ICICI Bank Advantage Woman Savings Account

ICICI Bank Advantage Woman Savings Account
Minimum Average Balance (Regular Acc.)	Rs. 10,000
Interest Rate	3.00% to 3.50%
Eligible Customers	Women in the age group of 18-59 years

ICICI Bank Advantage Woman Savings Account is for women in the age group of 18-59 years. This savings account has several shopping benefits, lucrative offers, discounts, and special rewards. The initiative is to give women freedom of choice, and access banking from anywhere. This account has variants such as Regular, Silver, Gold, and Platinum. You also have the chance to get a dedicated Relationship Manager. Joint accounts are possible, with the primary holder as female.

In this post, we will discuss ICICI Bank Advantage Woman Savings Account features, interest rate, eligibility criteria, details of all the variant accounts, fees and charges, and frequently asked questions.

Features of ICICI Bank Advantage Woman Savings Account

Here are the features of this ICICI Bank Savings Account:

For the regular variant of Advantage Woman SB account, Rs. 10,000 is the minimum average monthly balance.
You can pay utility bills using the ICICI Bank’s Bill Pay facility. Perform banking from anywhere through net banking, phone banking, and mobile banking.
Any other branch other than the parent one of this bank can also help conduct transactions.
You can nominate a person for bank deposits, your account as a beneficiary. Also, the nominee can be just one person in both single and joint accounts. Nominations can be changed in the future.
Earn several benefits on your Debit Card such as cashback up to Rs. 750 every month on jewellery, entertainment, and dining. Also, receive interesting offers on spending.
Access Money Multiplier option and earn higher rates on the setup of a balance limit, over which SB account’s money gets converted to fixed deposits.
Get a 50% discount on the locker rental for the first year.
Unlimited and free cash withdrawal transactions at any Bank’s ATM
Enjoy preferential rates on personal loans, home loans, and car loans.
Get a ready tool – My Money, to manage your finances.
You can apply for iProtect Smart, a comprehensive premium for Accidental Death, Life, and 34 critical illness cover.

Eligibility Criteria for ICICI Bank Advantage Woman Savings Account

Here are the eligibility norms:

Women applicants need to be in the age group of 18 to 59 years to open this account
Only residents from India can apply for this facility
The primary application of this account has to be a woman in case of a joint account

ICICI Bank Advantage Woman Savings Account Interest Rates

ICICI Bank Advantage Woman Savings Account Interest Rate is between 3.00% to 3.5% per annum.

Variants of ICICI Bank Advantage Woman Savings Account

Here are details of the variants for this ICICI Bank Savings Account:

1. ICICI Bank Advantage Woman Regular Account

Here is the information:

The monthly average balance must be Rs. 10,000.
You get free and unlimited access to all banks’ ATMs.
Enjoy Rs. 750 cashback every month on using your Debit Card.
For the first year of locker rental, get 50%.

2. ICICI Bank Advantage Woman Silver Account

Here are the details:

The monthly average balance must be Rs. 25,000.
Get cashback of up to Rs. 750 on using the Debit Card, every month.
Free banking across every branch in India.
Unlimited and free access to all banks’ ATMs.
On the first year of locker rental, get 50% off. Thereafter, get 15% off.

3. ICICI Bank Advantage Woman Gold Account

Here is more to know:

The minimum monthly average balance must be Rs. 50,000.
Exclusive zones at bank branches.
Get cashback of up to Rs. 750 every month by using your Debit Card.
Free and unlimited access to all banks’ ATMs.
Priority processing at bank branches.

4. ICICI Bank Advantage Woman Titanium Account

Here is the information:

The minimum monthly average balance you need to keep is Rs. 1,25,000.
Free and unlimited access to all banks’ ATMs.
Priority processing at bank branches.
Dedicated Relationship Manager.
50% discount on locker rental for the first year, and then 40% henceforth.
Get cashback of up to Rs. 750 on using the Debit Card, every month.
Exclusive privilege banking zones in the branches.
No charges for Demand Drafts drawn by transfer/cheque on ICICI Bank.

ICICI Bank Advantage Woman Savings Account Fees and Charges

Here are the charges on this type of ICICI Bank Savings Account:

ICICI Bank Advantage Woman Savings Account Charges and Details
Non-maintenance of Minimum Monthly Average Balance	6% of the shortfall in required MAB or Rs. 500 whichever is lower.
Cash Transaction	1) 4 free cash transactions every month. But Rs. 150 will apply per transaction beyond this limit. 2) For the home branch, you get every month free limit of Rs. 1 lakh. Over this limit, Rs. 5 will apply per Rs. 1,000, with minimum charge subject to Rs. 150. In the case of a non-home branch, no charges apply for the transaction limit of Rs. 25,000 per day. Over this limit, Rs. 5 will apply on every Rs. 1,000, subject to Rs. 150 minimum. 3) For third-party transactions, the limit is Rs. 25,000 per instance. Beyond this, Rs. 150 will apply to every transaction.
Additional Cash Transaction	Cash deposits done at cash recycler machines and free transactions on the same will cost Rs. 100 per instance for the initial 2 transactions. Thereafter, the cost is Rs. 125 per instance if you do not maintain the monthly average balance.
Issue of DD drawn on ICICI Bank by cheque/transfer	Rs. 50 per Demand Draft of the value of up to Rs. 10,000. Thereafter for every Rs. 1,000, Rs. 5 will apply. The minimum charge here is however Rs. 75, and the maximum cost is Rs. 15,000.
Debit Card Fees for first Account Holder	For Gramin locations, it is Rs. 99 per annum. For other locations, it is Rs. 150 per annum.
Debit Card Fees for joint Account Holder	For Gramin locations, it is Rs. 99 per annum. For other locations, it is Rs. 150 per annum.
Debit Card Cash withdrawal limit	The daily spending limit for domestic and international transactions is Rs. 1 lakh. And the withdrawal limit is Rs. 50,000.
Cheque Books	No charges for 25 payable-at-par cheque leaves, yearly. For every additional book of 10 leaves, Rs. 20 will apply.
Value Added SMS Alerts	Rs. 15 per quarter
Outstation cheque collection –through ICICI bank branch locations and non-ICICI bank branch locations	Rs. 25 per instrument of value up to Rs. 5,000. Rs. 50 per instrument of value Rs. 5,001 to Rs. 10,000. Rs. 100 per instrument of value over Rs. 10,001 to Rs. 1 lakh. Rs. 200 per instrument of value over Rs. 1 lakh.

Frequently Asked Questions for ICICI Bank Advantage Woman Savings Account

Here are the FAQs for this ICICI Bank Savings Account:

1. How Does this SB Account Help in Convenient Banking?

The bank offers free email statements, a passbook for all individual account holders, payable at par multi-city cheque book, the iMobile app, and internet banking for eased transactions.

2. Which Documents Do You Require to Open this Account?

You need to submit your KYC documents along with 2 passport-size photographs.

3. How to Port Your Savings Account?

You can put a request to port your savings account from the parent branch to another. This is possible through contacting customer care or internet banking. Also, you can visit the existing bank branch and submit a written request for the same. It takes about 2 working days for this activity to complete. For this, you must surrender the cheque book provided, debit card, etc. During the process, the account operations will be suspended, and the account number shall be changed.

4. Which Are the Value-Added Services?

The Value-Added Services include investments, insurance, and deposit schemes.

5. What Are the Limits on Transactions?

In a month, the first five financial and non-financial transactions together are free. Charges will apply thereafter.