback, and other offers
- ATM Card facilities are available
- ICICI Bank offers SMS alerts and e-statement facility
Types of ICICI Bank Savings Account
Following are the types of savings account offered by ICICI Bank:
- Insta Save Account
Insta Save Account is a type of Aadhaar based savings account that can be opened online. In this savings account you will get the facility of debit card, smart shopper sliver debit card and many more. It offers exciting offers on restaurants, online shopping and travel.
- Titanium Privilege Account
This account will give privilege banking benefits for you and your family members. Features like free ICICI Debit card, nomination facility and money multiplier facility will provide you an easy and unique banking experience.
- Regular Savings Account
This regular savings account is an array of privileges and benefits. Get access to money multiplier facility, smart shopper silver debit card and other VISA benefits by opening this regular savings account.
- Young Stars Account
This Young Stars Saving Account is for younger generation above the age of 10. They can open this account and operate the Young Stars Account all by themselves. Also you can use this account to plan your child’s need.
- Senior Citizen Savings Account
This savings account is a special savings account designed for customers above the age of 60. Furthermore the scheme offers higher interest rates, greater banking ease and more. With this account senior citizens can carry out their banking transactions without any hassles.
- Advantage Woman Savings Account
The Advantage Woman Savings Account is designed specifically for modern, financially independent women taking into account their various needs. This account is loaded with special benefits like unlimited cash withdrawals, debit card for shopping to manage their household expenses and many more.
- Basic Savings Bank Account
This savings account is a zero balance savings account with no charges on the ICICI debit card. Basic Savings Account are operated under Pradhan Mantri Jan Dhan Yojana (PMJDY). Account holders will get free passbook, a free personalized debit card and free cheque.
Also Read: HDFC Bank Savings Account
ICICI Bank Savings Account Interest Rates
ICICI Bank interest rates on savings account are offered at 3.50% with account balance less than Rs 50 lakh and 4% with account balance of Rs 50 lakh and above.
|ICICI Bank Savings Account||ICICI Bank Interest Rates||Minimum Balance Required|
|ICICI Insta Savings Account||Ranges from 3% – 3.50%||INR 10,000|
|Titanium Privilege||3.00% – 3.50%||INR 1,25,000|
|Regular Savings Account||3.00% – 3.50%||INR 10,000 in Metro) INR 5,000 (in Semi Urban) INR 2,500 (in Rural Areas)|
|Young Stars Account||3.00% – 3.50%||INR 2,500|
|Seniors Club Savings Account||3% – 3.50%||INR 4,500 – Rs 125,000|
|Advantage Woman Savings Account||3% – 3.50%||INR 10,000|
|Basic Save Account||3% – 3.50%||INR 5,000 – INR 10,000|
|Silver Savings Account||3.00% – 3.50%||INR 25,000|
|Defence Salary Account||3.00% – 3.50%||NIL|
|Family Savings Account||3.00% – 3.50%||NIL|
How to Open ICICI Bank Savings Account
Customers can open their savings account by visiting their nearest bank branch or through online by visiting the official website. of the bank. You can also open your savings account by calling on ICICI toll-free number – 1800 200 3045. Below are the steps given to open savings account through online procedure.
- Visit the ICICI website.
- Under the ‘Accounts Type’ select ‘Savings Account’.
- Click on Open an Account Instantly.
- Fill up the application form and provide all your personal details such as Mobile number, Email ID, PAN Number etc.
- Verify the OTP sent to your registered mobile number.
- Verify your Aadhar information.
- Accept terms and condition to open the account.
- At the final step, complete your video KYC and start enjoying the benefits of your account.
Before opening ICICI Bank savings account you must meet certain certain eligibility criteria:
- One must be a resident of India
- Age should be above 18 years
- One must have a valid Aadhar Card number linked with your mobile number
- PAN Card number is also mandatory
Below mentioned are the documents required to open an ICICI savings account
- ID Proof
- Address proof
- Aadhar Card
- Two Passport size photographs
- Account opening form, or a printout of the filled account opening form
- For minor citizens below ten years, ID proof of the guardian who will operate the account.
Fees and Charges
|Types of Savings Account||Debit Card Fees||SMS Alert Charges||ATM Interchange Fees|
|Advantage Woman Savings Account||Rs 150 p.a. and Rs 99 for Gramin locations||Rs 15 per quarter||Free|
|Minor Citizens||Free||INR 15 per quarter||Rs 21 for financial and Rs 8.50 for non-financial after the free transactions|
|Regular Savings Account||INR 150 p.a. and INR 99 for Gramin locations||INR 15 per quarter||INR 21 for financial INR 8.50 for Non-financial after free transactions|
|Basic Savings Bank Account||Free||Free||Free|
|Silver Savings Account||NIL||NIL||INR 21 for financial INR 8.50 for Non-financial after free transactions|
|Defence Salary Account||NIL||NIL||NIL|
1. Does ICICI Bank offers Internet Banking facility on savings account?
Ans: Yes, ICICI Bank offers internet banking as well as mobile banking facilities for their savings account.
2. Is Aadhar Card mandatory to open any savings account?
Ans: Yes, Aadhar card is a mandatory requirement for opening a saving account at any bank.
3. Can I apply for ICICI Bank savings account through online?
Ans: Yes, one can open savings account through both online and offline mode.
4. What is iMobile Pay?
Ans: iMobile pay is an ICICI Bank mobile application development app that can be downloaded at your smartphones. One can check their balance, statements, transfer funds, can pay bills, recharge their mobile and many more through this app.
5. Can I access my savings account through iMobile application?
Ans: Yes, you can access your ICICI Bank savings account through iMobile application. You can also perform other banking activities through this mobile application.
6. Whom can I include as Joint Applicants?
Ans: You can include anyone as a joint applicant, but except minor citizen who is less than 18 years can’t be included as joint applicant.
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