Select Savings Account FAQs
Basic Information
What is the Select Banking Programme?
The Select Banking Programme is a premium offering in which customers can enrol into and enjoy enhanced banking benefits like premium debit card, preferential offerings on Demat and loans.
Can I open a Savings Account under Select Banking programme online?
Yes, you can apply for a Savings Account online under Select Banking Programme.
Is the Savings Account under Select Banking programme available as a joint account?
Yes, the Savings Account under Select Banking programme can be opened as a single or joint account.
What is the interest rate offered on Savings Account under Select Banking programme?
The interest rate is as per ICICI Bank’s prevailing savings account rates and is subject to change from time to time.
Is there a minimum balance requirement?
Yes, customers are required to maintain Monthly Average Balance of ₹15,000 in Select Banking Savings Account.
What happens if the minimum balance is not maintained?
Non-maintenance charges will be applicable. This charge will be waived if customer enrols and fulfils the respective programme eligibility criteria.
What happens if MAB in Savings Account is not maintained?
Non-maintenance charges will be applicable, which is 6% of the shortfall amount or Rs. 500 whichever is lower.
This charge will be waived if customer enrols and fulfils the respective programme eligibility criteria.
What happens if programme threshold is not maintained?
Non-maintenance charges will not be levied if ₹15,000 MAB is maintained.
If customer does not meet average programme criteria for 12 months, then the account will be re-classified.
Can I extend Select Banking benefits to my family members?
Yes, you can extend Select Banking benefits to your family members by opting for Family Banking.
How many family members can be linked under Select Banking?
You can link up to 9 family members under Select Banking
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