Apply Online
.svg)
Terms & Conditions
Relationship can be opened in the names of
2.1
An individual in his/her own name.
2.2
The Bank will be sending through courier or post from time to time to the mailing address furnished by the applicant, statements of account, balance confirmation certificate, cheque books, ATM cards, various PIN mailers and such other items. Hence, it is incumbant upon the applicant(s) to intimate change in mailing address, if any, immediately without any loss of time. The bank will not be responsible for any loss, damage or consequences for wrong delivery of the above items arising out of non-intimation of change in mailing address.
2.3
The customer identification number is common for all accounts opened in the same name and style, in addition to unique account number for each account. Customer identification number, once allotted, needs to be quoted while opening any further accounts in the same style. The Cust ID and account number is to be quoted in pay-in-slips/cheques issued by the account holder and in all correspondence. Account holders will be provided with yearly Statement of Account.
The account holder(s) is/are expected to examine the entries in the Savings account statement on receipt, and draw the attention of the Bank to any not-errors or omissions that might be discovered. The Bank does not accept any responsibility for any loss arising out of failure on the part of the account holder to carry out examination of entries in the statement and to point out such not-error and/or omission within one month from the date of the statement.
2.4
A minimum deposit is prescribed for opening any account under a relationship. A minimum average balance during a month is also required to be maintained in savings accounts. Failure to maintain the prescribed average minimum balance will attract service charges of Rs. 100 per month.
2.5
On the completion of current educational course customer shall intimate ICICI Bank of the same and also communicate his/her intention to continue the account, if eligible to do so, at the sole discretion of ICICI Bank. Further, he/she is aware that in the absence of any such communication about the completion of his/her current educational course and/or completion of 5 years from date of account activation and/or his/her attaining the age of 27 (Twenty-seven) years whichever is earlier, Bank reserves the right to freeze the account for all banking transactions. Upon submission of relevant KYC documents, account will be unfreezed and converted to a normal savings account and Terms and Conditions applicable to ICICI Bank Savings accounts shall apply henceforth.
3.1
Cheque books will be couriered directly to the mailing address given by the applicant provided all formalities are completed. Subsequent cheque books can be requisitioned through ATM, Infinity, Phone Banking (wherever available) or through the requisition leaf available in the cheque book subject to satisfactory conduct of the account. Cheque books are issued free of cost, however, Bank reserves the right to recover the cost of the cheque book requisitioned through any or all channels.
3.2
Alterations, if any, on cheques are required to be authenticated by the drawer’s signature against each such alteration. The Bank reserves the right to refuse payment of cheques that have been altered in any way unless the alteration is authenticated by the drawer under full signature as per specimen on record with the Bank. Cheques should be drawn in such a way as to prevent alteration after issue and the drawer’s signature should be uniform with that on record.
3.3
The Bank records instructions from the drawer regarding cheques lost, stolen, etc., but cannot guarantee against loss in the event of such a cheque being paid. Service charge is recovered for handling such countermanding instructions.
4.1
When a customer wants his/her Cust ID at one branch to be transferred to another branch, he/she has to give his/her request in writing along with his/her ATM card, unused cheque books. The bank will close the Cust ID and arrange to open a new Cust ID at the other branch and will issue new cheque book, new ATM card, etc. This service is free of charge.
4.2
Transactions will not be entertained at the branch.
4.3
If a cheque issued by a customer is required to be returned for insufficient balance in the account or for being in excess of arrangements, a penalty/charge is levied. Similarly, if any cheque deposited by the customer is returned unpaid, service charge is recovered.
4.4
No overdrawing is permissible in accounts without prior arrangement with the Bank.
4.5
Standing instructions are accepted free of charge for transferring funds from Savings account to Fixed deposit or Recurring deposit accounts. Other standing instructions are subject to service charges.
5.1
Cheques, drafts, bills, dividend / interest warrants and other instruments issued in favour of customers are accepted for collection on account holders’ behalf. Collection of outstation instruments entails collection charges. The Bank does not accept any responsibility for loss, delay, mutilation or interception of the instruments in postal or courier transit. The Bank does not accept or share any responsibility for realisation of such instruments or for the genuineness, validity or correctness of the signatures or endorsements thereon. Drawals against such instruments are permissible only on realisation by the Bank. Any provisional credit allowed at the discretion of the Bank for an instrument under collection, is recoverable with interest if the instrument is returned unpaid.
5.2
The Bank has the authority to debit the accounts to recover any amount credited erroneously.
5.3
Local cheques, etc., may be tendered for collection sufficiently early in the day as required vis-a-vis the local clearing house timings. Drawals against clearing cheques will be normally permitted only against cleared balances as per clearing house rules. Drawals against uncleared clearing credits allowed at the discretion of the bank are recoverable with interest if the instruments are returned unpaid.
6.1
The Bank reserves the right to close Relationship or account(s), which according to the Bank, is/are not conducted satisfactorily, after due notice to the customers without assigning any reasons thereof.
6.2
Service charges would be as levied per Bank's rules from time to time.
7.1
The Bank reserves to itself the right to alter, delete or add any of these rules at any time without prior intimation to individual customers or to refuse to open an account or to close any account
II. Savings Account Rules
2.1
Depositors are advised to keep the cheque books / statement of accounts in a place of safety to ensure against misuse, contributing to negligence.
2.2
Duplicate statements are issued at the request of the customer for a fee. Ordinarily, duplicate statements are issued only for a period not exceeding 36 months prior to date of request.
3.1
Interest is calculated on a daily basis on the daily closing balance in the Account at the rate in force in accordance with Reserve Bank of India directives. The interest amount calculated is rounded off to the nearest rupee. Interest is paid every half year in September and March.
III. FIXED DEPOSITS
2.1
Fixed deposits are accepted with auto-renewal facility at periodicity as opted by the depositor.
3.1
Fixed Deposit Receipt or Memorandum of Deposit will be issued to account holder as may be decided by the Bank from time to time for customer convenience.
4.1
Tax at source is deducted as applicable from the interest on fixed deposit, as per Income Tax Act, 1961.
5.1
Interest on fixed deposits is reckoned/paid at quarterly intervals, at the rates applicable at the time of acceptance as the case may be, in accordance with RBI directives.
6.1
In the event of the Fixed Deposit being closed before completing the original term of deposit, interest will be paid at the rate applicable on the date of deposit for the period for which the deposit has remained with the Bank. The deposit may be subject to penal rate of interest as prescribed by the Bank on the date of deposit
