ICICI Bank Savings Account – Types, Features & How to Open

ICICI Bank savings account comes with countless unique features and personalised services. With an extensive branch and ATM network, phone banking and internet services, ICICI savings account holders will have easy access to money anytime. Also, you can earn more than just interest with ICICI’s Reward Point scheme.

Features of ICICI Bank Savings Accounts

The following are the key features of ICICI Bank Savings Accounts: 

1. Ease access to account through mobile banking service 

1. Offers 24x7 internet banking facility 
2. Provides a touch banking on Sundays through self-service branches 
3. Allows easy financial planning for Public Provident Fund, My Money, and Atal Pension Yojana 
4. Enable user to choose their preferred account number 
5. Provides systematic saving option 

1. Allows users to choose an image for a personalised debit card 
2. Users can avail 45% return on savings accounts through internet banking, cashback, and other offers 

Types of ICICI Bank Savings Accounts  

Customers often prefer Savings Accounts due to their security and liquidity. However, simply opening a Savings Account is not enough – choosing the right type of Savings Fund is essential to fully enjoy the benefits. Here's an overview of the different options available: 

1. Digital Savings Account 

1. Regular Savings Account 

1. Silver Savings Account 

1. Gold Privilege Savings Account 

1. Titanium Privilege Savings Account 

1. Online Trading & Demat Account 

1. Salary Account 

1. PayLater by ICICI Bank 

1. Pension Account 

1. Campus Power Account 

Savings Account 

Online Trading & Demat Account 

This account combines a Savings, Demat, and Trading Account under one roof, making it ideal for those actively engaged in retail trading. 

1. You can use the portfolio tracker to check investments. 

1. Seamless trading. 

1. One account for all investments. 

Salary Account 

Specifically for salaried employees, this account offers the benefits of a Regular Savings Account, with the added advantage of a zero minimum balance requirement, meaning no need to maintain a minimum amount. 

PayLater by ICICI Bank 

Based on the customer’s eligibility, instant credit is provided by ICICI Bank. UPI transactions, bill payments, and online shopping can be completed easily. 

1. Credit card payments cannot be made. 

1. Bank transfers are not allowed. 

1. Service is provided for individuals who have pre-approved offers. 

1. Payments can be made to merchants. 

Pension Account 

Campus Power Savings Account  

The Campus Power Savings Account is designed to meet all your banking needs as a student. Whether it's making hassle-free daily payments via UPI, enjoying the freedom of spending with a complimentary Credit Card, planning for financial independence with smart investments, or benefiting from preferential rates on Education Loans, this account has everything covered.  

Features and Benefits of Campus Power Savings Account  

1. Privilege Banking Access: Enjoy the benefits of ICICI's Privilege Banking Programme for both you and your family.  

1. Complimentary Credit Card: Choose from a variety of Credit Cards with no annual or joining fees for eligible students from select institutes.  

1. Zero Balance Account: No minimum balance is required, allowing you to focus on your studies without financial stress.  

1. Digital Banking: Seamlessly manage your finances through the ICICI Bank iMobile Pay app, offering convenient digital banking solutions.  

1. Investment Options: Easily invest in stocks, mutual funds, and more with a flat brokerage of just Rs. 20.  

1. Education Loans: Access preferential rates for Education Loans, both for studying in India and abroad.  

1. Insurance Coverage: Benefit from complimentary Air Accident Insurance coverage of Rs. 50,000.  

1. Premium Alumni Credit Card: Receive a special alumni credit card after graduation, subject to eligibility.  

1. Exciting Offers: Unlock exclusive discounts and deals on your favourite brands.  

1. The Orange Book: Stay updated with monthly editions of ICICI Bank's 'The Orange Book', providing financial tips and insights.  

1. Exclusive for Select Institutes: This account is exclusively available to students from select institutions with no minimum balance requirement. 

Eligibility Criteria for Opening a Savings Account in ICICI Bank 

To open a savings account with ICICI Bank, individuals must meet the following eligibility requirements: 

1. Resident individuals, foreign nationals, and HUFs (Hindu Undivided Families) above 18 years of age. 

1. Minors can open a savings account specifically designed for minors. 

1. Senior citizens aged 60 years and above. 

Note: For specific account eligibility criteria, visit the bank’s website. 

Documents Required to Open a Savings Account 

The list of documents that must be submitted to open a savings account with ICICI Bank are mentioned below: 

1. Voter ID 

1. Driving license 

1. Aadhaar Card 

1. Passport 

Any other documents that are requested by ICICI Bank must be submitted as well. 

Steps to Open an ICICI Bank Savings Account Online 

Follow these steps to open a digital savings account online with ICICI Bank: 

Step 1: Visit ICICI Bank’s official website. 

Step 2: Navigate to the ‘Accounts’ section on the left side of the screen. 

Step 3: Select the ‘Savings Account’ option. 

Step 4: Click on ‘Open Savings Account Instantly’ and choose your applicable profile. 

Step 5: Review the benefits of a Digital Savings Account, then click ‘Proceed.’ 

Step 6: Fill in your personal details. 

Step 7: Add funds to your account (keep your UPI handle ready). 

Step 8: Complete the video KYC process with your PAN card handy. 

Step 9: Your digital account will be successfully opened. 

Steps to Open an ICICI Bank Savings Account Offline 

To open a savings account offline, visit the nearest ICICI Bank branch and follow these steps: 

Step 1: Collect and fill out the savings account application form. 

Step 2: Provide your basic details to the bank official and choose your preferred savings account. 

Step 3: Submit self-attested copies of your Aadhaar and PAN card. 

Step 4: Submit all required documents, along with a deposit cash slip or demand draft and identity proofs. 

Step 5: After successful verification, your account will be opened. 

Step 6: You will receive a welcome kit with all the necessary documents to help you manage your account. 

GST of 18% is applicable on all banking products and services from July 2017 onwards.