Why is ICICI Bank Smart Business Account (SBA) 2.0 “Smart”?
April 22, 2020
ICICI Bank offers comprehensive banking solutions to suit the needs of every Micro, Small and Medium Enterprises (MSME). Smart Business Account 2.0 adjusts itself with your business cycle giving you multiplier benefits for cash and non-cash transactions basis balance maintained in the account.
We have 4 variants under Smart Business Account (SBA) 2.0
- SBA 2.0 Silver: QAB* of Rs 50,000
- SBA 2.0 Gold: QAB* of Rs 1,00,000
- SBA 2.0 Platinum: QAB* of Rs 5,00,000
- SBA 2.0 Ivy: QAB* of Rs 10,00,000
*QAB is Quarterly Average Balance which will reduce to 50% for select Semi Urban and Rural branches.
Benefits of Smart Business Account (SBA) 2.0
- Dynamic cash deposit based on the balance maintained
- Zero QAB requirement for first 2 quarters if the customer is transaction active on DigiPack
- Free 150 cheque leaves per month for every Rs 1 lakh of balance maintained
- Free Business Gold Debit Card
- Free cheque collection and payment anywhere across the country
- Free Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) transactions.
Click here to open ICICI Bank Smart Business Account in just a few clicks.
What is DigiPack under Smart Business Account (SBA) 2.0?
Digi Pack has been introduced to enhance the use of digital platform. If the customer is active on DigiPack within first two months of account opening, then the customer can enjoy zero QAB requirement for first 2 quarters.
The customer needs to be transaction active on either Corporate Internet Banking or InstaBIZ app and has done any two of the following transactions online: Goods and Services Tax (GST) payment, CMS, Debit Card (through POS), Connected Banking, Bill Pay within 2 months of opening the account.
The minimum amount on each channel should be Rs 1,000.
What is the eligibility for SBA 2.0?
Customers are eligible if they fall under any of the following categories and have businesses to run:
- Resident Individual
- Sole Proprietorship Firms
- Hindu Undivided Family (HUF)
- Partnership Firms and Limited Liability Partnerships (LLPs)
- Private and Public Limited Companies and One Person Companies (OPCs)
- All other entities eligible to open Current Account.
Make a smart choice and click here to open a Smart Business Account for your business in just a few clicks.