ICICI Bank Pockets Savings Account

ICICI Bank Pockets Savings Account
Minimum Monthly Average Balance
  • NIL for account holders between 18 and 25 years of age
  • Rs. 5,000 for customers over 25 years of age
Interest Rate 3.00% to 3.50%
Debit Card Customized Pockets Debit Card

ICICI Bank Pockets Savings Account offers convenient online banking through mobile as well as computer. This account provides customers with a unique and customized set of offers through debit cards and many other benefits of online shopping. It is a true digital account with a futuristic approach to banking. You will receive a customized Pockets Debit Card. You can deposit and withdraw cash at a non-base branch as well. There is a facility of NEFT, RTGS, and many more.

In this post, we will discuss ICICI Bank Pockets Savings Account features, eligibility, transaction charges, value-added services, and frequently asked questions.

Features of ICICI Bank Pockets Savings Account

Here are the features of this ICICI Bank Savings Account:

  • The bank has lowered the minimum monthly average balance requirements to NIL for customers in the age group of 18 to 25.
  • Any customer above the age of 25 years shall be required to maintain a minimum monthly average balance of Rs. 5000.
  • Customized ATM cum debit card.
  • Same user ID for pockets accounts like that in saving accounts.
  • Get an e-statement facility through email at no cost.
  • 10 leaves free of cost cheque book once a year.
  • Upgrade your debit card anytime to an ICICI Expressions card.
  • Through a unique facility called “I-Wish”, you can achieve your goals.

ICICI Bank Pockets Savings Account Charges and Important Points

Here is what you should know more:

  1. Eligibility: All Indian Residents over the age of 18 years are eligible to open an account under this scheme.
  2. Interest Rate: 3.00% is the rate of interest for an end-day balance below Rs. 50 lakhs. 3.50% is the rate of interest for an end-day balance over Rs. 50 lakhs.
  3. Cash Transaction Charges: You can deposit or withdraw money at the base branch free of cost for a total of 4 instances in a month after which a transaction fee of Rs. 90 per transaction shall be charged by the bank. The maximum limit for the account holder can be any amount, whereas, for third-party transactions, the limit is Rs. 50,000 only. After November 2015, the free number of transactions for a month is 4. However, charges @ Rs. 5 per thousand of the transaction shall be charged by the bank subject to a minimum of Rs. 150.
  4. Cash Deposit Charges: Charges for cash deposit out of the base branch: If the customer or any representative of the customer deposits cash at a branch other than the base branch or cash deposit machine outside, the following charges shall be levied:
    • Rs. 5 per thousand rupees deposited with a minimum of Rs. 150 per transaction, if the transaction is done at the branch. The maximum third-party deposit is Rs. 50,000 per day however the account holder can deposit any amount of cash anywhere in the country.
    • If the transaction is being done at a cash deposit machine, NIL Charges shall be applied for the first transaction. However, Rs. 5 per thousand shall be charged for every transaction with a minimum of Rs. 150 per transaction.
  5. ATM Transaction Charges: 5 transactions (both financial as well as non-financial) per month are free, after which a charge of Rs. 20 per financial transaction and Rs. 8.50 per non-financial transaction shall be charged by the bank for transactions in ICICI Bank ATMs.
  6. Statement: Bank does not charge any fee for statements. You shall receive free e-statements every month on your email for your ICICI Bank Pockets Savings Account. You can collect the statement from the base branch once a month for free of cost. The bank also provides a passbook facility against NIL Charges. The statement can be viewed as well downloaded free of cost from the website.
  7. Debit Card Charges: The bank shall levy a charge of Rs. 150 per card per year for primary as well as other account holders.
  8. Cheque Book: The bank provides a free-of-cost cheque book of 20 leaves once in a quarter after which a fee of Rs. 20 per cheque book of 10 leaves shall be charged by the bank.
  9. SMS Alert Facility: This facility shall be chargeable @ Rs. 15 plus taxes per quarter.
  10. Outstation Cheque Collection Charges: The bank charges a fee on outstation cheques through ICICI bank branches as well as non-ICICI bank branches as detailed below:
    • Rs. 25 per instrument for a cheque of up to Rs. 5000
    • Rs. 50 per instrument for a cheque of Rs. 5001 to Rs. 10,000
    • Rs. 100 per instrument for a cheque of Rs. 10001 to Rs. 100,000
    • Rs. 50 per instrument for a cheque of more than Rs. 100,000
  11. Cash Withdrawal at Non-Base Branch: The bank does not charge any fee for the first cash withdrawal from any branch other than the base branch for any withdrawal being made by the account holder or any of his representatives. Subsequently, a fee of Rs. 5 per thousand shall be charged by the bank with a minimum of Rs. 150.
  12. ATM transactions Other Than ICICI Bank: Rs. 20 per financial transaction and Rs. 8.50 per non-financial transaction shall be charged by the bank for transactions in non-ICICI Bank ATMs after reaching the free limit of transactions. The free limit of transactions (financial as well as non-financial) shall be as below:
    • 6 metro cities (Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Hyderabad): 3 transactions per month
    • Other cities: 5 transactions per month
    • Maximum 5 free transactions per month with a limit of 3 transactions per month in metros.

Frequently Asked Questions about ICICI Bank Pockets Savings Account

Here is this ICICI Bank Savings Account FAQs:

The bank shall charge a fee of Rs. 50 per DD for an amount up to Rs. 10,000 after which the bank shall charge a fee of Rs. 3 per thousand with a minimum of Rs. 75 and maximum Rs. 15,000.

Rs. 5000 is required to be maintained in the account. However, the bank does not stipulate the same for eligible customers up to the age of 25.

Here are the details:

  • Domestic: per day shopping limit of Rs. 1 lakh and withdrawal limit of Rs. 50 thousand
  • International: per day shopping limit of Rs. 1 lakh and withdrawal limit of Rs. 50 thousand
  • NIL cheque book charges and cash transaction charges at the branch for non-maintenance of minimum monthly average balance.

NIL Charges for inward NEFT as well as RTGS.

NEFT/ RTGS Charges for an outward transaction:

  • Rs. 2.50 per transaction for an amount up to Rs. 10 thousand
  • Rs. 5 per transaction for an amount more than Rs. 10 thousand and up to Rs. 1 lakh
  • Rs. 15 per transaction for an amount more than Rs. 1 lakh and up to Rs. 2 lakhs
  • NEFT more than Rs. 2 lakh- Rs. 25 per transaction
  • RTGS more than Rs. 2 lakh and up to Rs. 5 lakh- Rs. 25 per transaction
  • RTGS more than Rs. 5 lakh- Rs. 50 per transaction