ITSA – Investments & Tax Savings Account
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Basic Savings Bank Account
General conditions for Basic Savings Bank Deposit Account and Small Deposits Accounts
Last updated date: August 8, 2019
- The account is available for Indian Residents above the age of 18 years only. The account is not available to individuals in the capacity of HUF Karta’s. NRIs and foreign nationals will not be offered this product.
- Customer should not have any existing Savings Account with the Bank prior to opening of Basic Savings Bank Deposit Account. If any existing Savings Account is available with the Bank, then the same needs to be closed by the customer by providing a closure request within 30 days of opening of BSBD Account with the Bank. An existing BSBD Customer cannot open another BSBD Account with ICICI Bank. In case of other account being identified with ICICI Bank for the Customer, the same shall be liable for closure without any further notice at the Bank’s discretion.
All general terms and conditions applicable to Savings Accounts as published on the ICICI Bank website at www.icicibank.com for the establishment of a relationship and the opening and operating of accounts are applicable to this account. In addition, the terms and conditions specific to this account are as follows:
- Fees and Charges
- There is no MAB requirement for this account.
- The Bank will issue ATM-cum-Debit Card free of cost.
- Customer will be eligible for unlimited deposits through various modes.
- Transaction charges
All banking transactions like issuance/revalidation/cancellation of DD/PO, outstation cheque clearing, etc. are subject to charges. The Bank may charge the customer such service charges as decided by the Bank from time to time, for all or any of the facilities availed by the customer as provided by the Bank with intimation to the customer. Further, any Government charges, duties or taxes developing from the provision of any of the facilities shall, if imposed upon the Bank (either directly or indirectly), shall be debited from the customer's account.
- Changes to terms and conditions:
ICICI Bank reserves the right to make changes to the terms and fee/charges for the services applicable to Basic Savings Bank Deposit Account by modifying the same on www.icicibank.com from time to time. The customer undertakes to keep himself/herself updated in this regard.
Additional for Small Deposits Account
- The Small Deposits Account will freeze if:
- Value of all credits during the financial year exceeds Rs 1,00,000, or
- Day end account balance exceeds Rs 50,000, or
- Total withdrawals in a month exceed Rs 10,000, or
- In the event the customer does not submit the stipulated KYC documents or evidence to have applied for valid documents till the time of account completing 12 months, Bank may stop crediting customer proceeds to such accounts.
- In the event the customer does not submit valid KYC documents till 24 months of account opening, complete operations in this account will be stopped.
In case of any inconsistency between these terms and conditions and the general terms and conditions applicable to Savings Accounts in connection with the ‘Basic Savings Bank Account’, these terms and conditions will be applicable.
*ICICI Bank may, at its sole discretion, utilise the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products.
The products, services and offers referred to herein are subject to the terms and conditions governing them as specified by ICICI Bank from time to time at www.icicibank.com . Nothing contained herein shall constitute or be deemed to constitute an advice, invitation or solicitation to purchase any products/ services of ICICI Bank. ‘ICICI’ and ‘I-man’ logos are trademark and property of ICICI Bank Ltd. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.
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