ICICI Saving Account

Last Updated 18th Mar 2019

ICICI Bank Savings Account Interest Rate India Mar 2019

ICICI Bank Regular Savings Account
Interest Rate Upto Rs. 50 Lakh : 3.50%
Above Rs. 50 Lakh : 4.00%
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Minimum Account Balance Rs. 10,000 in metro and urban locations, Rs. 5,000 in semi urban and Rs. 2,000 in rural locations
Debit Card Smart Shopper Silver Debit Card
  • Free Anywhere Banking: Online Bill Payments, round the clock customer care and Phone Banking
  • Nomination Facility: one nominee held singly/jointly and can be changed during the subsistence of the account
  • Portability: transfer of your Savings Account from one branch to another branch of ICICI Bank
  • Money Multiplier Facility: Maximum liquidity and maximum returns by creation of a linked FD ensures higher rate of interest and makes your money multiply

Compare Savings Account Offers of All Banks

ICICI Online Saving Account

India's largest private sector bank, ICICI was originally promoted in 1994 by ICICI Limited. It offers a wide range of the most efficient and world class banking products and financial services to corporate and retail customers through a variety of delivery channels and through its group companies.

Saving Account in ICICI – Benefits

You get the following benefits while opening Savings Account with ICICI

Nomination facility Yes
Passbook facility Yes
Chequebook facility Yes
Issuance of Debit Card Yes
Internet Banking Yes
Mobile Banking Yes
Fund Transfer Yes
DD Pay Orders Yes

ICICI Saving Account – charges

Balance non maintenance charges : Rs 100 and 5 percent of the shortfall in required MAB
ATM Charges: First 5 transactions in a month are Free After that, Rs. 20 per financial transaction and Rs. 8.50 per non financial transaction

ICICI Savings Account

ICICI Bank offers an interest rate of 3.50% - 4.00% p.a. ICICI Bank also offer accounts to meet the specific requirements of salaried, women, kids and senior citizens.

Product Name Minimum Age Minimum Balance Required
Regular Savings Account 18 years Rs. 10,000 in metro and urban locations, Rs. 5,000 in semi urban and Rs. 2,000 in rural locations
Titanium Privilege Account 18 years Rs. 1,25,000
Gold Privilege Account 18 years Rs. 50,000
Silver Savings Account 18 years Rs. 25,000
Advantage Woman Savings Account 18 years Rs. 10,000
Life Plus Senior Citizens Savings Account 60 years Rs. 4,500
Young Stars Savings Account 1 day Rs. 2,500
Smart Star Savings Accoount 10 years Rs. 2,500
Pockets Savings Account No limit
Basic Savings Bank Account- The ICICI Bank Edge 18 years Nil

ICICI Savings Account Products

Regular Savings Account

Convenient at home banking through online facilities

This account is for resident Indians of 18 years of age and above

Features of Regular Savings Account

  • Free Anywhere Banking: Online Bill Payments, round the clock customer care and Phone Banking
  • Nomination Facility: one nominee held singly/jointly and can be changed during the subsistence of the account
  • Portability: transfer of your Savings Account from one branch to another branch of ICICI Bank
  • Money Multiplier Facility: Maximum liquidity and maximum returns by creation of a linked FD ensures higher rate of interest and makes your money multiply

Debit Card Offered : Smart Shopper Silver Debit Card

Cash Withdrawal Limit : Unlimited

Balance Non Maintenance Charges : Rs 100 and 5 percent of the shortfall in required MAB

Titanium Privilege Account

Simple, Convenient and elite banking for you and your family.

This account is for resident Indians of 18 years of age and above

Features of Titanium Privilege Account

  • Avail 40 percent discount on annual locker rentals
  • Complete waiver of DD or PO charges
  • Free Anywhere Banking: Online Bill Payments, round the clock customer care, Phone Banking
  • One nominee held singly or jointly. It can be changed during the subsistence of the account
  • Portability: transfer of your Savings Account from one branch to another branch of ICICI Bank
  • Money Multiplier Facility: Maximum liquidity and maximum returns by creation of a linked FD ensures higher rate of interest and makes your money multiply

Debit Card Offered : Titanium Privilege Debit Card

Cash Withdrawal Limit : Unlimited

Balance Non Maintenance Charges : Rs. 100 and 2 percent of the shortfall in required MAB or Rs. 500 whichever is lower

Gold Privilege Account

Myriad products and services for convenient banking.

This account is for resident Indians of 18 years of age and above

Features of Gold Privilege Account

  • Avail 20 percent discount on annual locker rentals
  • Waiver of DD or PO charges of up to 1.5 lacs per day
  • Free Anywhere Banking: Online Bill Payments, round the clock customer care, Phone Banking
  • One nominee held singly or jointly. It can be changed during the subsistence of the account
  • Portability: transfer of your Savings Account from one branch to another branch of the bank
  • Money Multiplier Facility: Maximum liquidity and maximum returns by creation of a linked FD ensures higher rate of interest and makes your money multiply

Debit Card Offered : Gold Privilege Debit Card

Cash Withdrawal Limit : Unlimited

Balance Non Maintenance Charges : Rs. 100 and 2 percent of the shortfall in required MAB or Rs. 500 whichever is lower

Silver Savings Account

Best added benefits for convenient banking.

This account is for resident Indians of 18 years of age and above

Features of Silver Savings Account

  • Get 15 percent discount on annual locker rentals
  • Waiver of DD or PO charges of up to Rs. 1 lac per day
  • Free Anywhere Banking: online bill Payments, round the clock customer care, phone banking
  • One nominee held singly or jointly. It can be changed during the subsistence of the account
  • Portability: transfer of your Savings Account from one branch to another branch of the bank
  • Money Multiplier Facility: Maximum liquidity and maximum returns by creation of a linked FD ensures higher rate of interest and makes your money multiply

Debit Card Offered : Smart Shopper Silver Debit Card

Cash Withdrawal Limit : Unlimited

Balance Non Maintenance Charges : Rs. 100 and 5 percent of the shortfall in required MAB or Rs. 500 whichever is lower

Advantage Woman Savings Account

Exclusive discounts and cashbacks on skill building, health and lifestyle. They also have offers that help women look after themselves and their family better.

This account is for resident Indians of 18 years of age and above

Features of Advantage Woman Savings Account

  • 50 percent discount on first year locker rentals
  • Preferential rates on Home Loan
  • Cashbacks and discounts on Skill Building from Manipal ProLearn, Ajivasan Music Academy and Image Consultants
  • Flat discounts on Health and Wellness from Growfitter, Thyrocare, Obino and Welcome Cure
  • Shopping, lifestyle and travel offers from Myntra, Purplle, Byju's and Byond Travels

Cash Withdrawal Limit : Unlimited

Balance Non Maintenance Charges : Rs. 100 and 5 percent of the shortfall in required MAB

Life Plus Senior Citizens Savings Account

This account helps senior citizens manage their day to day banking transactions independently and with extra ease.

This account is for resident Indian Individual sole or joint account, Foreign national and Hindu undivided family HUF customers, above the age of 60 years

Features of Life Plus Senior Citizens Savings Account

  • Higher interest rates on term deposits
  • Free SMS alert Facility
  • Free Anywhere Banking: Online Bill Payments, round the clock customer care, Phone Banking
  • One nominee held singly or jointly. It can be changed during the subsistence of the account
  • Portability: transfer of your Savings Account from one branch to another branch of ICICI Bank
  • Money Multiplier Facility: Maximum liquidity and maximum returns by creation of a linked FD ensures higher rate of interest and makes your money multiply

Debit Card Offered : Special Senior Life Plus Debit card

Cash Withdrawal Limit : Unlimited

Balance Non Maintenance Charges : 5 percent of the shortfall in required MAB or Rs. 100 whichever is lower

Young Stars Savings Account

Open and operate the account to plan your child's need, right from a young age.

This account is designed for resident Indian minors upto 18 years of age

Features of Young Stars Savings Account

  • The guardian can open and operate the account on behalf of the minor
  • Standing Instructions Facility to debit money from parents account to the youngstars account
  • Money Multiplier Facility: Maximum liquidity and maximum returns by creation of a linked FD ensures higher rate of interest and makes your money multiply

Debit Card Offered : Young Stars Debit Card

Cash Withdrawal Limit : Rs. 1,000 or Rs. 2,500 or Rs. 5,000 for shopping and cash withdrawal each day

Balance Non Maintenance Charges : 5 percent of the shortfall in required MAB

Smart Star Savings Accoount

Inculcate the habit of savings and spending judiciously in your minor aged 10 to 18 years, who can open this account and manage it independently.

This account is specifically for minors above the age of 10 years. Precisely, the age group of 10 to 18 years

Features of Smart Star Savings Accoount

  • Smart Star Savings Account with Guardian Consent has a debit transaction limit of Rs. 2 Lacs in a financial year
  • Smart Star Savings Account without Guardian Consent has a debit transaction limit of Rs. 50,000 in a financial year
  • Personalised cheque book and cheques can be issued by the child
  • Pre paid Mobile recharge facility

Debit Card Offered : Personalised debit card

Cash Withdrawal Limit : Rs. 5,000

Balance Non Maintenance Charges : 5 percent of the shortfall in required MAB

Pockets Savings Account

Pockets is a 'Digital Bank' with a mobile first interface. It offers a digital wallet to store your money and use it according to your needs.

This account is for resident Indians of 18 years of age and above

Features of Pockets Savings Account

  • Pockets wallet comes with a 16 digit VISA pre paid card which can be used to recharge mobile, send money, shop anywhere, pay bills and much more
  • Can be funded through Net Banking, NEFT, linking your ICICI account or any banks Debit card

Debit Card Offered : Visa PrePaid Card, virtual and physical, both available

Cash Withdrawal Limit : The limit is Rs. 20,000 per month and Rs. 5,000 per transaction

Balance Non Maintenance Charges : There are no penalties or charges if you could not deposit money into a goal every month

Basic Savings Bank Account- The ICICI Bank Edge

Open a Zero balance Savings Account and avail best services.

This account is for resident Indians of 18 years of age and above

Features of Basic Savings Bank Account- The ICICI Bank Edge

  • Basic Savings Account opened under Pradhan Mantri Jan Dhan Yojana PMJDY
  • Ensures access to financial services and timely and adequate credit to the excluded sections i.e. the low income groups
  • No charges on free personalised RuPay debit card, Internet banking, free chequebook
  • One nominee held singly or jointly. It can be changed during the subsistence of the account

Debit Card Offered : ATM cum Debit Card

Cash Withdrawal Limit : Rs. 10,000

Balance Non Maintenance Charges : None

Documents Required

ICICI Bank requires the following documents to open a Savings Account

  • Signed application form
  • Income Tax PAN Copy
  • Identity Proof: Driving License, PAN, Passport VoterID
  • Address Proof: Utility Bill, Property Tax Bill. Any other ID and address proof issued through a competent authority are also valid
  • In case of Young Stars Account, Id and address proof of guardian, Photograph of guardian, Birth proof of minor, Declaration from guardian, and in case of Smart Stars plan, photograph of minor, declaration from Minor, declaration along with ID proof of guardian are required

Frequently Asked Questions on ICICI Bank Savings Account

How much interest is charged by ICICI on Savings Account?

ICICI offers an interest rate of 3.50% to 4.00% on 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 Quarterly basis. The following formula is used by ICICI Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does ICICI Bank offer Debit card to the account holder?

Yes, various debit cards are offered, differing according to the product. Some of the popular savings account products of ICICI Bank with the type of debit card offered are listed in the table below.

Regular Savings AccountSmart Shopper Silver Debit Card
Titanium Privilege AccountTitanium Privilege Debit Card
Gold Privilege Account Gold Privilege Debit Card
Silver Savings AccountSmart Shopper Silver Debit Card
Life Plus Senior Citizens Savings AccountSpecial Senior Life Plus Debit card
Young Stars Savings AccountYoung Stars Debit Card
Smart Star Savings AccoountPersonalised debit card
Pockets Savings AccountVisa PrePaid Card, virtual and physical, both available
Basic Savings Bank Account- The ICICI Bank EdgeATM cum Debit Card

Interest rate on all SBI deposits products listed in the table above is 3.50% to 4.00%

What is the withdrawal limit of the account?

The withdrawal limit offered in ICICI Bank is Unlimited

What is the eligibility criteria to open a savings account in ICICI Bank
  • This account is for resident Indians of 18 years of age and above
ICICI News - Mar 2019
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