Savings Account

What is the eligibility for opening an Insta Save Account?

Insta Save Account is available for resident individual above the age of 18 years and up to 60 years.

How is the minimum Monthly Average Balance (MAB) calculated?

The Monthly Average Balance (MAB) is calculated on a simple average of day-end balances for a calendar month. The MAB is calculated by adding the closing ledger balance of the account of each day from the start of the month to the end of the month. Then the total sum amount is divided by the number of days in that month.

Is there a fee to withdraw from Insta Save Account ?

No, there are no fees applicable while withdrawing from your Savings Account.

What all features are available once my Insta Save Account is opened?

  • Platinum Visa Debit Card with exciting offers and Visa Privileges
  • Free Internet Banking and Mobile Banking
  • Free multi-city cheque book
  • Free e-mail statement facility
  • Enjoy 5 free ATM withdrawals at any bank ATM every month
  • Get air accident insurance and purchase protection insurance of Rs 50,000 each with Insta Save Accounts
  • Experience 24x7 banking access with the best mobile banking app in India, iMobile* and Internet Banking services
  • Exciting offers on restaurants near you, online shopping – electronics, groceries, apparels and accessories, travel and much more with Insta Save Accounts

Is there a monthly fee for Insta Save Account?

No, there is no monthly fee. You have to maintain a minimum Monthly Average Balance (MAB) of Rs 10,000 if you open an Insta Save Account and no minimum monthly balance is required in the case of Insta Save FD.

Can I get cheque book by opening Savings Account?

Your Cheque book will be issued only upon request, after you have successfully completed your KYC verification. You can request for the Cheque book by logging in to ICICI Bank Internet Banking or the iMobile Pay app. Go to Services-Cheque Book Services-Issue Cheque Book from iMobile Pay app. Go to Bank Accounts-Accounts-Cheque Book Request from Internet Banking.

Can you explain the verification process to me?

Post your account opening, while you can start enjoying our account benefits, you will receive a call from our Sales Officer who will set an appointment with you whenever you are available to complete your biometric KYC verification.

Do I get a Debit Card with Insta Save Account?

Yes. You will be receiving a Debit Card on your communication address once your account is successfully opened.

Is PAN card mandatory for Insta Save Account?

Yes, PAN card is mandatory to open your Insta Save Account.

What is an Insta save account?

Insta Save Account is an Aadhaar based instant Savings Account for our customers who do not have any existing Savings Account with ICICI Bank.

How to open Insta Save Account?

You can open Savings Account (Insta Save Account) online by downloading our iMobile or by visiting us online.

I am a Senior Citizen, do I still need to maintain a 10k balance if I open an Insta Save Account?

Yes, 10k balance is mandatory in Insta Save Account. Although you can open an Insta Save FD and enjoy no balance commitment account.

Can Insta Save Account be a joint account?

Insta Save Account is intended to be for single holding purposes and cannot be held jointly.

How do I register for Internet Banking and Mobile Banking services?

Once your account is successfully opened, you can log in to iMobile, set your 4-digit passcode and start exploring. For Internet Banking, you can generate your password with your User ID provided after account opening.

Why do I need to add a Nominee to my account?

It is important to appoint a nomineefor all your assets so that the assets reach the right person in the unfortunate event of your death. The nominee you select must be a reliable person who can take care of the asset. Below are the rights of the nominee:

  • He has no right over your money unless specified under the will or if he/she inherits the money.
  • Nominee is a mere custodian.
  • He is the contact person for the account, in case the account holder is not reachable or in an event of the account holder’s death.
  • The nominee directs the court on how to go about the account in case of the account holder’s demise.
  • At the time of claiming for the deposit, the nominee will have to provide identification proof.
  • If the nominee is a minor, the guardian will sign on his/her behalf. We require the nominee’s and the guardian’s name, address and photograph.

What is FATCA declaration?

FATCA stands for Foreign Account Tax Compliance Act. As per RBI guidelines, all banks have to collect FATCA from every customer who opens a Savings Account with us. FATCA came into being to combat tax evasion and to ensure strict adherence to tax rules. Its main objective is to identify and prevent offshore tax avoidance by US citizens or residents.

Can I save and continue my application later?

Yes, you can! You would get an application number which you can use to continue your application anytime, from where you left off.

I do not have an Aadhaar number. Can I still apply for an Insta Save Account?

We request you to get your Aadhaar card made as Insta Save Account can be opened only if Aadhaar details are provided.

Is my information secure?

Yes, your information is completely secure with us. Security of your personal and banking information is of utmost importance to us.

How do I access my Virtual Debit Card on iMobile?

  1. Click on Debit Card on home page
  2. Get details of your Virtual Debit Card
  3. Select your card and manage all services