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Terms & Conditions

All standard terms and conditions for savings bank accounts as published on the ICICI Bank website at (“ Terms ”) for the establishment of a relationship and the opening and operating of savings bank accounts with ICICI Bank are applicable to the rural savings account. In addition to the Terms, the terms and conditions specific to the rural savings account (“ Special Terms ”) are as follows:

  1. For the purpose of the Special Terms, any reference to “ Saving Account ” shall mean the Rural Savings Account.

  3. For the purpose of the Special Terms, any reference to “ Customer ” shall mean the Rural Savings Accountholder.

  5. The Saving Account is a zero balance account and would not require maintenance of any minimum balance by the Customer.

  7. Chequebook facility, mobile banking facility, access to INFINITY, any where banking facility and Internet banking facility will not be extended to the Customers.

  9. Fee and Charges
    i. ICICI Bank will charge an annual maintenance fee for the Savings Account along with applicable taxes, as may be specified by ICICI Bank from time to time. 
    ii. Schedule of all fees and charges applicable to the Savings Account would be put up on the ICICI Bank website or would be communicated to the Customer in any mode as may be decided by ICICI Bank. 


  10. Transaction Charges
    i. For the Savings Account, the Customer will have a certain number of free transactions per month at the designated Business Correspondents location, any transaction over and above that will be charged along with applicable taxes on a per transaction basis. Any balance enquiry through the Business Correspondent shall not be considered while counting the free transactions.
    ii. No branch access shall be permitted except transactions for which the charges shall be levied upon the Customer. Any transaction at the base branch will be charged at a per transaction basis/ as amended by the ICICI Bank from time to time.
    iii. All banking transactions are chargeable at normal charges as decided and communicated by ICICI Bank from time to time.
    iv. Normal transaction charges for issuance/revalidation/cancellation of DD/PO will be levied.

  12. A Customer is not entitled to request for transfer of his/her Savings Account from one branch to another branch of ICICI Bank or from the designated Business Correspondent to another Business Correspondent.

  14. Standing instructions including for transferring funds from the Savings Account to Fixed Deposit or Recurring Deposit accounts by the Customer shall not be accepted by ICICI Bank or the designated Business Correspondent.

  16. Transactions involving levy of charges shall be informed to the Customer at the time of account opening. ICICI Bank shall endeavour to give notice adequately in advance in case of change in such charges and such notice, provided by ICICI Bank in the manner specified in the Terms or in any other manner whatsoever, of any changes in charges or any notice from ICICI Bank for payment of amounts at the changed rate(s), shall be treated as sufficient and reasonable notice to the Customer and ICICI Bank shall not be bound to issue any further notice of such changes to the Customer.

  18. Any government charges, duties or taxes, whether past present or future, whether direct or indirect, devolving from the provision of any facility shall, if imposed upon ICICI Bank (either directly or indirectly), be debited to the Customer's account.

  20. A cash withdrawal limit from the Saving Account would be set for the Customer, in accordance to the average balance maintained by all the Customers with the Business Correspondent. This limit will be communicated to the Customer from time to time. Any withdrawal by the Customer beyond the limit would have to be made 24 hours in advance.

  22. In the event of the account opened basis certification by the Business Correspondent as necessary KYC documentation, the following conditions would apply;
    i. In the event of the credit balance of the Customer crossing Rs 50,000/- and total credits crossing Rs.1,00,000/- per financial year, KYC documents as per ICICI Bank policy would be required to be submitted. A communication shall be sent to the Customer and the designated Banking Correspondent in the event of credit balance of the Customer crossing Rs 40,000/- and total credits crossing Rs.80,000/- per financial year. The Savings Account shall be frozen in event of credit balance of the Customer crossing Rs 50,000/- and total credits crossing Rs.1,00,000/- per financial year and the requisite KYC documentation not being undertaken. In the absence of providing the additional KYC documents, the Savings Account of the Customer will remain frozen for a period of sixty (60) days from the date of the communication, post that the Savings Account shall be closed.Such accounts have to updated their eKYC by providing the UID/VID to the Business Correspondent in order to keep the account operational.

  24. ICICI Bank, at its absolute discretion, may revise the fees/charges from time to time. The revised fee/charges will be published on ICICI Bank's website ICICI Bank will not provide any individual intimation/ communication in this regard to the Customer.

  26. ICICI Bank, at its absolute discretion, may revise the per transaction limit/ daily transaction limit from time to time. The revised limits will be published on ICICI Bank's website and communicated through the Business Correspondent.

  28. The Special Terms contained herein are in addition to and not in derogation of the Terms. However, in case of any inconsistency between these Special Terms and the Terms, these Special Terms will be applicable.

  30. ICICI Bank reserves the right to alter, amend or revise any policy, benefit or feature of the Savings Account as also alter any of these Terms and may notify the Customer of any changes to the Terms in any manner it considers appropriate.

  32. The Special Terms as specified herein and as amended by ICICI Bank from time to time, shall be deemed to have unconditionally agreed to and accepted by the Customer by performing a Transaction with the Business Correspondent

  34. All capitalized terms not defined herein shall have the meaning ascribed to it in the Terms and/or the terms and conditions for usage and issuance of e-passbook.  

Disclaimer:*ICICI Bank may, at its sole discretion, utilise the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products