ICICI Bank Savings Account – Types, Interest Rates, How to Apply

Account Balance	Rate of Interest (p.a.)
For end of the day balance below Rs. 50 lakh	3.00%
For end of the day balance of Rs. 50 lakh and above	3.50%

Note: Interest rates are updated as on 18th September 2023.

Read More: Savings Account Interest Rates

Digital Savings Account	Regular Savings Account
Silver Savings Account	Gold Privilege Savings Account
Titanium Privilege Account	Online Trading & Demat Account
Salary Account	PayLater by ICICI Bank
Pension Accounts	Campus Power Account

Digital Savings Account

Digital Savings Account by ICICI Bank, which is also known as Insta Savings Account, can be opened from the comfort of your place. There is no need to deposit funds initially to open this account. The key features of this savings account are discussed below:

• Instant account opening process
• Offers a completely paperless process
• The customer will get 24×7 banking services
• A virtual debit card will be offered to the account holder
• Option to apply for services such as fixed deposit, public provident fund, loans, etc.
• The account allows customers to transfer money and pay bills

Note: This savings account will provide customers with limited access with a transaction limit of Rs. 1,00,000 per year. However, if customers want to avail complete access to banking services with full features and without any restrictions on the account, they must ensure to complete their video KYC within 72 hours of opening the digital savings account to convert into a regular savings account.

 Regular Savings Account

This savings account by ICICI Bank is for individuals who want to do routine transactions such as making bill payments, FD requests, balance enquiry, etc. For individuals who plan to open this account, their average monthly balance should be Rs. 10,000 in metro and urban locations, Rs. 5,000 in semi-urban locations, Rs. 2,000 in rural locations and Rs. 1,000 in gramin locations.

• This savings account is available in all cities
• A Titanium debit card is issued to the customer
• Internet banking and mobile banking facility is available
• Nomination facility is also available

Silver Savings Account

Silver Savings Account by ICICI Bank is curated for young professionals having a fixed income. This savings account can be opened instantly. The account also offers secure internet and mobile banking. Customers also get reward points on the debit card. Account holders need to maintain a minimum balance of Rs. 25,000 in the Silver Savings Account.

• A Titanium debit card is issued to the customer
• Option to avail 15% rebate on yearly locker rent
• Money multiplier facility available
• Customers will get free email statements
• SMS alert facility is provided for free
• Free passbook is provided for individual accounts
• Customers can avail waver on DD/PO charges for up to Rs. 1,00,000 per day
• Facility of unlimited cash withdrawal at any bank’s ATM with no charges applicable
• Payable-at-Par multi-city cheque book is provided for free

Gold Privilege Savings Account

This savings account by ICICI Bank provides account holders with gold privileges and services. Any Indian citizen is eligible to open this savings account as an individual or as a joint account. The account holder needs to maintain a monthly average balance of Rs. 50,000 (Non-Senior Citizens).

• Free Titanium debit card is provided
• The account holder can avail 20% discount on the annual fee for safe deposit lockers
• Free SMS alert facility
• Passbook facility for individual account holders is provided for free
• E-mail statements are provided for free

Titanium Privilege Account

Titanium Privilege Account by ICICI Bank is for individuals who can maintain high value funds in their savings, current, or fixed deposit account. To open this savings account, customers need to maintain any one of the mentioned relationship values with the bank: Savings Account average monthly balance of Rs. 1,00,000 or Current Account average monthly balance of Rs. 3,00,000 or Total Deposits (Savings Account + Current Account + Fixed Deposit) of Rs. 5,00,000.

• The account holder will get a free Titanium Privilege debit card with no annual charges
• Air accident insurance of Rs. 40 Lakh and personal accident insurance of Rs. 10 Lakh is provided
• A dedicated relationship manager is provided
• Accountholders will get privilege access across all ICICI branches
• Preferential rates on home, personal and education loans

Note: Titanium Privilege Account’s benefits are suited to your family. If you intend to open this account, you should include your family members for account opening since the benefits are best availed with family members. All family members can avail common benefits of this account mapped to one ID.

Online Trading & Demat Account

ICICI Bank’s Online Trading & Demat Account provides facilities like online account opening, low brokerage, free research recommendations on individual stocks and much more. In case you want to start your stock investments,  you can open ICICI Bank’s 3-in-1 Savings, Demat & Trading Account. This account can be opened online as well.

• Single account for all your investments
• Distinguished brokerage plans for various products
• The account provides a seamless trading
• A portfolio tracker is provided to monitor your investments

Should you apply for Online Trading & Demat Account The account can be opened for free within few minutes from anywhere Facility to get cash instantly in 30 minutes A platform to let you make the right choice for stock purchase Facility to buy shares and pay within 365 days

Salary Account

This savings account by ICICI Bank is for employees and employers. It is a zero-balance savings account for employees. The account holder need not maintain a minimum balance in this savings account. For employers to open this account, they need to have 20 minimum employees in the organization with an average salary of Rs. 25,000. This Salary Account by ICICI Bank are of 5 variants. Discussed below are the variants provided by this savings account:

Silver Salary Account

• Zero balance salary account
• Unlimited ATM transactions on ICICI Bank network available
• The account holder will get a free personalized payable-at-par chequebook
• Free SMS alert facility
• Inter-bank money transfer through online NEFT is provided for free
• Account holder will get an instant welcome kit including a debit card and a chequebook

Gold Salary Account

• It is a zero-balance salary and reimbursement account
• The account holder will get personal accidental death insurance of Rs. 5 Lakh and air accident death insurance of Rs. 30 Lakh
• Facility to avail unlimited ATM transactions on the ICICI Bank network
• Free SMS alert facility
• The account holder can avail zero balance companion account for up to 5 members of the family (Parents, Spouse and Children)
• Option to open an online PPF account
• A lifetime free credit card can be availed if the customer is eligible

Titanium Salary Account

• It is a zero-balance salary and reimbursement account
• Discount on locker charges
• The customer will get personal accident insurance cover of Rs. 10,00,000 and air accident insurance cover of Rs. 40,00,000
• The account holder can avail zero balance companion account for up to 5 members of the family (Parents, Spouse, and Children)
• The customer will get a free personalized payable-at-par chequebook

Defence Salary Account

• This savings account is designed for Defence Personnel
• The account holder can use unlimited ICICI Bank and Other Bank ATMs
• The account holder can also open zero balance accounts for up to 4 members of the family
• The account holder will also get an option for lifetime free credit card variants on the basis of the Personnel’s rank

Select Plus Salary Account

• This savings account is meant for salaried individuals having a high net worth
• The account holder will get a free Titanium debit card having higher withdrawal and spending limits
• It is a zero balance and reimbursement account
• Benefits of this account can be extended to parents, spouse, children, grandparents and grandchildren with a zero balance account
• The account holder will get complimentary insurance of Rs. 40,00,000 in case of an air accident and Rs. 10,00,000 if case of an accident
• Facility to open an online PPF account

PayLater by ICICI Bank

PayLater by ICICI Bank provides customers with instant credit depending upon the eligibility of the customer. Customers can avail this facility in ICICI Bank by opting for PayLater by ICICI Bank account. The facility provides the customer with instant digital credit for up to 45 days. The customer can easily pay bills, shop online and make UPI transactions easily.

• Customers can make payments to the merchant
• The facility is available for set of customers who already have pre-approved offers
• An activation fee of Rs. 500 is charged to avail facilities of this account and a service charge of Rs. 75+applicable taxes are levied on every spend of Rs. 3,000 on monthly spent
• PayLater service cannot be used to make credit card payments, to transfer funds to other bank accounts and make person to person fund transfers.

Pension Accounts

This savings account is for individuals who plan to save for their retirement years. The account does not just protect hard-earned money but also caters to wellness across your banking needs. Also, the bank offers various retirement plans such as National Pension System, Atal Pension Yojana, EPFO, Civil Pension and Defence Pension.

ICICI Bank offers three variants of savings accounts for people who want to save for retirement years. Below-mentioned are the accounts:

Retire Happy – Gold Savings Account

• Individuals who have opted for voluntary retirement are also eligible for this account
• The account holder need not maintain any minimum balance in the account provided the account holder fulfils either of the mentioned criteria: The account holder must receive a minimum monthly credit of at least Rs. 25,000 within 8 months of opening the account or there should be a minimum investment of Rs. 10,00,000 across the senior citizen savings scheme within 6 months from retirement or from the customer’s 60^thbirthday, whichever is earlier
• Cash withdrawal limit of Rs. 75,000 per day and transaction limit of Rs. 1,25,000 per day is provided
• Unlimited and free cash withdrawals at the branch
• Free and unlimited access to ATMs of all banks

Retire Happy – Titanium Savings Account

• Individuals who have opted for voluntary retirement are also eligible for this account
• The account holder need not maintain any minimum balance in the account provided the account holder fulfills either of the mentioned criteria: The account holder must receive a minimum monthly credit of at least Rs. 50,000 within 8 months of opening the account or there should be a minimum investment of Rs. 20,00,000 across the senior citizen savings scheme within 6 months from retirement or from the customer’s 60^thbirthday, whichever is earlier
• Cash withdrawal limit of Rs. 1,00,000 per day and transaction limit of Rs. 1,50,000 per day is provided

Retire Happy – Wealth Savings Account

• Individuals who have opted for voluntary retirement are also eligible for this account
• The account holder need not maintain any minimum balance in the account provided the account holder fulfills either of the mentioned criteria: The account holder must receive a minimum monthly credit of at least Rs. 1,00,000 within 8 months of opening the account or there should be a minimum investment of Rs. 30,00,000 across the senior citizen savings scheme within 6 months from retirement or from the customer’s 60^thbirthday, whichever is earlier
• Cash withdrawal limit of Rs. 1,00,000 per day and transaction limit of Rs. 2,00,000 per day is provided

Campus Power Account

ICICI Bank offers students with ‘Campus Power’. This savings account is aimed at providing students, parents, and institutions with banking services. This savings account ensures that it provides all financial assistance to students.

• Services of this savings account include funding the education of the student, finding the course and university, assistance to students in preparing for tests, offering debit/credit card and helping in creating an overseas account for the student
• Helps parents by providing education loans
• Provides institutes and international schools with various products and services
• It is a zero-balance savings account for students of premium institutes
• A Titanium debit card is issued with a high transaction and withdrawal limit

Individuals applying for a savings account in ICICI Bank have to produce the below-mentioned documents:

Passport Aadhaar Card Driving license issued by the Regional Transport Authority Voter ID Job card issued by NREGA, signed by a State Government Officer Letter from the National Population Register

Note: For other documents required to open any other savings account, please visit the bank’s website.

Category	Fees and Charges
Issue of passbook	No charges if requested at the branch where the customer has maintained the account
Issue of duplicate passbook	Rs. 100 for issuing, Rs. 25 for updating per page
UPI transaction charges	NIL
Account closure	No charges if closed within 30 days of account opening Rs. 500 will be charged if closed during 31 days to one year No charges after one year of account opening
Replacement of lost or damaged debit card	Rs. 200 per card
De-hotlisting of debit card	Rs. 100 per request
Attestation of photo	Rs. 100 per attestation
Attestation of signature	Rs. 50 per application/letter
Address change request at branches	Rs. 50 per request
Issue of duplicate statement	Rs. 100 per statement at branch or Customer Care (non-IVR) Rs. 50 per statement through Customer Care (IVR), ATM and Net banking
DD/PO – Cancellation/Duplicate/Revalidation	For value up to Rs. 200 – NIL For value above Rs. 200 – Rs. 100

Individuals looking to open a savings account in ICICI Bank will have to fulfil the below-mentioned eligibility criteria:

• Resident individual, foreign national, and HUFs above the age of 18 years
• Minors are also eligible to open a savings account dedicated to minors
• Senior citizens above the age of 60 years

Note: Individuals can refer to the bank’s website to know detailed eligibility criteria for specific accounts.

The below-mentioned steps explain how one can open a digital savings account online in ICICI Bank:

Step 1: Visit ICICI Bank’s official website.

Step 2: Navigate towards ‘Accounts’ on the left side of the screen.

Step 3: Tap on the ‘Savings Account’ option.

Step 4: On the page, click on ‘Open Savings Account Instantly’. Select your applicable profile from the provided options.
Step 5: Read the privileges of a Digital Savings Account and tap on ‘Proceed’.

Step 6: Add your personal and other details.

Step 7: Add funds to your account (Keep your UPI handle ready).

Step 8: Prepare for video KYC and keep your PAN card handy.

Step 9: Your digital account will be opened.

Note: Your digital savings account will provide you with limited banking services. However, if you want to avail complete banking services, you can convert your digital savings account to a regular savings account by performing video KYC.

Applicants who want to open an offline savings account in ICICI Bank can do so by visiting the nearest branch of the bank. The below-mentioned steps explain how one can open an offline savings account in ICICI Bank:

Step 1: Visit the nearest ICICI Bank’s branch and fill out the savings account application form.

Step 2: Once the application form has been filled, provide your basic details to the bank official and choose from the savings account you want to open.

Step 3: Provide your self-attested Aadhaar and PAN card to the bank official.

Step 4: Collate all your documents and submit your documents with a deposit cash slip or demand draft and other proofs of your identity.

Step 5: Once the verification is successful by the bank, your account will be opened.

You will get a welcome kit containing all necessary documents to assist you operate your account successfully.

ICICI Bank Home Loan	ICICI Bank Personal Loan
ICICI Bank Fixed Deposit	ICICI Bank Credit Card
ICICI Bank Debit Card	ICICI Bank Balance Enquiry
ICICI Bank Mobile Banking	ICICI Bank Net Banking
ICICI Bank Customer Care

Q. I want to update my mobile number of my ICICI savings account. How can I do so?

Ans. If you want to update your mobile number in ICICI savings account, you can do so by visiting ICICI Bank’s branch along with your original photo ID proof or you can visit ICICI Bank’s ATM and your number will be changed in one working day.

Q. What is the name of ICICI Bank’s mobile banking app?

Ans. ICICI Bank provides iMobile Pay as its mobile banking application which can be downloaded and activated on your mobile phone.

Q. I applied for a savings account in ICICI Bank. How can I check my application status?

Ans. To check your application status, you can call the bank’s customer care from 7:00 A.M. to 9:00 P.M. on 1800 1080.

Q. If I change my job, will I be able to maintain the same salary account or the account will change?

Ans. If your employer allows it, you can continue with the same salary account. If the employer provides salary in accounts of specific banks other than ICICI Bank, you may have to change your salary account. In such a scenario, your salary account will be converted to a regular savings account and the charges of a regular savings account will be applicable on your account.

Q. What is the process to pay dues on my PayLater savings account in ICICI Bank?

Ans. The amount which you have borrowed from the bank in your PayLater account will be debited automatically from your account.

Q. I want to close my PayLater account, what is the process to do so?

Ans. To close your PayLater account, you can call the customer care on 1860 120 7777 or drop an email to the bank at customer.care@icicibank.com.

Q. Does ICICI Bank remain open on Saturdays?

Ans. ICICI Bank remains open on the 1^st and 3^rd Saturday of every month. To know more about bank holidays, click here.