Ever wished for a no-fuss bank account that lets you save money without worrying about maintaining a minimum balance? Well, say hello to the ICICI BSBDA Account. It’s a smart banking option for those who want essential banking services without extra costs. This account offers the perfect solution for students, freelancers, or anyone who prefers hassle-free banking.
With the ICICI BSBDA Account, you can enjoy zero balance requirements, free basic banking services, and easy access to your money anytime. But is it the right fit for you? In this blog, we’ll break down everything you need to know—features, benefits, eligibility, and how you can open one today! Keep reading to find out why this account is gaining popularity among smart savers.
Table of contents
- What is the ICICI BSBDA Account?
- Interest Rates on ICICI BSBDA Account
- Eligibility Criteria to Open an ICICI BSBDA Account
- ICICI BSBDA Account Opening Online
- Documents Required to Open an ICICI BSBDA Account
- ICICI BSBDA Account Limits
- Fees & Charges on ICICI BSBDA Account
- How to Download ICICI Basic Savings Account Statement?
- FAQs
What is the ICICI BSBDA Account?
The ICICI BSBDA (Basic Savings Bank Deposit Account) is a zero-balance savings account designed for easy and affordable banking. It helps you save money without worrying about maintaining a minimum balance.
Check out the key features & benefits of the ICICI BSBDA Account below-
- Zero Balance Requirement – No need to maintain a minimum balance. Save stress-free!
- No Initial Deposit – Open your account with zero upfront payment.
- Wide ATM Access – Withdraw cash from 15,000+ ATMs across India within ICICI ATM cash withdrawal limits.
- Free Rupay Debit Card – Enjoy seamless transactions at no extra cost.
- Cash Deposits at No Cost – Deposit money anytime without fees.
- Passbook Facility – Keep track of your transactions easily.
- Internet & Mobile Banking – Access your account online, on request.
- Single or Joint Account – Open an account individually or with a family member.
With the ICICI BSBDA Account, you get essential banking services without unnecessary charges. Stay tuned as we dive deeper into how to open one, eligibility, and more!
Interest Rates on ICICI BSBDA Account
One of the key benefits of the ICICI BSBDA Account is that it earns interest just like a regular savings account. The interest is calculated daily based on the closing balance and is credited quarterly—in March, June, September, and December. The rates are set by ICICI Bank in line with RBI directives.
Here’s a breakdown of the current interest rates:
| End-of-Day Balance | Applicable Interest Rate |
| Below INR 50 Lakhs | 3.00% p.a. |
| INR 50 Lakhs and Above | 3.50% p.a. |
The interest amount is rounded off to the nearest rupee before being credited. This makes the ICICI BSBDA Account a great option for earning passive income while enjoying zero balance benefits!
Eligibility Criteria to Open an ICICI BSBDA Account
Not everyone can open an ICICI BSBDA Account—there are a few simple rules to keep in mind. This account is designed for individuals who need basic banking services without the hassle of maintaining a balance.
If you meet these criteria, you’re all set to open an ICICI BSBDA Account and enjoy hassle-free banking-
- Indian Resident – You must be an Indian citizen and above 18 years of age. (NRIs are not eligible.)
- No Other Savings Account – You shouldn’t hold another savings account, including a BSBDA, with ICICI Bank.
- No BSBDA with Other Banks – You can’t have a BSBDA account with any other bank.
- Individual Capacity – The account must be opened in your name alone, not as a Karta of a Hindu Undivided Family (HUF).
ICICI BSBDA Account Opening Online
Opening an ICICI BSBDA Account is a simple and hassle-free process, designed for individuals who want a zero-balance savings account without the burden of maintaining a minimum balance.
The Basic Savings Bank Deposit Account (BSBDA) ensures financial accessibility with essential banking services at no extra cost. Follow these easy steps for zero-balance minor account opening online–
- Visit the nearest ICICI Bank branch in person.
- Collect the account opening form from a bank representative.
- Fill out the application form with the required personal and financial details.
- Submit the form along with the necessary documents for identity and address verification.
- Wait for the bank to verify your details and process the account activation.
Once your BSBDA Account is active, you can enjoy benefits such as a free RuPay Debit Card, online banking facilities, and unlimited cash deposits—all without worrying about minimum balance requirements.
Also Read: Check here all the details of ICICI Bank education loan to study abroad. Know the interest rate, eligibility and application process.
Documents Required to Open an ICICI BSBDA Account
Opening an ICICI BSBDA Account is a simple process, but you need to provide the right documents to get started. The bank follows Know Your Customer (KYC) guidelines to ensure secure and hassle-free banking.
Whether you’re opting for a regular BSBDA account with complete KYC or a Basic Savings – Small Deposit Account with limited KYC, here’s what you’ll need to submit.
For a Regular BSBDA Account
To open a fully functional ICICI BSBDA account, you must provide-
- Complete KYC Documents – Ensure you have full Know Your Customer (KYC) verification.
- Photo ID Proof – As per ICICI Bank’s acceptable list (PAN card is not valid as ID proof).
- Address Proof – A document that verifies your current residence.
- Account Opening Form – A duly filled application form.
- Declaration Form – Required for a Basic Savings Account.
- Self-Attested Photograph & Signature/Thumbprint – To confirm your identity.
For a Basic Savings – Small Deposit Account (Limited KYC)
If you don’t have complete KYC documents at the time of account opening, you can still apply by submitting-
- Self-attested Photograph & Signature/Thumbprint
- Proof of applying for a KYC document (within 12 months of opening the account)
- Valid KYC document (to be submitted within 24 months of account opening)
Note: Accounts opened with complete KYC will have no cap on credit transaction limits, while all other features remain the same.
ICICI BSBDA Account Limits
The ICICI Basic Savings Bank Deposit Account (BSBDA) comes with specific transaction and balance limits to ensure it remains a zero-balance account while promoting financial inclusion. Below are the key BSBDA account limits applicable to the account:
| Transaction Type | Limit |
| Maximum Account Balance | Cannot exceed INR 50,000 at any time |
| Total Yearly Credits | Should not exceed INR 1,00,000 per year |
| Monthly Withdrawals & Transfers | Capped at INR 10,000 per month |
These limits ensure that the ICICI BSBDA Account remains compliant with regulations while offering essential banking benefits without a minimum balance requirement.
Fees & Charges on ICICI BSBDA Account
While the ICICI BSBDA Account offers several free banking services, certain transactions may attract charges. To help you stay informed, here’s a breakdown of the most common charges associated with the account.
| Service | Charges |
| ATM Balance Enquiry (Outside India) | INR 25 per enquiry at international ATMs |
| Replacement of Lost/Damaged Debit Card | INR 200 per card replacement |
| Cheque Return Charges (Insufficient Funds) | Outward (cheque deposited by customer): INR 200 per instance Inward (cheque issued by customer): INR 500 per instance (financial reasons)INR 50 (non-financial reasons) |
| ECS/NACH Debit Return Charges | INR 500 per instance (max 3 times per month) |
| Stop Payment Charges | INR 100 per cheque (Free via customer care IVR & Net Banking) |
| Demand Draft (DD) Issuance Charges | Up to INR 10,000: INR 50 per DD Above INR 10,000: INR 5 per INR 1,000 (Min INR 75, Max INR 15,000)For senior citizens, students & rural locations: Lower charges apply |
| Debit Card Daily Withdrawal & Spending Limit | INR 10,000 for both ATM withdrawals & purchases |
| Cash Deposit Charges at Cash Recycler Machines | INR 50 per transaction if deposited on bank holidays or between 6 PM – 8 AM on working days, exceeding INR 10,000/monthExemptions: Senior Citizens, BSBDA holders, Jan Dhan accounts, student accounts & visually impaired individuals |
| Statement & Passbook Charges | Quarterly statement & e-statements: Free Duplicate statement (branch request): INR 100 per statement Duplicate passbook issuance: INR 100 + INR 25 per page for updates |
| International Transactions (Cross-Currency Markup on Debit Card) | 3.5% of the transaction amount for foreign currency payments |
With zero balance requirements and minimal charges, the ICICI BSBDA Account is an excellent choice for hassle-free banking!
Also Read: Check here all about ICICI Bank Personal Loan. Know the interest rates, eligibility, and documents and know how to apply for the loan.
How to Download ICICI Basic Savings Account Statement?
Downloading your ICICI Basic Savings Account statement is quick and easy using Internet Banking. You can access up to the last four years of statements and even opt for e-statements via email. Follow these steps to view and download your account statement securely.
Check out the steps to download the ICICI Basic Savings Account statement-
- Log in to ICICI Internet Banking using your User ID and Password.
- Navigate to Bank Accounts and select View Detailed Statement.
- Click on ‘e-Statements’ and choose the desired period.
- Download the statement in PDF format (secured with a password).
Password to Open the PDF:
- First four letters of your account name (lowercase) + date & month of birth (DDMM format).
- Example: If your name is Sujit Sawant and your birthdate is January 5, your password will be suji0501.
- Alternatively, you can use your 12-digit account number (the last three digits mentioned in the email subject).
This process ensures a secure and convenient way to access your ICICI BSBDA Account statement anytime.
To sum up, the ICICI Basic Savings Account offers multiple benefits, including a zero balance requirement, a free Rupay Debit Card for ATM withdrawals and POS transactions, and Internet & Mobile Banking for easy account access.
It allows unlimited deposits and withdrawals, provides a free passbook for tracking transactions, and includes a nomination facility for added security.
FAQs
Indian residents above 18 years who do not hold another savings account with ICICI Bank can apply for an ICICI Basic Savings Account.
Visit the nearest ICICI Bank branch, request an ICICI BSBDA Account opening form, fill it out, and submit it with the required documents.
There is no minimum balance requirement. The ICICI Basic Savings Account operates as a zero-balance account.
To open an ICICI Basic Savings Account, you need identity and address proof documents. These can include any one of the following from Aadhaar Card, PAN Card, Passport, or Voter ID.
The ICICI Basic Savings Account offers multiple benefits, including a zero balance requirement, a free Rupay Debit Card for ATM withdrawals and POS transactions, and Internet & Mobile Banking for easy account access. It allows unlimited deposits and withdrawals, provides a free passbook for tracking transactions, and includes a nomination facility for added security.
Dial 9594612612 from your registered mobile number for the balance or 9594613613 for the last three transactions. You can also check via iMobile, Internet Banking, or Customer Care.
You can manage your ICICI Basic Savings Account through ICICI Bank branches, ATMs, and phone banking.
Visit the nearest ICICI Bank branch to request a passbook. Once activated, paper statements will be discontinued, but online statements remain accessible.
One of the key benefits of the ICICI BSBDA Account is that it earns interest just like a regular savings account. You can earn 3% p.a on a balance below INR 50 lakhs and 3.50% p.a on a balance above INR 50 lakhs.
Yes, an ICICI BSBDA Account can be opened as a joint account.
Login to Internet Banking > Bank Accounts > View Detailed Statement > e-Statements and download statements for up to four years.
Yes, you can nominate one person per account. Visit any ICICI Bank branch to update or change nomination details.
Update your address via Internet Banking under Service Requests or visit an ICICI Bank branch with a valid ID and address proof.
Call ICICI Customer Care from your overseas number, note the service request number, download the Overseas Mobile Number Updation Form, and send it within seven working days.
Visit any ICICI Bank branch, fill out the nominee update form, and submit it to modify the nomination details.
To learn more about education loans, the best bank accounts for students, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
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