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Mutual Funds | 14 Oct 2021

ICICI Bank Zero Balance Savings Account

ICICI Bank has launched an exciting new saving account with a zero balance guarantee for its customers. The zero balance savings account is called Basic Savings Bank Deposit Account (BSBDA). It allows a customer to deposit money in the account and withdraw it only when the account contains a zero balance. The account comes with all the benefits of regular savings accounts. A customer can deposit funds, withdraw them, and avail of many other banking services. However, the customer will not be allowed to withdraw funds when the account is in a negative balance.

What Is An ICICI Bank Savings Account?

The ICICI Bank Savings Account is one of the most popular savings accounts in India. It's easy to open and offers many benefits, including the following :

Benefits of ICICI Bank Savings Account

1.Low Minimum Balance There is no minimum balance requirement for this type of account. In fact, No initial deposit is needed to open your account.

2.This makes it a great option for those who want to save but don't have a lot of money to put away.

3.No Service Charge The interest rate on the ICICI Bank Savings Account is fixed at.

4.5% per annum. There are no service charges associated with this type of account.

5.No Service Fee The only fee associated with this account is the annual maintenance fee.

6.No ATM Charges If you're using an ATM that belongs to ICICI Bank, you won't have to pay any fees.

7.No Other Fees There are no other fees associated with this type of account.

8.Free SMS Alerts You can opt for free SMS alerts to keep track of your balance and transactions.

9.No Minimum Age For Opening The Account You don't need to be 18 years old to open a savings account with ICICI Bank.

10.No Limit On Number Of Savings Accounts You Can Open There's no limit on the number of savings accounts you can open with ICICI Bank.

11.No Limit On The Number Of Transactions Per Day There's no limit on the number of transactions you can make in a day.

12.24/7 Customer Support You can get in touch with customer support at any time.

13.Free Online Banking Access You can access your account online, 24/7, from any computer or smartphone.

14.Easy-to-Use Mobile App You can use the mobile app to check your balance, transfer money, and view your transaction history.

15.No Paper Statements You don't have to wait for your monthly statement to arrive in the mail. You can check your balance and transactions right on your mobile app.

16.Low Fees The ICICI Bank Savings Account comes with low fees.

17.Easy-To-Understand Account Terms The terms of this account are easy to understand.

18.No Monthly Service Fee There's no monthly service fee associated with this type of account.

19.No Minimum Balance For Interest Earnings There's no minimum balance requirement for interest earnings..

20.No Lock-In Period For Opening The Account There's no lock-in period for opening the account.

21.No Restrictions On The Number Of Transactions Per Day There are no restrictions on the number of transactions you can make in a day.

22.No Restrictions On The Amount You Can Deposit Or Withdraw You can deposit and withdraw as much money as you want.

23.No Restrictions On The Number Of Savings Accounts You Can Open You can open as many savings accounts as you want.

24.No Restrictions On The Number Of Savings Accounts You Can Transfer Money From one saving account to another.

25.No Restrictions On The Number Of Savings Accounts You Can Link To A Debit Card You can link a savings account to a debit card, so you can use it like any other debit card.

26.No Restrictions On The Number Of Savings Accounts You Can Link To An E-wallet You can link your savings account to an e-wallet, so you can use it like any other e-wallet.

Basic Savings Bank Deposit Account (BSBDA)

With the Basic Savings Bank Deposit Account (BSBDA) from ICICI Bank, enjoy the advantage of zero balance requirement. Designed to help you save up consistently, our zero balance savings account offers you interest at attractive rates.

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