ICICI Bank Current Accounts for Domestic Business

ICICI Bank offers 8 variants of the current account for individuals running domestic businesses. They are as follows:

1. New Start up Current Account

ICICI Bank's iStartup current account has been developed specifically for those looking to start a new business. The following are the features and benefits of the account:

1. The monthly average balance to be maintained in this account is Rs.25,000. However, the account is a zero balance account for the first 6 months. The bank charges a fee of Rs.1,000 per month for non-maintenance of the monthly average balance.
2. Account holders can make unlimited withdrawals at their home branch and upto Rs.50,000 per day at a non-home branch.
3. The bank provides account holders with 100 free cheque leaves each month.
4. Additional services include providing salary solutions to the account holder's employees, customised payment solutions, Forex services, and a dedicated Relationship Manager

2. Shubhaarambh Current Account

The Shubhaarambh Current Account is an account designed for startups. The following are the features and benefits of the account:

1. Account holders are not required to maintain a monthly average balance for the first 6 months from opening the account. From the 7th month onwards, the account holder is required to maintain an average monthly balance of Rs.25,000. Non-maintenance of the monthly average balance results in a penalty fee of Rs.1,000 per month.
2. Account holders receive 100 free cheque leaves per month.
3. Other benefits include free internet banking facilities, a waiver for the first year on the debit card fee, and free unlimited withdrawals from the home branch.

3. Smart Business Account

The Smart Business Account adjusts itself to the business cycle of the account holder. It provides the account holder with the flexibility by providing free limits on the balance maintained in the account. The following are some of the features and benefits:

1. The minimum average balance to be maintained in a Smart Business Current Account is Rs.25,000. The account has the advantage of monthly free limits on maintaining the minimum average balance. The bank charges a fine of Rs.1,000 per month for non-maintenance of the minimum average balance.
2. The bank also provides Smart Business Account holders with the benefit of 200 free transactions on both cash and non cash type.
3. Other services provided by the bank include, free unlimited cheque collection and cheque payments and free internet and mobile banking facilities.
4. Account holders have the added benefit of switching to other variants of the current account without incurring any charges for the shift.

4. Smart Business Account - Gold

The Smart Business Account - Gold is an extension of ICICI Bank's Smart Business Account. It comes with a number of facilities including loan and locker services. The following are some of its features and benefits:

1. The Smart Business Account Gold requires the account holder to maintain a monthly average balance of Rs.1 lakh. Non-maintenance of the minimum monthly average balance attracts a charge of Rs.3,000 per month.
2. Customers who hold the Smart Business Account Gold are eligible to make up to 300 free cash withdrawal and deposit transactions every month.
3. Account holders receive 300 free cheque leaves each month.
4. Smart Business Account Gold customers locker facilities and auto loans at discounted rates.

5. Roaming Current Account Gold

This type of current account is best suited for mid-size retailers. The following are some of the features and benefits of the account:

1. Account holders are required to maintain a monthly average balance of Rs.1 lakh. Non-maintenance of the monthly average balance attracts a penalty charge of Rs.2,000.
2. Account holders receive 200 free cheque leaves every month.

6. Roaming Current Account Premium

The Roaming Current Account Premium is another variant of the Roaming Current Account. The following are some of its features and benefits:

1. Account holders are required to maintain a monthly average balance of Rs.50,000. Non-maintenance of the monthly average balance attracts a penalty charge of Rs.1,500.
2. Account holders receive 100 free cheque leaves every month.

7. Roaming Current Account Classic

Another variant of the Roaming Current Account is the Roaming Current Account Classic. The following are some of its features and benefits:

1. Account holders are required to maintain a monthly average balance of Rs.25,000. Non-maintenance of the monthly average balance attracts a penalty charge of Rs.1,000.
2. Account holders receive 50 free cheque leaves every month.

8. Roaming Current Account Standard

The Roaming Current Account Standard is another variant of the Roaming Current Account. The following are some of its features and benefits:

1. Account holders are required to maintain a monthly average balance of Rs.10,000. Non-maintenance of the monthly average balance attracts a penalty charge of Rs.750.
2. Account holders receive 25 free cheque leaves every month.

From the above mentioned current accounts, it is evident that ICICI Bank has crafted current accounts that are suitable for almost any type of customer.

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