Saving Account FAQS

What is the minimum balance required to be maintained for a Bank Savings Account?

The minimum average quarterly balance required to be maintained for a Savings Account is Rs.10,000/- in metro and urban locations and Rs. 5,000/- in semi-urban and rural locations.

At what frequency will the interest be paid to me?

Interest earned on your Savings Account balance shall be credited to your account on a half yearly basis in the months of September and March.
In case of the linked Money Multiplier Account, the accrued interest on the FD's created will be paid on maturity or on withdrawal in case of premature withdrawal.

What is Money Multiplier facility?

A Money Multiplier Account allows you to set a minimum balance (subject to a minimum of Rs 10,000) to be maintained in your Savings Account. You can put in a request for the transfer of the excess of the minimum Savings Bank Account balance to Fixed Deposits in units of Rs 5,000 and for a period of one year or more, as specified by you. So you enjoy a higher effective rate of interest on your deposit

What are the eligibility criteria for opening an ICICI Bank Savings Account?

Resident Indian

What are nomination facilities available on a Savings Account?

Nomination facility available for bank deposits. There can be only one Nominee for a deposit account whether held singly or jointly.
A person legally empowered to operate a minor's account can file a nomination on behalf of the minor.

Whom can I include as Joint Applicants?

Anyone can be included as a joint applicant for a Savings Account except a minor (less than 18 years of age).
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