ICICI Bank

ICICI Bank

ICICI bank is an Indian multi-national private sector bank that first came into existence in the year 1994. It was set up by the Industrial Credit and Investment Corporation of India (ICICI) and is headquartered in Mumbai, Maharashtra, India. It currently operates in 19 countries worldwide including India with a total network of 4,450 branches and 13,995 ATMs. It is one of India’s largest banks and offers a wide variety of money market services as well as banking products.


To read about ICICI Bank Interest Rates Click Here


IFSC Code

The Indian Financial System Code or the IFSC code is a unique alphanumeric code that acts as a unique identifier for each bank branch that is involved in Electronic Fund Transfers. Every bank-branch has a varied IFSC code providing a unique identification to each branch. As for example the IFSC code for ICICI for Chennai Cenotaph Road branch is ICIC0000001 whereas for Pune, Bund Garden it is ICIC0000005.

ICICI Bank Home Loans

The various loans offered by banks in order to acquire a new property or to transfer the property is called home loans. ICICI Bank offers various best-in-class home loan plans with competitive EMI interest rates having higher eligibility. Apart from home loans provided by ICICI bank and products such as iLoans, the following are the home loan insurance options available through the bank.

  • Home Insurance and Secure Mind- It is an innovative and all-inclusive home insurance plan where in the applicant, the house and its contents can be insured under a single plan with a single premium payment.
  • Loan Protect- It is a comprehensive home loan insurance plan where the coverage for life remains unchanged for the entire 20 years tenure and multiple insurers can be covered.

CREDIT CARDS

ICICI bank, over the years had developed a host of credit cards in order to benefit all types of consumers in different field. These cards cater to all the needs and requirements of the consumers. Here are some credit cards issued by ICICI:

  • The Gemstone Collection- This credit card provides several discounts on dining and movies, complimentary airport lounge access and also many cash rewards on all the purchases.
  • Contactless Payment Card- Using this card the card holder can enjoy payments at shops with just a click. It also offers many dining and supermarket discounts and provided buy 1 get 1 free movie ticket option.
  • Fuel- Through this card the consumer can avail to cash-backs on the fuel spends as well as fuel surcharge waiver.
  • Airline- This card allows the card-holder to earn JP miles points on spends that can be redeemed for free flights and flight upgrades. Again free air lounge access is also possible through this card.
  • Unifare Metro Card- Through this card the holder can enjoy the benefit of both credit card and Metro Smart card. It provides a discount on metro fares and self- recharge facility on the Metro Smart Card Chip is also provided.
  • More cards- It is a combination of a host of easy, safe and flexible credit cards.


Credit Card Statement

ICICI bank issues a summarised statement to its card-holders on a monthly basis that contains all the details regarding the purchases and payments that have been made by the card-holder using the credit card. It also shows the outstanding balance in the credit card at the end of the month. This statement is issued to the card-holder through an email on the registered email account.

Internet Banking

ICICI Bank provides card-holders an internet banking facility through which banking process can be done at the click of a button and at the comfort of the house. The features of internet banking are as follows:

  • Bank account statements can be checked easily.
  • Funds can be moved from one account to another.
  • Fixed deposit account can be opened.
  • Utility and other bills can be easily paid.
  • Pre-paid mobile, DTH and other service connections can be recharged.

Interest Rates

ICICI bank offers many Savings Accounts and Fixed Deposit Account schemes at attractive rates of interest. The 9 primary types of savings account are as follows:

  • Titanium Privilege Account.
  • Gold Privilege Banking.
  • Silver Savings Account.
  • Regular Savings Account.
  • Pockets Savings Account.
  • Young Stars Account.
  • Advantage Woman Savings Account.
  • Senior Citizens Savings Account.
  • Basic Savings Bank Account.

All the above mentioned savings bank account earn an interest rate of 4% per annum which is calculated on a daily basis.

The bank basically provides Fixed Deposit investment schemes at attractive interest rates which are namely:

The rate of interest on the domestic term deposit ranges from 4% to 7.5% for normal public for amounts lower than Rs.1 Crore and the rate varies with the tenure of the deposit selected. In case of senior citizens, the rate is 4.50%-8.00% which is 0.50% higher than the normal rate of deposits lower than 1 crore. For deposits higher than 1 crore, the interest rate ranges from 6.25%-7.50% depending on the tenure and the deposit amount.

NRI Banking

ICICI bank offers Savings Account, Current Account, Fixed Deposits, and Recurring Deposits for Non-Resident Indians (NRIs) under various types of accounts. They are as follows:
 

Rupee Accounts- It is a rupee denominated account. Basically two primary accounts are present namely:

  • NRE Savings Account.
  • NRO Savings Account.

Foreign Currency Accounts- It offers RFC Savings Accounts for the Indians who are Returning from abroad.

Premium Accounts- Two basic accounts are offered namely:

  • NRI Pernia
  • NRI Pro.

Special Accounts- It consists of two accounts namely:

  • Seafarer’s NRE Savings Account
  • Student’s NRE Savings Account.

Fixed Rupee Account- Consists of 5 different types of accounts namely:

  • NRE FD Account.
  • NRO FD Account.
  • NRE FD(Without premature withdrawal facility)
  • NRO FD(Without premature withdrawal facility)
  • Rupee plus Plan.

Fixed Deposit Foreign Currency Accounts- Basically provides two accounts namely:

  • FCNR FD
  • RFC FD.

Recurring Deposit Rupee Account- It provides the card holder two main types of accounts namely:

  • NRE Recurring Deposit Account.
  • NRO Recurring Deposit Account.

Investments- Three schemes are available namely:

  • Portfolio Management Services.
  • ICICIdirect Account.
  • Mutual Funds.

Insurance- It provides Life insurance and General Insurance schemes.

Loans- It provides Home Loans and Loans against Fixed Deposits