ICICI Bank Basic Savings Bank Account (BSBDA) is a zero-balance account. It has no restriction on the maintenance of the monthly average balance. You can safely park your funds here and earn decent interest on the end-day balance daily. The applicable interest rate is 3.00% to 3.50%. The interest amount is credited every quarter. You can avail all kinds of banking facilities such as cash deposit, internet and mobile banking, passbook, cheque book, DD/PO, etc.
In this post, we will discuss ICICI Bank Basic Savings Bank Account features, interest rates, eligibility criteria, documents required, BSBDA under PMJDY, fees and charges, and frequently asked questions.
Here are the features of ICICI BSBDA:
ICICI Bank Basic Savings Bank Account Interest Rate is between 3.00% and 3.50%. The bank calculates the interest daily. It will account for the daily closing balance and apply the interest rate. The amount of accrued interest is rounded off to the nearest rupee. Here are more details of the ICICI Bank savings account interest rate:
Here are the eligibility norms:
Here are the required documents:
Here are the details:
Here are the fees and charges for this ICICI Bank Savings Account:
Here are the frequently asked questions about ICICI BSBDA:
No charges apply for outward NEFT online. But if you do it from a branch, then Rs. 20 per transaction is chargeable for Rs. 2 lakhs to Rs. 5 lakhs. The fee is Rs. 45 per transaction if the NEFT amount is over Rs. 5 lakhs.
Every month, you can avail a free number of visits to the locker. After this, you have to bear Rs. 100 per visit. For regular variants, the free limit for visits is 2 per month. The same is 3 and 4 per month for silver variants and gold variants, respectively. There are charges for Magnum, Titanium, and Wealth Management customers.
You can send instant money up to Rs. 2 lakhs per transaction. The fee applicable is Rs. 15 per instance if the amount is Rs. 1 lakh to Rs. 2 lakhs. The fee is Rs. 5 per instance if the outward IMPS amount is below Rs. 1 lakh.
There are no charges for outward NEFT online. If the same happens through the branch, then the charges are as follows:
Here are the fees:
For PO-issue up to Rs. 10,000, the fee is Rs. 50. For the same over Rs. 10,000, the fee is Rs. 5 per Rs. 1,000 or part thereof. The minimum and maximum charges are Rs. 75 and Rs. 15,000, respectively. For students, senior citizens, and rural locations, the charge is Rs. 40 for PO of up to Rs. 10,000.
The same is Rs. 60 for amounts over Rs. 10,000 up to Rs. 50,000. Rs. 5 per Rs. 1,000 or part thereof for an amount over Rs. 50,000 with a maximum fee of Rs. 15,000. For PO value over Rs. 200, the fee for cancellation/revalidation/duplicate is Rs. 100 per instance.
For PO up to Rs. 50,000, the fee is Rs. 150. For PO over this amount, the fee is Rs. 5 per Rs. 1,000 or part thereof. The minimum and maximum fees are Rs. 150 and Rs. 15,000, respectively.
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