Escrow Account Services
At ICICI Bank, we cater to your Escrow Account requirements with our expertise and our innovative digital platform.
We facilitate wide range of transactions:
Sale purchase transactions
Real estate debt transactions
Revenue/ profit sharing arrangements
Mergers and acquisitions
Project financing and lending arrangements
Trust and retention transactions.
Our Escrow value proposition for you:
Dedicated product, legal and operations team to structure requirements and quick turnaround for implementation
Single login view access for accounts
Click here for Escrow Terms and Conditions
DigiEscrow — ICICI Bank’s online escrow management platform
- DigiEscrow is an innovative digital platform which enables you to execute transactions from your Escrow Account(s) online
- You can log in to Corporate Internet Banking (CIB) with your Corporate ID, User ID and Password and initiate escrow transaction requests directly from your office or home
- You also get a completely agile and real-time dashboard which enables you to view the status of all your escrow transactions and live escrow deals.
Salient features of DigiEscrow
- Safe and secure access with robust authentication process
- Single login view of all your escrow deals
- Set up multiple authorisation (maker-checker) workflows in line with your escrow agreement
- Real-time transaction status
- Transaction history for all your accounts
- Pre-filled templates for same beneficiaries for transactions of repetitive nature.
Transact in 4 simple steps
- Log in to CIB
- Select deal and fill up the required details
- Upload relevant documents, if any
- Submit and approve the transaction as per your approval matrix to bank for completion.
How do I open an Escrow Account with ICICI Bank and who do I contact?
To open an Escrow Account with ICICI Bank, you may visit the nearest ICICI Bank branch or submit your details on our website and we will get in touch with you.
What are the benefits of opening an Escrow Account with ICICI Bank?
At ICICI Bank, we cater to a wide range of escrow transactions. Some of the benefits of opening Escrow Account with ICICI Bank are listed below:
- Quick TAT in closure of agreements
- Instant account number generation and easy account opening
- Dedicated and experienced product, legal and operations team to manage deals
- Robust support desk to manage end-to-end implementation
- Innovative digital platform for online transaction execution
How will DigiEscrow benefit me?
Transactions can be submitted anytime and anywhere without any additional set-up cost and with lesser Turn Around Time (TAT). With online access, you can also view all transactions and deals on a comprehensive dashboard.
What is the registration process to avail of DigiEscrow?
In case you have an existing Escrow Account with ICICI Bank with Corporate Internet Banking (CIB) view access, you can fill up the amendatory request letter and provide supporting documents like Board Resolution or Partnership Mandate to your Relationship Manager. Once DigiEscrow is activated, you will be able to log in with your existing CIB User ID and Password.
How can I access the DigiEscrow platform?
You can access DigiEscrow by just logging in to your CIB Account with your Corporate ID, User ID and Password. The DigiEscrow option will be enabled on completion of the registration process with ICICI Bank.
Do I need to submit documents to the branch for transactions done on DigiEscrow?
There is no need to submit physical documents in case the transaction is initiated through the online platform. However, you may be required to submit documents in case it is required by any regulator.
I don’t have ICICI Bank CIB facility. What should I do?
To avail of ICICI Bank CIB facility, you may contact your Relationship Manager or visit the nearest ICICI Bank branch to sign up for CIB.
Is there a fee for this facility?
- No fee will be charged for existing Escrow Account customers for availing of this facility
- For new customers availing of this facility, you may contact your Relationship Manager.
What if I have any other query?
You can always reach out to us at the following contact points:
- Visit the nearest ICICI Bank branch
- Contact your Relationship Manager.
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