Discover the advantages of the ICICI advantage woman savings account and how it can help woman manage their finances. Read our comprehensive guide to learn about its features, eligibility, and fees.
In today’s fast-paced world, women are pivotal in shaping society, personally and professionally. Recognising woman’s unique financial needs and aspirations, ICICI Bank proudly presents the ‘Advantage Woman Savings Account’.
It is an exclusive offering designed to empower women. It is an exclusive offering designed to empower women and support their journey. Here, we will discuss the advantage woman savings account of ICICI in depth.
Empowering Woman’s Finances: Introducing
The ICICI advantage woman savings account is more than just a bank account. It is a comprehensive financial solution for women, which addresses the specific requirements of women from all walks of life. This account offers a range of features and benefits tailored to suit your needs, whether you are a
- Working professional
- An entrepreneur
- A homemaker
- A student.
With the ICICI woman savings account, women can access a host of advantages beyond conventional banking services. From personalised banking experiences to exclusive rewards and offers, this account is offered to make a woman’s financial journey seamless and rewarding.
The ICICI Woman Savings Account stands out for its remarkable convenience. With their user-friendly mobile banking app and internet banking platforms, you can effortlessly access your account anytime and anywhere. This ensures you maintain complete control over your finances, allowing you to manage your money according to your convenience and preferences.
Moreover, this account offers attractive interest rates on your savings, facilitating steady growth of your money over time
Benefits
The ICICI woman savings account comes with a range of enticing benefits. They are as follows.
| Benefits | ICICI Advantage Woman Savings Account |
| Higher interest rates | Offers higher interest rates, up to 4% per annum |
| Discounted rates on loans | Woman account holders can avail discounted rates on home, car, and personal loans |
| Insurance benefits | Provides free personal accident insurance cover up to ₹10 lakhs and air accident insurance cover up to ₹30 lakhs |
| Discounts and offers | Various discounts and offers on lifestyle, healthcare services, dining, shopping, and entertainment |
| Cashback on transactions | Account holders can avail cashback on transactions like
|
Objectives of ICICI Advantage Woman Savings Account
- Empower woman by providing a specialised financial solution
- Cater to the unique needs and aspirations of woman
- Promote woman’s financial independence
- Offer higher interest rates, insurance coverage, and discounts
- Provide convenient banking services tailored to woman
- Support woman in achieving their financial goals
- Help woman effectively manage their finances
- Ensure a secure and rewarding banking experience for woman.
Features
The advantage woman savings account offers a range of convenient features to meet the financial needs of woman. They are
| Features | ICICI Advantage Woman Savings Account |
| Zero balance account | Yes |
| Debit card fees | The charge is ₹ 150 for non-Gramin locations and ₹ 99 for Gramin locations. |
| Cheque book |
|
| Internet and mobile banking | Access to account details and transactions via the internet and mobile banking |
| SMS alerts | Receive SMS alerts for all transactions |
Eligibility Criteria
- Woman of Indian nationality or origin can open an ICICI woman savings account
- The account can be opened singly or jointly with another woman
- Women who are 18 years and above can open this account.
How to Apply for the ICICI Advantage Woman Savings Account
- Step 1: Go to the nearest ICICI Bank branch and fill the account opening form.
- Step 2: Submit the necessary documents as per the bank’s requirements.
- Step 3: After the verification process is successfully conducted, your account will be opened.
Documents Required to Open an ICICI Advantage Woman Savings Account
- Identity proof
- Address proof
- Passport-size photographs
- Form 16 if PAN card is not available
Different Tiers, Different Benefits: Variants of ICICI Advantage Woman Savings Account
The four variants of the advantage woman savings account offer different benefits and have varying monthly average balance requirements. Choose the variant that aligns with your financial needs.
| Variant | Advantage Woman A/c Regular | Advantage Woman A/c Silver | Advantage Woman A/c Gold | Advantage Woman A/c Titanium |
| Monthly Average Balance | ₹10,000 | ₹25,000 | ₹50,000 | ₹1,25,000 |
| Benefits |
-50% off on first-year locker rentals. -Unlimited access to all bank ATMs -Monthly cashback up to ₹750 on debit card usage |
-50% off on first-year locker rentals and 15% thereafter. -Unlimited access to all bank ATMs -Monthly cashback up to ₹750 on debit card usage -Free banking across all branches |
-50% off on first-year locker rentals and 20% thereafter. -Unlimited access to all bank ATMs. -Monthly cashback up to ₹750 on debit card usage. -Exclusive zones and priority processing at branches |
-50% off on first-year locker rentals and 40% thereafter -Unlimited access to all bank ATMs -Monthly cashback up to ₹750 on debit card usage. -Dedicated relationship manager -No charges for DD drawn on the bank by cheque or transfer -Exclusive zones and priority processing at branches |
Fees and Charges
- Debit Card Charges:
The first year’s debit card charges are ₹150
- Cheque Book Charges:
It is free of cost.
- Cash Withdrawal Charges:
Comparison of ICICI Advantage Woman Savings Account with Other Woman-Centric Savings Accounts:
Various banks in India offer several other woman-centric savings accounts. Let’s compare the ICICI woman savings account with some of these accounts.
| Bank | ICICI | HDFC | Axis | SBI |
| Account name | ICICI advantage woman savings account | HDFC woman’s savings account | Axis woman’s savings account | SBI savings account for woman |
| Interest rate | Higher rates | Up to 4% | Up to 3.5% | Up to 3% |
| Insurance coverage | Better coverage | Up to ₹50 lakhs | Up to ₹10 lakhs | Up to ₹20 lakhs |
| Minimum balance | Zero balance required | ₹10,000 | ₹15,000 | ₹1,000 |
Conclusion
The ICICI woman savings account is an excellent choice for woman who want to save and manage their finances efficiently. With its benefits and features, this account can help woman achieve their financial goals and plan for a secure future.
Whether you’re a working woman, a homemaker, or a student, the advantage woman savings account can provide you with the financial security and flexibility you need.
Vakilsearch, India’s leading legal solutions provider, can help you hassle-free open an advantage woman savings account. Our team of experts can guide you through the account opening process and ensure that all the required documents are in order. Contact us today.
Frequently Asked Questions (FAQS)
What is the minimum balance requirement for an ICICI advantage woman savings account?
The minimum balance requirement for an ICICI woman savings account is ₹ 10,000.
Can a joint account be opened under the ICICI woman savings account?
Yes, a joint account can be opened under the ICICI woman savings account.
How can I apply for an ICICI woman savings account?
You can apply for an ICICI woman savings account online through the ICICI Bank website or by visiting a branch in person.
What are the fees and charges associated with an ICICI advantage woman savings account?
The fees and charges vary based on account balance, ATM usage, and transaction types, among others
What are the additional features of ICICI advantage woman savings account?
Some additional features include cashback rewards, discounts on shopping and dining, and preferential interest rates on select products.
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