ICICI Bank Insta Save Account, ICICI Zero Balance Account, Instant Savings Account opening ICICI.
Open an ICICI Bank savings account within 4 minutes from home. ICICI bank Insta Save Account is technically a zero balance savings account but there is some T&C so let’s discuss. You can open this account from home using Aadhaar & PAN Card details.
Features and Benefits of ICICI Bank Insta Save Account
- You can Open your Insta Save Account instantly online,
- Exciting offers on restaurants near you; online shopping – electronics, groceries, apparel, and accessories; travel and much more with Insta Save Accounts,
- You will get a Platinum Visa Debit Card and earn reward points on spending,
- Enjoy 5 free ATM withdrawals at any bank’s ATM every month,
- You will get air accident insurance of Rs. 50,000 with Insta Save Accounts
- Free monthly email statements,
- Experience 24*7 banking access with the best mobile banking app in India, iMobile*, and Internet Banking services.
Read More – DCB Happy Savings Account
Eligibility
- Instant Save is available for individual customers above the age of 18 years,
- Applicable for Resident Indian individuals only.
Documentation
Documents needed for ICICI Bank Insta Save Account:
- PAN Card
- An Aadhaar Card is registered with a mobile number.
- Personal mobile number.
Types of ICICI Insta Save Account
There are two types of Insta Save Accounts available –
- Insta Save Account
- Insta Save FD Account
Insta Save Account | Insta Save FD Account | |
---|---|---|
Available to | Resident Indian Individuals, 18 to 60 years of age | Resident Indian Individuals, 18 to 60 years of age |
Minimum monthly average balance (MAB)* | Rs. 10,000 | Nil. Provided the customer mandatorily opts for a Fixed Deposit of Rs. 10,000 for 1 year |
Charges for non-maintenance of minimum monthly average balance (NMMAB) | Rs. 100 + 5% of the shortfall in required MAB | Not Applicable |
Cash Transaction Charges(Cumulative of Deposit and Withdrawal)(with effect from Dec 15, 2019) | 1) Number Limit (Sum total of deposits and withdrawals) 4 free cash transactions per month. Charges above free limits: Rs 150 per transaction. 2) Value Limit (Sum total of deposits and withdrawals) The value limit is inclusive of both Home and Non-home branch transactions. a) Home Branch (Branch where the account is opened or ported) Rs 2 lakh. Free per month per account. Above Rs 2 lakh – Rs 5 per Rs 1,000, subject to a minimum of Rs 150 b) Non-Home branch – No charges for cash transactions value up to Rs 25,000 per day. Above Rs 25,000 – Rs 5 per Rs 1,000 subject to a minimum of Rs 150 3) Third party Cash transaction (Sum total of deposits and withdrawals) – Up to a limit of Rs 25,000 per day – Rs 150 per transaction. Above Rs 25,000 is not allowed. | 1) Number Limit (Sum total of deposits and withdrawals) 4 free cash transactions per month. Charges above free limits: Rs 150 per transaction. 2) Value Limit (Sum total of deposits and withdrawals) The value limit is inclusive of both Home and Non-home branch transactions. a) Home Branch (Branch where the account is opened or ported) Rs 2 lakh. Free per month per account. Above Rs 2 lakh – Rs 5 per Rs 1,000, subject to a minimum of Rs 150 b) Non-Home branch – No charges for cash transactions value up to Rs 25,000 per day. Above Rs 25,000 – Rs 5 per Rs 1,000 subject to a minimum of Rs 150 3) Third party Cash transaction (Sum total of deposits and withdrawals) – Up to a limit of Rs 25,000 per day – Rs 150 per transaction. Above Rs 25,000 is not allowed. |
Additional Cash Transaction Charges (with effect from Oct 16, 2019) | All free cash transactions at ICICI Bank branches or cash deposits done at ICICI Bank Cash Recycler Machines will be charged at Rs 100 (per transaction) for the first two transactions and Rs 125 (per transaction) for any subsequent transaction in case of non-maintenance of applicable minimum Monthly Average Balance (MAB) stipulated in the terms and conditions applicable to your account. This charge will be levied over and above the non–maintenance MAB charges stipulated in terms and conditions applicable to the account. | All free cash transactions at ICICI Bank branches or cash deposits done at ICICI Bank Cash Recycler Machines will be charged at Rs 100 (per transaction) for the first two transactions and Rs 125 (per transaction) for any subsequent transaction in case of non-maintenance of applicable minimum Monthly Average Balance (MAB) stipulated in the terms and conditions applicable to your account. This charge will be levied over and above the non–maintenance MAB charges stipulated in terms and conditions applicable to the account. |
ATM Interchange (Transactions at Non-ICICI Bank ATMs) | First 3 transactions (inclusive of financial and non-financial) in 6 metro locations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad) in a month – Free First 5 transactions (inclusive of financial and non-financial)in all other locations in a month – Free Maximum of 5 trxns free in a month with a cap of 3 free trxns in 6 metro locations Thereafter, Rs.20 per financial transaction and Rs. 8.50 per non financial transaction | First 3 transactions (inclusive of financial and non-financial) in 6 metro locations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad) in a month – Free First 5 transactions (inclusive of financial and non-financial)in all other locations in a month – Free Maximum of 5 trxns free in a month with a cap of 3 free trxns in 6 metro locations Thereafter, Rs.20 per financial transaction and Rs. 8.50 per non financial transaction |
Transactions at ICICI Bank ATMs / Cash Recycler Machines (cash withdrawals)(with effect from Dec 15, 2019) | First 5 Financial transactions free in a month; thereafter, Rs.20 per financial transaction All Non-Financial transactions free. (Financial transaction includes – Cash Withdrawal; Non Financial transactions include – Balance Inquiry, Mini statement & Pin change) | First 5 Financial transactions free in a month; thereafter, Rs.20 per financial transaction All Non-Financial transactions free. (Financial transaction includes – Cash Withdrawal; Non Financial transactions include – Balance Inquiry, Mini statement & Pin change) |
Issue of DD drawn on ICICI Bank by cheque/transfer(w.e.f. July 01, 2019) | Rs.50 per D.D. up to Rs.10,000;Rs.5 per thousand rupees or part thereof for DD of more than Rs.10,000, subject to a minimum of Rs.75 and maximum of Rs. 15,000 | Rs.50 per D.D. up to Rs.10,000;Rs.5 per thousand rupees or part thereof for DD of more than Rs.10,000, subject to a minimum of Rs.75 and maximum of Rs. 15,000 |
Statement | Free monthly e-mail statement Free monthly statement to be collected from branch Passbook facility available at base branch free of cost View and download statement facility available on the website | Free monthly e-mail statement Free monthly statement to be collected from branch Passbook facility available at base branch free of cost View and download statement facility available on the website |
Debit Card Fees for first Account Holder | Rs.150 p.a. | Rs.150 p.a. |
Debit Card Cash withdrawal limit | Domestic transaction limit – Daily spending/withdrawal limit: Rs.100,000/ Rs.50,000 International transaction limit – Daily spending/withdrawal limit: Rs.100,000/ Rs.50,000 | Domestic transaction limit – Daily spending/withdrawal limit: Rs.100,000/ Rs.50,000 International transaction limit – Daily spending/withdrawal limit: Rs.100,000/ Rs.50,000 |
Cheque Books (w.e.f. July 01, 2019) | Nil for 20 payable-at-par cheque leaves in a year; Rs. 20 for every additional cheque book of 10 leaves | Nil for 20 payable-at-par cheque leaves in a year; Rs. 20 for every additional cheque book of 10 leaves |
Charges for Multicity cheque payment | Nil | Nil |
Value Added SMS alert facility | Rs. 15 per quarter | Rs. 15 per quarter |
How to open an Instant Savings Account (Insta Save Account)?
- Go to the Savings Account Online page
- Enter your PAN, Aadhaar and other relevant details
- Your Insta Save Account is ready
Bottomline
So, ICICI Bank offers an Insta Save Account for its new customers so that in this lockdown situation needy people can open an account instantly. It comes in two variants 1. Insta Save Account & 2. Insta Save FD Account. If you need a zero balance account then you can go for SBI YONO Insta Saving Account.