In 2026, ICICI Bank continues to be a leader in the Indian banking sector, offering a versatile range of savings products designed for everyone from students to senior citizens.
Understanding the 2026 interest rate structure and associated charges is essential for maximising your savings and avoiding unnecessary penalties.
What is an ICICI Bank savings account?
An ICICI Bank Savings Account is a secure deposit account that offers a combination of liquidity and steady growth.
It provides access to high-tech banking features, including the iMobile Pay app, internet banking, and personalised debit cards, helping users manage daily expenses while saving for future goals.
ICICI Bank Savings Account Interest Rate 2026
As of late 2026, ICICI Bank has established a standard interest rate for most retail customers.
Interest is calculated based on your daily closing balance and is credited to your account on a quarterly basis (March, June, September, and December).
| Balance Bracket | Interest Rate (Per Annum) |
| Across all account balances | 2.50% p.a. |
Note: Special accounts like Salary Privilege or certain high-value deposits may offer tiered rates up to 3.00% or 3.50%, depending on specific eligibility and balance thresholds.
Types of Savings Accounts in ICICI Bank
ICICI Bank offers several account variants tailored to specific life stages:
- Regular Savings Account: A versatile account for routine banking needs with full digital access.
- Titanium Privilege Account: Designed for high-net-worth individuals, featuring higher daily limits and lifestyle rewards.
- Young Stars Account: For minors under 18, promoting early financial literacy with parent-monitored spending.
- Seniors Club Savings Account: Offers priority service, health-related benefits, and better rates on linked FDs for those aged 60+.
- Salary Privilege Account: A zero-balance account for corporate employees with additional perks like free international debit cards.
- Freedom Savings Account: A digital-focused account for tech-savvy users, emphasising mobile and online flexibility.
- Easy Receive Savings Account: Optimised for NRI families to receive international remittances smoothly.
- Campus Power Account: Tailored for students (18–30) with educational loan assistance and student-friendly features.
Check out the HDFC Bank savings account interest rate guide.
What is the ICICI Bank savings account minimum balance?
Revised in August 2025, the Monthly Average Balance (MAB) requirements for newly opened accounts are as follows:
- Metro & Urban Locations: ₹15,000
- Semi-Urban Locations: ₹7,500
- Rural Locations: ₹2,500
What is the ICICI Bank Savings Account maximum balance?
There is no maximum balance limit for an ICICI Bank savings account. For very high balances, the bank often suggests the Money Multiplier Facility, which automatically shifts surplus funds into higher-earning Fixed Deposits (FDs).
How Much Penalty Is Charged for Not Maintaining a Minimum Balance?
Failure to maintain the required MAB results in a service fee:
- Penalty: 6% of the shortfall in the required MAB or ₹500, whichever is lower.
What are the ICICI Bank savings account charges?
Common service fees for 2026 include:
- Debit Card Annual Fee: Typically ₹150 (regular areas) or ₹99 (Gramin/rural areas).
- SMS Alert Charges: 15 paise per SMS for regular accounts or ₹15 per quarter for variants like Young Stars.
- ATM Interchange: Usually 3–5 free transactions at non-ICICI ATMs; thereafter, ₹23 per financial and ₹8.50 per non-financial transaction.
Check out the list of the best private banks in India.
How to Open and Close an Account
How to Open a Savings Account
- Online: Use the Video KYC facility via the ICICI website or app to open an account instantly with Aadhaar and PAN.
- Offline: Visit any branch, complete the application form, and submit physical documents.
Documents Required
- Proof of ID/Address: Aadhaar Card, Passport, Voter ID, or Driving License.
- Tax Document: PAN Card (mandatory).
- Photos: Two recent passport-sized photographs.
How to Close an ICICI Bank Savings Account
To close your account, visit your home branch, submit an account closure form, and return your debit card and unused cheque book.
Closure Charges:
- Within 30 days or after 1 year: NIL.
- Between 31 days and 1 year: ₹500.
Features and Benefits
- Digital Power: Access over 400 services through the iMobile Pay app.
- Money Multiplier: Earn FD-like interest on surplus savings while maintaining liquidity.
- Customisation: Option to personalise your debit card with chosen images.
You can also save daily in digital gold on the Jar app. Start with ₹50 per day!
Conclusion
ICICI Bank remains a top choice for Indian savers due to its robust digital infrastructure and wide variety of account types.
While the base interest rate is competitive at 2.50%, the secondary benefits, like the Money Multiplier and extensive ATM network, provide significant value for long-term financial management.
Frequently Asked Questions
1. Is there a zero-balance account in ICICI?
Yes, Salary Accounts and the Basic Savings Bank Deposit Account (BSBDA) are zero-balance options.
2. How often is the interest credited?
Interest is credited quarterly at the end of March, June, September, and December.
3. Is interest from a savings account taxable?
Interest up to ₹10,000 is typically exempt from tax under Section 80TTA. Any amount above this is added to your taxable income.
