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ICICI Savings Account Interest Rates

ICICI Savings Account Interest 2020-21

Last Updated 01st Dec 2020

RBI keeps Repo Rate unchanged at 4%

Saving Account Interest Rate
Titanium Privilege Account 3.00% - 3.50%
Gold Privilege Account 3.00% - 3.50%
Silver Savings Account 3.00% - 3.50%
Regular Savings Account 3.00% - 3.50%
Advantage Woman Savings Account 3.00% - 3.50%
Life Plus Senior Citizens Savings Account 3.00% - 3.50%
Young Stars Savings Account 3.00% - 3.50%
Smart Star Savings Accoount 3.00% - 3.50%
Pockets Savings Account 3.00% - 3.50%
Basic Savings Bank Account- The ICICI Bank Edge 3.00% - 3.50%
Apply for Savings Account

ICICI Bank Savings Accounts Interest Rate

ICICI Bank offers an interest rate ranging between 3.00% to 3.50% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With ICICI Bank Savings Account youth and minors can get additional benefits on their Savings Account.

Features

ICICI Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on ICICI Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of ICICI Bank savings account are:

  • It offers interest rates from 3.00% to 3.50% p.a. You can easily access ICICI Bank Savings Account anywhere through a large network of branches and ATMs.
  • If you want to transfer funds from ICICI Bank Savings account to any other bank account, you can do it through modes such as RTGS, IMPS, NEFT and UPI facilities.
  • To maintain ICICI Bank Savings account, you require a minimum balance of Rs. 10,000 in metro and Urban locations, Rs. 5,000 in Semi Urban and Rs. 2,000 in Rural locations.
  • ICICI Bank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with ICICI Bank Savings Account.
  • With Auto Sweep Facility of ICICI Bank, your account can be linked to Multi Option Deposit MOD account.

ICICI Savings Account Rates

Saving Account Interest Rate Minimum Balance
Titanium Privilege Account 3.00% - 3.50% Rs. 1,25,000
Gold Privilege Account 3.00% - 3.50% Rs. 50,000
Silver Savings Account 3.00% - 3.50% Rs. 25,000
Regular Savings Account 3.00% - 3.50% Rs. 10,000 in metro and Urban locations, Rs. 5,000 in Semi Urban and Rs. 2,000 in Rural locations
Advantage Woman Savings Account 3.00% - 3.50% Rs. 10,000
Life Plus Senior Citizens Savings Account 3.00% - 3.50% Rs. 4,500
Young Stars Savings Account 3.00% - 3.50% Rs. 2,500
Smart Star Savings Accoount 3.00% - 3.50% Rs. 2,500
Pockets Savings Account 3.00% - 3.50% No limit
Basic Savings Bank Account- The ICICI Bank Edge 3.00% - 3.50% NIL

Banks Offering NetBanking Services

ICICI Savings Account Products

  • Titanium Privilege Account: ICICI Bank offers interest rates ranging between 3.00% to 3.50% on Titanium Privilege Account.You can open a Titanium Privilege Account in ICICI Bank by depositing Rs. 1,25,000 amount as minimum balance.
  • Gold Privilege Account : If you have deposited your excess funds in a Gold Privilege Account , you can get interest at 3.00% to 3.50% on your account. This account can be opened by anyone with a minimum age of 18 years .
  • Silver Savings Account: ICICI Bank provides interest rates ranging between 3.00% to 3.50% on Silver Savings Account. The minimum balance requirement to open this account is Rs. 25,000.
  • Regular Savings Account: You can get interest at 3.00% and 3.50% respectively on Regular Savings Account in ICICI Bank. The account can be opened in ICICI Bank by depositing Rs. 10,000 in metro and Urban locations, Rs. 5,000 in Semi Urban and Rs. 2,000 in Rural locations amount. The debit card available for this account are Smart Shopper Silver Debit Card.
  • Advantage Woman Savings Account: If you have deposited your excess funds in a Advantage Woman Savings Account, you can get interest at 3.00% to 3.50% on your account.
  • Life Plus Senior Citizens Savings Account: You can get interest at 3.00% to 3.50% in Life Plus Senior Citizens Savings Account. This account can be opened in ICICI Bank by depositing a minimum amount of Rs. 4,500 after an age of 60 years.
  • Young Stars Savings Account: The interest that you can earn on .Young Stars Savings Account is in the range of 3.00% to 3.50% respectively. The debit card available for this product is Young Stars Debit Card
  • Smart Star Savings Accoount: ICICI Bank provides interest rate at 3.00% to 3.50% on Smart Star Savings Accoount. Further, to open this Saving Account, the minimum balance requirement is Rs. 2,500. You can open this account at a minimum age of 10 years.

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FAQs

How much interest is charged by ICICI on Savings Account?

ICICI offers an interest rate of 3.00% to 3.50% 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.

Titanium Privilege AccountTitanium Privilege Debit Card
Gold Privilege Account Gold Privilege Debit Card
Silver Savings AccountSmart Shopper Silver Debit Card
Regular 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 ICICI Bank deposits products listed in the table above is 3.00% to 3.50%.

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?

Eligibility criteria for ICICI Bank savings account -

  • Resident Indian above the age of 18 can open a sole or joint account.
  • Foreign nationals and HUF can also open a savings account.
  • Individuals below 18 year can open Young Stars Savings Account.
  • Individuals above 60 years can open Seniors Club Savings Account.

ICICI News - Dec 2020
  • 2020-11-25 : ICICI launched Mine banking app for millennials
    The bank has announced India first dedicated banking app for millennial clients ranging in age from 18 to 35 yrs. The idea is named ICICI Bank Mine inspired by Millennial Network. It includes an instant savings account, a new-look smartphone app with a revamped user experience that offers -personal finance management platform and investing advice with the assistance of Sqrrl. Other features are curated credit and debit cards, instant personal loans & overdrafts, and a 24x7 branch with social engagement space.
  • 2020-11-06 : ICICI Bank introduced banking stack for millennial customers
    ICICI Bank launched a comprehensive banking programme known as ICICI Bank Mine ICICI Bank Mine, for millennial customers, in the age bracket of 18 years to 35 years called. It offers an instant savings account, a feature-driven iMobile application that offers investment guidance and curated credit and debit card. In addition to this, it is will also offer instant personal loans and overdrafts, and an experiential branch with social engagement space.
  • 2020-11-03 : New charges and fees by ICICI Bank
    Effective November 1, 2020, ICICI Bank will charge Rs 50 as a convenience fee on its customers for every such transaction done on bank holidays and between 6:00 pm and 8:00 am on working days. Further, The bank will charge a convenience fee if the cash deposit in the cash acceptor/recycler machines exceeds Rs 10,000 per month either as a single transaction or multiple transactions.
  • 2020-07-09 : Banks exceed digital transaction target set for 2019-20
    The government notified that 17 banks received an overall good rating for their performance on digital transactions in 2019-20, with ICICI Bank topping the list of 56 banks and closed wallets. The result is the indication of ameliorating banking services like providing retail and business loans digitally with ease.
  • 2020-07-07 : ICICI Bank surpassed 1 million users on WhatsApp platform
    ICICI Bank crossed a mark of 1 million users on its WhatsApp banking platform. ICICI Bank had introduced WhatsApp banking services three months ago to enable its retail customers to undertake banking requirements from their home in the wake of the coronavirus pandemic.
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