ICICI Bank Savings Account

ICICI bank savings accounts offer attractive interest rates between 2.75% and 3.25% along with various benefits to their customers, making them one of India's best savings account schemes. ICICI bank savings account scheme features numerous options for a wide range of customers, such as salaried individuals, families, senior citizens, students and kids, etc.

Opening an ICICI Bank savings account ensures convenient banking with attractive interest rates, multiple variants, and easy online account access. Whether you want a zero-balance option or one of the tailored options, ICICI offers customised solutions for different customer needs.

Read on to learn more about ICICI Bank savings schemes, their types of products, minimum balance, eligibility criteria and more.

Table of Contents:

• ⇾ ICICI Bank Savings Account Opening Online
• ⇾ ICICI Bank Zero Balance Savings Account
• ⇾ ICICI Bank Savings Account Types
• ⇾ ICICI The Family 360 Savings Account Scheme
• ⇾ The Campus Power Savings Account
• ⇾ Senior Citizen Savings Account Scheme
• ⇾ ICICI Wealth Management Savings Account Schemes
• ⇾ Young Star savings account
• ⇾ Smart Star savings account
• ⇾ 3-in-1 savings account scheme
• ⇾ ⁣ICICI Private Banking Savings Account Scheme or Savings Account for Corporate
• ⇾ ICICI Bank Savings Account Interest Rate
• ⇾ Eligibility Criteria for Opening an ICICI Savings Account
• ⇾ Benefits and Features of ICICI Savings Account
• ⇾ Fees and Charges on ICICI Savings Account
• ⇾ Frequently Asked Questions

ICICI Bank Savings Account Opening Online

Opening an ICICI bank savings account is simple and easy. It grants access to a wide range of banking services. Customers can opt for regular or zero-balance savings accounts based on their financial preferences.

Here are the steps on how to open a savings account instantly:

1. Visit the ICICI Bank Savings Account website or use the iMobile app.
2. Choose your desired type of account and click on “Apply Online”.
3. Enter your
1. Full name
2. PAN
3. Pincode
4. Mobile number
5. OTP
4. Submit Aadhaar and PAN details for online KYC.
5. Complete video KYC (mandatory).
6. Your account will be live within a few minutes and ready for you to use.

In case of doubts or troubles regarding the account, you can contact ICICI Bank customer care at 1800 1080.

ICICI Bank Zero Balance Savings Account

The ICICI Basic Savings Bank Deposit Account (BSBDA) or ICICI zero balance savings account offers a zero balance facility, allowing customers to maintain an account without worrying about minimum balance penalties. This is a part of the PM Jan Dhan Yojana, launched to aid people who cannot afford a regular savings bank account.

Currently, ICICI offers BSBDA only via offline branch visits. I.e., you cannot fully open a pure BSBDA account online.

The process to apply for an ICICI Bank zero balance account and open any other Savings account offline is the same. You can follow the steps given below to do so:

1. Visit the nearest ICICI Bank Branch.
2. Approach the customer relationship manager and ask about opening a BSBDA or zero-balance account.
3. They will provide you with a form in which you have to fill in your details.
4. Fill in your mobile number, Aadhaar, and PAN details as specified.
5. Complete KYC by submitting Aadhaar/PAN and address proof physically (for pure BSBDA accounts, this is mandatory).
6. The account gets activated after verification. It typically takes about 24-48 hours past submission.

Best suited for students, low-income individuals, and rural customers.

ICICI Bank Savings Account Types

ICICI Bank provides a variety of savings accounts to match different lifestyle needs, including premium, salary, senior citizen, and student accounts. Each account has specific features like waivers of fees, free debit cards, and insurance coverage.

ICICI bank savings accounts offer 4 types of savings accounts, apart from the BSBDA, under which various specific savings account schemes are available.

ICICI Bank Savings Account Schemes:

• Family 360 scheme
• Campus power savings account
• Senior Citizen scheme
• Senior Citizen Savings Account
• Family 360 for Senior Citizen savings account
• Pension Savings Scheme savings account
• Wealth Management scheme
• Young Star savings account
• Smart Star savings account
• 3-in-1 savings account scheme
• Private Banking scheme
• Savings account for Indian residents
• Savings account scheme for NRI
• Savings account scheme for Business

ICICI The Family 360 Savings Account Scheme

The savings scheme is focused on creating an account that offers flexibility to maintain account balance across Personal, Business & Family Accounts. Bonus features include

• Premium credit cards, travel cards, and family debit cards are offered, even for minors.
• Complimentary accident insurance coverage is provided up to ₹40 lakh.
• Select debit and credit cards include complimentary airport lounge access.
• Home and car loans have reduced processing fees.
• Education loans are available for both domestic and overseas studies at competitive interest rates.
• No account opening charges and no annual maintenance fee in the first year for Demat accounts.

1. The Campus Power Savings Account

This is a savings account structured for students, providing UPI-enabled payment capabilities, complimentary credit card access, investment options for early financial planning, and preferential interest rates on education loans.

Key features include:

• No minimum balance requirement for students
• No annual or joining fees on credit cards from first year onwards
• Daily stock recommendations for investors
• Track investment portfolio
• Educational loans at competitive rates
• Digital banking solutions
• Senior citizens have the option to invest in the government-backed Senior Citizen Savings Scheme (SCSS)

Senior Citizen Savings Account Scheme

This senior citizen scheme provides support and access to an extensive set of banking solutions designed for Senior Citizens. ICICI also assists customers in opening SCSS accounts via tie-ups with post offices or designated branches.

There are 3 types of savings accounts under this scheme:

1. Senior Citizen scheme
2. Family 360 Banking for senior citizens
3. Pension savings account

These are the benefits for the account holders:

• Monthly Payout Fixed Deposit (FD)

A Fixed deposit offering regular monthly interest payouts to ensure a steady income flow.

• Senior Citizen Savings Scheme (SCSS)

Deposit scheme for senior citizens providing higher returns along with applicable tax benefits under Section 80C.

• National Pension System (NPS)

Retirement-focused investment scheme offering quarterly interest payouts and tax benefits under Sections 80C and 80CCD(1B).

• Public Provident Fund (PPF)

Government-backed savings scheme offering guaranteed, tax-free returns with a fixed tenure.

• Fund Transfers

Secure, real-time fund transfer services are available through multiple digital banking platforms.

• Fixed Deposit (FD) Online

Facility to instantly open fixed deposits using Internet Banking or the iMobile App without physical documentation.

• Tax Payments

Digital platform for secure payment of direct taxes through Internet Banking.