ICICI Bank offers a simple and convenient process to open a savings account. You can complete the ICICI Bank savings account opening online through Aadhaar-based eKYC and video verification. For those who prefer offline mode, ICICI savings account opening is also available at any nearby branch. This guide covers the full process, features, charges, and eligibility to help you open your ICICI Bank savings account with ease.
Overview of ICICI Savings Account Opening Methods
Method
Description
ICICI Saving Account Opening Online
Visit ICICI’s official site → Select account type → Fill Aadhaar & PAN → Complete Video KYC
ICICI Bank Saving Account Opening (Offline)
Visit nearest ICICI Bank → Submit form & documents → Account activated after verification
ICICI Bank Savings Account Opening Online
Here is a step-by-step guide to follow for ICICI Bank savings account opening online:
Visit the official website and click on ‘Savings Account’ from the ‘Accounts’ tab
Select the option ‘Open an Account Instantly’
Enter all your necessary details including email address, contact number, and PAN
You will receive an OTP sent to your registered mobile number. Enter the OTP to verify your Aadhaar information
Tick the terms and conditions checkbox to agree to open an account
Complete the video KYC to avail benefits of the ICICI bank savings account
ICICI Bank Savings Account Opening Offline
Here is a step-by-step guide on how to open an ICICI bank savings account offline:
Visit ICICI Bank's nearest branch. Approach the executive for a savings account opening form
Fill out the form with all necessary details carefully to avoid rejection
Once the form is filled up, the executive will contact you for further verification of documents
Upon successful verification, you need to deposit a certain amount, based on the minimum balance requirement
Your savings account is now active and the bank executive will provide you with a bank account passbook along with a debit card to make transactions easy and hassle-free.
ICICI Bank Savings Account Eligibility Criteria
If you are looking to open a savings account in ICICI Bank, it is mandatory to meet the following eligibility criteria:
Indian residents, HUFs, and foreign nationals must be aged 18 years and above
Savings accounts are allowed to be accessed by minors as well
Senior citizens aged 60 years and above
ICICI Bank Savings Account Documents Required
While opening a savings account, you should keep some of your documents ready. Below are the documents required for the ICICI savings account opening:
Application letter received from National Population register
ICICI Bank Savings Account Features
Savings accounts are a perfect investment choice for all account holders. Like other banks, ICICI Bank also provides several exclusive features with the opening of savings accounts. Here is a detailed overview of those features:
Instant Account Opening
ICICI Bank offers its customers to open a savings account instantly following a few simple steps.
Thus, opening a savings account has become easier for account holders.
Easy Transactions
Users can send and receive payments through a savings account.
This can be carried out through ATM/Debit card and NetBanking. Users thus need not depend on cash for carrying out transactions, especially during bill payments.
Bill Payment
These days, ICICI Bank provides a facility for paying bills through a savings account.
Thus, account holders can pay all bills directly from their savings accounts.
Debit Card
Once you open a savings account, ICICI Bank, similar to other banks, sends a debit card to the mentioned address.
An ATM or debit card not only allows one to access the account but also to make payments on time, whether at the store or through any online platform. It also allows you to access debit cards on the iMobile Pay app.
Exclusive Cash Back and Offers
You can get cash back instantly by paying bills or making any purchase online.
This thereby also helps you to save.
ICICI Bank Savings Account Charges
The different charges imposed on ICICI bank savings account holders are as follows:
Particulars
Charges
Cash Transaction Charges
1) Number Limit
Per transaction, Rs. 150 is charged Post 4, no cash transactions are charged each month2)Value Limit
Rs 5 per Rs. 1,000 a) Non-Home Branch Rs. 5 per Rs. 1,000 if the transaction value is above Rs. 25,000 b) Third-party transaction charge Rs. 150 per transaction
ICICI Bank ATMs Transactions
Rs. 21 per financial transaction After 5 transactions, the charge is free
Issue of DD by cheque/transfer in ICICI bank
Rs. 50 charged per DD up to Rs. 10,000 For Rural locationsRs. 40 charged per DD for amounts more than Rs. 10,000 to Rs. 50,000
Debit Card Charges
Rs. 150. Rs. 99 charged for Gramin locations
Cheque Books
No charge for 25 cheques in a year. Thereafter, Rs. 2 charged per leaf
Non-maintenance charges for minimum monthly average balance (NMMAB)
6%, if the balance is less than the required monthly average balance or Rs. 500, which is lower
Note: All these charges are applicable for all kinds of ICICI savings accounts except ICICI Bank Private Banking/Wealth Management
ICICI Bank Savings Account Limit
There is no upper limit for account holders to deposit money in a savings account. Thus, there prevails complete flexibility to deposit money as you want. Accordingly, you can avail several benefits from the interest provided on your deposited amount.
Helpline Number
If you have any queries or issues related to your savings account, approach 'ask iPal' on the ICICI bank website as well as the mobile app. Furthermore, you can contact the 1800-1080 customer care number or reach out to the relationship manager. Or else, you can physically visit your nearest ICICI bank branch to resolve all your queries.
Opening an ICICI Bank savings account is easy with online and offline options available. Make sure to review the eligibility, required documents, and charges before starting your ICICI savings account opening process.
What is an ICICI bank savings account for senior citizens?
Senior citizens aged 60 years and above are eligible to open a savings account in ICICI Bank. This savings account allows all senior citizens to carry out transactions without standing in a queue.
What is an ICICI bank savings account for women?
ICICI Bank launched a savings account for women with attractive features and benefits. This account is designed specifically for women seeking independence and in search of their own identity. Women thus can save for the future by depositing money at present with competitive rates of interest.
Can I apply for an ICICI Bank Savings Account online?
Yes, you can apply for a savings account with ICICI Bank through online mode.
Who is eligible for being added as a joint account holder of an ICICI Bank Savings Account?
Couples, business partners, and family members willing to share financial responsibility are eligible for adding as joint account holders of a savings account in ICICI Bank.
How many nominees can I have?
For opening an ICICI savings account, you can have one individual only as a nominee.
Can a minor be made a nominee in my ICICI Savings Account?
Yes, a minor can also be made a nominee in an ICICI savings account.
Is a PAN card mandatory to open a savings account?
No, a PAN card is not essential if you are willing to open a savings account in ICICI Bank. Moreover, the issuance of PAN cards in India is not considered a valid proof of identity in recent days.
What is the minimum balance in an ICICI Bank savings account?
After opening an ICICI savings account the minimum balance requirement in metro and urban locations is Rs. 10,000 while for semi-urban and rural locations it is Rs. 5,000.
Can I open a zero-balance account in ICICI Bank?
Yes, you can open a zero balance account in ICICI Bank following the eligibility criteria. ICICI Bank Basic Savings Account operates similarly to a zero balance account
What are the requirements to open an account in ICICI Bank?
Identity proof, address proof are the main requirements to open an account at ICICI Bank.
About the Author
Adnan Ali
Senior Content Writer
I am a curious person, and Finance is at the top of my list of interests. With more than 5 years of experience in fintech, I am an expert in lending, investment and personal finance. I believe the Devil lies in details, so I dig a lot before writing anything and armed my writing pieces with figures and facts. Read more
Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.
Cleartax is a product by Defmacro Software Pvt. Ltd.
