Everything About ICICI Zero Balance Saving Account Banks That You Need To Know!

Zero Balance Saving Account

When it comes to banking industry, there’s no private bank in India that has made such remarkable progress over the years, so much that it has acquired a spot in the top three banks in India. ICICI Bank has excelled in every segment, whether it’s a matter of securities or credit cards or loans or deposits. It has touched every segment of people by their quality products.

One such quality product is the Zero Balance Saving Account Banks, which helps people accumulate earn all their savings at one place and earn interest on them.

What are the Features of the ICICI Zero Balance Savings Bank Account?

No Minimum Balance: Let’s be honest, it sometimes gets really difficult to manage the minimum balance requirement stipulated by banks. Because sometimes, monthly expenses can go above the threshold, where you end up spending more. ICICI has addressed this problem by introducing the Zero Balance Savings Banks Account where the user has no pressure of maintaining required balance amount.

Free Rupay Card Facility: In these days, where everything is fast paced and digitising, who wants to go the traditional way to go to the branch to get cash or make payments by going to the branch. This is the reason why ICICI issues a debit card powered by RuPay to all customers with an ICICI Zero Balance Saving Account Banks. This is to enable them to get cash anytime and anywhere they want.

Free Cash Deposit/Withdrawal Facility: Unlike other banks, where after a certain number of transactions the bank charges you a fee for withdrawing/depositing money, ICICI Bank doesn’t charge you for withdrawing or depositing money from your account.

Free Passbook: You get entitled to a free passbook with the ICICI Zero Balance Savings Bank Account. Also, there are no charges to get your passbook updated for any number of times.

Interest Rates: Yes, even on the ICICI Zero Balance Account, you have the opportunity to make money by depositing your money. ICICI offers an interest rate of 4% on its Zero Balance Saving Bank Account.

Pradhan Mantri Jan Dhan Yojna: ICICI Bank is a proud member of Pradhan Mantri Jan Dhan Yojna (PMJDY), initiated by the government for financial inclusion purposes. ICICI Bank, under this scheme, opens savings bank account, free of cost, for all the excluded sections of the society i.e. the lower income groups. They are also issued free debit cards, passbook and cheque leaves to withdraw cash whenever they want without taking the trouble of visiting the branch.

How to Open an ICICI Zero Balance Savings Bank Account?

You have the option to take any of the routes, online or offline. For the online route, you have to apply for the savings bank account via ICICI bank’s official website. While for the offline route you have to visit to the nearest branch to apply for one. Before you apply just check if you meet the eligibility criteria. If you meet all the criteria, submit the necessary documents alongwith the application form and your account will be opened.

Eligibility Criteria for ICICI Zero Balance Saving Account Banks:

  • The applicant should be above 18 years of age.

  • NRIs are not eligible for this account.

  • The applicant shouldn’t have any other Savings Account with ICICI Bank.

  • The account is not available to individuals operating in the capacity of HUF kartas.

Documents Needed:

  • Identity Proof as per the bank’s list of acceptable documents.

  • Address Proof as per the bank’s list of acceptable documents.

  • Self attested Photograph and signature/thumbprint.

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