Young Stars Savings Account FAQs
What is Special about ICICI Bank Young Star and Smart Star Account?
With Young Star Account you can open and operate the account to plan your child’s need, right from a young age.
With Smart Star Account, minors above the age of 10, can open and operate the account all by themselves. This will inculcate habit of savings and a responsibility to spend wisely.
What are the key features of Smart Star Account?
- Minor above the age of 10, can open and operate the account all by themselves.
- Free Personalised debit card with spend and withdrawal limit of Rs. 5000
- Personalised cheque book – cheques can be issued by the child
- Free Internet Banking access
- Free Mobile Banking Access
- Free email statement
- Pre-paid Mobile recharge facility
What are the key features of Young Stars Account?
- Free Young Stars Debit Card - This will help your child to directly make purchases through a POS (Point of Sale) machine available at most stores and also withdraw cash from any ATMs. To know more, click here
- Choose Young Stars debit card with limits of Rs. 1,000 / Rs. 2,500 / Rs. 5,000 for shopping and cash withdrawal each day
- Special Internet Banking
- Standing Instructions Facility to debit money from parents account to the youngstars account.
- Money Multiplier Facility
What are the eligibility criteria for opening Young Stars and Smart Star Account?
Young Stars Savings Account is available for children in the age group of 1day-18 years. The guardian can open and operate the account on behalf of the minor.
Smart Star Savings Account is available for minor customers above 10 years of age. Minor can independently open and operate the account.
What is the minimum balance required to be maintained for Young Stars Savings Account?
The minimum Monthly Average Balance (MAB) to be maintained in Young Stars Savings Account is Rs.2,500.
Non-maintenance of MAB in any month will attract a charge as per the following guidelines:
|MAB maintained in the account||Charges to be levied|
|MAB < Rs. 2,500||Rs. 100 per month|
What are the transaction limits applicable to Smart Star Account?
Smart Star Savings Account with Guardian Consent – has a debit transaction limit of Rs. 2 Lacs in a financial year.
Smart Star Savings Account without Guardian Consent – has a debit transaction limit of Rs. 50000 in a financial year.
In case of breach of debit transaction limit account is frozen
What happens when the limits in the Smart Star account are breached?
When the applicable limits in the Smart Star account are breached, the Smart Star account is frozen. The customer (Minor) will be required to visit the branch and upgrade the variant to remove the freeze and avail higher limits. As higher limits are available with Smart Star - guardian consent account and Young Stars - under guardianship account, presence of parent is required.