ICICI introduces the Basic Savings Account, a great way for beginners to get acquainted with the habit of saving and also develop an understanding about handling finances. This is a zero balance savings account, which means that you needn’t maintain a minimum balance in this account. But that’s just one of the many features of this account. Read on to find out more.
|Category||Basic / Zero Balance Savings Account|
|Minimum Balance Requirement||Nil|
|Interest Rate||4.00%, payable on a half-yearly basis.|
|Card Offered||ICICI Bank Debit Card|
Services Offered by ICICI Basic Savings Account
Features of ICICI Basic Savings Account
|ATM Transaction Charges (ICICI & non-ICICI ATMs)||First 5 transactions (financial & non-financial) free of charge.|
|Cheque book||One cheque book is provided free of charge.|
|Cash Transactions||First 4 transactions are free of charge.|
|Cash Deposit Facility||Unlimited cash deposit transactions allowed at base branches.|
|Debit Card Charges||No additional charges levied on the ICICI Bank Debit Card|
|Debit Card Transaction Limit||Daily spending limit – Rs 10,000; Daily Withdrawal limit – Rs 10,000|
Fees & Charges of ICICI Basic Savings Account
|Cash Deposit Charges||No charge for transactions done at base branches. A fee of Rs 90 shall be charged per transaction for non-base branches.|
|Cash Withdrawal Charges (at base branches)||In a month, first 4 withdrawals are free of charge. Thereafter a fee of Rs 90 is chargeable.|
|Cash Withdrawal Charges (non-base branches)||Rs 90 per transaction.|
|ATM transactions (ICICI & non-ICICI ATMs)||
First 5 transaction are free of charge. Thereafter, charges of Rs 20 (for financial transactions) and Rs 8.50 (for non-financial transactions) apply.
|Debit Card Fee||Nil|
|SMS Alerts Charge||Rs 15 per quarter.|
|Multi-city cheque payment Charges||Nil|
|Cheque Book Issue||Rs 20 per additional cheque book.|
|Outstation Cheque Collection Charges||
Up to Rs. 5,000 - Rs. 25 per instrument;
Rs. 5,001 to Rs. 10,000 - Rs. 50 per instrument;
Rs. 10,001 to Rs. 1 lakh - Rs 100 per instrument and above Rs. 1 lakh - Rs. 200 per instrument.
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