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Basic Savings Bank Account
Enjoy the advantage of zero balance requirement
Basic Savings Bank Account FAQs
What is the minimum balance required to be maintained for an ICICI Bank Basic Savings Bank Account?
There is no minimum monthly average balance requirement for Basic Savings Bank Account.
What documents do I need to submit for opening an ICICI Bank Basic Savings Bank Account?
Click here to view the documents required to submit for opening an ICICI Bank Basic Savings Bank Account?
What are the documents required for Basic Savings Bank Account?
Complete KYC documents
- Photo ID proof as per the Bank's acceptable list of documents. PAN Card issued in India is no longer considered a valid proof of identity.
- Address proof as per the Bank's acceptable list of documents
- A duly filled account opening form
- Declaration form, for basic Savings Account, filled by the customer.
Note: Accounts opened with complete KYC will not have a cap on credit transaction limits. All the other features will remain the same.
Self attested photograph and signature/ thumbprint
You can open a Basic Savings - Small Deposit Account, by submitting a self-attested photograph and signature/thumbprint, if:
- You are a resident individual, and you do not have complete KYC documents like:
- Photo ID proof as per the Bank's acceptable list of documents
- Address proof as per the Bank's acceptable list of documents
- At the time of account opening, if you are unable to provide complete KYC documents,
- you can provide evidence, within 12 months from the date of opening your account, of having applied for any KYC document as specified by ICICI Bank
- You can provide a valid KYC document, within 24 months from the date of opening your account
Credit freeze status
A Basic Savings - Small Deposit Account is tagged as ‘credit freeze’, if the customer fails to provide valid KYC documents, or the evidence of having applied for valid KYC documents to the Bank, within 12 months of opening the account.
- A Basic Savings - Small Deposit Account will be in a freeze state if:
- Value of all credits in the account during the financial year exceeds Rs 1,00,000, or
- Day end account balance exceeds Rs 50,000, or
- Total withdrawals in a month exceed Rs 10,000, or
- The customer is unable to submit valid KYC documents to the Bank, within 24 months of opening the account.
**New account opening under Basic Savings Bank Account with introduction, has been discontinued.
