ICICI Bank Savings Account

With an ICICI Bank savings account, you can unlock several attractive features and easy banking facilities while earning interest on your hard-earned money. When you choose ICICI Bank as your savings account partner, you can rest assured of your fund's safety and get access to quick cash withdrawal facilities, a locker, and other privileges.

The ICICI savings account interest rate is computed daily and paid in quarterly basis.

What Are the Different Types of Savings Accounts from ICICI Bank?

ICICI Bank offers a range of savings accounts, considering the requirements of various customers. You can receive an ICICI Bank savings account interest rate of 3.00% to 3.50% per annum upon opening any of the following savings accounts:

  •         Basic Savings Bank Account

The basic savings account of ICICI Bank is operated under Pradhan Mantri Jan Dhan Yojana. These are zero-balance savings account that comes with a non-chargeable ICICI debit card. When you open this PMJDY zero balance account, you can avail yourself a free personalised RuPay Debit card, cheque and passbook.

  •         Silver Savings Account

With a Silver Savings Account, you can avail added benefits. These benefits include an accessible 'Anywhere Banking' facility, DD/PO charges waiver, lower locker rental, an SMS alerts facility, etc. ICICI Bank offers this customer-centric scheme to enhance the user experience in many ways.

  •         Titanium Privilege Account

As the name suggests, ICICI’s Titanium Privilege account offers you and your family banking benefit privileges. Apart from that, you can also avail free debit card, annual locker rentals at a discounted price, a money multiplier and nomination facility and much more.

  •         Regular Savings Account

This bank also offers multiple facilities for their regular savings account. Upon opening a regular savings account from ICICI Bank, you can access a smart shopper silver debit card, money multiplier facility, VISA benefits and other facilities.

  •         Gold Privilege Banking

The ICICI Gold Privilege Banking comes with exclusive money-saving features. The ICICI Bank savings account minimum balance for this scheme is ₹50,000. You can avail a range of additional services upon opening this account apart from the regular savings account features. You can get access to a free gold privilege debit card with unlimited cash withdrawal facilities from any bank ATM.

  •         Young Stars Account

Minors above 10 years of age are eligible to open Young Stars Account from ICICI Bank. Besides, they can operate this account by themselves. ICICI has facilitated exclusive standing instruction to debit funds from the child's parent's account to their Young Stars Account. This account help plan your child's future needs perfectly.

  •         Pockets Savings Account

As the name suggests, a Pocket Savings Account acts as a virtual pocket to save your money. It is like a 'Digital Bank' where you can store and use your money whenever needed. You can create a pocket account from an ICICI Bank and instantly use it for sending and receiving money.

  •         Senior Citizens Savings Account

With a Senior Citizens Savings Account, elderly individuals above 60 years of age can use this account to perform hassle-free banking transactions. This ICICI Bank savings account is specially designed for senior citizens.

  •         Advantage Woman Savings Account

An Advantage Woman Savings Account offers you exclusive offers and added benefits. You can get access to a zero balance facility, a debit card to carry out household expenses, unlimited cash withdrawals and more.

  •         3-in-1 Account

When you open 3-in-1 savings account from ICICI Bank, you get a Demat account, online trading and bank account facilities. With this savings account, you can invest in BSE, NSE, mutual funds, insurance, IPOs and others. Besides you can also track your share prices through this account. You can access this account from mobile, desktop, web, trade or call facility.

What Are the Features of ICICI Bank Savings Account?

ICICI savings accounts are loaded with exceptional features to enhance the account holders' user experiences. Here are some of the mention-worthy features of an ICICI Bank savings account:

  •         You can easily access the savings account via mobile banking facilities.
  •         With ICICI savings accounts, you can easily plan for My Money, Public Provident Fund and Atal Pension Yojana funds.
  •         ICICI offers a 24/7 internet banking facility for their savings account holders.
  •         When you choose the ICICI savings account, you can avail a return of 45% through cashback, internet banking and other offers.
  •         You can avail touch banking through the self-service branches only on Sundays.
  •         ICICI allows their account holders to choose account numbers as per their preferences.
  •         You can get access to systematic saving options through an ICICI savings account.
  •         You can also choose your preferred image for a personalised debit card from ICICI Bank.

Steps to Open an ICICI Bank Savings Account Via Online

You can easily open an ICICI Bank savings account by visiting the official website and following some easy steps. All you need to do is fill up the form carefully and complete the KYC.

Here are the easy steps that you can follow to open ICICI Bank savings account online:

  1. Log in to the ICICI Bank website or open the iMobile Pay app from your mobile or laptop
  2. You will get an 'Open an Account Instantly' option. Click on it
  3. Enter your name, birth date, contact number, address, PAN, email ID, etc.
  4. Enter your Aadhaar number and use the Aadhaar-based OTP feature to authenticate it.
  5. Complete the video KYC process by providing the correct Aadhaar and PAN number
  6. Your online savings account will be created

Steps to Open an ICICI Savings Account Offline

You can also open an ICICI savings account offline by visiting the nearest branch. Here are the steps to follow for a hassle-free account opening:

  1. Get the savings account opening form and fill it out with the necessary details
  2. You need to self-attest your Aadhaar and PAN card copies with the form
  3. Always keep the original PAN and Aadhaar card to get through the verification process
  4. While submitting your form, provide a demand draft, cheque, or cash deposit for your new savings account
  5. Your account will be opened instantly after processing the application
  6. After opening your savings account successfully, you will receive savings account welcome kit that includes a chequebook, debit card, MITC and other documents.

What Are the Documents Needed to Open a Savings Account at ICICI Bank?

ICICI Bank savings account interest rate, minimum balance, eligibility criteria, etc., are convenient for the account holders. All you need to do is produce essential documents to complete the account opening process seamlessly. Here are some of the must-have documents to open an ICICI Bank savings account:

  •         Signed and duly filled out account opening form
  •         Your ID proof which can include an Aadhaar card, PAN card, driving license, Voter ID, Senior Citizen card or any other ID card provided by the Government.
  •         Your recent passport-sized photographs
  •         Your address proof which can include a passport, bank statement, Aadhaar card, utility bills, etc.
  •         If the account holder is a minor below 10 years, the bank will need the guardian's ID proof who will operate the account on behalf of the minor.

Final Thoughts

To open an ICICI Bank savings account is the best way to save and secure your money. However, if you want to maintain a penalty-free savings account, ensure maintaining an average minimum balance in the account. The ICICI Bank savings account minimum balance varies depending on the bank's location. For instance, the minimum balance for an urban area is ₹10,000, and for rural areas, it is as low as ₹2,000.

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