ICICI Bank Young Stars Savings Account is for children from 1 day to 18 years of age. In this case, the minor’s parent or guardian can operate the account, and build wealth. The child can use internet banking to surf its sections and fun zones. You can also transfer pocket money to the kid’s account. Enjoy facilities such as multicity cheque book, e-statements, fund transfer, Money Multiplier Scheme, Debit Card, personal accident insurance, purchase protection cover, and more.
In this post, we will discuss ICICI Bank Young Stars Savings Account features, interest rates, eligibility criteria, documents required, fees and charges, and frequently asked questions.
Here are these ICICI Bank Savings Account features:
ICICI Bank Young Stars Savings Account Interest Rates 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 documents to need to open this ICICI Bank Savings Account:
Here are more details:
The charges for outstation cheque collection at ICICI Bank branch locations and non-ICICI Bank branch locations are as follows:
Here are the frequently asked questions:
In a month, the first 3 financial and non-financial transactions are free in 6 metro locations (Chennai, Mumbai, Bengaluru, New Delhi, Hyderabad, and Kolkata). For other locations, the limit for free transactions in a month is 5. After this limit, per financial transaction, the cost is Rs. 20. The same is Rs. 8.50 for a non-financial transaction.
In a month, you have to bear no charges for the first 5 financial transactions such as cash withdrawal. After this, every financial transaction costs Rs. 20 per instance. There is no cost for a non-financial transaction (pin change, balance inquiry, mini statement, etc). These charges are also applicable for transactions at cash recycler machines.
The daily limit for withdrawal on Debit Card is up to Rs. 5000. The daily limit for spending cash on the Debit Card is up to Rs. 2,500.
No charges for 25 cheque leaves in a year. After this, every additional cheque book containing 10 leaves will cost Rs. 20. There are no fees for multicity cheque payments.
SMS alerts are applicable only for transactions over Rs. 5,000. The charges for this facility are Rs. 15 per quarter.
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