ICICI Bank Regular Savings Account

ICICI Bank Regular Savings Account
Monthly Average Balance (MAB)
  • Rs. 1,000 for Gramin locations
  • Rs. 2,000 for rural locations
  • Rs. 5,000 for semi-urban locations
  • Rs. 10,000 for metro and urban locations
Interest Rate 3.00% to 3.50%
Debit Card Smart Shopper Silver Debit Card with VISA Privileges and other offers

ICICI Bank Regular Savings Account gives you access to anywhere banking at your convenience. It has the facility for bill payments, balance enquiry, money multiplier, mobile banking, internet banking, customer care, fixed deposit, and a lot more. For balance below Rs. 50 lakhs and over Rs. 50 lakhs at the end of the day, the interest rate is 3.00% and 3.50%, respectively.

In this post, we will discuss ICICI Bank Regular Savings Accounts features, eligibility criteria, documents required, fees and charges, and frequently asked questions.

Features of ICICI Bank Regular Savings Account

Here are the details:

  • Get Silver Debit Card for online shopping, cash withdrawal from ATM, or use it at any MasterCard/VISA machine
  • Manage your account anytime and from anywhere with internet banking, ATMs, and iMobile App
  • Auto-sweep out facility to multiply money. Get higher interest on the amount transferred from account to the FD (Fixed Deposit) acc.
  • Receive free email statements
  • Free multi-city cheque book
  • You can give Standing Instructions
  • ICICI Bank Regular Savings Account interest rate is up to 3.50%
  • You need to nominate a person to function as a beneficiary to the acc.
  • The nomination facility is for accounts that are held singly or jointly
  • Now enjoy paying bills with the Bill Pay facility from your comforts
  • A complimentary personal accident insurance
  • Also avail of purchase protection cover on the SB account
  • DO banking from any of the ICICI Bank branches
  • You can contact customer care over calls for queries or to give banking related instructions

ICICI Bank Regular Savings Account Eligibility Criteria

Here are the norms:

  • You can open the savings account if you are a resident individual. Both sole and joint opening is possible
  • HUF (Hindu Undivided Family) and Foreign national customers over 18 years of age can also opt for this acc.
  • Those over 60 years of age can rather choose a seniors Club Savings Account, while minors can go for a Young Stars Savings Account

Documents Required for ICICI Bank Regular Savings Account

Here are the documents to submit for account opening:

For identity proof, you may provide any of the following –

  • Voter ID Card
  • Passport
  • Valid Driver Licence
  • Letter from National Population Register
  • Job Card by the NREGA signed by a State Government Officer
  • Aadhaar Card or Proof of possession of one

For address proof, submit one of the following –

  • The latest copy (not older than a year) of Municipal Tax Receipt or Property Tax Bill
  • Government or public sector undertaking issued family or personal pension payment orders for retired employees. This proof must contain the address
  • Not older than 2 months utility bill for telephone/electricity/piped gas/post-paid mobile phone/water bill
  • Leave and licence agreement that has customer’s name as employee
  • Allotment letter for accommodation from the employer. It should be issued by the concerned public sector undertaking, central/state government depart, regulatory or statutory body, financial institution, scheduled commercial bank, and listed companies

Fees and Charges for ICICI Bank Regular Savings Account

Here is more information:

Non-ICICI Bank ATM Interchange Transactions)
  • Including financial and non-financial transaction is free for the first 3 instances (per month) in 6 metro places such as New Delhi, Kolkata, Chennai, Mumbai, Hyderabad, and Bengaluru
  • Up to 5 transactions in a month free with a cap of 3 transactions free in 6 metro places. After this, Rs. 8.50 applies per instances for non-financial transaction and Rs. 20 per instance for financial transaction
Cash Recycler Machines (cash withdrawals)/Transactions at ICICI Bank ATMs
  • In a month, get the first 5 financial transactions at no cost. After this, Rs. 20 applies per transaction.
  • If you make non-financial transactions, they are free of any charges
Demand Drafts drawn on ICICI Bank by transfer/cheque
  • For DD up to Rs. 10,000, the charge is Rs. 50 per instance
  • For DD of Rs. 1,000 or part thereof for above Rs. 10,000, the fee is Rs. 5. But the minimum fee is 75, and maximum is Rs. 15,000
  • For rural areas, DDs up to Rs. 10,000, the fee is Rs. 40. For DDs over Rs. 50,000 the charge is Rs. 5 per Rs. 1,000 or part thereof with maximum charge Rs. 15,000
Debit Card Fees for joint account holder and first account holder For gramin locations it is Rs. 99 per annum, but for other locations it is Rs. 150
Cash withdrawal limit on Debit Card Daily withdrawal and spending for domestic transactions is Rs. 50,000 and Rs. 1 lakh, respectively. It is the same for international transaction
Cheque Books Free cheque book every year of 20 leaves. Thereafter, it is Rs. 10 for 10 leaves
Value added SMS alert facility if the transaction value is more than Rs. 5,000 Rs. 15 per quarter
Outstation cheque collection through non and home bank branch
  • Rs. 25 per instrument for cheque amount up to Rs. 5,000.
  • Rs. 50 per instance for cheque amount of Rs. 5,001 to Rs. 10,000
  • Rs. 100 per instrument for an amount of Rs. 10,001 to Rs. 1 lakh
  • Rs. 200 per instrument for an amount over Rs. 1 lakh

FAQs on Regular Savings Account ICICI Bank

Here are the frequently asked questions:

Customers can ask for the transfer of their savings account from an existing ICICI Bank branch to another. The person may drop a request for the same through customer care or internet banking. Also, the individual can submit a written request for account portability to the nearest bank branch. The bank will make the transfer in 2 working days without changing the acc. number, suspending account operations, or asking to surrender the chequebook or Debit Card.
You can make the initial 5 transactions free-of-cost. These include non-financial and financial transactions in a month. After the free limit, charges will apply per transaction.
If you have the account in any gramin location, then you have to pay 5% of the required minimum MAB shortfall. The same is Rs. 100 + 5% of the shortfall in the minimum MAB.

Here is more information:

  • You can make 4 cash transactions free in a month. This is for deposits and withdrawals together. You have to pay a charge of Rs. 150 per transaction for transactions over free limits.
  • The value limit for deposits and withdrawals together for home branches is Rs. 2 lakh per month and per account. There are no charges. Over this limit, you have to pay Rs. 5 per Rs. 1,000 with Rs. 150 being the minimum charge.
  • At non-home branches, there are no charges for the value of transactions that is up to Rs. 25,000 per day. Over this limit, you have to bear a charge of Rs. 5 per Rs. 1,000, where the minimum charge is Rs. 150.
  • The charges for cumulative cash transactions for third-party up to Rs. 25,000 per instance is Rs. 150.
Rs. 100 per transaction is for the first two transactions. This is true for all free cash transactions and cash deposits at the bank branches and ICICI Bank Cash Recycler Machines, respectively.

Other Banks Savings Accounts