Savings Account FAQs

An ICICI Bank Savings Account is a safe and convenient deposit account that allows you to store money securely while earning interest on the balance maintained. It offers easy access to your funds through ATM withdrawals, debit card usage, online transfers, and cheque payments. It is an ideal account for managing day-to-day expenses, savings, and digital payments.

Monthly Average Balance required in the new savings account is as follows:

• Metro and Urban locations - ₹ 15,000
• Semi-urban locations - ₹ 7,500
• Rural locations- ₹ 2,500

Following customers are exempted from the requirement of monthly average balance:

• Customers fulfilling programme eligibility criteria
• Pensioners receiving pension in their ICICI Bank Savings Accounts
• Students of Select Institutes

A Savings Account helps you manage your money securely and efficiently through:

• Interest earnings on idle funds

• Safe digital banking via UPI, Net Banking, and imobile app

• Access to ATM withdrawals, cheque payments, debit card transactions

• Offers and rewards across lifestyle, shopping, and travel

• A secure location to store emergency funds

• Easy linkage with mutual funds, FDs, SIPs, and insurance

Interest on the Savings Account is calculated daily and credited quarterly. Rates vary depending on the balance slab. For updated interest rate structure, customers are encouraged to visit the Bank website or check the latest circulars on Net Banking.

Yes. You can open more than one Savings Account based on different financial needs (e.g., salary, personal savings, investments). However, each account must meet its respective balance and compliance requirements.

Yes. ICICI Bank offers following types of minor accounts:

• Self-operated Account with Guardian consent
• Guardian-operated account on behalf of the minor
• Self-operated account without guardian consent

A BSBDA is a zero-balance Savings Account designed to promote financial inclusion. It provides:

• Complimentary debit card

• Limited but essential monthly transactions

• No minimum balance requirement

• Access to digital banking and ATM services on request

To open a Minor Account, the following documents are required:

For the Minor:

• Birth certificate or school ID as age proof

• Photograph (if applicable)

• In case of self-operated account, minor PAN or Form 60 is required.

For the Parent/Guardian:

• Valid identity and address proof

• PAN

• Photograph

• 18 years and above: Can independently open a Savings Account.

• Below 18 years: A minor’s account can be opened under a parent/guardian, or an account can be operated by the minor (above 10 years) with selected privileges.

• After successful account opening, you will receive:

  • SMS and email confirming account activation

  • A welcome kit, which includes:

    • Debit card

    • Cheque book

    • Account number and customer ID

    • Terms and conditions booklet

  For online accounts, a virtual debit card is issued immediately.

To open an ICICI Bank Savings Account, you need to submit valid KYC (Know Your Customer) documents as mandated by RBI:

1. Proof of Identity (any one):

• Aadhaar Card

• PAN Card

• Passport

• Voter ID

• Driving Licence

2. Proof of Address (any one):

• Aadhaar Card

• Passport

• Utility bill (Electricity, Water, Gas – not older than 2–3 months)

• Rental agreement with utility bill

• Bank account/statement from another bank

• Property or municipal tax receipt

3. Other documents:

• Passport-size photograph

• PAN or Form 60 (if PAN not available)

The bank may ask for additional documents based on your profile and account type.

ICICI Bank offers interest on Savings Account balances based on daily closing balances, and the accumulated interest is credited quarterly.
Customers are advised to refer to the ICICI Bank website, Net Banking, or branch notices for the latest interest rate structure.

Yes. Students of select institutes can open zero-balance with:

• debit card

• Digital banking facilities

• Special offers on, gadgets, and travel

These accounts help students manage their expenses independently.

Yes. Adding a nominee is mandatory for all individual and sole proprietorship accounts.
A nominee ensures that the account balance is transferred smoothly to the nominated person in the event of the account holder’s demise.

You can add or update a nominee anytime via imobile app, net banking or by visiting a branch.

Upon turning 18, the minor must:

• Complete full KYC

• Submit identity & address proofs

• Update signature and photograph

The account is then converted into a usual Savings Account.

An ICICI Bank Savings Account offers a wide spectrum of benefits designed to make everyday banking convenient, secure, and rewarding:

• Earn daily interest with quarterly credit

• Access to ATMs and branches

• Enjoy seamless digital banking via imobile app and Net Banking

• Free fund transfers (UPI, NEFT, RTGS)

• Debit card benefits, including offers, discounts, and cashbacks

• Exclusive ICICI Bank Deals on shopping, dining, travel, and lifestyle

• Easy linkage with FDs, RDs, SIPs, loans, and insurance

• Customer support across multiple channels

This makes it an ideal account for both everyday needs and long-term financial management.

An ICICI Bank Savings Account offers a wide spectrum of benefits designed to make everyday banking convenient, secure, and rewarding:

• Earn daily interest with quarterly credit

• Access to ATMs and branches

• Enjoy seamless digital banking via imobile app and Net Banking

• Free fund transfers (UPI, NEFT, RTGS)

• Debit card benefits, including offers, discounts, and cashbacks

• Exclusive ICICI Bank Deals on shopping, dining, travel, and lifestyle

• Easy linkage with FDs, RDs, SIPs, loans, and insurance

• Customer support across multiple channels

This makes it an ideal account for both everyday needs and long-term financial management.

You can pay a wide range of bills instantly through multiple digital channels:

• imobile app: Electricity, DTH, mobile recharge, broadband, water, gas, municipal taxes, FASTag, insurance, loan EMIs, credit card bills, and more.

• Net Banking: Bill Pay section for recurring or one-time payments.

• UPI: Quick payments using UPI IDs, QR codes, or direct-to-biller options.

All payments are processed securely with instant confirmation on successful transaction.

If an account becomes dormant:

• You cannot perform debit transactions such as withdrawals, transfers, UPI payments, or debit card usage

• Credit transactions (such as interest credit or deposits) are still allowed

• The balance in your account remains safe

• You continue to earn interest on the available funds

To resume full usage, reactivation is required.

Reactivation is simple and can be done through:

1. imobile app / Net Banking: Submit a re-KYC request and upload documents (if eligible)

2. Video KYC: Complete the verification instantly

3. Branch Visit: Provide updated KYC documents (ID proof, address proof, PAN)

Once verified, your account becomes fully operational

No. ICICI Bank does not levy any charges for reactivating an inactive or dormant account.

An account becomes:

• Inactive: If there are no customer-initiated transactions for 12 months

• Dormant: If inactivity continues for 24 months

Customer-initiated transactions include withdrawals, deposits, fund transfers, UPI payments, cheque issuances, and ATM usage.

Nomination can be added or modified anytime through:

• imobile app → Services → Manage Nominee
• Net Banking → Customer Services → Nomination Service
• Branch Visit

A nominee ensures smooth transfer of funds in case of an unforeseen event.

Monthly Average Balance required in the new savings account is as follows:

• Metro and Urban locations - ₹ 15,000
• Semi-urban locations - ₹ 7,500
• Rural locations- ₹ 2,500

Following customers are exempted from the requirement of monthly average balance:

• Customers fulfilling programme eligibility criteria
• Pensioners receiving pension in their ICICI Bank Savings Accounts
• Students of Select Institutes

A Savings Account helps you manage your money securely and efficiently through:

• Interest earnings on idle funds

• Safe digital banking via UPI, Net Banking, and imobile app

• Access to ATM withdrawals, cheque payments, debit card transactions

• Offers and rewards across lifestyle, shopping, and travel

• A secure location to store emergency funds

• Easy linkage with mutual funds, FDs, SIPs, and insurance

Interest on the Savings Account is calculated daily and credited quarterly. Rates vary depending on the balance slab. For updated interest rate structure, customers are encouraged to visit the Bank website or check the latest circulars on Net Banking.

Yes. You can open more than one Savings Account based on different financial needs (e.g., salary, personal savings, investments). However, each account must meet its respective balance and compliance requirements.

A BSBDA is a zero-balance Savings Account designed to promote financial inclusion. It provides:

• Complimentary debit card

• Limited but essential monthly transactions

• No minimum balance requirement

• Access to digital banking and ATM services on request

An ICICI Bank Savings Account is a safe and convenient deposit account that allows you to store money securely while earning interest on the balance maintained. It offers easy access to your funds through ATM withdrawals, debit card usage, online transfers, and cheque payments. It is an ideal account for managing day-to-day expenses, savings, and digital payments.

To open a Minor Account, the following documents are required:

For the Minor:

• Birth certificate or school ID as age proof

• Photograph (if applicable)

• In case of self-operated account, minor PAN or Form 60 is required.

For the Parent/Guardian:

• Valid identity and address proof

• PAN

• Photograph

To open an ICICI Bank Savings Account, you need to submit valid KYC (Know Your Customer) documents as mandated by RBI:

1. Proof of Identity (any one):

• Aadhaar Card

• PAN Card

• Passport

• Voter ID

• Driving Licence

2. Proof of Address (any one):

• Aadhaar Card

• Passport

• Utility bill (Electricity, Water, Gas – not older than 2–3 months)

• Rental agreement with utility bill

• Bank account/statement from another bank

• Property or municipal tax receipt

3. Other documents:

• Passport-size photograph

• PAN or Form 60 (if PAN not available)

The bank may ask for additional documents based on your profile and account type.

• After successful account opening, you will receive:

  • SMS and email confirming account activation

  • A welcome kit, which includes:

    • Debit card

    • Cheque book

    • Account number and customer ID

    • Terms and conditions booklet

  For online accounts, a virtual debit card is issued immediately.

• 18 years and above: Can independently open a Savings Account.

• Below 18 years: A minor’s account can be opened under a parent/guardian, or an account can be operated by the minor (above 10 years) with selected privileges.

ICICI Bank offers interest on Savings Account balances based on daily closing balances, and the accumulated interest is credited quarterly.
Customers are advised to refer to the ICICI Bank website, Net Banking, or branch notices for the latest interest rate structure.

Yes. Students of select institutes can open zero-balance with:

• debit card

• Digital banking facilities

• Special offers on, gadgets, and travel

These accounts help students manage their expenses independently.

Yes. Adding a nominee is mandatory for all individual and sole proprietorship accounts.
A nominee ensures that the account balance is transferred smoothly to the nominated person in the event of the account holder’s demise.

You can add or update a nominee anytime via imobile app, net banking or by visiting a branch.

Upon turning 18, the minor must:

• Complete full KYC

• Submit identity & address proofs

• Update signature and photograph

The account is then converted into a usual Savings Account.

You can pay a wide range of bills instantly through multiple digital channels:

• imobile app: Electricity, DTH, mobile recharge, broadband, water, gas, municipal taxes, FASTag, insurance, loan EMIs, credit card bills, and more.

• Net Banking: Bill Pay section for recurring or one-time payments.

• UPI: Quick payments using UPI IDs, QR codes, or direct-to-biller options.

All payments are processed securely with instant confirmation on successful transaction.

If an account becomes dormant:

• You cannot perform debit transactions such as withdrawals, transfers, UPI payments, or debit card usage

• Credit transactions (such as interest credit or deposits) are still allowed

• The balance in your account remains safe

• You continue to earn interest on the available funds

To resume full usage, reactivation is required.

Q109. How do I reactivate my inactive or dormant account?

Reactivation is simple and can be done through:

1. imobile app / Net Banking: Submit a re-KYC request and upload documents (if eligible)

2. Video KYC: Complete the verification instantly

3. Branch Visit: Provide updated KYC documents (ID proof, address proof, PAN)

Once verified, your account becomes fully operational

No. ICICI Bank does not levy any charges for reactivating an inactive or dormant account.

An account becomes:

• Inactive: If there are no customer-initiated transactions for 12 months

• Dormant: If inactivity continues for 24 months

Customer-initiated transactions include withdrawals, deposits, fund transfers, UPI payments, cheque issuances, and ATM usage.