ICICI Bank savings account for women: Benefits, eligibility and how to open

A savings account is the most feasible way to save funds for the future and earn a fixed rate of interest on the principal amount. 

A bank savings account is the most prevailing service offered by all the scheduled commercial banks in which one can save fund for future and earn a fixed rate of interest on the principal amount. ICICI Bank offers various options when it comes to savings accounts, but one that stands out is the ICICI Bank Advantage Woman Savings Account. The account has been designed specifically for women and offers many benefits like Cashback Offer, Processing Fee Waiver, Preferential Rate on Loan etc. Here is all you need to know about it:

Debit Card benefits:

Women can earn as they spend. They can get a cashback of up to Rs 750 per month on dining, entertainment, jewellery purchases on the usage of Debit Card. Moreover, women will never be far away from money as the bank provides free unlimited access to all the account holders within India.

Eligibility:

The bank has notified the eligibility criteria where all the resident Indian woman of 18 years and above should be the primary applicant.

Special discounts and offers:

All the ICICI Bank Advantage Woman Savings Account holders will enjoy the double benefits of the lower rate as they will get preferential rates on Home Loan, Personal Loans and Car Loans. Women can apply easily for iProtect Smart which has a comprehensive premium for Life, Accidental Death and for other critical illness. Additionally, women will be exclusively entitled to get a discount of 50 per cent on locker rentals.

Maximise returns:

With ICICI Bank Advantage Woman Savings Account a working woman will earn higher interest by setting a balance limit above which money in the Savings Account will get converted into Fixed Deposit on request.

Convenient Banking:

All the ICICI Bank Advantage Woman Savings Account holders will be able to manage their Savings Account from anywhere, anytime using Internet Banking, iMobile app and ATMs. Further, they get facilities like e-mail statements, Payable-at-Par multi-city cheque book, passbook facility for all individual account holders for free of cost.

According to ICICI Bank customers can transfer home loan balance without paying any processing fees if the auto debit is the mode of repayment of the loan.

Savings Account Portability:

With ICICI Bank Advantage Woman Savings Account, a working woman can request for transfer of her Savings Account from one branch of ICICI Bank to another through Internet Banking or our Customer Care. Alternatively, she can submit a written request at the nearest ICICI Bank branch. The account will be transferred within 2 working days without suspending the account operations, change in the account number and surrender of Debit Card or cheque book. Moreover, the first five transactions (inclusive of financial and non-financial transactions) in the month are free for the customer. Thereafter, minimal charges are applicable.

Watch This Zee Business Video

Nomination Facility:

The ICICI Bank Advantage Woman Savings Account holder may nominate a person as a beneficiary to her account. Nomination facility is available for bank deposits but there can only be one nominee for a deposit account whether held singly or jointly.