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Savings Account
What are the eligibility criteria for opening Young Stars and Smart Star Account?
Young Stars Savings Account is available for children in the age group of 1day-18 years. The guardian can open and operate the account on behalf of the minor.
Smart Star Savings Account is available for minor customers above 10 years of age. Minor can independently open and operate the account.
What is Special about ICICI Bank Young Star and Smart Star Account?
With Young Star Account you can open and operate the account to plan your child’s need, right from a young age.
With Smart Star Account, minors above the age of 10, can open and operate the account all by themselves. This will inculcate habit of savings and a responsibility to spend wisely.
What are the key features of Young Stars Account?
The ICICI Bank Young Stars Account is exclusively designed to let your kid have a bank account with loads of fun. Besides checking account, your kids can surf through fun zones and special pages on Internet Banking. You can also directly transfer pocket money into your child's account.
Features of ICICI Bank Young Stars Account:
- The minimum average balance for a Savings Account is ?2,500
- Free personalised cheque book
- Free internet banking
- Free international debit card*
- Daily withdrawal and spends of up to ?2,500
- Funds transfer facility
To know more details of ICICI Bank Young Stars Account, please visit our website www.icicibank.com > Products > Accounts & Deposits > Savings Accounts > Types of Savings Account >Young Stars Account.
What are the transaction limits applicable to Smart Star Account?
Smart Star Savings Account with Guardian Consent – has a debit transaction limit of Rs. 2 Lacs in a financial year.
Smart Star Savings Account without Guardian Consent – has a debit transaction limit of Rs. 50000 in a financial year.
In case of breach of debit transaction limit account is frozen
What are the key features of Smart Star Account?
- Minor above the age of 10, can open and operate the account all by themselves.
- Free Personalised debit card with spend and withdrawal limit of Rs. 5000
- Personalised cheque book – cheques can be issued by the child
- Free Internet Banking access
- Free Mobile Banking Access
- Free email statement
- Pre-paid Mobile recharge facility
What is the minimum balance required to be maintained for Young Stars Savings Account?
The minimum Monthly Average Balance (MAB) to be maintained in Young Stars Savings Account is Rs. 2,500.
Charges for Non-maintenance of Minimum MAB (NMMAB) with effect from June 1, 2016:
5% of the shortfall in required MAB.
What are the transaction limits applicable to Young Star Account?
Young Star - Minor Under Guardianship Account is open and operated by the guardian. It has no transaction limits applicable.
What happens when the limits in the Smart Star account are breached?
When the applicable limits in the Smart Star account are breached, the Smart Star account is frozen. The customer (Minor) will be required to visit the branch and upgrade the variant to remove the freeze and avail higher limits. As higher limits are available with Smart Star - guardian consent account and Young Stars - under guardianship account, presence of parent is required.
