The minimum balance required to open a Regular Savings Account in ICICI Bank is Rs. 10,000 in metro and Urban locations , Rs. 5,000 in Semi Urban and Rs. 2,000 in Rural locations.
Can we maintain zero balance in ICICI Bank?
Conclusion on ICICI Bank zero balance account
After the account is opened, customers do not have to keep any minimum balance . The bank offer free cheque book, debit card and a host of other facilities.
How can I know my Icici minimum balance?
- Internet Banking: Logged in section – My View > My Relationships > Accounts > Monthly Average Balance details.
- Mobile Banking: Accounts & Deposits > Savings Account No. > ...
- Call our Customer Care to know your MAB details.
Which bank has lowest minimum balance?
| List of Savings Account Banks Minimum Balance Required(INR) Savings Account Interest Rates (p.a.) | ICICI Bank 0/1000/2000/2500/5000/10000 3.00% – 3.50% | IDBI Bank 500/2500/5000 3.30% – 3.80% | IDFC Bank 25000 6.00% – 7.00% | Indian Bank 250/500/1000 3.00% |
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What happens if we do not maintain minimum balance in ICICI Bank?
Starting April, ICICI Bank will charge a penalty of Rs 350 for non-maintenance of a minimum monthly balance. The bank earlier charged Rs 750 in a quarter. ... If the minimum balance is not maintained, the charge for a cash transaction has been increased to Rs 100 , after two free transactions at the home branch.
How can we avoid minimum balance charges?
You can open a zero balance account by completing the know your customer (KYC) formalities , and the biggest advantage of such accounts is that there is no need to maintain a minimum balance. “Most banks offer a zero balance account where the MAB you need to maintain on both a monthly and a quarterly basis is zero.
Can I convert Icici savings account to zero balance account?
ICICI Bank to Charge Zero Balance Account Holders Rs 100- Rs 125 Per Transaction From October 16 . If the bank’s revised terms and conditions are not acceptable to the customers, they can convert their Savings Account to a Basic Savings Bank Account by October 16 by visiting the nearest branch.
What is the limit of Icici zero balance account?
| Available to All Cities | Issue of DD drawn on ICICI Bank by cheque/transfer Nil | Statement Passbook facility available free of cost | Debit Card annual fees Nil | Debit Card limit Daily spending/withdrawal limit: Rs 10,000/ Rs 10,000 |
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Which bank has zero balance?
| Bank Name of zero-balance savings account Interest rate | Kotak Mahindra Bank 811 4% to 6% | Standard Chartered Bank Basic Banking Account 0.5% to 4.90% | HDFC Bank Basic Savings Bank Deposit Account 3.50% to 4% | Axis Bank Basic Savings Account 3.50% to 4% |
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Which bank is better SBI or Icici?
Some of the key results of the comparison between the two banks are: Lowest Interest rate of SBI Loan is 9.60%, which is lower than the lowest interest rate of ICICI Bank at 10.25%. Hence, SBI is offering a cheaper loan option. ... Therefore, ICICI Bank can be a better option if you are looking for a high value amount.
How do I check my minimum balance?
- Call 1800-270-3333 to check your account Balance.
- Dial 1800 1800-270-3355 to check your Mini statement.
- You can call 1800-270-3377 to get Account Statement.
- You can call 1800-270-3344 for mobile banking.
What is monthly average balance in Icici?
Monthly Average Balance = Sum of closing balance for all days in a month (Day 1 + Day 2 + Day 3 +...... + Day 30) Divided by Number of Days in a month (30).
What is minimum balance?
For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit , such as keeping the account open or receiving interest.
Which is best bank in India?
DBS Bank has taken the top position in a list of the best banks in India, This is DBS Bank’s second consecutive win out of 30 domestic and international banks operating in India. The list was compiled by Forbes in partnership with market research firm Statista.
Which bank saving account is best?
| Savings Account Interest Rate | DBS digibank Saving Account Up to 3.75% p.a. | Axis Bank Savings Account 3.00% p.a. onwards | State Bank of India Savings Account 2.70% p.a. | Standard Chartered Bank Prime Savings Account Up to 3.25% p.a. |
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What is minimum balance charge?
The penal charges have to be approved by the bank’s board. Banks charge different charges based on the location of the account. ... So, if the average minimum balance is below Rs 2,500 in an urban branch account, the charges are Rs 600 per month while if the AMB is below Rs 10,000 but above Rs 7,500, the penalty is Rs 150.
