| Deposits-Savings Account-FAQs |
How do I approach ICICI Bank to open a Savings Account? You can approach us in any of the following ways:
What is the minimum balance required to be maintained for an ICICI Bank Savings Account? The minimum average quarterly balance required to be maintained for a Savings Account is Rs.10,000/- in metro and urban locations and Rs. 5,000/- in semi-urban and rural locations.
Interest earned on your Savings Account balance shall be credited to your account on a half yearly basis in the months of September and March. In case of the linked Money Multiplier Account, the accrued interest on the FD's created will be paid on maturity or on withdrawal in case of premature withdrawal.
Do I need an introduction from an existing ICICI Bank account holder? The Bank needs no introduction from an existing ICICI Bank accountholder if you are submitting proof of identity and address documents, as prescribed. However if you do not posses any of the address proof document then an introduction from an ICICI Bank accountholder, having satisfactory relationship of more than six months, is required.
Whom can I include as Joint Applicants? Anyone can be included as a joint applicant for a Savings Account except a minor (less than 18 years of age).
How can I change the nominee(s) for my ICICI Bank Savings Account? You can change the
nominee(s) by making a declaration to that effect, in the appropriate
form, which is available at any of the ICICI
Bank branches.
Do I have any facility for Standing Instructions? Yes, you can set up standing instructions through your ICICI Bank Savings Account. A few examples of the same are as below:
For more details please contact your nearest ICICI Bank branch. What is Money Multiplier facility? A Money Multiplier Account allows you to set a minimum balance (subject to a minimum of Rs 10,000) to be maintained in your Savings Account. You can put in a request for the transfer of the excess of the minimum Savings Bank Account balance to Fixed Deposits in units of Rs 5,000 and for a period of one year or more, as specified by you. So you enjoy a higher effective rate of interest on your deposit. When you need the money, you can withdraw it by issuing a cheque or through an ATM. The deposit gets broken in multiples of Rs. 5,000 automatically. Thus, you don't lose out on liquidity either! Please click here for further details.
What are the different channels through which I can access my ICICI Bank Savings Account? You can access your Savings Account through:
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