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ICICI Bank Savings Account

ICICI Bank Savings Account is not just a simple savings account but also offers numerous benefits like Netbanking, Mobile Banking, rewards on debit card usage, investment options that can be easily navigated through this account, choice of account number, personalized debit card and many cashback options. ICICI Bank savings account can be easily opened and operated at your comfort.

What is a Savings Account?

Icici Bank Savings Account

A savings account is the simplest type of account available to operate with a bank. It is normally used for saving money and keeping it safe while earning some interest on it. Most banks today offer different types of savings account to cater to different needs. Also, it has become quite easy to open an account and manage financial transactions through it.

There is a minimum balance amount that needs to be maintained in the account. The interest rate and service charges differ from bank to bank. There are schemes wherein the withdrawals have a monthly limit.

Savings account offers low returns on the money deposited and hence cannot be considered as an investment option. It is lower than a fixed term deposit or any other investment product. Savings account offers maximum liquidity and quick accessibility to finance when you need it.

Features and Benefits of ICICI Bank Savings Account

ICICI Bank savings accounts come with many unique features.

  • Operate the savings account with ease and accessibility through Mobile Banking
  • 24x7 Banking possible with Internet Banking facility – transfer funds, pay bills, shop, book movie tickets/travel arrangements
  • Self-service branches offer Touch Banking that are available on Sunday as well
  • Financial Planning & Investments can be done easily for Public Provident Fund, Atal Pension Yojana and My Money
  • ICICI Bank offers an option of choosing your own account number to cherish special moments like wedding anniversary, birthdays, graduation etc.
  • Systematic saving option allows us to invest in a specific time period to save up for a special purchase, holiday, gadgets and the like.
  • Personalized debit card with your choice of image on it
  • ICICI Bank offers up to 45% returns on the savings account by way of exclusive offers and cashbacks and Internet banking

Types of ICICI Bank Savings Accounts

ITSA – Investment and Tax Savings Account

  • One can register for Mutual Fund investments at the time of account opening
  • Auto investment in ELSS (Tax Saving Mutual Fund) through SIP
  • One can invest in many schemes of Mutual Funds through Money Coach Tool on iMobile app
  • Savings on tax through deductions of up to Rs. 1.5 lakh as per IT Act 1961
  • ICICI Bank offers special privileges on the Expressions Debit Card
  • There are no charges levied on the non-maintenance of savings account minimum balance
  • Minimum lock in period of 3 years and complimentary insurance cover through debit card
  • Zero surcharge on fuel purchases through the debit card
  • Zero liability protection
  • One can enjoy high spending limits on a daily basis and complimentary airport lounge access
  • There are two types of Accounts under ITSA - ITSA Gold and ITSA Silver
  • Under the ITSA Gold type of account, one gets free gold privilege card, transaction limit of Rs. 1,25,000 on a daily basis, 20% discount on locker rent, free unlimited withdrawal at any bank ATM, waiver of DD/PO charge for up to Rs.1.5 lacs a day and money multiplier facility to earn more interest
  • Under the ITSA Silver type of account, one gets a free smart shopper silver debit card, daily transaction limit of Rs. 1lac, 15% discount on annual rent for lockers, free unlimited cash withdrawal at any bank ATM, Waiver of DD/P.O. charges of up to Rs. 1 lac on a daily basis, money multiplier facility to earn higher rate of interest

Titanium Privilege Savings Account

  • One can enjoy Privilege Banking benefits for oneself as well as family members
  • Free Titanium Privilege Debit Card that offers higher daily cash withdrawal and spend limit
  • Unlimited cash withdrawal transaction at bank ATM
  • 40% discount on annual rental for lockers
  • Waiver offered on Trading Account opening fee of Rs. 975 and first year Demat Annual Maintenance charges of Rs. 500
  • High interest rate through Money Multiplier scheme

Gold Plus Savings Account

  • One can enjoy the dual benefit of liquidity and interest rate of Fixed Deposit in this type of savings account
  • Auto sweep-out facility is available wherein higher interest rate can be earned by moving extra amount beyond the limit from savings account to Fixed Deposit (above Rs. 75000)
  • Auto sweep-in facility helps in enjoying liquidity while earning high returns with fixed deposit
  • Exclusive privilege banking zones across branches
  • Free Gold Privilege Debit card with higher withdrawal limits
  • Unlimited cash withdrawals from other bank ATMs
  • 20% discount on locker rentals
  • Minimum average monthly balance needs to be maintained at Rs. 50,000

Silver Savings Account

  • One gets a Smart Shopper Silver Debit card and can withdraw cash from any bank ATM
  • Unlimited cash withdrawals can be made on this card
  • Free Anywhere Banking facility by ICICI Bank
  • 15% discount on annual locker rentals
  • One can earn more through the Money Multiplier scheme

Regular Savings Account

  • This savings account is available for Resident Individual either sole or joint account, foreign national or HUF above 18 years
  • Routine transactions like bill payments and FD creation can be done through this account
  • Smart Shopper Silver Debit Card is available with withdrawal of cash from any ATM
  • Earn more interest through the Money Multiplier scheme
  • Free internet and mobile banking facility

Advantage Woman Savings Account

  • Cashback of Rs. 750 per month on dining, entertainment and jewellery through usage of Debit card
  • Free unlimited access to all bank ATMs
  • 50% discount on first year locker rentals
  • Zero Balance account if recurring deposit of minimum Rs. 3000 per month is opened for purchasing Tanishq jewellery
  • Preferential rates on Home Loan
  • Comprehensive premium scheme on life insurance, Accidental death and Critical Illness cover
  • High interest rate can be earned by setting a balance limit above which money will get converted into FD
  • Lifestyle benefits like 25% discount on Myntra and 15% on Purpple

Advantage Woman A/c Regular,

Monthly Average Balance (₹10,000)

Advantage Woman A/c Silver

Monthly Average Balance (₹25,000)

Advantage Woman A/c Gold Monthly

Average Balance (₹50,000)

Advantage Woman A/c Titanium Monthly

Average Balance (₹1,25,000)

Benefits:
  • Cashback up to ₹ 750 per month on Debit Card usage.
  • Free unlimited access to all banks' ATMs
  • 50% off on first year locker rentals

Benefits:

  • Cashback up to ₹ 750 per month on Debit Card usage.
  • Free unlimited access to all banks' ATMs
  • 50% off on first year locker rentals and 15% thereon
  • Free anywhere banking across all branches

Benefits:

  • Cashback up to ₹ 750 per month on Debit Card usage.
  • Free unlimited access to all banks' ATMs
  • 50% off on first year locker rentals and 20% thereon
  • Priority Processing at branches
  • Exclusive zones at branches

Benefits:

  • Cashback up to ₹ 750 per month on Debit Card usage.
  • Free unlimited access to all banks' ATMs
  • 50% off on first year locker rentals and 40% thereon
  • Priority processing at branches
  • Nil charges for DD drawn on ICICI Bank by cheque/ transfer
  • Dedicated Relationship Manager
  • Exclusive Privilege Banking Zones in branches

Seniors Club Savings Account

  • One can earn FD interest rate on account balance that exceeds Rs. 75000
  • Invest in a range of Government supported senior citizen schemes
  • One can convert savings into FD through Money Multiplier scheme
  • Savings on annual locker rentals
  • Discount offers on debit card
  • Offers on movie tickets, health offers and discounts on specially curated products for senior citizens

Young Stars Account

  • An Account for your children wherein they can operate
  • Free Debit card to enable children to make purchases through POS machine. Limits of rs 2500 to Rs. 5000 for shopping and cash withdrawal
  • Standing Instruction Facility to debit from Parents’ account to the children’s account
  • Money Multiplier facility is available

3-in-1 Account

  • Under this scheme, one can open an online trading, demat and bank account instantly
  • One can view live share prices, trade on NSE, BSE, futures, invest in Mutual Funds, IPOs and Insurance through this account
  • Brokerage charges include depository charges each time shares are debited from the account
  • This account can be accessed on web, mobile, desktop or call and trade facility

ICICI Bank Savings Account Minimum Balance

The minimum balance required in savings accounts with ICICI Bank differs from account to account.

Easy Receive Account:

  • Metro and Urban locations - Rs.10, 000 
  • Semi-urban and Rural locations - Rs.5, 000
  • Waived off if at least one inward remittance is received in the last three months.  
  • Charges for non-maintenance of minimum monthly average balance (NMMAB):

Metro / Urban locations - 

  • MAB between - Rs.5, 000 to Rs.10, 000 - Rs.350 per month.
  • MAB - Less than Rs.5, 000 - Rs.450 per month.

Semi Urban / Rural locations - 

  • MAB between – Rs.2500 to Rs.5, 000 - Rs.300 per month.
  • MAB - Less than Rs.2, 500 - Rs.400 per month.

ICICI Bank Savings Account Interest Rate

ICICI Bank interest rates on savings account are offered at 3.50% for end of the day account balance less than Rs. 50 lac and 4% for end of day account balance of Rs. 50 lacs and above

ICICI Bank Savings Account: FAQs

1. What is iMobile?

It is the mobile banking application developed by ICICI Bank that can be downloaded and activated on your phone. One can check balance, transfer funds, pay bills, recharge mobile phone etc.

2. Is PAN card mandatory to open a savings account?

Yes, the applicant needs to produce a PAN account to open a savings bank account.

3. Can I use any debit card to avail cashback offers?

No, this special offer is available only on Expression Debit Card used for non-cash debit transactions.

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