Opening An Insta Saving Account- ICICI Bank
An Insta Saving account is a saving account that can be opened and operated through your smartphone with appropriate apps. Under this saving account, an account holder can perform tasks such as bill payment, balance check, money transfer and many other functions with a single click on your smartphone. You can access your bank accounts through your laptops and PCs too. This account comes with extra benefits such as zero balance saving accounts, complementary credit cards, debit cards, internet banking facilities, and discounts while buying products from another bank. These benefits may vary from bank to bank. So to enjoy all the above benefits, you are suggested to open your Insta saving account with the ICICI Bank. After the pandemic period of COVID 19, you can enjoy hassle-free and quick digital transactions by opening your own Insta Savings account without any delay.
Insta saving account opening procedure:
Insta saving account is an identity-based savings account, which is only provided to the bank's new customers. Your identity proofs like PAN cards and adhaar cards can provide you with a quick facility for instant banking. You can follow the most straightforward online procedure with a few clicks and start enjoying the exclusive deals and benefits provided by the ICICI Bank.
Every bank has a mobile app to carry on all the digitalized procedures with. The ICICI Bank uses the 'i mobile' app to carry on all the online procedures with ease. You can open your own Insta saving account from your comfortable homes. All you require is the following the eligibility guidelines provided by the ICICI bank.
Who is eligible for opening ICICI’s Insta saving account?
• Any Indian resident who is 18years or above in age and does not have any tax liability in a country outside India is eligible for the instant opening of an Insta Savings account with the convenient online procedure.
• The benefits of Insta savings account are only provided to the new members of ICICI bank. So before applying for this saving account, you need to make sure that you do not have any other account or are a customer of the ICICI Bank.
• Verification of the documents is very necessary to open a savings account. The applicant must have an OTP-based adhaar card or another identification document like Permanent Account Number (PAN Card), which must be valid under the law.
• The mobile number which the applicant is using or any other active mobile number should be linked to the provided adhaar card document.
• Lastly, the applicant must have an active email address to get all the updates and cash transaction notifications on his smartphone or laptop.
Availability and completion of all the above documents will make you eligible for the online procedure of opening ICICI's Insta savings account. You can go to the official portal and fill in the necessary fields.
The different variants of ICICI’s Insta Savings Account:
The ICICI bank provides two different variations of the Insta Savings Account according to the needs and preferences of its new users, namely:
1. Insta save account
This is the basic Insta saving account which can be opened by following a few simple steps of the online procedure with your adhaar cards. This account requires the maintenance of a minimum balance of Rs 10000 to continue enjoying the extra benefits of this saving account.
2. Insta Save FD Account
The Insta save FD Account is just like the Insta Saving Account, which can be opted by the applicants besides the regular saving account for fixed deposits. The applicant has to maintain a minimum of Rs 10 thousand, which is the Fixed Deposit amount. This is convenient for customers who are unable to keep an average minimum balance. The bank also provides its customers with credit cards against their fixed deposit accounts.
Maximum limit on the amount that can be saved
After opening the Insta savings account, the account holder has to maintain an average minimum balance for the regular Insta savings account. The maximum balance limit on the amount saved in this account is Rs 1 lakh only. However, if you don't want to undergo any restrictions on the saving amount, you are required to undergo the KYC verification. This verification will remove all the depositing limits, and you can save any number of amounts you want.
Features of ICICI’s Insta Savings Account
1. Instant opening of the account
Advanced technology these days has helped people save their time and money in many ways. To open your Insta Savings Account, you do not have to visit the branch of ICICI bank. All it requires is a valid adhaar card or PAN card and following the proper steps of the online procedure from the official portal.
2. No requirement of minimum balance
As shown above, the ICICI bank provides two variations of the Insta saving account. One of the variations called the Insta Save FD account does not require an average monthly balance. However, the account holder has to maintain an amount equal to Rs 10000 for a period of 12 months against his fixed deposit.
3. High FD interest rates
The ICICI bank provides attractive scheme rates on the fixed deposit accounts of its customers. First, the account holder must submit at least Rs 10000 within three months of opening the regular saving account. After that, the bank allows the account holder to earn high-interest rates and save their money for future use.
4. Complimentary credit card and VISA debit card
The account holder is provided with the option of availing of a complimentary credit card to carry out your transactions. The limit of the credit card is based on the amount of money deposited as the fixed deposit. You get 90% of the fixed deposit as your credit card limit. The process of availing of your credit card takes place three days after opening an account and verifying the KYC documents. Customers also get platinum VISA Debit cards in which they can earn reward points with every money transaction.
5. Insurance policies
ICICI's Insta Savings Account holders get free air accident insurance of Rs 50 thousand. Also, products amounting to Rs 50 thousand bought using ICICI's debit card are guaranteed against any theft, fire, or loss in any other form in transit within 90 days of purchasing the products.
6. Internet banking facilities
By opening a savings account in the ICICI bank, you get the benefits of internet banking through your mobile phone. You can proceed with any of your bill payments and other cash transactions with the appropriate internet banking application.
These were some of the advantages and features a person will enjoy after opening an Insta Saving account or Insta Saving FD account with the ICICI bank.
Once you have followed the procedure of opening an Insta Savings account with valid adhaar documents, you will get a call from a bank representative to complete your KYC verification. A full KYC verification of your documents will allow you the advantage of using every facility provided by the ICICI bank.
Managing your money with MoneySpring
Or, if you don't have the time of managing your account, you can get access to the Money Spring tool. You can get the following advantages by gaining access to a single device:
• You can secure your future with the best planning advice by the experts without any second thoughts of worrying about your data. Money Spring provides security with all your banking details and other personal stuff.
• We provide the users with the most straightforward investment platforms with early planning assessments. Our users get the first advantage from any new investment field in the market.
• Money Spring provides the most exclusive deals and offers with mutual funding and insurance with the best outcome of your invested money.
• You can calculate and compare different schemes with the inbuilt calculator facilities like EMI calculator, FD calculator, SIP calculator, and lump-sum amounts.
• Planning is made accessible in the Money Spring tool resulting in the best outcomes for a better future for your family.
You are more than welcome to get access to the best planning and management tool for professional money management guidance and a secure future.
To save a good amount of money for your future use or your loved ones, you can invest in the Insta Savings Account with the ICICI bank. With this account, you won't only save a percentage of your income for your family but also increase the amount with attractive interest rates by the bank. You can open fixed deposit saving accounts for increasing your saved money amount.
You do not need to leave your busy schedules as a working person. You can open your own Insta Savings Account by following a few steps of the online procedure and managing your account from any corner of the world with internet access.