Want the best savings account? Then ICICI Bank is for you. Here is quick info on ICICI Bank Savings Account Interest Rate, ICICI zero balance Savings Account opening, Types, Debit Cards, deposits, benefits, charges, features, Minimum Balance, limits, and More.
ICICI Savings Account
ICICI stands for Industrial Credit and Investment Corporation of India. ICICI Bank offers a wide range of banking and financial services With a wide range of 5,900 branches and 16,650 ATMs. ICICI Bank is also working in investment banking, life, non-life insurance, venture capital, and asset management sectors.
ICICI Bank is available in the United States, China, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai, and South Africa. ICICI Bank Provides Services like Savings Accounts, Current Accounts, Fixed Deposits, Credit Cards, Personal Loans, Business loans, Home Loans, Car Loans, Debt Management Services, Mutual Funds, Salary Accounts, insurance, Securities, Private Banking, etc.
Also, ICICIGroup runs Subsidiaries like ICICI Prudential Life Insurance, ICICI Prudential Mutual Fund, ICICI Lombard, ICICI Securities, ICICI Home Finance Company, ICICI Direct. As of January 2024, ICICI Bank’s total market capitalization is $89.58 Billion, and it is India’s second-largest private bank after HDFC Bank.
ICICI Bank has become a well-known name in the private sector banks in India. ICICI Bank offers 7 to 9 types of savings accounts for its customers. ICICI Bank’s savings account interest rate starts from 3% and goes up to 3.50%. Excluding a zero balance account, In ICICI Bank’s savings account, you must need to maintain a minimum monthly average balance.
So let us know about ICICI Bank’s savings accounts opening process, zero balance account, Digital Savings Account Types, Interest Rate, Minimum Balance, features, charges, benefits, limit, Debit Card, and account closure process.
ICICI Bank Savings Account minimum balance
ICICI Bank has many types of Savings Accounts and they all have different Minimum Monthly Average balances. But generally, The minimum balance amount ranges from as low as Rs.2,500 to Rs.1,25,000/- depending on account type. Also, there are zero balances like Basic Savings Bank Deposit Account (BSBDA) and Campus Power Savings Account in which you don’t need to maintain a Monthly average balance.
ICICI Bank Savings Account interest rate
Before opening a Savings Account in ICICI Bank, let us know what interest rate ICICI Bank gives you. So ICICI Bank gives you interest ranging from 3.00% to 3.50% annually, this interest rate is based on the amount you deposited. ICICI Bank provides interest quarterly. For more details, you can refer to the table given below.
| Balance | Rate of Interest (2024) |
| Day End Deposits Less Than Rs.50 lakh | 3.00% p.a |
| Day End Deposits Rs.50 lakh and above | 3.50% p.a |
ICICI Bank Savings Account zero balance
ICICI Bank’s Basic Savings Bank Deposit Account (BSBDA) and Campus Power Savings Account are a zero-balance account and you don’t need to maintain a Monthly Average Balance with a 3.00% to 3.50% Interest Rate Per Annum, Internet Banking, a Free passbook, email statements, and a Free debit card. For more details check out account types.
Read More: Kotak Mahindra Bank Savings Account Minimum Balance, Interest Rate, Charges, zero-balance
ICICI Bank Savings Account types
ICICI Bank offers 7 to 9 types of savings accounts like Regular Savings Accounts, Gold Privilege Savings Accounts, Silver Savings Accounts, Titanium Privilege Savings Accounts, Pocket Savings Accounts, Basic Savings Accounts, Young Stars accounts, Advantage Women’s Savings Accounts, and Senior Citizens Savings Account for customers.
Let’s know about ICICI Bank’s savings account Features, Eligibility, Minimum Balance, Initial Funding, Interest Rate, and more.
1. Regular Savings Account
ICICI Bank’s Regular Savings Account is a standard easy-access account with a 3.00 to 3.50% interest rate and daily bill payments, FD requests, and balance inquiries. This savings account needs to maintain an average monthly balance of Rs. 10,000. Also comes with features like NetBanking, Mobile Banking, Debit Cards, online payments, etc.
Features: Internet Banking, Mobile Banking, email statement, Titanium Debit Card, Free Cash Withdrawal at ATMs Of Any Other Bank, Exciting Offers And Discounts.
Eligibility: Citizen of India, The applicant should be 18 years or older, Hindu undivided family (HUF), KYC documents Like an Aadhaar Card, PAN Card, Passport, Voter ID Card, Driving Licence, and address proofs.
Initial Account Opening Funding: Nil.
Monthly Average Balance: Metro / Urban: Rs.10,000, Semi-Urban: Rs.5,000, Rural: Rs.2,500, Gramin locations – Rs.1,000.
Debit Card: Titanium Debit Card (Issuance Fee: ₹0, Annual Fee: ₹150)
Interest Rate: 3.00% to 3.50% Per Annum.
Limits: First Five Transactions In The Month Are Free. Thereafter, Charges Are Applicable.
2. Basic Savings Bank Deposit Account (BSBDA)
ICICI Bank’s Basic Savings Bank Deposit Account is a zero-balance account wherein not required to maintain an average monthly balance with a 3.00 to 3.50% interest rate. This Account is specially Designed to help you save money consistently and Opened Under Pradhan Mantri Jan Dhan Yojana (PMJDY) with features like digital Internet Banking, a Free passbook, email statements, and a free Rupay Debit Card facility.
Features: Internet Banking, Free passbook, email statements, free cash deposits, Free Rupay debit card with Access to 15000+ ATMs across India.
Eligibility: Citizen of India, The applicant should be 18 years or older, Hindu Undivided Family (HUF), KYC documents Like an Aadhaar Card, PAN Card, Passport, Voter ID Card, Driving Licence, and address proofs.
Initial Account Opening Funding: Nil.
Monthly Average Balance: Nil.
Debit Card: Rupay debit card (Issuance Fee: Free)
Interest Rate: 3.00% to 3.50% Per Annum.
Limits: Debit Card Daily spending and withdrawal limit: Rs 10,000.
3. Gold Privilege Savings Accounts
ICICI Bank Gold Privilege Savings Accounts come with more benefits, gold privileges, and services. This account offers you higher interest rates, Free Gold privilege Debit Cards, and higher cash withdrawal limits. In this account, you need to maintain a monthly average balance of Rs. 50,000.
Features: Internet Banking, free monthly e-statement, Free cheque books, Free passbook, A free Titanium debit card, safe deposit lockers, Free SMS alert facility.
Eligibility: Citizen of India, The applicant should be under 18 years old, KYC documents Like an Aadhaar Card, PAN Card, Passport, Voter ID Card, Driving Licence, and address proofs.
Initial Account Opening Funding: Nil.
Monthly Average Balance: ₹50,000.
Debit Card: Gold privilege debit card (Issuance Fee: ₹0)
Interest Rate: 3.00% to 3.50% Per Annum.
4. Silver Savings Accounts
ICICI Bank’s Silver Savings Account is a customer-centric beneficial account with Anywhere Banking service. This account comes with premium Banking Services, cheaper locker fees, cancellation of DD/PO charges, unlimited cash withdrawal at any bank’s ATM, and SMS alerts. You need to maintain a minimum balance of Rs. 25,000.
Features: UPI, RTGS, NEFT Transaction, Personalized Pocket Debit Card, SMS alerts, cancellation of DD/PO charges, cheaper locker fees, Money multiplier facility available, free email statements, Free passbook, unlimited cash withdrawal at any bank’s ATM.
Eligibility: Citizen of India, The applicant should be 18 years or older, KYC documents Like an Aadhaar Card, PAN Card, Passport, Voter ID Card, Driving Licence, and address proofs.
Initial Account Opening Funding: Nil.
Monthly Average Balance: ₹25,000.
Debit Card: Personalized Pocket Debit Card
Interest Rate: 3.00% to 3.50% Per Annum.
5. Titanium Privilege Savings Accounts
ICICI Bank’s Titanium Privilege Savings Accounts will provide you and your family with exclusive banking benefits. This Savings Account needs an average monthly balance of Rs. 1,00,000. This Savings Account comes with a free ICICI Debit Card, money multiplier service, and discounts on annual locker rentals.
Features: Internet and Mobile Banking, Free cheque books, free Titanium Privilege debit card, personal accident insurance of Rs. 10 Lakh, Air accident insurance of Rs. 40 Lakh, A dedicated relationship manager, Low rates on home, personal, and education loans.
Eligibility: Citizen of India, The applicant should be 18 years or older, Hindu Undivided Family (HUF), KYC documents.
Initial Account Opening Funding: Nil.
Monthly Average Balance: Rs. 1,00,000.
Debit Card: free Titanium Privilege debit card, a free ICICI Debit Card.
Interest Rate: 3.00% to 3.50% Per Annum.
6. Campus Power Savings Account
ICICI Bank Campus Power Savings Account is designed for students. This Savings Account also provides a wide range of financial services that will help you to efficiently manage money. Students can manage their money during their academic journey and even beyond into the professional world with No Minimum Balance required.
Features: Internet Banking, Complimentary Credit Cards, Digital Banking, Air Accident Insurance of ₹50,000, Free UPI, NEFT & RTGS transactions, Easy Investment Options for stocks, and mutual funds, and Exciting Offers on your favorite brands.
Eligibility: Citizen of India, Student special, Hindu undivided family (HUF), KYC documents Like an Aadhaar Card, PAN Card, and address proofs.
Initial Account Opening Funding: Nil.
Monthly Average Balance: Nil.
Debit Card: Customized Pocket Debit Card
Interest Rate: 3.00% to 3.50% Per Annum.
7. Young Stars accounts
ICICI Bank Savings Max Account is specially designed for children to start saving very early age. This Savings Account needs A parent or a guardian. This savings account needs a minimum Monthly Average Balance of Rs 2,500. A parent should open This account for their children.
Features: Internet Banking, Free Titanium Debit Card, Free personalised cheque book, Funds transfer facility.
Eligibility: Citizen of India, The applicant should be under 18 years, a Minor above the age of 10 to 18 years can open a Smart Star Account, Hindu undivided family (HUF), KYC documents Like an Aadhaar Card, PAN Card, and address proofs.
Initial Account Opening Funding: Nil.
Monthly Average Balance: Rs. 2500.
Debit Card: Free Titanium Debit card
Interest Rate: 3.00% to 3.50% Per Annum.
Limits: Daily ATM cash withdrawal limit of Rs 1,000 to Rs 5,000, 4 free cash transactions per month.
8. Advantage Women’s Savings Accounts
ICICI Bank Advantage Women’s Savings Accounts is designed for women only with exclusive perks. This Savings Account also provides Free UPI, NEFT & RTGS transactions, unrestricted cash withdrawals, and a debit card. You need to maintain a minimum Monthly Average Balance of Rs 10,000.
Features: Internet Banking, unrestricted cash withdrawals, MasterCard World Debit Card, Free passbook, Unlimited ATM Transactions, and exclusive perks.
Eligibility: Citizen of India, The applicant should be 18 years or above, Women only, Hindu undivided family (HUF), KYC documents Like an Aadhaar Card, PAN Card, and address proofs.
Initial Account Opening Funding: Nil.
Monthly Average Balance: Rs. 10,000.
Debit Card: MasterCard World Debit Card (Issuance Fee: ₹150, Annual Fee: ₹150)
Interest Rate: 3.00% to 3.50% Per Annum.
9. Senior Citizens Savings Accounts
ICICI Bank Senior Citizens Savings Accounts is designed for Senior Citizens above 60 years old. This Savings Account also provides Free UPI, NEFT & RTGS transactions, a Free Smart Shopper Silver Debit card, and Unlimited ATM Transactions. You need to maintain a minimum Monthly Average Balance of Rs 4500.
Features: Internet Banking, Free 25 cheque leaves, Free Smart Shopper Silver Debit card, Free passbook, Unlimited ATM Transactions, Free UPI, NEFT & RTGS transactions.
Eligibility: Citizen of India, The applicant should be 60 years or above, Hindu undivided family (HUF), KYC documents Like an Aadhaar Card, PAN Card, and address proofs.
Initial Account Opening Funding: Nil.
Monthly Average Balance: Rs. 4500.
Debit Card: Smart Shopper Silver Debit card (Issuance Fee: ₹0)
Interest Rate: 3.00% to 3.50% Per Annum.
Read More: HDFC Savings Account Charges, Interest Rate, Minimum Balance, types
Document Required for Open Saving Account in ICICI Bank
If you are a citizen of India, 18 years or above, A Minors above 10 years are also eligible, Hindu undivided family (HUF), then you can open a savings account in ICICI Bank. But for this, you need some KYC documents and address proof for account opening.
But if you want to Open a Digital Account, then you only need to PAN Card, an Aadhaar card with a registered mobile number, and Video KYC, That’s it.
Required Document for Open Saving Account:
- Latest passport-size photographs
- Aadhaar card
- Voter ID
- Passport
- Address Proof
- PAN Card
- Proof of Age
- Letter from the National Population Register
- Job card issued by NREGA, signed by a State Government Officer
ICICI Bank Savings Account Opening Process
You can open a savings account in ICICI Bank via online or offline mode. You can go to the nearest ICICI Bank branch or just open the ICICI Bank web portal or App to open your savings account.
Open ICICI savings account online:
- Go on the ICICI Bank web portal.
- Choose an account type ‘Savings Account’.
- Click on ‘Open an Account Instantly’, and submit your details like name, address, phone number, Aadhaar number, PAN, Branch, city, etc.
- Verify your Aadhar Card with the OTP to your registered mobile number.
- Complete your Video KYC and you will have instant access to your ICICI digital savings account.
ICICI Bank Savings Account Opening Offline:
- Just Visit the branch of ICICI Bank.
- Fill out the opening application form.
- Attach your identity proof and address documents, and deposit the minimum amount.
- Verify your documents.
- Once it’s approved, your account will be activated.
ICICI Bank Savings Account statement
It is time to move on to E-Statement, ICICI Bank’s new and existing users can easily download e-statements online.
ICICI Bank’s Web Portal:
- Log in to ICICI Bank’s net banking portal.
- Click on the ‘Accounts’ option and select “View Detailed Statement”.
- Select the statement period.
- Then click on “Download”.
On ICICI Bank iMobile App:
- Log in to the ICICI Bank iMobile app.
- Select the ‘Detailed Statement’, then Enter your statement period.
- Then click on “Proceed”.
- Select ‘View PDF’ to download your statement.
ICICI Bank Savings Account charges
ICICI Bank is operating in the private sector with huge customer base. To maintain their services they need to cut healthy amount of charges from customers. Please read the Pricing & Charge documents carefully before opening an account in a bank.
| Charges | Prices |
| Passbook | Free |
| Duplicate Passbook | ₹100 |
| Cheque Book | Rs.100 per 25 leaves |
| Debit card issuance charges | ₹0 – 150 |
| Replacement of debit card | ₹200 |
| Account Closer Charges | ₹500 |
* These charges may be different with time.
ICICI Bank Savings Account features
ICICI Bank has some Premium features for Savings Accounts that can increase seamless banking experience.
- Online Account opening process with no paperwork.
- ICICI Bank provides A secure and complete banking solution.
- Digital convenience through the iMobile Pay app.
- You can transfer funds, pay bills, and view your transaction history in just a few clicks.
- Free Net Banking and Mobile Banking.
- online banking experience 24×7.
- Advanced security measures to ensure that your savings are always secure.
- Widest ATM networks across the country.
- Providing you with quick and convenient access to your money.
- Men, Women, senior citizens, and children can own accounts.
- Enjoy seamless banking transactions anywhere in the world.
- Discounts and Rewards on online shopping, cinema tickets, food, and travel.
- The customer service team is always available for concerns.
Read More: Axis Bank Savings Account Types, Interest Rate, Minimum Balance & More
ICICI Bank Savings Account closure form
Yes, you can close your ICICI Bank account offline by Visiting your nearest ICICI bank branch. nearly all banks do not allow you to close an account online, but ICICI Bank allows.
For Online account closure:
- Go to the “Service Requests” section.
- Select the option to close your account.
- Fill out the account closure form with the reason for closure.
- Submit the closure request online and within 7 days your account will be closed.
- You will get a closure SMS and Email.
For Offline account closure:
- Visit your nearest ICICI branch.
- After filling out the account closure form with all the necessary details.
- Bring the closure form with your original passbook, debit card, and identity proof documents like an Aadhar card, PAN card, Voter ID card, or passport to finalize the process.
- Clear any outstanding dues on your account.
- After successful verification, your account will be closed within 7 days.
If you close your ICICI Account between 1 to 12 months then you should pay Charges of Account closure. But, if an account is closed after 1 year or within 30 days of account opening, then you don’t need to pay any charges. Here are the Savings Account Closing Charges.
Here are ICICI Bank’s Savings Account Closure Charges:
- Up to 1 Month – No Charge
- 1 to 12 months – ₹ 500/-
- Beyond 12 months – No Charge.
Services Provide By ICICI Bank
ICICI Bank Provides Services like Savings Accounts, Current Accounts, Fixed Deposits, Credit Cards, Personal Loans, Business loans, Home Loans, Car Loans, Debt Management Services, Mutual Funds, Salary Accounts, insurance, Securities, Private Banking, etc.
For More Details Follow: ICICI Bank
FAQs
Which bank is better ICICI or HDFC for a savings account?
HDFC Bank is the best choice for opening a savings account Because HDFC Bank has maintained and enhanced accessibility to banking services. But ICICI Bank has the poorest customer support and least secured. Overall, HDFC Bank clearly wins.
What types of Savings Accounts are offered by ICICI Bank?
ICICI Bank has Regular Savings Accounts, Gold Privilege Savings Accounts, Silver Savings Accounts, Titanium Privilege Savings Accounts, Basic Savings Accounts, Pocket Savings Accounts, Young Stars accounts, Advantage Women’s Savings Accounts, and Senior Citizens Savings Accounts.
What is the withdrawal limit of Women’s Savings Account in ICICI Bank?
The Women’s Savings Account has a daily ATM withdrawal limit of Rs 25,000 and a daily transaction limit of Rs. 50,000.
What is the minimum balance requirement for an ICICI Bank Zero Balance Savings Account?
You don’t need to pay the Initial funding or maintain an average minimum balance for the ICICI Bank Zero Balance Savings Account. Otherwise, the minimum balance amount is between Rs.2,500 to Rs.1,25,000/-.
What is the age limit to open the Senior Citizens Savings Accounts?
To apply for the Senior Citizens Savings Accounts, the applicant must be at least 60 years old or above with an easy banking facility.
What is the ICICI Bank Regular Savings Account’s interest rate?
The ICICI Bank Regular Savings Accounts have a 3.00% to 3.50% interest rate based on the daily amount you deposit. ICICI Bank provides interest quarterly.
Is there a minimum balance requirement for opening a Savings Account in ICICI Bank?
Yes, ICICI Bank Savings Accounts have different Minimum balances between Rs.2,500 to Rs.1,25,000 excluding zero-balance savings accounts.