Categories: Banking

Feature and Benefits of ICICI Bank

Premature Withdrawal Facility

FD with Premature Withdrawal Facility for Domestic, NRO & NRE Deposits:
Interest will be paid for the time the deposit was with the bank.

No interest if you withdraw the entire deposit amount within 7 days from the date of deposit for Domestic and NRO FDs.

No interest if you withdraw NRE FDs within 1 year from the date of the deposit.

Penalties for premature withdrawal are mentioned below:

FD Without Premature Withdrawal Facility for Domestic, NRO & NRE Deposits:
These FDs cannot be closed before their pre-determined tenure. .

If early closure is allowed in these cases, no interest will be paid on the deposit. Any interest credited will be recovered from the deposit amount.

Overdraft Against Fixed Deposit (ODFD) facilities are unavailable for non-withdrawable deposits.

Interest rates and minimum deposit amounts can change without notice.

The auto-renewal facility is not available.

The minimum term for traditional NRO FDs is 3 months, and the maximum is 10 years.

The minimum term for cumulative NRO FDs without premature withdrawal facility is 6 months, and the maximum is 10 years.

The minimum term for NRE FDs is 1 year.

ICICI Bank, one of India’s largest private sector banks, offers a range of features and benefits across its banking products and services. Here are some of the key features and benefits:

1. Wide Range of Products and Services

Retail Banking: Savings and current accounts, fixed deposits, recurring deposits, and personal loans.
Business Banking: Loans for SMEs, corporate banking services, and trade finance.
Investment Services: Mutual funds, insurance, and wealth management solutions.
Credit and Debit Cards: Various cards with rewards, cashback, and travel benefits.

2. Convenient Banking, Feature and Benefits of ICICI Bank

Digital Banking: Robust online and mobile banking platforms for easy access to account management, bill payments, and fund transfers.
ATMs and Branches: Extensive network of ATMs and branches across India for easy access to banking services.

3. Customer-Centric Features

24/7 Customer Support: Dedicated helplines and online chat for customer assistance at any time.
Personalized Services: Tailored financial solutions based on individual needs and preferences.

4. Innovative Technology

Mobile Banking App: User-friendly app for seamless banking experiences, including features like account tracking, payment scheduling, and transaction alerts.
Contactless Payments: Facilities for NFC (Near Field Communication) payments for quick and secure transactions.

5. Security and Safety, Feature and Benefits of ICICI Bank

Advanced Security Measures: Use of technologies like two-factor authentication (2FA) and biometric login for enhanced security.
Insurance Products: A range of insurance products to protect against various risks, including life and health insurance.

6. Loans and Financing Options

Competitive Interest Rates: Attractive rates on personal loans, home loans, and auto loans.
Flexible Repayment Plans: Various options to manage loan repayments based on customer needs.

7. Rewards and Benefits, Feature and Benefits of ICICI Bank

Loyalty Programs: Reward points, cashback offers, and discounts on credit and debit cards.
Special Offers: Discounts and deals on a wide range of products and services through partnerships and tie-ups.

8. Financial Planning and Advisory

Wealth Management Services: Expert advice on investment planning, retirement planning, and tax-saving strategies.
Financial Education: Resources and tools to help customers make informed financial decisions.

9. Global Presence

International Banking Services: Services for NRIs (Non-Resident Indians) and international banking solutions for global transactions.

10. Advanced Digital Platforms:

ICICI Bank Mobile App: Provides features like fund transfers, bill payments, account management, and investment tracking.
Internet Banking: Offers a comprehensive range of banking services online, including account management and transaction history.

11. Extensive Branch and ATM Network:

Large network of branches and ATMs across India and some international locations, providing easy access to banking services.

These are the features and benefits make ICICI Bank a versatile and accessible option for a wide range of banking needs, from everyday transactions to more complex financial planning.

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