ICIC Bank 0 Balance Account Opening : Abank account is one of the most important financial tasks for individuals and businesses. ICICI Bank offers a zero-balance savings account which is a convenient option for those wanting to avail basic banking services without any initial deposit or minimum balance requirements. This blog provides all important details on how to easily open and start using this account from the comfort of your home. It discusses the simple online and offline processes along with necessary documentation. Key factors like charges, features and customer support services are also covered to help readers make an informed choice.
Types of ICICI Bank Zero Balance Account
| Type of account | Features |
| Basic Savings Account | No minimum balance Unlimited free transactions Debit card facility Online and digital banking access |
| Salary Savings Account | Only for salaried individuals Zero balance across 25 branches Free personal accidental insurance |
How to Open ICICI Bank Zero Balance Account Online?
ICICI bank zero balance account opening online is simple and convenient. Here are the simple steps to open one:
- Visit the ICICI Bank website and click on ‘Open an Account’
- Enter your basic details like name, date of birth, etc. and submit
- Upload scanned photo and signature as required
- Provide your contact details and email address
- Choose a nomination for your account
- Verify your mobile number and email ID
- Read all the terms and conditions and accept
- Your account will be instantly opened and you can start using internet banking right away. No minimum balance for ICICI bank 0 balance account opening online.
How to Open ICICI Bank Zero Balance Account Offline?
For those who prefer opening an account offline, ICICI Bank provides a simple process for it as well. Here are the basic steps for opening ICICI zero balance account:
- Visit the nearest ICICI Bank branch with required documents
- Documents needed are address and identity proof
- Fill the account ICICI bank savings account opening form available at the branch
- Provide basic KYC details and photograph
- Nomination can also be made at the branch
- An initial deposit is not required for a zero-balance account
- Receive internet banking credentials on the spot
- Done! You can start using your new ICICI 0 balance account.
ICICI Bank Zero Balance Account Interest Rates
Following is the table representing the interest rate provided by bank according to their end of the day balance for online ICICI bank account opening with zero balance-
| On Balances (in ₹) | Rate of Interest (% p.a.) |
| For end of day balance below ₹ 50 Lakhs | 3.00 |
| For end of day balance ₹ 50 Lakhs and above | 3.50 |
Fees and charges of ICICI Bank Zero Balance Account
ICICI Bank offers a zero-balance savings account with minimal fees. Here are some important points regarding fees:
- No monthly balance requirement or maintenance charges to open zero balance account online ICICI
- Unlimited ATM transactions at ICICI Bank ATMs, first 5 transactions free at other bank ATMs
- ₹20 charge for cash deposits
- ₹100 charge for cheque book of 10 leaves initially, ₹50 for subsequent requisitions
- Online transaction through debit card, NEFT or IMPS are free
- First 10 transactions free via cheque or cash deposits, then ₹5/transaction
- No penalty if minimum balance not maintained
- ₹100 as account closure charges within 6 months
- 18% GST on all applicable charges
Eligibility criteria to open ICICI Bank Zero Balance Account
There are some basic eligibility norms to open this ICICI zero account:
- You must be an Indian citizen or NRIs can also open it
- Minimum age to open an account is 18 years
- You will need valid identity and address proof
- Aadhaar card is mandatory for KYC verification
- PAN card is required if your annual deposit exceeds ₹50,000
- For offshore clients, tax residency certificate is needed
- Salaried individuals, self-employed, homemakers, students can apply
- No minimum balance or maximum limit on deposits
- Accounts can be opened singly or jointly with anyone above 18 years
Documents required to open ICICI Bank Zero Balance Account
To fulfill Know Your Customer (KYC) norms and open ICICI bank account opening zero balance, you need to provide the following valid documents:
- Address proof: Voter ID, Passport, Ration Card, Driving License, Aadhaar Card
- Identity proof: Voter ID, Passport, PAN Card, Driving License, Aadhaar Card
- Date of birth proof: 10th Certificate, Birth Certificate, Valid Passport
- Address proof must not be more than 6 months old
- Overseas applicants need valid Visa & Passport copy
- NRIs need Passport, PAN & Overseas Address Proof
- One passport size photograph
- Nominee details if choosing to nominate anyone
ICICI Bank Zero Balance Account Welcome Kit
Once your zero-balance account is opened, ICICI Bank provides a welcome kit with important details. Here’s what it includes:
- Debit card for easy access to your funds
- Internet banking details for 24×7 banking
- Initial cheque book with 10 leaves (more available on request)
- Account statement for last 1-month transactions
- Contact details of bank support
- Customer care number for any queries/issues
- Details of mobile banking and UPI apps
- Security tips and precautions while using your ICICI bank zero balance account
- Information booklet covering all account related details
ICICI Bank Zero Balance Account Helpline
For any assistance regarding the zero-balance account, ICICI Bank provides multiple contact options:
| Contact Details | Description |
|---|---|
| ICICI Bank Headquarters | ICICI Bank Towers, Bandra-Kurla Complex, Mumbai, Maharashtra, 400051 |
| Toll-Free Number | 91 22 26538900 |
| Email Address | [email protected] |
Customers can call the toll-free number to talk to an agent during working hours. Email can be used to write in with queries. ICICI ensures quick resolution of customer problems through multiple helpline options.
Final Word
In this digital age, having an affordable and easily accessible bank account is crucial for managing personal finances and making transactions securely. ICICI Bank’s zero balance savings account addresses this need well with its zero hassle opening process and free basic services. Customers can deposit and withdraw funds as per requirement without worrying about balance conditions. Backed by robust internet and mobile banking platforms, customers can bank remotely with complete safety. ICICI also ensures issues are resolved swiftly through multiple helpline options. Overall, this account is a good choice for those starting their banking journey or needing a low maintenance savings option.
FAQs
Yes, ICICI Bank offers a ICICI zero balance savings account called ‘Basic Savings Account’ which does not require any minimum balance to be maintained. Customers can open and use this account without worrying about balance conditions.
Some of the best zero balance savings accounts offered by major banks are Basic Savings Account from ICICI Bank, Basic Savings Bank Deposit Account (BSBDA) from SBI, Savings Account from HDFC Bank and Regular Savings Account from Axis Bank. ICICI Bank’s zero balance account is one of the most convenient options as it allows free unlimited transactions and has good digital banking platforms.
ICICI Bank does not impose any minimum balance requirement for maintaining the zero-balance savings account. Customers have total freedom to deposit or withdraw money from this account without worrying about balance conditions or maintenance charges.
Yes, in addition to offline opening, ICICI Bank allows opening the zero-balance savings account completely ICICI zero balance account opening online through their website using the online application process. This involves paperless KYC and account opening. Customers receive login for internet and mobile banking instantly.
Anyone having a valid identity and address proof can open this account as long as they meet basic eligibility like minimum age of 18 years. Indian citizens and NRIs residing in India are eligible. Salaried individuals, professionals, homemakers, students, and pensioners can easily open this affordable zero balance account.
An ICICI Bank 0 balance account refers to a basic savings account that does not require the account holder to maintain any prescribed minimum balance. The account holder is free from any penalty or charges if the minimum balance is not maintained in the account. It is a basic savings account where no minimum balance is required to be maintained.
Yes, an ATM card can be provided along with the 0-balance savings account. The ATM card allows account holders to access their money and conduct basic financial transactions even with a zero-account balance. It enables cash withdrawals and balance enquiries at ATM machines of ICICI Bank as well as other bank ATM networks. However, there may be charges applicable for transactions done at other bank ATMs. The ATM card comes quite handy for zero balance account holders to deposit or withdraw cash as per their requirements without having to pay minimum balance charges.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
