Icici Bank Savings Account Interest Rate
- Icici Bank Savings Account India
- Icici Bank Savings Account Interest Rate Calculator
- Icici Bank Savings Account Interest Rate Uk
- What Is The Interest Rate In Icici Bank
ICICI Bank interest rate: ICICI Bank has cut the interest rate on saving deposits by 25 basis points (bps). The new rates will come into effect from June 4, i.e Thursday, ICICI Bank said.
The private sector lender has cut the interest rate on all deposits of less than Rs 50 lakh to 3 percent, a reduction of by 25 bps against the existing 3.25 percent. For deposits of Rs 50 lakh and above, the account holders will earn an interest of 3.50 percent, down from 3.75 percent currently.
Get CIBIL Score Instantly for Free and Save around INR 4,800 a Year (Only for Wishfin Customers) Instant Personal Loan Quotes from 17 Banks and Get the Best Deal. Savings Account is the oldest and most common form of savings. The reason behind people preferring a savings account over any other form of savings is that here the principal amount is always safe no matter how much interest is earned. List of Savings Account Banks Minimum Balance Required (INR) Savings Account Interest Rates (Per Annum) Allahabad Bank: 1000: 3.00% - 3.15%: Andhra Bank.
In the meantime, the State Bank of India (SBI) has also reduced its savings deposit interest rate by 5 basis points (bps) to 2.7%. Flush with liquidity and comparatively less demand for loans due to the lockdown, most lenders have resorted to lowering deposit rates.
ICICI Bank Senior Citizens Savings Account. ICICI Bank Senior Citizens Account also called 'Life Plus' is a savings account specially introduced for the individuals above 60 years of age. It offers people of old age to live a worriless life because of phenomenal banking solutions. Highlights: ICICI Bank Senior Citizens Account requires a. Interest earned on your Savings Account balance shall be credited to your account on a half yearly basis in the months of June and December. Interest is calculated on a daily basis on the daily closing balance in the account at the rate of 4% per. The new rates will be effective from April 8, ICICI Bank said in a regulatory filing. Savings bank accounts with deposits up to Rs 50 lakh will earn 3.25 per cent interest as against existing 3.5.
SBI Chairman Rajnish Kumar has already said that in the current scenario, interest rates are going to reduce. “The reduction in interest rates will be for both borrowers and depositors,” Kumar said recently.
SBI, on May 27, had slashed its retail term deposit rates by up to 40 bps across all tenors.
For deposits maturing in seven days to 45 days, SBI is offering an interest rate of 2.90 percent as against 3.30 percent earlier. It revised the rate for fixed deposits in 180 days to 210 days bracket to 4.40 percent from 4.80 percent earlier.
The interest rate for deposits maturing in 5 years to 10 years has been cut to 5.40 percent from 5.70 percent earlier. The bank has also cut interest rates for bulk deposits ( ₹2 crores and above) by up to 50 basis points.
ICICI Bank has also announced that it has extended the moratorium on its loans and credit card dues.
Customers need to apply to avail of the benefits of the moratorium. If they fail to apply, loan installments will continue to be debited every month as per the existing process, the bank said.
The moratorium facility will be granted for up to a period of three months, for all loans/facilities falling due for payments between June 1, 2020, and August 31, 2020.
Is designed to let you earn attractive interest along with the option of withdrawing funds, by transferring them to the linked current account.
Features of Savings Account
Attractive interest rates
Funds in your account no longer lie idle but continue to provide you with returns. The interest payable is calculated on the closing balance of the day. The accumulated interest is credited into your account at the end of every month.
Multi-currency
You have the option to open savings account in Singapore Dollar.
Minimum balance
There is no minimum balance requirement for savings account in Singapore Dollars. However if the total monthly average balance of all your accounts with us such as current account, Fixed deposit, savings account falls below 1000 currency units, the following charges will apply
| Total Monthly average balance | Charges applied to the respective month |
|---|---|
| 1000 and above | No fee |
| 500 - 1000 | 3 |
| 500 and below | 5 |
Monthly statements
You will receive a monthly statement of your savings, on the communication address registered with the Bank.
Multiple account holder
For added convenience, the savings account can be opened and operated by one or more applicants, depending on the signing condition given at the time of account opening.
How to open a savings account
Open a savings account with us in 3 easy steps
Step 1 - Please visit our branches.
Step 2 - Complete the Account opening forms and provide us Identity and Address proof documents .
Step 3 - To fund your account, you can issue a cheque.
Icici Bank Savings Account India
Identity/Address proof documents
a) Proof of Identity:
- Singapore Citizens / Permanent Residents - Copy of pink / blue NRIC card
- Singapore Residents (Other than Permanent Residents) - Copy of documents issued by the relevant Government Agencies/ Ministries in Singapore (eg: Employment Pass) and Passport
- Singapore Non Residents - Copy of Passport
b) Proof of Residential Address - E.g. latest copy of utility bills, bank statements etc - issued within last 3 months
Please carry the originals of the above mentioned documents with you so that our staff may verify the same.
Savings Account Interest Rates
Effective November 09, 2010
FAQ's
What is a Savings Account?
The Savings Account is an account linked to a current account that offers the twin benefits of interest rates as well as flexibility of withdrawal of funds without any lock-in. The account provides facility of earning interest on the funds in it, while at the same time allowing you the flexibility to withdraw monies, as per your requirement through the linked current account. Saving account cannot be opened as a standalone account
Icici Bank Savings Account Interest Rate Calculator
In what currencies can one open a Savings Account? What is the minimum balance requirement?
You can open a savings account in Singapore Dollar (SGD). There is no minimum balance requirement, however if the total monthly average balance of all your accounts with us such as current account, Fixed deposit, savings account falls below 1000 currency units, the following charges will apply -
Icici Bank Savings Account Interest Rate Uk
| Total Monthly Average Balance | Administrative charge for the respective month |
|---|---|
| 1000 and above | No fee |
| 500 - 1000 | 3 |
| 3 | 5 |
Is any interest paid on the account?
What Is The Interest Rate In Icici Bank
The interest accrual will happen daily and will be credited monthly in the account.
Please note that interest rate is subject to change and the applicable rate will be updated on our website.
Incase of change in interest rate you may choose to discontinue the account for which you will be required to notify the bank within a month of the effective date of the interest rate change as updated on the website.